ACCOUNTS - Final Accounts preparation

Company registration number: 16030148

	UNAUDITED FINANCIAL STATEMENTS
	FOR THE PERIOD ENDED 31 MARCH 2026

	COSTILLOES LIMITED


COSTILLOES LIMITED

COMPANY INFORMATION

Directors	G D J Hayward-Cole
	N Hayward-Cole


Registered number	16030148


Registered office	Menzies LLP 2nd Floor
	Magna House
	18-32 London Road
	Staines-Upon-Thames
	Surrey
	TW18 4BP


Accountants	Menzies LLP
	Chartered Accountants
	2nd Floor, Origin One
	108 High Street
	Crawley
	RH10 1BD


COSTILLOES LIMITED

CONTENTS

	Page
Statement of Financial Position	1 - 2
Notes to the Financial Statements	3 - 5


COSTILLOES LIMITED REGISTERED NUMBER:16030148

STATEMENT OF FINANCIAL POSITION

AS AT 31 MARCH 2026

		2026
Note		£

Fixed assets
Investments	4		4,449,085
			4,449,085
Current assets
Debtors: amounts falling due within one year	5	6,829
Cash at bank and in hand		13,057
		19,886
Creditors: amounts falling due within one year	6	(4,032,173)
Net current (liabilities)/assets			(4,012,287)
Total assets less current liabilities			436,798
Provisions for liabilities
Deferred tax		(98,473)
			(98,473)
Net assets			338,325

Capital and reserves
Called up share capital			310
Profit and loss account			338,015
			338,325

Page 1


COSTILLOES LIMITED REGISTERED NUMBER:16030148

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 MARCH 2026

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

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.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

G D J Hayward-Cole

Director

Date: 19 June 2026

The notes on pages 3 to 5 form part of these financial statements.

Page 2


COSTILLOES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MARCH 2026

1.	General information

Costilloes Limited is a private company, limited by shares, incorporated in England and Wales. The company's registered number and registered office can be found on the company information page. The company has no principal place of business.

The company was incoporated on 21 October 2024 and as such these are the first financial statements produced by the company, representing a period longer than one year.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. 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 following principal accounting policies have been applied:

2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP and is rounded to the nearest £.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Income and Retained Earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the period in which they are incurred.

Page 3


COSTILLOES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MARCH 2026

2.Accounting policies (continued)

2.5

Current and deferred taxation

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

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 income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

2.6

Valuation of investments

Investments in listed company shares are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in profit or loss for the period.

2.7

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.

Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.

Increases in provisions are generally charged as an expense to profit or loss.

2.8

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Employees

The average monthly number of employees, including directors, during the period was 2.

Page 4


COSTILLOES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 31 MARCH 2026

4.	Fixed asset investments

		Listed investments
		£
	Cost or valuation
	Additions	5,228,479
	Disposals	(1,182,580)
	Revaluations	403,186
	At 31 March 2026	4,449,085

Listed investments are recognised at market value as at 31 March 2026. Changes in market value are reflected in the Statement of Income and Retained Earnings as gains from changes in fair value of fixed asset investments.

Debtors

					2026
					£


	Prepayments and accrued income	6,829
		6,829

6.	Creditors: Amounts falling due within one year
		2026
		£

	Other loans	625,000
	Corporation tax	29,100
	Other creditors	3,316,489
	Accruals and deferred income	61,584
		4,032,173

Included within creditors is a loan amount of £625,000 due to The Hayward-Cole Discretionary Settlement 2024. Interest is being accrued daily at 3% and is payable, in arrears, annually on the final business day of the financial year, subject to directors' approval. The loan is repayable on demand.

7.	Related party transactions
	Included within other creditors is an amount of £3,316,489 due to the directors. There is no interest payable on this loan in this period. The loan is repayable on demand.

Page 5