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COMPANY REGISTRATION NUMBER: 13359985
Cocoapod (Oxford) Limited
Filleted Unaudited Financial Statements
30 April 2023
Cocoapod (Oxford) Limited
Statement of Financial Position
30 April 2023
2023
2022
Note
£
£
Fixed assets
Intangible assets
5
28,500
38,000
Tangible assets
6
8,402
7,016
--------
--------
36,902
45,016
Current assets
Stocks
26,047
18,547
Debtors
7
7,464
9,379
Cash at bank and in hand
40,288
50,138
--------
--------
73,799
78,064
Creditors: amounts falling due within one year
8
110,298
117,924
---------
---------
Net current liabilities
36,499
39,860
--------
--------
Total assets less current liabilities
403
5,156
----
-------
Net assets
403
5,156
----
-------
Capital and reserves
Profit and loss account
403
5,156
----
-------
Shareholders funds
403
5,156
----
-------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Cocoapod (Oxford) Limited
Statement of Financial Position (continued)
30 April 2023
These financial statements were approved by the board of directors and authorised for issue on 1 November 2023 , and are signed on behalf of the board by:
Ms L Boyles
Director
Company registration number: 13359985
Cocoapod (Oxford) Limited
Notes to the Financial Statements
Year ended 30 April 2023
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is 5 Minton Place, Victoria Road, Bicester, Oxon, OX26 6QB.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. 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.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
10% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
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.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
25% reducing balance
Fixtures and fittings
-
25% reducing balance
Equipment
-
25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Defined contribution plans
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.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 6 (2022: 5 ).
5. Intangible assets
Goodwill
£
Cost
At 1 May 2022 and 30 April 2023
47,500
--------
Amortisation
At 1 May 2022
9,500
Charge for the year
9,500
--------
At 30 April 2023
19,000
--------
Carrying amount
At 30 April 2023
28,500
--------
At 30 April 2022
38,000
--------
6. Tangible assets
Plant and machinery
Fixtures and fittings
Equipment
Total
£
£
£
£
Cost
At 1 May 2022
3,995
2,598
2,132
8,725
Additions
3,268
311
298
3,877
-------
-------
-------
--------
At 30 April 2023
7,263
2,909
2,430
12,602
-------
-------
-------
--------
Depreciation
At 1 May 2022
936
485
288
1,709
Charge for the year
1,439
567
485
2,491
-------
-------
-------
--------
At 30 April 2023
2,375
1,052
773
4,200
-------
-------
-------
--------
Carrying amount
At 30 April 2023
4,888
1,857
1,657
8,402
-------
-------
-------
--------
At 30 April 2022
3,059
2,113
1,844
7,016
-------
-------
-------
--------
7. Debtors
2023
2022
£
£
Trade debtors
7,464
9,379
-------
-------
8. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
8,709
5,561
Corporation tax
555
3,282
Social security and other taxes
8,866
9,796
Other creditors
92,168
99,285
---------
---------
110,298
117,924
---------
---------
9. Related party transactions
Included within other creditors is a balance of £90,318 (2022: £97,424) due to the directors. This loan has no set date of repayment and no interest is being charged on the loan.