Company registration number 07546990 (England and Wales)
COTSWOLD DIESEL RAILCAR LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2025
PAGES FOR FILING WITH REGISTRAR
COTSWOLD DIESEL RAILCAR LTD
COMPANY INFORMATION
Directors
Mr R G Etherton
Mr G D Forrest
Company number
07546990
Registered office
Churchward House
The Railway Station
Winchcombe
Cheltenham
GL54 5LD
Accountants
Ormerod Rutter Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
Bankers
Lloyds Bank Plc
PO Box 1000
BX1 1LT
COTSWOLD DIESEL RAILCAR LTD
CONTENTS
Page
Accountants' report
1
Balance sheet
2
Notes to the financial statements
3 - 5
COTSWOLD DIESEL RAILCAR LTD
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF COTSWOLD DIESEL RAILCAR LTD FOR THE PERIOD ENDED 31 DECEMBER 2025
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Cotswold Diesel Railcar Ltd for the period ended 31 December 2025 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made solely to the b oard of d irectors of Cotswold Diesel Railcar Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Cotswold Diesel Railcar Ltd and state those matters that we have agreed to state to the b oard of d irectors of Cotswold Diesel Railcar Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Cotswold Diesel Railcar Ltd and its b oard of d irectors as a body, for our work or for this report.

It is your duty to ensure that Cotswold Diesel Railcar Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Cotswold Diesel Railcar Ltd. You consider that Cotswold Diesel Railcar Ltd is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of Cotswold Diesel Railcar Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory f inancial statements.

Ormerod Rutter Limited
27 February 2026
Chartered Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
COTSWOLD DIESEL RAILCAR LTD
BALANCE SHEET
AS AT 31 DECEMBER 2025
31 December 2025
- 2 -
31 December 2025
31 March 2025
Notes
£
£
£
£
Fixed assets
Tangible assets
3
-
0
49,175
Current assets
Cash at bank and in hand
96,860
57,772
Creditors: amounts falling due within one year
4
(13,953)
(7,756)
Net current assets
82,907
50,016
Net assets
82,907
99,191
Capital and reserves
Called up share capital
5
67,500
67,500
Profit and loss reserves
15,407
31,691
Total equity
82,907
99,191

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial period ended 31 December 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

T he members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 27 February 2026 and are signed on its behalf by:
Mr R G Etherton
Director
Company registration number 07546990 (England and Wales)
COTSWOLD DIESEL RAILCAR LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2025
- 3 -
1
Accounting policies
Company information

Cotswold Diesel Railcar Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Churchward House, The Railway Station, Winchcombe, Cheltenham, GL54 5LD.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business.

Revenue from the provision of services is recognised by reference to the stage of completion, when the costs incurred and costs to complete can be estimated reliably.

1.3
Tangible fixed assets

Tangible fixed assets are stated at cost. Depreciation is not provided for as the directors are of the opinion that, as heritage items of railway rolling stock far beyond there conventional working lives, it would be inappropriate to treat them as ordinary items of plant and machinery. Work undertaken by the company will preserve the life of the assets over an indefinite period and it is likely that they will appreciate in value rather than falling. The directors will review this position annually.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery
Nil

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

COTSWOLD DIESEL RAILCAR LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2025
1
Accounting policies
(Continued)
- 4 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

2
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

2025
2025
Number
Number
Total
2
3
3
Tangible fixed assets
Plant and machinery
£
Cost
At 1 April 2025
49,175
Disposals
(49,175)
At 31 December 2025
-
0
Depreciation and impairment
At 1 April 2025 and 31 December 2025
-
0
Carrying amount
At 31 December 2025
-
0
At 31 March 2025
49,175
COTSWOLD DIESEL RAILCAR LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2025
- 5 -
4
Creditors: amounts falling due within one year
2025
2025
£
£
Taxation and social security
12,631
7,030
Other creditors
1,322
726
13,953
7,756
5
Called up share capital
2025
2025
2025
2025
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ord of £500 each
135
135
67,500
67,500
6
Ultimate controlling party

There is no ultimate controlling party.

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