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Company No: 10855925 (England and Wales)

COBRA SOLUTIONS GROUP LIMITED

Unaudited Financial Statements
For the financial year ended 31 July 2023
Pages for filing with the registrar

COBRA SOLUTIONS GROUP LIMITED

Unaudited Financial Statements

For the financial year ended 31 July 2023

Contents

COBRA SOLUTIONS GROUP LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 July 2023
COBRA SOLUTIONS GROUP LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 July 2023
Note 2023 2022
£ £
Fixed assets
Investments 3 2 2
2 2
Current assets
Debtors
- due within one year 4 19,848 194,674
- due after more than one year 4 441,357 245,371
461,205 440,045
Creditors: amounts falling due within one year 5 ( 441,105) ( 420,959)
Net current assets 20,100 19,086
Total assets less current liabilities 20,102 19,088
Net assets 20,102 19,088
Capital and reserves
Called-up share capital 6 1 1
Profit and loss account 20,101 19,087
Total shareholder's funds 20,102 19,088

For the financial year ending 31 July 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Cobra Solutions Group Limited (registered number: 10855925) were approved and authorised for issue by the Director on 30 July 2024. They were signed on its behalf by:

Christopher Allen James Drake
Director
COBRA SOLUTIONS GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2023
COBRA SOLUTIONS GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 July 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Cobra Solutions Group Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Homefield Barton Venn Ottery Road, Newton Poppleford, Sidmouth, EX10 0BY, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Valuation in investments

Investments in subsidiaries are measured at cost less accumulated impairment.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Fixed asset investments

Investments in subsidiaries

2023
£
Cost
At 01 August 2022 2
At 31 July 2023 2
Carrying value at 31 July 2023 2
Carrying value at 31 July 2022 2

4. Debtors

2023 2022
£ £
Debtors: amounts falling due within one year
Amounts owed by director 19,848 194,674
Debtors: amounts falling due after more than one year
Amounts owed by own subsidiaries 441,357 245,371

5. Creditors: amounts falling due within one year

2023 2022
£ £
Amounts owed to own subsidiaries 439,604 419,684
Accruals 1,501 1,275
441,105 420,959

6. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
1 Ordinary share of £ 1.00 1 1

7. Related party transactions

Transactions with the entity's director

2023 2022
£ £
Dividends 195,000 45,000

During the year, the director maintained a current account with the company. Advances of £74,654 and repayments of £54,480, along with dividends of £195,000 were made during the year. At the year end the director owed the company £19,848 (2022: £194,674). Interest was charged when the loan was overdrawn.

As a Holding Company with wholly owned subsidiaries, the company has taken the advantage of the exemption contained in s. 1AC.35 of FRS102, and not disclosed transactions or balances with wholly owned group entities.