2023-04-012024-03-312024-03-31false13400639COBALT FINANCIAL HOLDINGS 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COBALT FINANCIAL HOLDINGS LIMITED

Registered Number
13400639
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

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

Director

HAKKAK, Nigel

Company Secretary

HAKKAK, Nicola Suzanne

Registered Address

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

Registered Number

13400639 (England and Wales)
COBALT FINANCIAL HOLDINGS LIMITED
Balance Sheet as at
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Investments3932,507326,617
932,507326,617
Current assets
Debtors4200200
200200
Creditors amounts falling due within one year5(865,637)(321,352)
Net current assets (liabilities)(865,437)(321,152)
Total assets less current liabilities67,0705,465
Net assets67,0705,465
Capital and reserves
Called up share capital200200
Profit and loss account66,8705,265
Shareholders' funds67,0705,465
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. 13400639
COBALT FINANCIAL HOLDINGS LIMITED
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.
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.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
2.Average number of employees

20242023
Average number of employees during the year00
3.Fixed asset investments

Other investments1

Total

££
Cost or valuation
At 01 April 23326,617326,617
Additions530,000530,000
Revaluations75,89075,890
At 31 March 24932,507932,507
Net book value
At 31 March 24932,507932,507
At 31 March 23326,617326,617

Notes

1Other investments other than loans
4.Debtors: amounts due within one year

2024

2023

££
Other debtors200200
Total200200
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.
5.Creditors: amounts due within one year

2024

2023

££
Amounts owed to related parties851,354318,875
Taxation and social security13,9842,177
Accrued liabilities and deferred income299300
Total865,637321,352
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.
6.Related party transactions
At 31 March 2024 the amount owed to Cobalt Financial Limited is £851,354 (2023: £318,875).