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Company Registration No. 9375540 (England and Wales)
Cobalt Hospitality Limited Unaudited accounts for the year ended 31 March 2024
Cobalt Hospitality Limited Company Information for the year ended 31 March 2024
Directors
Mark Collett Kathryn Hodgkinson
Company Number
9375540 (England and Wales)
Registered Office
10-16 BOYD STREET BOYD STREET NEWCASTLE-U-TYNE TYNE AND WEAR NE2 1AP ENGLAND
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Cobalt Hospitality Limited Statement of financial position as at 31 March 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Intangible assets
765 
1,035 
Tangible assets
12,072 
23,863 
12,837 
24,898 
Current assets
Inventories
33,675 
36,550 
Debtors
33,430 
9,055 
Cash at bank and in hand
93,103 
139,890 
160,208 
185,495 
Creditors: amounts falling due within one year
(123,035)
(149,666)
Net current assets
37,173 
35,829 
Total assets less current liabilities
50,010 
60,727 
Creditors: amounts falling due after more than one year
(29,722)
(35,526)
Provisions for liabilities
Deferred tax
(2,439)
(4,534)
Net assets
17,849 
20,667 
Reserves
Profit and loss account
17,849 
20,667 
Members' funds
17,849 
20,667 
For the year ending 31 March 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 12 November 2024 and were signed on its behalf by
Mark Collett Director Company Registration No. 9375540
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Cobalt Hospitality Limited Notes to the Accounts for the year ended 31 March 2024
1
Statutory information
Cobalt Hospitality Limited is a private company, limited by guarantee, registered in England and Wales, registration number 9375540. The registered office is 10-16 BOYD STREET, BOYD STREET, NEWCASTLE-U-TYNE, TYNE AND WEAR, NE2 1AP, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
Over 5 Years
Fixtures & fittings
Over 5 Years
Computer equipment
Over 3 Years
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Stock
Stock has been valued at the lower of cost and estimated selling price less costs to complete and sell.
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Cobalt Hospitality Limited Notes to the Accounts for the year ended 31 March 2024
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 April 2023
2,700 
At 31 March 2024
2,700 
Amortisation
At 1 April 2023
1,665 
Charge for the year
270 
At 31 March 2024
1,935 
Net book value
At 31 March 2024
765 
At 31 March 2023
1,035 
5
Tangible fixed assets
Plant & machinery 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 April 2023
49,177 
31,263 
11,534 
91,974 
Disposals
(398)
(2,600)
- 
(2,998)
At 31 March 2024
48,779 
28,663 
11,534 
88,976 
Depreciation
At 1 April 2023
34,974 
22,477 
10,660 
68,111 
Charge for the year
6,616 
3,471 
505 
10,592 
On disposals
(239)
(1,560)
- 
(1,799)
At 31 March 2024
41,351 
24,388 
11,165 
76,904 
Net book value
At 31 March 2024
7,428 
4,275 
369 
12,072 
At 31 March 2023
14,203 
8,786 
874 
23,863 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
3,600 
4,487 
Accrued income and prepayments
26,179 
1,433 
Other debtors
3,651 
3,135 
33,430 
9,055 
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Cobalt Hospitality Limited Notes to the Accounts for the year ended 31 March 2024
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
5,000 
5,000 
VAT
49,842 
54,852 
Trade creditors
- 
479 
Taxes and social security
10,253 
20,340 
Other creditors
41,298 
45,786 
Accruals
16,642 
23,209 
123,035 
149,666 
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
29,722 
35,526 
9
Company limited by guarantee
The company is limited by guarantee and has no share capital. Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1.
10
Average number of employees
During the year the average number of employees was 24 (2023: 28).
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