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Registration number: 06638199

Cosens Consultancy Limited

Annual Report and Unaudited Financial Statements

for the Period from 30 July 2022 to 28 July 2023

 

Cosens Consultancy Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Cosens Consultancy Limited

Company Information

Director

Mr Paul Cosens

Registered office

Longden
22 Morda Close
Oswestry
Shropshire
SY11 2BA

Accountants

McGinty Demack
Chartered Certified Accountants
Vermont House
Bradley Lane
Standish
Lancashire
WN6 0XF

 

Cosens Consultancy Limited

(Registration number: 06638199)
Balance Sheet as at 28 July 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

697

357

Current assets

 

Debtors

5

587

-

Cash at bank and in hand

 

2,001

3,405

 

2,588

3,405

Creditors: Amounts falling due within one year

6

(49,279)

(42,852)

Net current liabilities

 

(46,691)

(39,447)

Total assets less current liabilities

 

(45,994)

(39,090)

Creditors: Amounts falling due after more than one year

6

(7,117)

(9,428)

Net liabilities

 

(53,111)

(48,518)

Capital and reserves

 

Called up share capital

7

10

10

Retained earnings

(53,121)

(48,528)

Shareholders' deficit

 

(53,111)

(48,518)

For the financial period ending 28 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

 

Cosens Consultancy Limited

(Registration number: 06638199)
Balance Sheet as at 28 July 2023

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 27 October 2023
 

.........................................
Mr Paul Cosens
Director

 

Cosens Consultancy Limited

Notes to the Unaudited Financial Statements for the Period from 30 July 2022 to 28 July 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Longden
22 Morda Close
Oswestry
Shropshire
SY11 2BA

The principal place of business is:
Longden
22 Morda Close
Oswestry
Shropshire
SY11 2BA

These financial statements were authorised for issue by the director on 27 October 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

 

Cosens Consultancy Limited

Notes to the Unaudited Financial Statements for the Period from 30 July 2022 to 28 July 2023

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

20% Reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Cosens Consultancy Limited

Notes to the Unaudited Financial Statements for the Period from 30 July 2022 to 28 July 2023

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 1 (2022 - 1).

 

Cosens Consultancy Limited

Notes to the Unaudited Financial Statements for the Period from 30 July 2022 to 28 July 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 30 July 2022

2,693

2,693

Additions

514

514

At 28 July 2023

3,207

3,207

Depreciation

At 30 July 2022

2,336

2,336

Charge for the period

174

174

At 28 July 2023

2,510

2,510

Carrying amount

At 28 July 2023

697

697

At 29 July 2022

357

357

5

Debtors

Current

2023
£

2022
£

Other debtors

587

-

6

Creditors

Creditors: amounts falling due within one year

 

Cosens Consultancy Limited

Notes to the Unaudited Financial Statements for the Period from 30 July 2022 to 28 July 2023

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

1,978

-

Trade creditors

 

33

-

Taxation and social security

 

11,247

10,565

Accruals and deferred income

 

900

1,080

Other creditors

 

35,121

31,207

 

49,279

42,852

 

Cosens Consultancy Limited

Notes to the Unaudited Financial Statements for the Period from 30 July 2022 to 28 July 2023

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

7,117

9,428

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

10

10

10

10

         

8

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

7,117

9,428

2023
£

2022
£

Current loans and borrowings

Bank overdrafts

1,978

-

9

Related party transactions

 

Cosens Consultancy Limited

Notes to the Unaudited Financial Statements for the Period from 30 July 2022 to 28 July 2023

Director's remuneration

The director's remuneration for the period was as follows:

2023
£

2022
£

Remuneration

-

5,159