REGISTERED NUMBER: 00114440 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

CORDS COVENTRY LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

S O'Sullivan

P Medora

SECRETARY:

S O'Sullivan

REGISTERED OFFICE:

Goat Mill Road

Dowlais

Merthyr Tydfil

Mid Glamorgan

CF48 3TF

REGISTERED NUMBER:

00114440 (England and Wales)

AUDITORS:

Kingscott Dix (Cheltenham) Limited

Statutory Auditor

Chartered Accountants

7 Rockfield Business Park

Old Station Drive

Leckhampton

Cheltenham

GL53 0AN

FIXED ASSETS

Tangible assets

4

-

-

CURRENT ASSETS

Stocks

64,110

248,266

Debtors

5

466,848

83,750

Cash at bank

6,786

-

537,744

332,016

CREDITORS

Amounts falling due within one year

6

(78,951

)

(130,622

)

NET CURRENT ASSETS

458,793

201,394

TOTAL ASSETS LESS CURRENT LIABILITIES

458,793

201,394

CREDITORS

Amounts falling due after more than one year

7

(1,249,707

)

(863,915

)

NET LIABILITIES

(790,914

)

(662,521

)

CAPITAL AND RESERVES

Called up share capital

9

457

457

Other reserves

117,979

117,979

Retained earnings

(909,350

)

(780,957

)

SHAREHOLDERS' FUNDS

(790,914

)

(662,521

)

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 December 2025 and were signed on its behalf by:

S O'Sullivan - Director

P Medora - Director

1.	STATUTORY INFORMATION

Cords Coventry Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern:

The company's ultimate parent company, Mayphil (UK) Limited, has given an undertaking to the company that it will not seek to redeem monies owed to it such that the company could not continue in operational existence from a date at least twelve months from the date of approval of the financial statements. The company continues to meet its debts as they fall due.

Significant judgements and estimates

No significant judgements or estimations have been used in preparing the financial statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

15% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

Parent entity

The company is a subsidiary of Mayphil (UK) Limited, company number 01158616, registered at Goat Mill Road, Dowlais, Merthyr Tydfil, Mid Glamorgan, CF48 3TF. The results for the year are included in the consolidated group results of Mayphil (UK) Ltd.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2024 - NIL).

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

At 1 April 2024

and 31 March 2025

105,441

DEPRECIATION

At 1 April 2024

and 31 March 2025

105,441

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

-

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

72,484

83,750

Amounts owed by group undertakings

394,364

-

466,848

83,750

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

-

60,984

Trade creditors

-

5,218

Taxation and social security

2,259

24,107

Other creditors

76,692

40,313

78,951

130,622

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Amounts owed to group undertakings

1,249,707

863,915

8.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank overdraft

-

60,984

The company's assets have been pledged as security to the company's bankers to support the company's bank facilities and those of its fellow UK group undertakings.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

452

Deferred

£1

452

452

452

Ordinary

£0.01

1

5

5

457

457

10.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Gwyneth Milner ACA (Senior Statutory Auditor)

for and on behalf of Kingscott Dix (Cheltenham) Limited

11.	RELATED PARTY DISCLOSURES

During the year, the company made purchases of £395,597 (2024 - £274,160) from and sales of £nil (2024 - £nil) to the company's parent undertaking, Mayphil (UK) Limited. At the balance sheet date, the company owed £1,249,707 (2024 - £863,915) as shown within creditors due after more than one year.

During the year, the company made purchases of £nil (2024 - £nil) from and sales of £328,637 (2024 - £286,397) to a fellow subsidiary undertaking, Quantum ES Limited. At the balance sheet date, the company owed £394,364 (2024 - £nil).

12.	ULTIMATE CONTROLLING PARTY

The controlling party is Mayphil (UK) Limited.

The ultimate controlling party is R Medora.