Cotts Equine Ltd Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 5317942

Cotts Equine Ltd

Filleted Unaudited Financial Statements

30 September 2025

Cotts Equine Ltd

Financial Statements

Year ended 30 September 2025

Contents	Pages

Statement of financial position	1 to 2

Notes to the financial statements	3 to 8

Cotts Equine Ltd

Statement of Financial Position

30 September 2025

	2025	2024
Note	£	£

Fixed assets

Tangible assets	6	2,407,372	1,205,424

Current assets

Stocks		99,006	95,755
Debtors	7	430,203	251,206
Cash at bank and in hand		35,473	329,417
		---------	---------
		564,682	676,378

Creditors: amounts falling due within one year	8	( 517,152)	( 694,201)
		---------	---------
Net current assets/(liabilities)		47,530	( 17,823)
		------------	------------
Total assets less current liabilities		2,454,902	1,187,601

Creditors: amounts falling due after more than one year	9	( 1,321,097)	( 245,229)

Provisions	10	( 181,257)	( 92,200)
		------------	------------
Net assets		952,548	850,172
		------------	------------

Capital and reserves

Called up share capital	12	24,000	24,000
Share premium account		138,000	138,000
Profit and loss account		790,548	688,172
		---------	---------
Shareholders funds		952,548	850,172
		---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 30 September 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

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

Cotts Equine Ltd

Statement of Financial Position (continued)

30 September 2025

These financial statements were approved by the board of directors and authorised for issue on 19 June 2026 , and are signed on behalf of the board by:

J K Whitmore	H L Thomas
Director	Director

J G T Edwards	G S Fowke
Director	Director

S A McKane	R P C Coomer
Director	Director

Company registration number: 5317942

Cotts Equine Ltd

Notes to the Financial Statements

Year ended 30 September 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Cotts Farm, Robeston Wathen, Narberth, Pembrokeshire, Wales, SA67 8EY, United Kingdom.

2. Statement of compliance

These financial statements have been prepared in accordance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the Companies Act 2006.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The directors have a reasonable expectation that the company has adequate resources to continue operational existence for the foreseeable future. For this reason, the directors continue to adopt the going concern basis of accounting in preparing the annual financial statements.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Solar panels	-	Over 10 years
Property improvements	-	Over 50 years
Plant and machinery	-	20% straight line
Fixtures and fittings	-	20% straight line
Motor vehicles	-	25% straight line
Equipment	-	20% straight line
Bicycles	-	20% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 44 (2024: 42 ).

5. Tax on profit

Major components of tax expense

	2025	2024
	£	£

Current tax:

UK current tax expense	–	38,472
Adjustments in respect of prior periods	( 58,618)	( 1,098)
	--------	--------
Total current tax	( 58,618)	37,374
	--------	--------

Deferred tax:

Origination and reversal of timing differences	89,057	62,750
	--------	---------
Tax on profit	30,439	100,124
	--------	---------

6. Tangible assets

	Property improvements and solar panels	Plant and machinery	Fixtures, fittings and equipment	Motor vehicles	Bicycles	Total
	£	£	£	£	£	£
Cost
At 1 Oct 2024	841,383	1,295,442	199,839	321,992	11,783	2,670,439
Additions	1,331,578	44,639	13,875	2,200	–	1,392,292
Disposals	–	( 7,074)	–	( 13,750)	–	( 20,824)
	------------	------------	---------	---------	--------	------------
At 30 Sep 2025	2,172,961	1,333,007	213,714	310,442	11,783	4,041,907
	------------	------------	---------	---------	--------	------------
Depreciation
At 1 Oct 2024	46,935	1,066,651	184,848	158,059	8,522	1,465,015
Charge for the year	47,806	81,084	8,840	43,325	2,358	183,413
Disposals	–	( 1,414)	–	( 12,479)	–	( 13,893)
	------------	------------	---------	---------	--------	------------
At 30 Sep 2025	94,741	1,146,321	193,688	188,905	10,880	1,634,535
	------------	------------	---------	---------	--------	------------
Carrying amount
At 30 Sep 2025	2,078,220	186,686	20,026	121,537	903	2,407,372
	------------	------------	---------	---------	--------	------------
At 30 Sep 2024	794,448	228,791	14,991	163,933	3,261	1,205,424
	------------	------------	---------	---------	--------	------------

Finance leases and hire purchase contracts

Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:

	Plant and machinery	Motor vehicles	Total
	£	£	£
At 30 September 2025	87,758	44,168	131,926
	--------	--------	---------
At 30 September 2024	120,048	58,891	178,939
	---------	--------	---------

7. Debtors

	2025	2024
	£	£
Trade debtors	322,715	200,207
Other debtors	107,488	50,999
	---------	---------
	430,203	251,206
	---------	---------

Other debtors include an amount of £nil (2024 - £nil) falling due after more than one year.

8. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts (secured)	41,197	13,092
Trade creditors	238,123	537,545
Hire purchase creditors (secured)	60,480	49,232
Corporation tax	–	37,373
Social security and other taxes	148,918	31,032
Other creditors	28,434	25,927
	---------	---------
	517,152	694,201
	---------	---------

National Westminster Bank PLC loan facilities are secured by a fixed and floating charge dated 5 March 2019 held over the assets of the company.

9. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Bank loans and overdrafts (secured)	1,148,804	93,405
Hire purchase creditors (secured)	172,293	151,824
	------------	---------
	1,321,097	245,229
	------------	---------

Included within creditors: amounts falling due after more than one year is an amount of £1,015,558 (2024: £73,102) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.

10. Provisions

	Deferred tax (note 11)
	£
At 1 October 2024	92,200
Additions	89,057
	---------
At 30 September 2025	181,257
	---------

11. Deferred tax

The deferred tax included in the statement of financial position is as follows:

	2025	2024
	£	£
Included in provisions (note 10)	181,257	92,200
	---------	--------

The deferred tax account consists of the tax effect of timing differences in respect of:

	2025	2024
	£	£
Accelerated capital allowances	181,257	92,200
	---------	--------

12. Called up share capital

Issued, called up and fully paid

	2025		2024
	No.	£	No.	£
Ordinary shares of £ 1 each	24,000	24,000	24,000	24,000
	--------	--------	--------	--------

13. Related party transactions

Included within other debtors are amounts due to the company from directors. At the year end date the amount due from Mr J G T Edwards was £8,088 (2024 - £8,088), the amount due from Mr G S Fowke was £8,473 (2024 - £8,473), the amount due from Mr S A McKane was £11,449 (2024 - £9,449) and the amount due from Mr R P C Coomer was £10,377 (2024 - £10,377). Dividends paid to directors in their capacity as shareholders during the year totalled £175,000 (2024 - £252,000).