Ann's Cottage (Warehouse) Limited


Directors	Mrs R Cornelius
	Mrs E C Doney


Registered Address	Unit 4 Higher Pityme Farm Pityme Business Centre
	St. Minver
	Wadebridge
	PL27 6NU


Registered Number	05231649 (England and Wales)

Balance Sheet as at
31 March 2026

	Notes	2026		2025
		£	£	£	£
Fixed assets
Tangible assets	3		153,284		220,891
			153,284		220,891
Current assets
Stocks	4	3,045,896		3,098,069
Debtors		2,470,701		3,301,194
Cash at bank and on hand		537,041		163,168
		6,053,638		6,562,431
Creditors amounts falling due within one year	5	(4,007,149)		(4,639,463)
Net current assets (liabilities)			2,046,489		1,922,968
Total assets less current liabilities			2,199,773		2,143,859
Provisions for liabilities	6		(34,422)		(50,210)
Net assets			2,165,351		2,093,649
Capital and reserves
Called up share capital			2		2
Profit and loss account			2,165,349		2,093,647
Shareholders' funds			2,165,351		2,093,649

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Board of Directors on 7 September 2026, and are signed on its behalf by:

Mrs R Cornelius
Director
Registered Company No. 05231649

Ann's Cottage (Warehouse) Limited

Notes to the Financial Statements
for the year ended 31 March 2026

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.

	Revenue from sale of goods
	Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.

Revenue from sale of goods

Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.

	Employee benefits
	Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.

Employee benefits

Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Deferred tax
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Tangible fixed assets and depreciation
	All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Tangible fixed assets and depreciation

All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:


	Reducing balance (%)	Straight line (years)
Land and buildings	-	15
Fixtures and fittings	25	-
Vehicles	25	-
Office Equipment	25	-

	Stocks and work in progress
	Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.

Stocks and work in progress

Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss.

Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.

2.	Average number of employees


		2026		2025
	Average number of employees during the year	21		23

3.	Tangible fixed assets

	Land & buildings	Vehicles	Fixtures & fittings	Office Equipment	Total
	£	£	£	£	£
Cost or valuation
At 01 April 25	90,034	397,238	241,307	454,906	1,183,485
Disposals	-	(40,263)	-	-	(40,263)
At 31 March 26	90,034	356,975	241,307	454,906	1,143,222
Depreciation and impairment
At 01 April 25	74,772	263,803	220,952	403,067	962,594
Charge for year	4,168	29,348	5,089	12,960	51,565
On disposals	-	(24,221)	-	-	(24,221)
At 31 March 26	78,940	268,930	226,041	416,027	989,938
Net book value
At 31 March 26	11,094	88,045	15,266	38,879	153,284
At 31 March 25	15,262	133,435	20,355	51,839	220,891

4.	Stocks

	2026	2025
	£	£
Other stocks	3,045,896	3,098,069
Total	3,045,896	3,098,069

5.	Creditors: amounts due within one year

	2026	2025
	£	£
Trade creditors / trade payables	1,599,955	2,127,436
Taxation and social security	41,079	32,945
Other creditors	2,363,052	2,476,067
Accrued liabilities and deferred income	3,063	3,015
Total	4,007,149	4,639,463

6.	Provisions for liabilities

	2026	2025
	£	£
Net deferred tax liability (asset)	34,422	50,210
Total	34,422	50,210

7.	Related party transactions
	- Transactions with associates Ann's Cottage (Warehouse) Limited has transacted with associated entities. During the period, sales were made to the value of £7,464,509 (2025 - £9,219,382). At the balance sheet date, the amount due from associated entities was £1,627,726 (2025 - £1,494,243) and the amount owed to associated entities was £2,342,867 (2025 - £2,460,127). At the balance sheet date trade receivable balances of £359,589 (2025 - £1,388,948) were owed to the company by associated entities. Management charges of £191,333 (2025 - £140,935) were charged to the associated entities in the year. The company is a lessee of one of its sites from an associated entity. During the year rents of £18,000 (2025 - £18,000) were paid to the entity. - Transactions with directors The net movement in the directors loan during the year was a decrease of £585. The balance due to the directors at the year end was £1,356 (2025 - £1,941). The loan is non interest bearing and repayable on demand. - Summary of transactions with other related parties During the year the company entered into the following transactions with related parties: The company is a lessee of one of its sites from Mrs R Cornelius and Mrs E Doney. During the year rents of £120,000 (2025 - £140,000) were paid.

Related party transactions

- Transactions with associates

Ann's Cottage (Warehouse) Limited has transacted with associated entities.

During the period, sales were made to the value of £7,464,509 (2025 - £9,219,382). At the 
balance sheet date, the amount due from associated entities was £1,627,726 (2025 -
£1,494,243) and the amount owed to associated entities was £2,342,867 (2025 - £2,460,127).

At the balance sheet date trade receivable balances of £359,589 (2025 - £1,388,948) were 
owed to the company by associated entities.

Management charges of £191,333 (2025 - £140,935) were charged to the associated entities in 
the year.

The company is a lessee of one of its sites from an associated entity. During the year rents of 
£18,000 (2025 - £18,000) were paid to the entity.

- Transactions with directors

The net movement in the directors loan during the year was a decrease of £585. The 
balance due to the directors at the year end was £1,356 (2025 - £1,941). The loan is non 
interest bearing and repayable on demand.

- Summary of transactions with other related parties

During the year the company entered into the following transactions with related parties:

The company is a lessee of one of its sites from Mrs R Cornelius and Mrs E Doney. During the 
year rents of £120,000 (2025 - £140,000) were paid.