COTTERELL LIGHT CENTRES LIMITED


Directors	COTTERELL, Lorraine Elizabeth
	HAMILTON, Frederick William Millar


Company Secretary	COTTERELL, Lorraine Elizabeth


Registered Address	Caledonia House
	89 Seaward Street
	Glasgow
	G41 1HJ


Registered Number	SC192594 (Scotland)

Notes to the Financial Statements
for the year ended 30 April 2026

1.	Accounting policies

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

	Basis of preparation
	The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

	Functional and presentation currency
	The financial statements are presented in sterling and this is the functional currency of the company.

	Going concern
	The directors have considered their cashflow position for a period of 12 months from the date of sign off. After consideration of all factors, the directors continue to adopt the going concern basis in preparing the financial statements.

	Judgements and key sources of estimation uncertainty
	In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. These critical accounting judgements and estimations are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

Judgements and key sources of estimation uncertainty

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. These critical accounting judgements and estimations are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

	Turnover policy
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and/or the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.

	Operating leases
	Where, substantially, all the risks and rewards of ownership of the asset do not transfer from the lessor to the company, the lease is treated as an operating lease. Rentals payable under operating leases are charged to the Income Statement on a straight-line basis over the period of the lease. Where the company is a lessor, rental income from operating leases is credited to the Income Statement on a straight-line basis over the lease term.

Operating leases

Where, substantially, all the risks and rewards of ownership of the asset do not transfer from the lessor to the company, the lease is treated as an operating lease. Rentals payable under operating leases are charged to the Income Statement on a straight-line basis over the period of the lease.

Where the company is a lessor, rental income from operating leases is credited to the Income Statement on a straight-line basis over the lease term.

	Defined contribution pension plan
	The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in other creditors in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. 

Contributions to defined contribution plans are expensed in the period to which they relate.  Amounts not paid are shown in other creditors in the Statement of Financial Position.  The assets of the plan are held separately from the company in independently administered funds.

	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 the Income Statement.

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 the Income Statement.

	Current taxation
	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
	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
	Tangible fixed assets are stated at cost or valuation less depreciation. The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement Land and buildings refers to tenants improvements. Depreciation is provided on all tangible fixed assets as follows:

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost or valuation less depreciation. 

The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement

Land and buildings refers to tenants improvements.

Depreciation is provided on all tangible fixed assets as follows:


	Reducing balance (%)	Straight line (years)
Land and buildings	-	15
Plant and machinery	10	-
Fixtures and fittings	15	-
Vehicles	-	4
Office Equipment	-	3

	Stocks and work in progress
	Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).

	Financial instruments
	The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

2.	Average number of employees


		2026		2025
	Average number of employees during the year	21		22

3.	Tangible fixed assets

	Land & buildings	Plant & machinery	Vehicles	Fixtures & fittings	Office Equipment	Total
	£	£	£	£	£	£
Cost or valuation
At 01 May 25	108,744	12,360	62,825	8,271	14,984	207,184
Additions	-	-	-	-	1,225	1,225
Disposals	(108,744)	(1,321)	(48,430)	(1,724)	(2,795)	(163,014)
At 30 April 26	-	11,039	14,395	6,547	13,414	45,395
Depreciation and impairment
At 01 May 25	68,153	10,405	62,825	5,163	14,081	160,627
Charge for year	-	160	-	374	874	1,408
On disposals	(68,153)	(968)	(48,430)	(1,106)	(2,569)	(121,226)
At 30 April 26	-	9,597	14,395	4,431	12,386	40,809
Net book value
At 30 April 26	-	1,442	-	2,116	1,028	4,586
At 30 April 25	40,591	1,955	-	3,108	903	46,557


	Land and buildings referes to tenants improvements.

4.	Stocks

	2026	2025
	£	£
Other stocks	385,908	397,246
Total	385,908	397,246

5.	Debtors: amounts due within one year

	2026	2025
	£	£
Trade debtors / trade receivables	1,009	2,965
Prepayments and accrued income	7,608	6,804
Total	8,617	9,769

6.	Creditors: amounts due within one year

	2026	2025
	£	£
Trade creditors / trade payables	114,402	118,817
Bank borrowings and overdrafts	3,038	30,959
Taxation and social security	105,190	172,825
Other creditors	76,038	108,368
Accrued liabilities and deferred income	3,075	3,526
Total	301,743	434,495

7.	Creditors: amounts due after one year

	2026	2025
	£	£
Bank borrowings and overdrafts	9,899	5,125
Other creditors	100,000	-
Total	109,899	5,125

8.	Operating lease commitments
	At 30 April 2026 the company had future minimum lease payments under non-cancellable operating leases of £160,000 (2025 - £208,000).

9.	Related party transactions
	At the balance sheet date, the amount owed to the directors was £32,192 (2025: £34,219). The amount is included in creditors and is interest free, unsecured with no fixed repayment terms. At the balance sheet date, an amount of £141,312 (2025: £66,634) was owed to a company controlled by the directors. The balance is included within creditors, is unsecured and interest-free. £100,000 is repayable after more than one year and the remaining £41,312 is repayable within one year.

Related party transactions

At the balance sheet date, the amount owed to the directors was £32,192 (2025: £34,219). The amount is included in creditors and is interest free, unsecured with no fixed repayment terms.

At the balance sheet date, an amount of £141,312 (2025: £66,634) was owed to a company controlled by the directors. The balance is included within creditors, is unsecured and interest-free.  £100,000 is repayable after more than one year and the remaining £41,312  is repayable within one year.

	Notes	2026		2025
		£	£	£	£
Fixed assets
Tangible assets	3		4,586		46,557
			4,586		46,557
Current assets
Stocks	4	385,908		397,246
Debtors	5	8,617		9,769
Cash at bank and on hand		8,021		618
		402,546		407,633
Creditors amounts falling due within one year	6	(301,743)		(434,495)
Net current assets (liabilities)			100,803		(26,862)
Total assets less current liabilities			105,389		19,695
Creditors amounts falling due after one year	7		(109,899)		(5,125)
Net assets			(4,510)		14,570
Capital and reserves
Called up share capital			100		100
Profit and loss account			(4,610)		14,470
Shareholders' funds			(4,510)		14,570