Registration number: 04518952

John Cowell Limited

Contents

Company Information	1
Statement of Financial Position	2
Notes to the Unaudited Financial Statements	3 to 10

John Cowell Limited

Company Information

Director

Mr John William Cowell

Registered office

316 Blackpool Road Fulwood Preston Lancashire PR2 3AE

Accountants

McDade Roberts Accountants Ltd Chartered Accountants316 Blackpool Road Preston Lancashire PR2 3AE

John Cowell Limited

(Registration number: 04518952)
Statement of Financial Position as at 31 August 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	84,200	65,642
Current assets
Stocks	5	40,000	40,000
Debtors	6	55,238	233,142
Cash at bank and in hand		164,496	154,839
		259,734	427,981
Creditors: Amounts falling due within one year	7	(98,573)	(79,148)
Net current assets		161,161	348,833
Total assets less current liabilities		245,361	414,475
Creditors: Amounts falling due after more than one year	7	-	(7,500)
Provisions for liabilities		(4,683)	(4,469)
Net assets		240,678	402,506
Capital and reserves
Called up share capital		3	3
Retained earnings		240,675	402,503
Shareholders' funds		240,678	402,506

For the financial year ending 31 August 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Income Statement.

Approved and authorised by the director on 13 May 2026
 

......................................... Mr John William Cowell Director

John Cowell Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
316 Blackpool Road
Fulwood
Preston
Lancashire
PR2 3AE

These financial statements were authorised for issue by the director on 13 May 2026.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

John Cowell Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025 (continued)

2	Accounting policies (continued)

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Fixtures and fittings - 25% on reducing balance
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

John Cowell Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025 (continued)

2	Accounting policies (continued)

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the income statement over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

John Cowell Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025 (continued)

2	Accounting policies (continued)

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 3 (2024 - 3).

John Cowell Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025 (continued)

4	Tangible assets

	Long leasehold land and buildings £	Fixtures and fittings £	Plant and machinery £	Office equipment £
Cost or valuation
At 1 September 2024	47,766	27,749	-	1,765
Additions	17,702	850	5,108	1,083
At 31 August 2025	65,468	28,599	5,108	2,848
Depreciation
At 1 September 2024	-	23,961	-	1,483
Charge for the year	-	947	1,170	616
At 31 August 2025	-	24,908	1,170	2,099
Carrying amount
At 31 August 2025	65,468	3,691	3,938	749
At 31 August 2024	47,766	3,788	-	282

	Motor vehicles  £	Total £
Cost or valuation
At 1 September 2024	32,725	110,005
Additions	-	24,743
At 31 August 2025	32,725	134,748
Depreciation
At 1 September 2024	18,919	44,363
Charge for the year	3,452	6,185
At 31 August 2025	22,371	50,548
Carrying amount
At 31 August 2025	10,354	84,200
At 31 August 2024	13,806	65,642

John Cowell Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025 (continued)

5

Stocks

	2025 £	2024 £
Other inventories	40,000	40,000

6

Debtors

Current	Note	2025 £	2024 £
Trade debtors		4,956	815
Amounts owed by related parties	10	-	191,979
Prepayments		966	2,415
Other debtors		49,316	37,933
		55,238	233,142

John Cowell Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025 (continued)

7

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	8	7,500	10,000
Trade creditors		3,387	199
Taxation and social security		79,925	66,825
Accruals and deferred income		7,600	1,953
Other creditors		161	171
		98,573	79,148

Creditors: amounts falling due after more than one year

	Note	2025 £	2024 £
Due after one year
Loans and borrowings	8	-	7,500

8	Loans and borrowings

Non-current loans and borrowings

	2025 £	2024 £
Bank borrowings	-	7,500

Current loans and borrowings

	2025 £	2024 £
Bank borrowings	7,500	10,000

Bank borrowings

Bounce Back Loan is denominated in Pound Sterling with a nominal interest rate of 2.5%, and the final instalment is due on 22 May 2026. The carrying amount at year end is £7,500 (2024 - £17,500). The UK Government have provided a 100% guarantee on the Bounce Back Loan Scheme (BBLS), borrowings obtained from National Westminster Bank PLC.

John Cowell Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025 (continued)

9	Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

	2025 £	2024 £
Not later than one year	12,308	12,308
Later than one year and not later than five years	22,564	34,872
	34,872	47,180

The amount of non-cancellable operating lease payments recognised as an expense during the year was £12,308 (2024 - £12,308).

10	Related party transactions

During the year, a company under common control that owed money to John Cowell Ltd is no longer trading and the decision has been made to write off the loan of £191,979 (2024 £191,979). This is reflected in these financial statements.

At the year end, Mr J W Cowell had an overdrawn directors loan account of £49,316 (2024 £37,934). The loan to the director is interest free.