2023-04-012024-03-312024-03-31false08952983COBALT HILL 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COBALT HILL LTD

Registered Number
08952983
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

COBALT HILL LTD
Company Information
for the year from 1 April 2023 to 31 March 2024

Director

HILL, Claire Alice

Registered Address

12a Marlborough Place
Brighton
BN1 1WN

Registered Number

08952983 (England and Wales)
COBALT HILL LTD
Balance Sheet as at
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3-1
-1
Current assets
Stocks41,5001,500
Cash at bank and on hand15,16414,448
16,66415,948
Creditors amounts falling due within one year6(14,181)(9,626)
Net current assets (liabilities)2,4836,322
Total assets less current liabilities2,4836,323
Net assets2,4836,323
Capital and reserves
Called up share capital100100
Profit and loss account2,3836,223
Shareholders' funds2,4836,323
The financial statements were approved and authorised for issue by the Director on 28 October 2024, and are signed on its behalf by:
HILL, Claire Alice
Director
Registered Company No. 08952983
COBALT HILL LTD
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Turnover policy
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.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Straight line (years)
Office Equipment3
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
2.Average number of employees

20242023
Average number of employees during the year10
3.Tangible fixed assets

Office Equipment

Total

££
Cost or valuation
At 01 April 234,3514,351
At 31 March 244,3514,351
Depreciation and impairment
At 01 April 234,3504,350
Charge for year11
At 31 March 244,3514,351
Net book value
At 31 March 24--
At 31 March 2311
4.Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

2024

2023

££
Raw materials and consumables1,5001,500
Total1,5001,500
5.Debtors: amounts due within one year
6.Creditors: amounts due within one year

2024

2023

££
Taxation and social security5,4332,352
Other creditors8,2336,759
Accrued liabilities and deferred income515515
Total14,1819,626