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REGISTERED NUMBER: 12309068 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 November 2023

for

Cosmo Property Investment Ltd

Cosmo Property Investment Ltd (Registered number: 12309068)






Contents of the Financial Statements
for the Year Ended 30 November 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Cosmo Property Investment Ltd

Company Information
for the Year Ended 30 November 2023







DIRECTOR: Z Wang





REGISTERED OFFICE: 67 Richmond House
Bonfire Corner
Portsmouth
PO1 3FN





REGISTERED NUMBER: 12309068 (England and Wales)





ACCOUNTANTS: GiLon
Chartered Certified Accountants
6 Chislett Row
Chelmsford
Essex
CM2 9QS

Cosmo Property Investment Ltd (Registered number: 12309068)

Balance Sheet
30 November 2023

30.11.23 30.11.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 140 1,232
Investment property 5 203,000 205,000
203,140 206,232

CURRENT ASSETS
Debtors 6 12,357 703
Cash at bank 2,174 2,936
14,531 3,639
CREDITORS
Amounts falling due within one year 7 120,897 103,997
NET CURRENT LIABILITIES (106,366 ) (100,358 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

96,774

105,874

CREDITORS
Amounts falling due after more than one year 8 135,197 135,197
NET LIABILITIES (38,423 ) (29,323 )

CAPITAL AND RESERVES
Called up share capital 10 10 10
Fair value reserve (19,509 ) (17,509 )
Retained earnings (18,924 ) (11,824 )
SHAREHOLDERS' FUNDS (38,423 ) (29,323 )

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

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

The director acknowledges his 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.

Cosmo Property Investment Ltd (Registered number: 12309068)

Balance Sheet - continued
30 November 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 director and authorised for issue on 30 January 2024 and were signed by:





Z Wang - Director


Cosmo Property Investment Ltd (Registered number: 12309068)

Notes to the Financial Statements
for the Year Ended 30 November 2023

1. STATUTORY INFORMATION

Cosmo Property Investment Ltd 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.

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 as modified by the revaluation of certain assets.

Going concern
The financial statements have been prepared on the going concern basis which assumes that the company will continue in operation for the foreseeable future.The director, who is the major creditors, has confirmed that he will continue to make such funds as are needed by the company and in particular will not seek repayment of the amounts currently made available that would otherwise place the company in insolvency.

Based on this undertaking the director believes that the company will have sufficient resources to enable it to continue normal trading operations for a period of at least twelve months from the date of approval of these financial statements, and therefore it is appropriate to prepare the financial statements on a going concern basis.

Turnover
Turnover represents rents receivable during the period from investment property in accordance with the company's lease agreement with its tenants.

Property acquisitions and disposals are accounted for when legally binding contracts which are irrecoverable and effectively unconditional are exchanged and, in the case of disposals, where completion has taken place prior to the date on which the financial statements are approved.

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 - 25% on cost
Computer equipment - 25% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.


Cosmo Property Investment Ltd (Registered number: 12309068)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

2. ACCOUNTING POLICIES - continued
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 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 December 2022
and 30 November 2023 3,807 560 4,367
DEPRECIATION
At 1 December 2022 2,855 280 3,135
Charge for year 952 140 1,092
At 30 November 2023 3,807 420 4,227
NET BOOK VALUE
At 30 November 2023 - 140 140
At 30 November 2022 952 280 1,232

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 December 2022 205,000
Revaluations (2,000 )
At 30 November 2023 203,000
NET BOOK VALUE
At 30 November 2023 203,000
At 30 November 2022 205,000

Cosmo Property Investment Ltd (Registered number: 12309068)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

5. INVESTMENT PROPERTY - continued

The company's investment property was valued by the director on a fair value of existing use basis as at 30 November 2023.

The historical cost of the investment property at the balance sheet date amounted to £222,509 (2022 - £222,509).

The investment property has been provided for security for bank loan.

6. DEBTORS
30.11.23 30.11.22
£    £   
Amounts falling due within one year:
Other debtors 3,975 703

Amounts falling due after more than one year:
Other debtors 8,382 -

Aggregate amounts 12,357 703

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Other creditors 120,897 103,997

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.11.23 30.11.22
£    £   
Bank loans 135,197 135,197

9. SECURED DEBTS

The aggregate amount of creditor for which security has been given amounted to £135,197 (2022 - £135,197) and is secured by a legal charge on the company's investment property.

Bank loan include repayment instalment of £135,197 (2022 - £135,197) not wholly repayable within 5 years.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.11.23 30.11.22
value: £    £   
10 Ordinary £1 10 10

Cosmo Property Investment Ltd (Registered number: 12309068)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

11. RELATED PARTY DISCLOSURES

At the balance sheet date, the director, Z Wang had provided personal guarantees in respect of bank borrowings totalling £135,197 (2022 - £135,197).

At the balance sheet date the balance due to the director was £120,397 (2022 - £103,547).