Acorah Software Products - Accounts Production 14.6.300 false true 31 December 2022 1 January 2022 false 24 September 2024 1 January 2023 31 December 2023 31 December 2023 11286028 Mr F Gomis Mr F Gomis iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11286028 2022-12-31 11286028 2023-12-31 11286028 2023-01-01 2023-12-31 11286028 frs-core:CurrentFinancialInstruments 2023-12-31 11286028 frs-core:BetweenOneFiveYears 2023-12-31 11286028 frs-core:FurnitureFittings 2023-12-31 11286028 frs-core:FurnitureFittings 2023-01-01 2023-12-31 11286028 frs-core:FurnitureFittings 2022-12-31 11286028 frs-core:NetGoodwill 2023-12-31 11286028 frs-core:NetGoodwill 2023-01-01 2023-12-31 11286028 frs-core:NetGoodwill 2022-12-31 11286028 frs-core:MotorVehicles 2023-12-31 11286028 frs-core:MotorVehicles 2023-01-01 2023-12-31 11286028 frs-core:MotorVehicles 2022-12-31 11286028 frs-core:PlantMachinery 2023-12-31 11286028 frs-core:PlantMachinery 2023-01-01 2023-12-31 11286028 frs-core:PlantMachinery 2022-12-31 11286028 frs-core:WithinOneYear 2023-12-31 11286028 frs-core:ShareCapital 2023-12-31 11286028 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 11286028 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 11286028 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 11286028 frs-bus:SmallEntities 2023-01-01 2023-12-31 11286028 frs-bus:Audited 2023-01-01 2023-12-31 11286028 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 11286028 frs-bus:Director1 2023-01-01 2023-12-31 11286028 frs-bus:CompanySecretary1 2023-01-01 2023-12-31 11286028 frs-countries:EnglandWales 2023-01-01 2023-12-31 11286028 2021-12-31 11286028 2022-12-31 11286028 2022-01-01 2022-12-31 11286028 frs-core:CurrentFinancialInstruments 2022-12-31 11286028 frs-core:BetweenOneFiveYears 2022-12-31 11286028 frs-core:WithinOneYear 2022-12-31 11286028 frs-core:ShareCapital 2022-12-31 11286028 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31
Registered number: 11286028
Cobo Tankers & Services Limited
Financial Statements
For The Year Ended 31 December 2023
Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 11286028
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 700 850
Tangible Assets 5 25,211 4,054
25,911 4,904
CURRENT ASSETS
Stocks 6 1,057,351 1,297,990
Debtors 7 1,321,821 1,806,966
Cash at bank and in hand 345,022 477,994
2,724,194 3,582,950
Creditors: Amounts Falling Due Within One Year 8 (2,685,298 ) (3,567,464 )
NET CURRENT ASSETS (LIABILITIES) 38,896 15,486
TOTAL ASSETS LESS CURRENT LIABILITIES 64,807 20,390
PROVISIONS FOR LIABILITIES
Deferred Taxation (3,948 ) -
NET ASSETS 60,859 20,390
CAPITAL AND RESERVES
Called up share capital 9 1 1
Profit and Loss Account 60,858 20,389
SHAREHOLDERS' FUNDS 60,859 20,390
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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 F Gomis
Director
24/09/2024
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Cobo Tankers & Services Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11286028 . The registered office is Suite C26 Josephs Well, Hanover Walk, Leeds, West Yorkshire, LS3 1AB.

The presentational currency is Pounds sterling.
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. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 10 years.
2.4. 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 20% Straight Line with nil residual value
Motor Vehicles 25% Reducing Balance with nil residual value
Fixtures & Fittings 20% Straight Line with nil residual value
2.5. Stocks and Work in Progress
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. 
Stock is recognised when it arrives in the UK and the risks and rewards of ownership transfer to the company at that point. Prior to this, any stock items invoiced by the supplier are included within prepayments.
2.6. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
...CONTINUED
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2.7. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
The average number of employees, during the year was: 4 (2022: 3)
4 3
4. Intangible Assets
Goodwill
£
Cost
As at 1 January 2023 1,500
As at 31 December 2023 1,500
Amortisation
As at 1 January 2023 650
Provided during the period 150
As at 31 December 2023 800
Net Book Value
As at 31 December 2023 700
As at 1 January 2023 850
5. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 January 2023 6,411 3,500 2,870 12,781
Additions 4,016 15,000 5,568 24,584
Disposals - (3,500 ) - (3,500 )
As at 31 December 2023 10,427 15,000 8,438 33,865
Depreciation
As at 1 January 2023 5,169 2,578 980 8,727
Provided during the period 1,289 469 747 2,505
Disposals - (2,578 ) - (2,578 )
As at 31 December 2023 6,458 469 1,727 8,654
Net Book Value
As at 31 December 2023 3,969 14,531 6,711 25,211
As at 1 January 2023 1,242 922 1,890 4,054
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6. Stocks
2023 2022
£ £
Stock 1,057,351 1,297,990
7. Debtors
2023 2022
£ £
Due within one year
Trade debtors 1,244,914 1,146,240
Prepayments and accrued income 34,782 630,337
Deferred tax current asset - 256
Amounts owed by group undertakings 42,125 30,133
1,321,821 1,806,966
8. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 172,382 231,645
Other taxes and social security 573,323 661,035
Other creditors 3,101 3,387
Accruals and deferred income 16,460 13,309
Amounts owed to group undertakings 1,920,032 2,658,088
2,685,298 3,567,464
9. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 1 1
10. Contingent Liabilities
HMRC are carrying out a review in respect of certain aspects of outward processing/reporting which changed post BREXIT.
These enquiries are not sufficiently advanced for the director to be able to assess if there will be any financial consequence of the enquiries and therefore cannot estimate the range of any potential outcomes, one of which may be no financial impact.
11. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2023 2022
£ £
Not later than one year 12,953 10,914
Later than one year and not later than five years 6,623 -
19,576 10,914
12. Going Concern
These accounts have been prepared on the going concern basis due to the fact that the company has the continued support of the group. The director has been given an assurance that this support will continue for the foreseeable future.
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13. Audit Information
The auditors report on the account of Cobo Tankers & Services Limited for the year ended 31 December 2023 was unqualified
The auditor's report was signed by Rachel Davis BA FCA (Senior Statutory Auditor) for and on behalf of Just Audit Limited , Statutory Auditor
Just Audit Limited
Strelley Hall, Main Street
Strelley
Nottingham
NG8 6PE
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