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Registration number: 09735571

Cowen Edutainment Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 August 2024

image-name
 

Cowen Edutainment Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

Cowen Edutainment Ltd

Company Information

Director

P Cowen

Registered office

104 Piggotts Way
Bishops Stortford
Herts
CM23 3QU

Accountants

Viewpoint Accountants Ltd
Saxon House 27 Duke Street
Chelmsford
Essex
CM1 1HT

 

Cowen Edutainment Ltd

(Registration number: 09735571)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Current assets

 

Debtors

4

140

5,000

Cash at bank and in hand

 

448

408

 

588

5,408

Creditors: Amounts falling due within one year

5

(22,880)

(11,433)

Total assets less current liabilities

 

(22,292)

(6,025)

Creditors: Amounts falling due after more than one year

5

(19,436)

(21,464)

Net liabilities

 

(41,728)

(27,489)

Capital and reserves

 

Called up share capital

6

1

1

Retained earnings

(41,729)

(27,490)

Shareholders' deficit

 

(41,728)

(27,489)

For the financial year ending 31 August 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 members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his 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.

 

Cowen Edutainment Ltd

(Registration number: 09735571)
Balance Sheet as at 31 August 2024

Approved and authorised by the director on 26 October 2024
 

.........................................
P Cowen
Director

 

Cowen Edutainment Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
104 Piggotts Way
Bishops Stortford
Herts
CM23 3QU

These financial statements were authorised for issue by the director on 26 October 2024.

2

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 that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis. The company is financially supported by the director.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

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.

 

Cowen Edutainment Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual
arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract
that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares
are issued, any component that creates a financial liability of the company is presented as a liability in the
balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in
the profit and loss account.

 

 

Cowen Edutainment Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2023 - 0).

4

Debtors

2024
£

2023
£

Other debtors

140

5,000

140

5,000

5

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

22,880

7,923

Trade creditors

 

-

10

Other creditors

 

-

3,500

 

22,880

11,433

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

19,436

21,464

6

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

1

1

1

1

       
 

Cowen Edutainment Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

7

Related party transactions

Transactions with the director

2024

At 1 September 2023
£

Advances to director
£

Repayments by director
£

At 31 August 2024
£

Director's loan

(5,846)

284

(15,396)

(20,958)