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REGISTERED NUMBER: 01597410 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

COBAL SIGN SYSTEMS LIMITED

COBAL SIGN SYSTEMS LIMITED (Registered number: 01597410)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


COBAL SIGN SYSTEMS LIMITED

Company Information
for the Year Ended 31 December 2023







DIRECTORS: Philip Charles Ball
Lisa Maria Ball





SECRETARY: Lisa Maria Ball





REGISTERED OFFICE: Brookway
Hambridge Lane
Newbury
Berkshire
RG14 5PE





REGISTERED NUMBER: 01597410 (England and Wales)






COBAL SIGN SYSTEMS LIMITED (Registered number: 01597410)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 63,961 80,172

CURRENT ASSETS
Stocks and work in progress 198,170 339,701
Debtors 5 351,989 263,207
Cash at bank and in hand 316,295 127,535
866,454 730,443
CREDITORS
Amounts falling due within one year 6 (504,713 ) (485,124 )
NET CURRENT ASSETS 361,741 245,319
TOTAL ASSETS LESS CURRENT
LIABILITIES

425,702

325,491

CREDITORS
Amounts falling due after more than one
year

7

(76,499

)

(129,998

)
NET ASSETS 349,203 195,493

CAPITAL AND RESERVES
Called up share capital 9 18,072 18,072
Share premium 10,505 10,505
Capital redemption reserve 6,928 6,928
Retained earnings 313,698 159,988
SHAREHOLDERS' FUNDS 349,203 195,493

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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.

COBAL SIGN SYSTEMS LIMITED (Registered number: 01597410)

Balance Sheet - continued
31 December 2023


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 4 April 2024 and were signed on its behalf by:





Philip Charles Ball - Director


COBAL SIGN SYSTEMS LIMITED (Registered number: 01597410)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

COBAL SIGN SYSTEMS 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.

The presentation currency of the financial statements is 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.

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
Plant and machinery -20% on cost (HP Assets) and 15% Reducing balance
Fixtures and fittings -20% on cost
Motor vehicles -35% Reducing balance
Computer & office equipment -35% Reducing balance

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


COBAL SIGN SYSTEMS LIMITED (Registered number: 01597410)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 25 (2022 - 25 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 January 2023 14,407 156,533 3,916
Additions - 6,044 -
Disposals - - -
At 31 December 2023 14,407 162,577 3,916
DEPRECIATION
At 1 January 2023 14,407 111,933 3,916
Charge for year - 8,890 -
At 31 December 2023 14,407 120,823 3,916
NET BOOK VALUE
At 31 December 2023 - 41,754 -
At 31 December 2022 - 44,600 -

COBAL SIGN SYSTEMS LIMITED (Registered number: 01597410)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 January 2023 47,023 72,718 294,597
Additions - - 6,044
Disposals - (1,408 ) (1,408 )
At 31 December 2023 47,023 71,310 299,233
DEPRECIATION
At 1 January 2023 34,071 50,098 214,425
Charge for year 4,533 7,424 20,847
At 31 December 2023 38,604 57,522 235,272
NET BOOK VALUE
At 31 December 2023 8,419 13,788 63,961
At 31 December 2022 12,952 22,620 80,172

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 January 2023 99,803
Reclassification/transfer (79,808 )
At 31 December 2023 19,995
DEPRECIATION
At 1 January 2023 60,745
Charge for year 3,999
Reclassification/transfer (52,747 )
At 31 December 2023 11,997
NET BOOK VALUE
At 31 December 2023 7,998
At 31 December 2022 39,058

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 293,911 230,816
Prepayments 58,078 32,391
351,989 263,207

COBAL SIGN SYSTEMS LIMITED (Registered number: 01597410)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 49,000 49,000
Hire purchase contracts 4,499 11,639
Trade creditors 165,711 192,494
Social security and other taxes 14,370 31,589
VAT 92,711 130,113
Other creditors 41,904 168
Directors' current accounts - 2,163
Accrued expenses 136,518 67,958
504,713 485,124

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Bank loans more 5 yr by instal 73,500 122,500
Hire purchase contracts 2,999 7,498
76,499 129,998

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 73,500 122,500

8. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Bank loans 122,500 171,500

The bank has a fixed and floating charge against the assets of the company.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
18,072 Ordinary 1 18,072 18,072

10. PENSION COMMITMENTS

The company operates defined contributions pension schemes for its directors & employees. The contributions to all schemes are held in separably administered funds. During the year the company made total contributions of £22,743 (2022 £20,869) to the funds, of which £5,031 (2022 £5,171) were outstanding at the year end.

COBAL SIGN SYSTEMS LIMITED (Registered number: 01597410)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

11. OTHER FINANCIAL COMMITMENTS

At 31 December 2023, the company had total commitments under non-cancellable operating leases which are not included in the balance sheet of £51,375 (2022 £32,152).