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Registered Number: SC633270
Scotland

 

 

 

COSY CLOUDS MOTOR TRADE LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 July 2022

End date: 30 June 2023
Director Ewelina Chin
Registered Number SC633270
Registered Office 96 Wallace Crescent
Plean
Stirling
FK7 8DG
Accountants EWELINA CHIN
96 Wallace Crescent
Plean
Stirling
Stirlingshire
FK7 8DG
1
Director's report and financial statements
The directors present his/her/their annual report and the financial statements for the year ended 30 June 2023.
Principal activities
Principal activity of the company during the financial year was of nationwide guide tours and business coaching.
Directors
The directors who served the company throughout the year were as follows:
Shares (%)
Ewelina Chin (from 10/06/2022)100.00
Statement of directors' responsibilities
The directors are responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations and in accordance with United Kingdom Generally Accepted Accounting Practice.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (Financial Reporting Standard 102). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.
In preparing these financial statements, the directors are required to :
  • select suitable accounting policies and then apply them consistently
  • make judgements and accounting estimates that are reasonable and prudent
  • state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements and
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The directors are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom, governing the preparation and dissemination of financial statements, may differ from legislation in other jurisdictions

This report was approved by the board and signed on its behalf by:


----------------------------------
Ewelina Chin
Director

Date approved: 19 December 2023
2
Accountant’s report
You consider that the company is exempt from an audit for the year ended 30 June 2023 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
EWELINA CHIN
30 June 2023



....................................................
EWELINA CHIN
96 Wallace Crescent
Plean
Stirling
Stirlingshire
FK7 8DG
19 December 2023
3
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 28,358    903 
28,358    903 
Current assets      
Debtors 4 100    100 
Cash at bank and in hand 4,072    5,735 
4,172    5,835 
Creditors: amount falling due within one year 5 (51,966)   (5,176)
Net current liabilities (47,794)   659 
 
Total assets less current liabilities (19,436)   1,562 
Net liabilities (19,436)   1,562 
 

Capital and reserves
     
Reserves 6 100    100 
Profit and loss account (19,536)   1,462 
Shareholder's funds (19,436)   1,562 
 


For the year ended 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
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 the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 19 December 2023 and were signed on its behalf by:


-------------------------------
Ewelina Chin
Director
4
  Share options reserve   Retained Earnings   Total
£ £ £
At 01 July 2021 1,209  1,209 
Profit for the year 253  253 
Equity-settled share-based payments in year 100  100 
Total comprehensive income for the year 100  253  353 
Total investments by and distributions to owners
At 30 June 2022 100  1,462  1,562 
At 01 July 2022 100  1,462  1,562 
Profit for the year (20,998) (20,998)
Total comprehensive income for the year (20,998) (20,998)
Total investments by and distributions to owners
At 30 June 2023 100  (19,536) (19,436)
5
General Information
COSY CLOUDS MOTOR TRADE LTD is a private company, limited by shares, registered in Scotland, registration number SC633270, registration address 96 Wallace Crescent, Plean, Stirling, FK7 8DG.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
2.

Average number of employees

Average number of employees during the year was 0 (2022 : 0).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £   £
At 01 July 2022   2,890        2,890 
Additions 25,000    4,200    220    166    29,586 
Disposals        
At 30 June 2023 25,000    7,090    220    166    32,476 
Depreciation
At 01 July 2022   1,987        1,987 
Charge for year 1,045    1,018      68    2,131 
On disposals        
At 30 June 2023 1,045    3,005      68    4,118 
Net book values
Closing balance as at 30 June 2023 23,955    4,085    220    98    28,358 
Opening balance as at 01 July 2022   903        903 


4.

Debtors: amounts falling due within one year

2023
£
  2022
£
Called up Share Capital Not Paid 100    100 
100    100 

5.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors 9,775   
Bank Loans & Overdrafts (Secured) 3,732    5,116 
Bank Loans & Overdrafts 38,400   
Corporation Tax 59    59 
Other Creditors   1 
51,966    5,176 

6.

Share Capital

Authorised
100 Class A shares of £1.00 each
Allotted, called up and fully paid
2023
£
  2022
£
100 Class A shares of £1.00 each 100    100 
100    100 

7.

Reserves

2023
£
  2022
£
Share Options Reserve b/fwd 100   
Equity-Settled Share-Based Payments in Year   100 
100    100 

6