Silverfin false false 31/03/2024 01/04/2023 31/03/2024 Mr C Cochrane 18/03/2014 22 July 2024 The principal activity of the Company during the financial year was the provision of IT infrastructure and consultancy. SC472769 2024-03-31 SC472769 bus:Director1 2024-03-31 SC472769 2023-03-31 SC472769 core:CurrentFinancialInstruments 2024-03-31 SC472769 core:CurrentFinancialInstruments 2023-03-31 SC472769 core:ShareCapital 2024-03-31 SC472769 core:ShareCapital 2023-03-31 SC472769 core:RetainedEarningsAccumulatedLosses 2024-03-31 SC472769 core:RetainedEarningsAccumulatedLosses 2023-03-31 SC472769 core:Goodwill 2023-03-31 SC472769 core:Goodwill 2024-03-31 SC472769 core:OtherPropertyPlantEquipment 2023-03-31 SC472769 core:OtherPropertyPlantEquipment 2024-03-31 SC472769 core:ImmediateParent core:CurrentFinancialInstruments 2024-03-31 SC472769 core:ImmediateParent core:CurrentFinancialInstruments 2023-03-31 SC472769 bus:OrdinaryShareClass1 2024-03-31 SC472769 2023-04-01 2024-03-31 SC472769 bus:FilletedAccounts 2023-04-01 2024-03-31 SC472769 bus:SmallEntities 2023-04-01 2024-03-31 SC472769 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 SC472769 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 SC472769 bus:Director1 2023-04-01 2024-03-31 SC472769 core:Goodwill core:TopRangeValue 2023-04-01 2024-03-31 SC472769 core:OtherPropertyPlantEquipment core:TopRangeValue 2023-04-01 2024-03-31 SC472769 2022-04-01 2023-03-31 SC472769 core:OtherPropertyPlantEquipment 2023-04-01 2024-03-31 SC472769 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 SC472769 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC472769 (Scotland)

COSNADH LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH THE REGISTRAR

COSNADH LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2024

Contents

COSNADH LIMITED

BALANCE SHEET

AS AT 31 MARCH 2024
COSNADH LIMITED

BALANCE SHEET (continued)

AS AT 31 MARCH 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 4 3,894 538
3,894 538
Current assets
Stocks 81,757 200
Debtors 5 164,412 79,989
Cash at bank and in hand 256,156 282,627
502,325 362,816
Creditors: amounts falling due within one year 6 ( 319,027) ( 272,718)
Net current assets 183,298 90,098
Total assets less current liabilities 187,192 90,636
Provision for liabilities ( 974) ( 135)
Net assets 186,218 90,501
Capital and reserves
Called-up share capital 7 100 100
Profit and loss account 186,118 90,401
Total shareholder's funds 186,218 90,501

For the financial year ending 31 March 2024 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 Cosnadh Limited (registered number: SC472769) were approved and authorised for issue by the Director on 22 July 2024. They were signed on its behalf by:

Mr C Cochrane
Director
COSNADH LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2024
COSNADH LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2024
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

Cosnadh Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is C/O Anderson Strathern Llp, 58 Morrison Street, Edinburgh, EH3 8BP, Scotland, United Kingdom.

The financial statements have been prepared under the historical cost convention, 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 £.

Turnover

Turnover represents amounts receivable for design, installation and support of business analytics systems net of VAT and trade discounts. For service contracts, revenue is generally recognised as contract activity progresses, so that for incomplete contracts it reflects the partial performance of contractual obligations.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised as an expense when the Company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year.

Taxation

Current tax
Current tax is provided at amounts expected to be paid using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill 3 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Plant and machinery etc. 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account.

Stocks

Work in progress represents the costs incurred prior to year end relating to contractual obligations which will be fulfilled subsequent to year end.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.

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.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 2 3

3. Intangible assets

Goodwill Total
£ £
Cost
At 01 April 2023 276,931 276,931
At 31 March 2024 276,931 276,931
Accumulated amortisation
At 01 April 2023 276,931 276,931
At 31 March 2024 276,931 276,931
Net book value
At 31 March 2024 0 0
At 31 March 2023 0 0

4. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 April 2023 3,276 3,276
Additions 3,861 3,861
At 31 March 2024 7,137 7,137
Accumulated depreciation
At 01 April 2023 2,738 2,738
Charge for the financial year 505 505
At 31 March 2024 3,243 3,243
Net book value
At 31 March 2024 3,894 3,894
At 31 March 2023 538 538

5. Debtors

2024 2023
£ £
Trade debtors 127,403 71,507
Other debtors 37,009 8,482
164,412 79,989

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 164,834 117,420
Amounts owed to Parent undertakings 46,961 46,961
Corporation tax 48,274 7,892
Other taxation and social security 0 3,882
Other creditors 58,958 96,563
319,027 272,718

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares shares of £ 1.00 each 100 100

8. Operational Lease Commitments

2024 2023
£ £
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows: 6,039 17,093