Registration number:
Prepared for the registrar
for the
Year Ended 31 December 2023
Coetus Limited
(Registration number: 11080281)
Balance Sheet as at 31 December 2023
Note |
2023 |
2022 |
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Fixed assets |
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Investments |
|
|
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Current assets |
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Debtors |
- |
|
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Investments |
- |
|
|
Cash at bank and in hand |
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|
|
|
|
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Creditors: Amounts falling due within one year |
( |
( |
|
Net current assets |
|
|
|
Net assets |
|
|
|
Capital and reserves |
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Called up share capital |
217 |
217 |
|
Profit and loss account |
6,617 |
17,958,569 |
|
Shareholders' funds |
6,834 |
17,958,786 |
For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
• |
|
• |
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
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Coetus Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except for, where disclosed in these accounting policies, certain items that are shown at fair value.
The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.
Group accounts not prepared
Judgements
No significant judgements have been made by management in preparing these financial statements. |
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in the profit and loss account, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Investments
Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Coetus Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Financial instruments
Classification
Recognition and measurement
Impairment
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was as follows:
2023 |
2022 |
|
Average number of employees |
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Coetus Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
Investments |
2023 |
2022 |
|
Investments in subsidiaries |
|
|
Details of undertakings
Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:
Undertaking |
Registered office |
Holding |
Proportion of voting rights and shares held |
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2023 |
2022 |
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Subsidiary undertakings |
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Co Ch Hausmann & Co,
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The aggregate amount of capital and reserves of Infinitum Group Ltd at the end of the period was £5,068,229.
Debtors |
Note |
2023 |
2022 |
|
Director's loan |
- |
|
|
Other debtors |
- |
|
|
- |
|
Current asset investments |
2023 |
2022 |
|
Other investments |
- |
|
Current asset investments represents investment funds held at market rate. The cost of the investments was £8,500,000. The investments were redeemed in full in the year ended 31 December 2023.
Creditors |
2023 |
2022 |
|
Due within one year |
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Other creditors |
|
- |
Accrued expenses |
|
|
Corporation tax liability |
34,695 |
9,415 |
|
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Coetus Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023
Related party transactions |
Transactions with directors |
At 31 December 2022, the director N C Bampton owed the company £2,880,000 in the form of a director's loan account. The loan was repaid in full in the year to 31 December 2023 and interest was charged on the loan.
Transactions with other parties
At 31 December 2022, the company was owed £1,734,753 by Genus Assets Limited and £4,362,949 by Abiete Ltd, in the form of loans. Both loans were repaid in full in the year ended 31 December 2023 and no interest was charged on the loans. The companies are related by virtue of the director N C Bampton.
During the year the company made distributions to the Infinitum Group Employee Ownership Trust, of £23,011,388.
Control |
On 18 September 2023, 100% of the company's share capital was acquired by the Infinitum Group Employee Ownership Trust. Prior to that date the company was controlled by the directors.