REGISTERED NUMBER: 06676717 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2025

FOR

COATES AND SEELY LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

N Coates

C J R Seely

N Bloy

REGISTERED OFFICE:

Harroway

Whitchurch

Hampshire

RG28 7QT

REGISTERED NUMBER:

06676717 (England and Wales)

ACCOUNTANTS:

Martin and Company

25 St Thomas Street

Winchester

Hampshire

SO23 9HJ

FIXED ASSETS

Tangible assets

4

3,689,850

3,633,465

CURRENT ASSETS

Stocks

1,941,841

1,992,803

Debtors

5

148,473

179,055

Cash at bank

50,207

36,093

2,140,521

2,207,951

CREDITORS

Amounts falling due within one year

6

128,833

147,711

NET CURRENT ASSETS

2,011,688

2,060,240

TOTAL ASSETS LESS CURRENT LIABILITIES

5,701,538

5,693,705

CREDITORS

Amounts falling due after more than one year

7

6,560,092

6,456,716

NET LIABILITIES

(858,554

)

(763,011

)

CAPITAL AND RESERVES

Called up share capital

90,002

90,002

Retained earnings

(948,556

)

(853,013

)

SHAREHOLDERS' FUNDS

(858,554

)

(763,011

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21st September 2026 and were signed on its behalf by:

N Coates - Director

1.	STATUTORY INFORMATION

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

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

33.33% straight line, 25% on reducing balance, 10% on reducing balance, 4% on cost and 10% straight line

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern

The balance sheet is showing a position of net liabilities; the accounts are prepared on the going concern basis due to the continued support of the shareholders and directors.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2024 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Freehold

to

Plant and

property

property

machinery

£

£

£

COST

At 1st January 2025

2,290,759

135,407

615,362

Additions

-

3,240

6,593

At 31st December 2025

2,290,759

138,647

621,955

DEPRECIATION

At 1st January 2025

-

99,251

364,579

Charge for year

-

8,541

25,748

At 31st December 2025

-

107,792

390,327

NET BOOK VALUE

At 31st December 2025

2,290,759

30,855

231,628

At 31st December 2024

2,290,759

36,156

250,783

Motor

Vines

vehicles

Totals

£

£

£

COST

At 1st January 2025

1,097,886

134,182

4,273,596

Additions

144,811

-

154,644

At 31st December 2025

1,242,697

134,182

4,428,240

DEPRECIATION

At 1st January 2025

99,168

77,133

640,131

Charge for year

49,708

14,262

98,259

At 31st December 2025

148,876

91,395

738,390

NET BOOK VALUE

At 31st December 2025

1,093,821

42,787

3,689,850

At 31st December 2024

998,718

57,049

3,633,465

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

144,995

176,460

Other debtors

3,478

2,595

148,473

179,055

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

24,998

30,000

Trade creditors

71,323

83,701

Taxation and social security

10,100

18,875

Other creditors

22,412

15,135

128,833

147,711

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

7,499

34,123

Shareholder Loans

6,552,593

6,422,593

6,560,092

6,456,716

8.	RELATED PARTY DISCLOSURES

Included within Creditors amounts falling due after more than one year (long term creditors) are three categories of Subordinated Shareholder Loans.

The first of these, in an amount of £2,513,386 (2024 - £2,513,386) is represented by Subordinated Founder Shareholder Loans of no fixed maturity. These Subordinated loans bear no interest, have no covenants and no events of default.

The second category is a Subordinated Shareholder PIK Loan, in an amount of £1,250,000 (2024 - £1,250,000), which ranks senior to the Founder Shareholder Subordinated Loans but Subordinated to any existing or future Senior Loans. This Shareholder Loan attracts Pay-in-Kind interest at 5%, is repayable in 2029, and is redeemable through the issue of equity or further Subordinated Shareholder Loans at the option of the lender.

The third category comprises four Subordinated Shareholder PIK Loans in a combined amount of £2.650,000 (2024 - £2,650,000), which rank pari passu with the second category of Subordinated Shareholder Loan. These Shareholder Loans attract Pay-in-Kind interest at 7.5% and are repayable in 2032/33.

Neither category of the Subordinated Shareholder PIK Loans have any financial covenants or events of default.

As at 31 December 2025, the accrued interest on all Subordinated Shareholder PIK Loans amounted to £1,100,000.