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REGISTERED NUMBER: 10170022 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 May 2022

for

Coin Equity Ltd

Coin Equity Ltd (Registered number: 10170022)






Contents of the Financial Statements
for the Year Ended 30 May 2022




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Coin Equity Ltd

Company Information
for the Year Ended 30 May 2022







DIRECTORS: Mr Ian Phillip Welsh
Mr David Woolf





REGISTERED OFFICE: Flat 5
2 Gloucester Gate
London
NW1 4HG





REGISTERED NUMBER: 10170022 (England and Wales)






Coin Equity Ltd (Registered number: 10170022)

Statement of Financial Position
30 May 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,788 2,552
Investments 5 125,200 125,200
126,988 127,752

CURRENT ASSETS
Debtors 6 2,207,029 1,844,083
Cash at bank and in hand 16,290 5,503
2,223,319 1,849,586
CREDITORS
Amounts falling due within one year 7 98,614 68,086
NET CURRENT ASSETS 2,124,705 1,781,500
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,251,693

1,909,252

CREDITORS
Amounts falling due after more than one year 8 2,068,403 1,730,377
NET ASSETS 183,290 178,875

CAPITAL AND RESERVES
Called up share capital 9 100,000 100,000
Retained earnings 83,290 78,875
SHAREHOLDERS' FUNDS 183,290 178,875

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 May 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 May 2022 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.

Coin Equity Ltd (Registered number: 10170022)

Statement of Financial Position - continued
30 May 2022


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 6 October 2023 and were signed on its behalf by:




Mr David Woolf - Director



Mr Ian Phillip Welsh - Director


Coin Equity Ltd (Registered number: 10170022)

Notes to the Financial Statements
for the Year Ended 30 May 2022

1. STATUTORY INFORMATION

Coin Equity Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Turnover
Turnover is measured at the fair value of the interest 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 the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery etc - 20% on cost

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

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 statement of financial position date.


Coin Equity Ltd (Registered number: 10170022)

Notes to the Financial Statements - continued
for the Year Ended 30 May 2022

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

Impairment of fixed assets
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.

For the purposes of impairment testing, 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 largely independent of the cash inflows from other assets or groups of assets.

For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2021 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 31 May 2021
and 30 May 2022 3,821
DEPRECIATION
At 31 May 2021 1,269
Charge for year 764
At 30 May 2022 2,033
NET BOOK VALUE
At 30 May 2022 1,788
At 30 May 2021 2,552

Coin Equity Ltd (Registered number: 10170022)

Notes to the Financial Statements - continued
for the Year Ended 30 May 2022

5. FIXED ASSET INVESTMENTS
Interest
Shares in in other
group participating
undertakings interests Totals
£    £    £   
COST
At 31 May 2021
and 30 May 2022 200 125,000 125,200
NET BOOK VALUE
At 30 May 2022 200 125,000 125,200
At 30 May 2021 200 125,000 125,200

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 199,234 120,756
Amounts owed by participating interests 891,771 556,399
Other debtors 1,116,024 1,166,928
2,207,029 1,844,083

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts 41,188 8,935
Amounts owed to participating interests 19,999 19,999
Taxation and social security 4,314 5,940
Other creditors 33,113 33,212
98,614 68,086

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2022 2021
£    £   
Bank loans - 41,126
Other creditors 2,068,403 1,689,251
2,068,403 1,730,377

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: £    £   
1,000 Ordinary 1 100,000 100,000

Coin Equity Ltd (Registered number: 10170022)

Notes to the Financial Statements - continued
for the Year Ended 30 May 2022

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the year ended 30 May 2022 and the period ended 30 May 2021:

2022 2021
£    £   
Mr David Woolf
Balance outstanding at start of year 22,187 91,487
Amounts repaid - (69,300 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 22,187 22,187

Mr Ian Phillip Welsh
Balance outstanding at start of year 1,426 31,125
Amounts advanced 860 42,201
Amounts repaid (959 ) (71,900 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 1,327 1,426

11. RELATED PARTY DISCLOSURES

Included in other debtors is an amount due from Coin Projects Ltd of £616,848 (2021: £556,399) & Coin Fintech Ltd of £274,923 (2021: £Nil), both for which Mr I Welsh is a director.