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COMPANY REGISTRATION NUMBER: 10629774
Cocuun Limited
Filleted Unaudited Financial Statements
31 December 2023
Cocuun Limited
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
£
£
Fixed assets
Tangible assets
5
58,185
27,826
Current assets
Stocks
498,629
240,310
Debtors
6
407,824
266,455
Cash at bank and in hand
414,780
71,652
------------
---------
1,321,233
578,417
Creditors: amounts falling due within one year
7
423,069
312,534
------------
---------
Net current assets
898,164
265,883
---------
---------
Total assets less current liabilities
956,349
293,709
Creditors: amounts falling due after more than one year
8
842,564
264,809
---------
---------
Net assets
113,785
28,900
---------
---------
Capital and reserves
Called up share capital
9
1,667
1,667
Share premium account
189,652
189,652
Capital redemption reserve
333
333
Profit and loss account
( 77,867)
( 162,752)
---------
---------
Shareholders funds
113,785
28,900
---------
---------
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 Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Cocuun Limited
Statement of Financial Position (continued)
31 December 2023
These financial statements were approved by the board of directors and authorised for issue on 12 March 2024 , and are signed on behalf of the board by:
Mr P B Luen
Director
Company registration number: 10629774
Cocuun Limited
Notes to the Financial Statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 1st Floor, Pheonix House, 3, South Parade, Leeds, LS1 5QX.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Motor vehicles
-
25% straight line
Equipment
-
10% straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 17 (2022: 15 ).
5. Tangible assets
Motor vehicles
Equipment
Total
£
£
£
Cost
At 1 January 2023
26,980
6,219
33,199
Additions
43,900
7,043
50,943
Disposals
( 13,490)
( 13,490)
--------
--------
--------
At 31 December 2023
57,390
13,262
70,652
--------
--------
--------
Depreciation
At 1 January 2023
4,047
1,326
5,373
Charge for the year
7,848
1,606
9,454
Disposals
( 2,360)
( 2,360)
--------
--------
--------
At 31 December 2023
9,535
2,932
12,467
--------
--------
--------
Carrying amount
At 31 December 2023
47,855
10,330
58,185
--------
--------
--------
At 31 December 2022
22,933
4,893
27,826
--------
--------
--------
Finance leases and hire purchase contracts
Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:
Motor vehicles
£
At 31 December 2023
----
At 31 December 2022
22,933
--------
6. Debtors
2023
2022
£
£
Trade debtors
374,070
229,547
Other debtors
33,754
36,908
---------
---------
407,824
266,455
---------
---------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
8,413
33,333
Trade creditors
209,983
137,201
Accruals and deferred income
3,000
73,305
Social security and other taxes
188,014
50,308
Obligations under finance leases and hire purchase contracts
5,804
4,385
Other creditors
7,855
14,002
---------
---------
423,069
312,534
---------
---------
8. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
8,413
Obligations under finance leases and hire purchase contracts
42,804
21,269
Director loan accounts
799,760
235,127
---------
---------
842,564
264,809
---------
---------
9. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary shares of £ 1 each
1,667
1,667
1,667
1,667
-------
-------
-------
-------
10. Directors' advances, credits and guarantees
During the year there were no director's advances, credits and guarantees.