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REGISTERED NUMBER: SC632987 (Scotland)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023

FOR

COFINK LTD

COFINK LTD (REGISTERED NUMBER: SC632987)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


COFINK LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2023







DIRECTOR: Professor T G Inns





REGISTERED OFFICE: Troughstone Cottage
Campsie Road
Strathblane
Glasgow
G63 9AB





REGISTERED NUMBER: SC632987 (Scotland)





ACCOUNTANTS: Cornerstone Glasgow Ltd
6th Floor
Gordon Chambers
90 Mitchell Street
Glasgow
Lanarkshire
G1 3NQ

COFINK LTD (REGISTERED NUMBER: SC632987)

BALANCE SHEET
30 JUNE 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,344 2,445

CURRENT ASSETS
Debtors 5 12,450 14,975
Cash at bank 23,583 20,563
36,033 35,538
CREDITORS
Amounts falling due within one year 6 11,236 35,136
NET CURRENT ASSETS 24,797 402
TOTAL ASSETS LESS CURRENT
LIABILITIES

27,141

2,847

PROVISIONS FOR LIABILITIES 586 465
NET ASSETS 26,555 2,382

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 26,554 2,381
26,555 2,382

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

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 director and authorised for issue on 29 January 2024 and were signed by:



Professor T G Inns - Director


COFINK LTD (REGISTERED NUMBER: SC632987)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1. STATUTORY INFORMATION

Cofink Ltd is a private company, limited by shares , registered in Scotland. 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.

Turnover
Turnover is measured at the fair value of the consideration 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 each asset over its estimated useful life.
Fixtures and fittings - 20% on a straight line basis and 20% on a reducing balance basis
Computer equipment - 33% on a straight line basis

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 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 1 (2022 - 1 ) .

COFINK LTD (REGISTERED NUMBER: SC632987)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 July 2022 1,232 7,938 9,170
Additions - 1,725 1,725
At 30 June 2023 1,232 9,663 10,895
DEPRECIATION
At 1 July 2022 515 6,210 6,725
Charge for year 155 1,671 1,826
At 30 June 2023 670 7,881 8,551
NET BOOK VALUE
At 30 June 2023 562 1,782 2,344
At 30 June 2022 717 1,728 2,445

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 8,075 5,475
Prepayments and accrued income 4,375 9,500
12,450 14,975

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 125 837
Tax 10,009 9,393
Social security and other taxes - 25
Directors' current accounts 2 23,608
Accrued expenses 1,100 1,273
11,236 35,136