2023-04-012024-03-312024-03-31false08465429COBALT FINANCIAL LTD2024-11-21iso4217:GBPxbrli:pure084654292023-04-01084654292024-03-31084654292023-04-012024-03-31084654292022-04-01084654292023-03-31084654292022-04-012023-03-3108465429bus:SmallEntities2023-04-012024-03-3108465429bus:AuditExempt-NoAccountantsReport2023-04-012024-03-3108465429bus:FullAccounts2023-04-012024-03-3108465429bus:PrivateLimitedCompanyLtd2023-04-012024-03-3108465429core:WithinOneYear2024-03-3108465429core:AfterOneYear2024-03-3108465429core:WithinOneYear2023-03-3108465429core:AfterOneYear2023-03-3108465429core:ShareCapital2024-03-3108465429core:SharePremium2024-03-3108465429core:RevaluationReserve2024-03-3108465429core:OtherReservesSubtotal2024-03-3108465429core:RetainedEarningsAccumulatedLosses2024-03-3108465429core:ShareCapital2023-03-3108465429core:SharePremium2023-03-3108465429core:RevaluationReserve2023-03-3108465429core:OtherReservesSubtotal2023-03-3108465429core:RetainedEarningsAccumulatedLosses2023-03-3108465429core:LandBuildings2024-03-3108465429core:PlantMachinery2024-03-3108465429core:Vehicles2024-03-3108465429core:FurnitureFittings2024-03-3108465429core:OfficeEquipment2024-03-3108465429core:NetGoodwill2024-03-3108465429core:IntangibleAssetsOtherThanGoodwill2024-03-3108465429core:ListedExchangeTraded2024-03-3108465429core:UnlistedNon-exchangeTraded2024-03-3108465429core:LandBuildings2023-03-3108465429core:PlantMachinery2023-03-3108465429core:Vehicles2023-03-3108465429core:FurnitureFittings2023-03-3108465429core:OfficeEquipment2023-03-3108465429core:NetGoodwill2023-03-3108465429core:IntangibleAssetsOtherThanGoodwill2023-03-3108465429core:ListedExchangeTraded2023-03-3108465429core:UnlistedNon-exchangeTraded2023-03-3108465429core:LandBuildings2023-04-012024-03-3108465429core:PlantMachinery2023-04-012024-03-3108465429core:Vehicles2023-04-012024-03-3108465429core:FurnitureFittings2023-04-012024-03-3108465429core:OfficeEquipment2023-04-012024-03-3108465429core:NetGoodwill2023-04-012024-03-3108465429core:IntangibleAssetsOtherThanGoodwill2023-04-012024-03-3108465429core:ListedExchangeTraded2023-04-012024-03-3108465429core:UnlistedNon-exchangeTraded2023-04-012024-03-3108465429core:MoreThanFiveYears2023-04-012024-03-3108465429core:Non-currentFinancialInstruments2024-03-3108465429core:Non-currentFinancialInstruments2023-03-3108465429dpl:CostSales2023-04-012024-03-3108465429dpl:DistributionCosts2023-04-012024-03-3108465429core:LandBuildings2023-04-012024-03-3108465429core:PlantMachinery2023-04-012024-03-3108465429core:Vehicles2023-04-012024-03-3108465429core:FurnitureFittings2023-04-012024-03-3108465429core:OfficeEquipment2023-04-012024-03-3108465429dpl:AdministrativeExpenses2023-04-012024-03-3108465429core:NetGoodwill2023-04-012024-03-3108465429core:IntangibleAssetsOtherThanGoodwill2023-04-012024-03-3108465429dpl:GroupUndertakings2023-04-012024-03-3108465429dpl:ParticipatingInterests2023-04-012024-03-3108465429dpl:GroupUndertakingscore:ListedExchangeTraded2023-04-012024-03-3108465429core:ListedExchangeTraded2023-04-012024-03-3108465429dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2023-04-012024-03-3108465429core:UnlistedNon-exchangeTraded2023-04-012024-03-3108465429dpl:CostSales2022-04-012023-03-3108465429dpl:DistributionCosts2022-04-012023-03-3108465429core:LandBuildings2022-04-012023-03-3108465429core:PlantMachinery2022-04-012023-03-3108465429core:Vehicles2022-04-012023-03-3108465429core:FurnitureFittings2022-04-012023-03-3108465429core:OfficeEquipment2022-04-012023-03-3108465429dpl:AdministrativeExpenses2022-04-012023-03-3108465429core:NetGoodwill2022-04-012023-03-3108465429core:IntangibleAssetsOtherThanGoodwill2022-04-012023-03-3108465429dpl:GroupUndertakings2022-04-012023-03-3108465429dpl:ParticipatingInterests2022-04-012023-03-3108465429dpl:GroupUndertakingscore:ListedExchangeTraded2022-04-012023-03-3108465429core:ListedExchangeTraded2022-04-012023-03-3108465429dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2022-04-012023-03-3108465429core:UnlistedNon-exchangeTraded2022-04-012023-03-3108465429core:NetGoodwill2024-03-3108465429core:IntangibleAssetsOtherThanGoodwill2024-03-3108465429core:LandBuildings2024-03-3108465429core:PlantMachinery2024-03-3108465429core:Vehicles2024-03-3108465429core:FurnitureFittings2024-03-3108465429core:OfficeEquipment2024-03-3108465429core:AfterOneYear2024-03-3108465429core:WithinOneYear2024-03-3108465429core:ListedExchangeTraded2024-03-3108465429core:UnlistedNon-exchangeTraded2024-03-3108465429core:ShareCapital2024-03-3108465429core:SharePremium2024-03-3108465429core:RevaluationReserve2024-03-3108465429core:OtherReservesSubtotal2024-03-3108465429core:RetainedEarningsAccumulatedLosses2024-03-3108465429core:NetGoodwill2023-03-3108465429core:IntangibleAssetsOtherThanGoodwill2023-03-3108465429core:LandBuildings2023-03-3108465429core:PlantMachinery2023-03-3108465429core:Vehicles2023-03-3108465429core:FurnitureFittings2023-03-3108465429core:OfficeEquipment2023-03-3108465429core:AfterOneYear2023-03-3108465429core:WithinOneYear2023-03-3108465429core:ListedExchange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COBALT FINANCIAL LTD

Registered Number
08465429
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

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

Director

HAKKAK, Nigel

Company Secretary

HAKKAK, Nicola

Registered Address

2nd Floor Grove House
55 Lowlands Road
Harrow
HA1 3AW

Registered Number

08465429 (England and Wales)
COBALT FINANCIAL LTD
Balance Sheet as at
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets43,7982,539
3,7982,539
Current assets
Debtors5901,677389,192
Cash at bank and on hand15,659147,463
917,336536,655
Creditors amounts falling due within one year6(536,284)(121,730)
Net current assets (liabilities)381,052414,925
Total assets less current liabilities384,850417,464
Provisions for liabilities7(950)(482)
Net assets383,900416,982
Capital and reserves
Called up share capital100100
Profit and loss account383,800416,882
Shareholders' funds383,900416,982
The financial statements were approved and authorised for issue by the Director on 21 November 2024, and are signed on its behalf by:
HAKKAK, Nigel
Director
Registered Company No. 08465429
COBALT FINANCIAL 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 compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
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.
Intangible assets
Goodwill Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of five years. Intangible assets Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Fixtures and fittings25
Office Equipment25
2.Average number of employees

20242023
Average number of employees during the year23
3.Intangible assets

Goodwill

Total

££
Cost or valuation
At 01 April 2375,00075,000
At 31 March 2475,00075,000
Amortisation and impairment
At 01 April 2375,00075,000
At 31 March 2475,00075,000
Net book value
At 31 March 24--
At 31 March 23--
4.Tangible fixed assets

Fixtures & fittings

Office Equipment

Total

£££
Cost or valuation
At 01 April 233,2003,9857,185
Additions1,7903682,158
At 31 March 244,9904,3539,343
Depreciation and impairment
At 01 April 232,3772,2694,646
Charge for year438461899
At 31 March 242,8152,7305,545
Net book value
At 31 March 242,1751,6233,798
At 31 March 238231,7162,539
5.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables35,40060,716
Amounts owed by group undertakings851,354318,875
Other debtors14,9239,601
Total901,677389,192
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
6.Creditors: amounts due within one year

2024

2023

££
Taxation and social security23,67141,684
Other creditors510,51377,946
Accrued liabilities and deferred income2,1002,100
Total536,284121,730
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
7.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)950482
Total950482
8.Guarantees provided on behalf of directors
At 31 March 2024, the director's current account balance has a credit balance of £504,922 (2023: £77,788).
9.Related party transactions
At 31 March 2024 the amount owed by Cobalt Financial Holdings Limited is £851,354 (2023 £318,875).