Cordovan Acquisitions One Limited 30/09/2025 iXBRL

Company registration number: NI692928

Cordovan Acquisitions One Limited

Unaudited filleted abridged financial statements

30 September 2025

Cordovan Acquisitions One Limited

Contents

Directors and other information

Accountants report

Abridged statement of financial position

Notes to the financial statements

Cordovan Acquisitions One Limited

Directors and other information


Directors	Robert Forsyth
	Stephen McClelland
	Ewan John Melvin
	Daniel Anderson	(Resigned 11 October 2024)


Company number	NI692928


Registered office	Unit 1 Bluebuild Business Park
	210 Quarry Heights
	Down
	BT23 7SZ


Accountants	Hill Vellacott
	22 Great Victoria Street
	Belfast
	Co Antirm
	BT2 7BA

Cordovan Acquisitions One Limited

Report to the board of directors on the preparation of the

unaudited statutory financial statements of Cordovan Acquisitions One Limited

Year ended 30 September 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Cordovan Acquisitions One Limited for the year ended 30 September 2025 which comprise the abridged statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of Chartered Accountants Ireland , we are subject to its ethical and other professional requirements which are detailed at www.charteredaccountants.ie.

This report is made solely to the board of directors of Cordovan Acquisitions One Limited, as a body, in accordance with the terms of our engagement letter dated 29 October 2024. Our work has been undertaken solely to prepare for your approval the financial statements of Cordovan Acquisitions One Limited and state those matters that we have agreed to state to the board of directors of Cordovan Acquisitions One Limited as a body, in this report in accordance with the requirements of Chartered Accountants Ireland as detailed at www.charteredaccountants.ie. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Cordovan Acquisitions One Limited and its board of directors as a body for our work or for this report.

It is your duty to ensure that Cordovan Acquisitions One Limited 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 Cordovan Acquisitions One Limited. You consider that Cordovan Acquisitions One Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Cordovan Acquisitions One Limited. 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 financial statements.

Hill Vellacott

Chartered Accountants

22 Great Victoria Street

Belfast

Co Antirm

BT2 7BA

23 June 2026

Cordovan Acquisitions One Limited

Abridged statement of financial position

30 September 2025

Restated

		30/09/25		30/09/24
	Note	£	£	£	£

Fixed assets
Investments	4	9,069,092		9,226,768
		_______		_______
			9,069,092		9,226,768

Current assets
Debtors		152,416		216,265
		_______		_______
		152,416		216,265
Creditors: amounts falling due
within one year	5	( 3,379,988)		( 2,431,571)
		_______		_______
Net current liabilities			( 3,227,572)		( 2,215,306)
			_______		_______
Total assets less current liabilities			5,841,520		7,011,462

Creditors: amounts falling due
after more than one year			( 3,203,125)		( 3,921,875)
			_______		_______
Net assets			2,638,395		3,089,587
			_______		_______

Capital and reserves
Called up share capital			100		100
Share premium account			3,249,910		3,249,910
Profit and loss account			( 611,615)		( 160,423)
			_______		_______
Shareholders funds			2,638,395		3,089,587
			_______		_______

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.

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 comprehensive income has not been delivered.

All of the members have consented to the preparation of the abridged statement of financial position for the current year ending 30 September 2025 in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements were approved by the board of directors and authorised for issue on 23 June 2026 , and are signed on behalf of the board by:

Robert Forsyth

Director

Company registration number: NI692928

Cordovan Acquisitions One Limited

Notes to the financial statements

Year ended 30 September 2025

1. General information

The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is Unit 1 Bluebuild Business Park, 210 Quarry Heights, Down, BT23 7SZ.The principal activity of the company is activities of open-ended investment companies.

2. Statement of compliance

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

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.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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.

Fixed asset investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Impairment

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. 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 are largely independent of the cash inflows from other assets or groups of assets.

Financial instruments

A financial asset or a financial liability is recognised only when the company 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. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4. Investments


		£
	Cost
	At 1 October 2024 and 30 September 2025	9,226,768
		_______
	Impairment
	Impairment loss	157,676
	At 1 October 2024 and 30 September 2025	157,676
		_______
	Carrying amount
	At 30 September 2025	9,069,092
		_______
	At 30 September 2024	9,226,768
		_______

5. Creditors: amounts falling due within one year

Other Creditor loans are secured on the following: Fixed and floating charge, where floating charge covers all the property or undertaking of the company.

6. Prior period errors

There has been an adjustment to the previous year accounts due to additional information becoming apparent. The profit and loss account for the period to 30 September 2024 has decreased by £72,979.

7. Related party transactions

Cordovan Acquisitions One Limited is connected to related parties by virtue of common control from the directors. At the balance sheet date, the amount owed to Cordovan Acquisitions One Limited from related parties was £Nil (2024: £25,907)At the balance sheet date, the amount owed by Cordovan Acquisitions One Limited to related parties was £2,167,431 (2024: £1,928,711).

8. Controlling party

The ultimate parent and controlling party is: Cordovan Capital Management Limited