Acorah Software Products - Accounts Production 15.0.600 false true 30 June 2023 1 July 2022 false 1 July 2023 30 June 2024 30 June 2024 03212145 Mr Akintunde Williams Mrs Abimbola Williams iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 03212145 2023-06-30 03212145 2024-06-30 03212145 2023-07-01 2024-06-30 03212145 frs-core:CurrentFinancialInstruments 2024-06-30 03212145 frs-core:Non-currentFinancialInstruments 2024-06-30 03212145 frs-core:CopyrightsPatentsTrademarksServiceOperatingRights 2024-06-30 03212145 frs-core:CopyrightsPatentsTrademarksServiceOperatingRights 2023-07-01 2024-06-30 03212145 frs-core:CopyrightsPatentsTrademarksServiceOperatingRights 2023-06-30 03212145 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-06-30 03212145 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-07-01 2024-06-30 03212145 frs-core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-06-30 03212145 frs-core:InvestmentPropertyIncludedWithinPPE 2023-07-01 2024-06-30 03212145 frs-core:PlantMachinery 2024-06-30 03212145 frs-core:PlantMachinery 2023-07-01 2024-06-30 03212145 frs-core:PlantMachinery 2023-06-30 03212145 frs-core:ShareCapital 2024-06-30 03212145 frs-core:RetainedEarningsAccumulatedLosses 2024-06-30 03212145 frs-bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 03212145 frs-bus:FilletedAccounts 2023-07-01 2024-06-30 03212145 frs-bus:SmallEntities 2023-07-01 2024-06-30 03212145 frs-bus:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 03212145 frs-bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 03212145 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2024-06-30 03212145 frs-bus:Director1 2023-07-01 2024-06-30 03212145 frs-bus:Director2 2023-07-01 2024-06-30 03212145 frs-countries:EnglandWales 2023-07-01 2024-06-30 03212145 2022-06-30 03212145 2023-06-30 03212145 2022-07-01 2023-06-30 03212145 frs-core:CurrentFinancialInstruments 2023-06-30 03212145 frs-core:Non-currentFinancialInstruments 2023-06-30 03212145 frs-core:ShareCapital 2023-06-30 03212145 frs-core:RetainedEarningsAccumulatedLosses 2023-06-30 03212145 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2023-06-30
Registered number: 03212145
COCONUT ENTERPRISES LIMITED
Unaudited Financial Statements
For The Year Ended 30 June 2024
Prima and Company
222a Camberwell Road
London
SE5 0ED
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 03212145
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 5,966,605 -
Tangible Assets 5 547 729
5,967,152 729
CURRENT ASSETS
Stocks 6 12,530 15,215
Cash at bank and in hand 3 60
12,533 15,275
Creditors: Amounts Falling Due Within One Year 7 (27,523 ) (3,270 )
NET CURRENT ASSETS (LIABILITIES) (14,990 ) 12,005
TOTAL ASSETS LESS CURRENT LIABILITIES 5,952,162 12,734
Creditors: Amounts Falling Due After More Than One Year 8 (472,448 ) (179,507 )
NET ASSETS/(LIABILITIES) 5,479,714 (166,773 )
CAPITAL AND RESERVES
Called up share capital 9 300 300
Fair Value Reserve 10 5,721,600 -
Profit and Loss Account (242,186 ) (167,073 )
SHAREHOLDERS' FUNDS 5,479,714 (166,773)
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Page 2
For the year ending 30 June 2024 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 directors acknowledge their 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Akintunde Williams
Director
11/09/2024
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
COCONUT ENTERPRISES LIMITED is a private company, limited by shares, incorporated in England & Wales, registered number 03212145 . The registered office is 33 Cavendish Square, Fourth Floor, London, W1G 0PW.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are Trade Secrets, Research & development. It is amortised to Profit And Loss Account over its estimated economic life of 10 years.
2.3. Research and Development
In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research is recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised to profit & loss account on a straight line basis over their expected useful economic lives, which range from five to ten years.
If it is not possible to distinguish between the research phase and the development phase of an internal project the expenditure is treated as if it were all incurred in the research phase only.
2.4. Intangible Fixed Assets and Amortisation - Intellectual Property
Intellectual property assets are Trade Secrets. It is amortised to the Profit And Loss Account over its estimated economic life of 20 years, once the scientific, technical, economic and business potentials are in full use.
2.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery Reducing balance- 25%
2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Intangible Assets
Development Costs Intellectual Property Total
£ £ £
Cost
As at 1 July 2023 - - -
Additions 272,406 5,721,600 5,994,006
As at 30 June 2024 272,406 5,721,600 5,994,006
...CONTINUED
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Amortisation
As at 1 July 2023 - - -
Provided during the period 27,401 - 27,401
As at 30 June 2024 27,401 - 27,401
Net Book Value
As at 30 June 2024 245,005 5,721,600 5,966,605
As at 1 July 2023 - - -
5. Tangible Assets
Plant & Machinery
£
Cost
As at 1 July 2023 3,371
As at 30 June 2024 3,371
Depreciation
As at 1 July 2023 2,642
Provided during the period 182
As at 30 June 2024 2,824
Net Book Value
As at 30 June 2024 547
As at 1 July 2023 729
6. Stocks
2024 2023
£ £
Finished goods 12,530 15,215
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Other taxes and social security 513 752
Other creditors 27,010 2,518
27,523 3,270
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Directors loan account 472,448 179,507
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 300 300
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10. Reserves
Fair Value Reserve
£
Fair value reserve 5,721,600
As at 30 June 2024 5,721,600
11. Post Balance Sheet Events
The company is acquiring a prime landed property in central London which will provide the company with the scope for developing its vertical farming technology in an urban setting, using its own Coir hydroponics and fertilizers. It is also expected that the company will utilize its Coco walling technology, coco canvas for artwork and coco fueled grills for gourmet food production at the building once acquired.
The company has developed a biofuel known as coco fuel capable of being used as a source of green hydrogen for fuel and is about to enter into a contractual relationship with Cranfield University, UK or other research institutions to trial its Fuel pellet mixture designed as part of its Trade Secrets. The agreement is expected to be signed in the autumn.
12.
The company is negotiating an exclusive license to market, distribute and sell the company's agricultural pellets and textiles as fuel for green energy and organic grow media and allied services for hydroponic planting and other environmental enhancement schemes. 
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