Silverfin false false 29/02/2024 01/03/2023 29/02/2024 E P Betancourt 07/09/2022 R Colcord 01/06/2017 N Khan 17/01/2024 15/11/2022 M A H Rausing 07/09/2022 S J Stennett 07/09/2022 27 November 2024 The principal activity of the Company during the financial year was of clothes designing production. 10642211 2024-02-29 10642211 bus:Director1 2024-02-29 10642211 bus:Director2 2024-02-29 10642211 bus:Director3 2024-02-29 10642211 bus:Director4 2024-02-29 10642211 bus:Director5 2024-02-29 10642211 2023-02-28 10642211 core:CurrentFinancialInstruments 2024-02-29 10642211 core:CurrentFinancialInstruments 2023-02-28 10642211 core:Non-currentFinancialInstruments 2024-02-29 10642211 core:Non-currentFinancialInstruments 2023-02-28 10642211 core:ShareCapital 2024-02-29 10642211 core:ShareCapital 2023-02-28 10642211 core:SharePremium 2024-02-29 10642211 core:SharePremium 2023-02-28 10642211 core:RetainedEarningsAccumulatedLosses 2024-02-29 10642211 core:RetainedEarningsAccumulatedLosses 2023-02-28 10642211 core:OfficeEquipment 2023-02-28 10642211 core:ComputerEquipment 2023-02-28 10642211 core:OfficeEquipment 2024-02-29 10642211 core:ComputerEquipment 2024-02-29 10642211 bus:OrdinaryShareClass1 2024-02-29 10642211 2023-03-01 2024-02-29 10642211 bus:FilletedAccounts 2023-03-01 2024-02-29 10642211 bus:SmallEntities 2023-03-01 2024-02-29 10642211 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 10642211 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 10642211 bus:Director1 2023-03-01 2024-02-29 10642211 bus:Director2 2023-03-01 2024-02-29 10642211 bus:Director3 2023-03-01 2024-02-29 10642211 bus:Director4 2023-03-01 2024-02-29 10642211 bus:Director5 2023-03-01 2024-02-29 10642211 core:OfficeEquipment core:TopRangeValue 2023-03-01 2024-02-29 10642211 core:ComputerEquipment core:TopRangeValue 2023-03-01 2024-02-29 10642211 2022-03-01 2023-02-28 10642211 core:OfficeEquipment 2023-03-01 2024-02-29 10642211 core:ComputerEquipment 2023-03-01 2024-02-29 10642211 core:CurrentFinancialInstruments 2023-03-01 2024-02-29 10642211 core:Non-currentFinancialInstruments 2023-03-01 2024-02-29 10642211 bus:OrdinaryShareClass1 2023-03-01 2024-02-29 10642211 bus:OrdinaryShareClass1 2022-03-01 2023-02-28 10642211 1 2023-03-01 2024-02-29 iso4217:GBP xbrli:pure xbrli:shares

Company No: 10642211 (England and Wales)

COU COU INTIMATES LTD

Unaudited Financial Statements
For the financial year ended 29 February 2024
Pages for filing with the registrar

COU COU INTIMATES LTD

Unaudited Financial Statements

For the financial year ended 29 February 2024

Contents

COU COU INTIMATES LTD

STATEMENT OF FINANCIAL POSITION

As at 29 February 2024
COU COU INTIMATES LTD

STATEMENT OF FINANCIAL POSITION (continued)

As at 29 February 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 7,150 3,223
7,150 3,223
Current assets
Stocks 4 472,223 273,027
Debtors 5 190,922 123,930
Cash at bank and in hand 193,212 283,323
856,357 680,280
Creditors: amounts falling due within one year 6 ( 820,604) ( 319,278)
Net current assets 35,753 361,002
Total assets less current liabilities 42,903 364,225
Creditors: amounts falling due after more than one year 7 ( 296,920) ( 252,083)
Net (liabilities)/assets ( 254,017) 112,142
Capital and reserves
Called-up share capital 8 15,847 15,847
Share premium account 1,205,925 1,205,925
Profit and loss account ( 1,475,789 ) ( 1,109,630 )
Total shareholders' (deficit)/funds ( 254,017) 112,142

For the financial year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Cou Cou Intimates Ltd (registered number: 10642211) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

R Colcord
Director

27 November 2024

COU COU INTIMATES LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 29 February 2024
COU COU INTIMATES LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 29 February 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Cou Cou Intimates Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is 35 Ballards Lane, London, N3 1XW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Statement of Financial Position date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Employee benefits

Defined contribution schemes
The company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Statement of Financial Position.

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Office equipment 3 years straight line
Computer equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to and from related parties and investments in non-puttable ordinary shares.

Financial assets
Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Income and Retained Earnings.

Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the company during the year, including directors 6 3

3. Tangible assets

Office equipment Computer equipment Total
£ £ £
Cost
At 01 March 2023 2,349 5,240 7,589
Additions 0 6,018 6,018
At 29 February 2024 2,349 11,258 13,607
Accumulated depreciation
At 01 March 2023 786 3,580 4,366
Charge for the financial year 783 1,308 2,091
At 29 February 2024 1,569 4,888 6,457
Net book value
At 29 February 2024 780 6,370 7,150
At 28 February 2023 1,563 1,660 3,223

4. Stocks

2024 2023
£ £
Finished goods 472,223 273,027

5. Debtors

2024 2023
£ £
Trade debtors 134,420 93,027
Prepayments 41,417 5,805
VAT recoverable 7,678 14,029
Other debtors 7,407 11,069
190,922 123,930

6. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 10,000 34,766
Trade creditors 331,357 56,985
Amounts owed to directors 128,554 81,569
Other loans 0 55,989
Accruals 38,978 81,759
Other taxation and social security 6,304 5,553
Other creditors 305,411 2,657
820,604 319,278

Other creditors includes a Simple agreement for Future Equity of £300,000 on the assumption that they will be converted into shares on 31 December 2024. This balance is not repayable under the agreements dated 28 June 2023 and 4 September 2023.

7. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 16,119 0
Other loans 280,801 252,083
296,920 252,083

The other loan is secured by way of a fixed and floating charge over the assets of the company.

8. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
15,847 Ordinary shares of £ 1.00 each 15,847 15,847

9. Events after the Balance Sheet date

Subsequent to the statement of financial position date, £300,000 within other creditors will be converted into £300,000 of equity shares valued at the date of issue, in accordance with the simple agreement for future equity.