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Company Registration No. 6635750 (England and Wales)
Cosy News Limited Unaudited accounts for the year ended 31 July 2023
Cosy News Limited Unaudited accounts Contents
Page
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Cosy News Limited Company Information for the year ended 31 July 2023
Director
Shahzad Ali Alvi
Company Number
6635750 (England and Wales)
Registered Office
16 St. Georges Way Intu Eldon Square Newcastle Upon Tyne NE2 1RD UK
Accountants
Malik Chopdat & Co 99 Manningham Lane Bradford West Yorkshire BD1 3BN
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Cosy News Limited Accountants' report
Accountants' report to the director of Cosy News Limited on the preparation of the unaudited statutory accounts for the year ended 31 July 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Cosy News Limited for the year ended 31 July 2023 as set out on pages 5 - 7 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of Cosy News Limited, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of Cosy News Limited and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Cosy News Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Cosy News Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Cosy News Limited. You consider that Cosy News Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Cosy News Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Malik Chopdat & Co 99 Manningham Lane Bradford West Yorkshire BD1 3BN 31 July 2023
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Cosy News Limited Statement of financial position as at 31 July 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Intangible assets
- 
4,000 
Tangible assets
15,100 
17,360 
15,100 
21,360 
Current assets
Inventories
59,870 
45,950 
Debtors
15,654 
15,654 
Cash at bank and in hand
52,142 
50,241 
127,666 
111,845 
Creditors: amounts falling due within one year
(85,446)
(93,918)
Net current assets
42,220 
17,927 
Total assets less current liabilities
57,320 
39,287 
Creditors: amounts falling due after more than one year
(33,029)
(34,199)
Provisions for liabilities
Deferred tax
(2,869)
(3,298)
Net assets
21,422 
1,790 
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
21,420 
1,788 
Shareholders' funds
21,422 
1,790 
For the 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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts 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 FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 30 July 2024 and were signed on its behalf by
Shahzad Ali Alvi Director Company Registration No. 6635750
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Cosy News Limited Notes to the Accounts for the year ended 31 July 2023
1
Statutory information
Cosy News Limited is a private company, limited by shares, registered in England and Wales, registration number 6635750. The registered office is 16 St. Georges Way, Intu Eldon Square, Newcastle Upon Tyne, NE2 1RD, UK.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
25% Reducing balance
Fixtures & fittings
15% reducing balance
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation. Goodwill is amortised over a period of 10 years.
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 August 2022
40,000 
At 31 July 2023
40,000 
Amortisation
At 1 August 2022
36,000 
Charge for the year
4,000 
At 31 July 2023
40,000 
Net book value
At 31 July 2023
- 
At 31 July 2022
4,000 
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Cosy News Limited Notes to the Accounts for the year ended 31 July 2023
5
Tangible fixed assets
Fixtures & fittings 
£ 
Cost or valuation
At cost 
At 1 August 2022
80,443 
Additions
404 
At 31 July 2023
80,847 
Depreciation
At 1 August 2022
63,083 
Charge for the year
2,664 
At 31 July 2023
65,747 
Net book value
At 31 July 2023
15,100 
At 31 July 2022
17,360 
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Other debtors
15,654 
15,654 
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
VAT
1,295 
4,104 
Taxes and social security
19,391 
7,554 
Loans from directors
1,011 
131 
Accruals
63,749 
82,129 
85,446 
93,918 
8
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
33,029 
34,199 
9
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Shahzad Ali Alvi
Directors loan
131 
- 
- 
131 
131 
- 
- 
131 
10
Average number of employees
During the year the average number of employees was 8 (2022: 8).
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