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REGISTERED NUMBER: 01842892 (England and Wales)










Unaudited Financial Statements

for the Year Ended 31 December 2021

for

COBALT LIMITED

COBALT LIMITED (REGISTERED NUMBER: 01842892)






Contents of the Financial Statements
for the Year Ended 31 December 2021




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


COBALT LIMITED

Company Information
for the Year Ended 31 December 2021







DIRECTORS: Mr A S Cornish
Mr R Sargent





SECRETARIES: Mr A S Cornish
Mr R Sargent





REGISTERED OFFICE: 9 St Marks Road
Bromley
Kent
BR2 9HG





REGISTERED NUMBER: 01842892 (England and Wales)





ACCOUNTANTS: Maths Partnership
1 Brook Court
Blakeney Road
Beckenham
Kent
BR3 1HG

COBALT LIMITED (REGISTERED NUMBER: 01842892)

Balance Sheet
31 December 2021

31.12.21 31.12.20
Notes £    £    £    £   
FIXED ASSETS
Investments 4 2,121,216 2,121,216
Investment property 5 17,884,528 13,871,536
20,005,744 15,992,752

CURRENT ASSETS
Debtors 6 5,186,184 6,182,472
Cash at bank 1,714,482 1,041,563
6,900,666 7,224,035
CREDITORS
Amounts falling due within one year 7 2,325,452 4,023,181
NET CURRENT ASSETS 4,575,214 3,200,854
TOTAL ASSETS LESS CURRENT
LIABILITIES

24,580,958

19,193,606

CREDITORS
Amounts falling due after more than one year 8 (7,300,418 ) (4,935,172 )

PROVISIONS FOR LIABILITIES (927,920 ) (705,224 )
NET ASSETS 16,352,620 13,553,210

CAPITAL AND RESERVES
Called up share capital 620 620
Fair value reserve 10 4,742,753 4,742,753
Retained earnings 11,609,247 8,809,837
SHAREHOLDERS' FUNDS 16,352,620 13,553,210

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 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.

COBALT LIMITED (REGISTERED NUMBER: 01842892)

Balance Sheet - continued
31 December 2021


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 August 2022 and were signed on its behalf by:





Mr A S Cornish - Director


COBALT LIMITED (REGISTERED NUMBER: 01842892)

Notes to the Financial Statements
for the Year Ended 31 December 2021

1. STATUTORY INFORMATION

Cobalt 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents the value of work carried out during the year, net of Value Added Tax.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2020 - NIL).

COBALT LIMITED (REGISTERED NUMBER: 01842892)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

4. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 January 2021
and 31 December 2021 2,121,216
NET BOOK VALUE
At 31 December 2021 2,121,216
At 31 December 2020 2,121,216

Cost or valuation at 31 December 2021 is represented by:

Other
investments
£   
Valuation in 2021 2,116,214
Cost 5,002
2,121,216

If investments had not been revalued they would have been included at the following historical cost:

31.12.21 31.12.20
£    £   
Cost 5,002 5,002

Other investments were valued on an open market basis on 31 December 2021 by the directors .

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2021 13,871,536
Additions 5,010,893
Disposals (997,901 )
At 31 December 2021 17,884,528
NET BOOK VALUE
At 31 December 2021 17,884,528
At 31 December 2020 13,871,536

COBALT LIMITED (REGISTERED NUMBER: 01842892)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

5. INVESTMENT PROPERTY - continued

Fair value at 31 December 2021 is represented by:
£   
Valuation in 2021 3,521,292
Cost 14,363,236
17,884,528

If investment properties had not been revalued they would have been included at the following historical cost:

31.12.21 31.12.20
£    £   
Cost 14,363,236 10,350,244

Investment property was valued on an open market basis on 31 December 2021 by the directors .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.21 31.12.20
£    £   
Trade debtors 36,583 78,798
Amounts owed by participating interests 2,787,766 2,737,766
Other debtors 2,361,835 3,365,908
5,186,184 6,182,472

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.21 31.12.20
£    £   
Bank loans and overdrafts 310,148 274,498
Trade creditors 24,339 11,403
Amounts owed to group undertakings 10,415 440
Taxation and social security 102,558 105,716
Other creditors 1,877,992 3,631,124
2,325,452 4,023,181

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.21 31.12.20
£    £   
Bank loans 7,300,418 4,935,172

Amounts falling due in more than five years:

Repayable by instalments
Bank loan over 5 years - 179,224

COBALT LIMITED (REGISTERED NUMBER: 01842892)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2021

9. SECURED DEBTS

The following secured debts are included within creditors:

31.12.21 31.12.20
£    £   
Bank loans 7,610,566 5,209,670

The commercial bank mortgages are secured on various freehold & leasehold properties owned by the company and are repayable by instalments.The company also has a debenture with its bankers which guarantees the bank borrowings of Cobalt Ltd as well as other security held by the banks

10. RESERVES
Fair
value
reserve
£   
At 1 January 2021
and 31 December 2021 4,742,753