Cobine Carmelson Limited 06517917 false 2023-03-04 2024-02-29 2024-02-29 The principal activity of the company is insurance broking. Digita Accounts Production Advanced 6.30.9574.0 true 06517917 2023-03-04 2024-02-29 06517917 2024-02-29 06517917 bus:OrdinaryShareClass1 2024-02-29 06517917 bus:OrdinaryShareClass2 2024-02-29 06517917 core:CurrentFinancialInstruments 2024-02-29 06517917 core:CurrentFinancialInstruments core:WithinOneYear 2024-02-29 06517917 core:Non-currentFinancialInstruments core:AfterOneYear 2024-02-29 06517917 core:FurnitureFittingsToolsEquipment 2024-02-29 06517917 bus:SmallEntities 2023-03-04 2024-02-29 06517917 bus:AuditExemptWithAccountantsReport 2023-03-04 2024-02-29 06517917 bus:FilletedAccounts 2023-03-04 2024-02-29 06517917 bus:SmallCompaniesRegimeForAccounts 2023-03-04 2024-02-29 06517917 bus:RegisteredOffice 2023-03-04 2024-02-29 06517917 bus:Director1 2023-03-04 2024-02-29 06517917 bus:OrdinaryShareClass1 2023-03-04 2024-02-29 06517917 bus:OrdinaryShareClass2 2023-03-04 2024-02-29 06517917 bus:PrivateLimitedCompanyLtd 2023-03-04 2024-02-29 06517917 core:FurnitureFittings 2023-03-04 2024-02-29 06517917 core:FurnitureFittingsToolsEquipment 2023-03-04 2024-02-29 06517917 core:OfficeEquipment 2023-03-04 2024-02-29 06517917 countries:England 2023-03-04 2024-02-29 06517917 2023-03-03 06517917 core:FurnitureFittingsToolsEquipment 2023-03-03 06517917 2022-03-01 2023-03-03 06517917 2023-03-03 06517917 bus:OrdinaryShareClass1 2023-03-03 06517917 bus:OrdinaryShareClass2 2023-03-03 06517917 core:CurrentFinancialInstruments 2023-03-03 06517917 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-03 06517917 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-03 06517917 core:FurnitureFittingsToolsEquipment 2023-03-03 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 06517917

Cobine Carmelson Limited

Unaudited Filleted Financial Statements

for the Period from 4 March 2023 to 29 February 2024

 

Cobine Carmelson Limited

Contents

Director's Report

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

Cobine Carmelson Limited

Director's Report for the Period from 4 March 2023 to 29 February 2024

The director presents his report and the financial statements for the period from 4 March 2023 to 29 February 2024.

Director of the company

The director who held office during the period was as follows:

Jason Robert Cobine

Principal activity

The principal activity of the company is insurance broking.

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 29 November 2024
 

.........................................
Jason Robert Cobine
Director

 

Cobine Carmelson Limited

(Registration number: 06517917)
Balance Sheet as at 29 February 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

2,214

1,665

Current assets

 

Debtors

5

5,655

7,891

Cash at bank and in hand

 

90,492

176,809

 

96,147

184,700

Creditors: Amounts falling due within one year

6

(79,324)

(99,191)

Net current assets

 

16,823

85,509

Total assets less current liabilities

 

19,037

87,174

Creditors: Amounts falling due after more than one year

6

(12,500)

(22,500)

Provisions for liabilities

(421)

(316)

Net assets

 

6,116

64,358

Capital and reserves

 

Called up share capital

7

1,000

1,000

Retained earnings

5,116

63,358

Shareholders' funds

 

6,116

64,358

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

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 29 November 2024
 

.........................................
Jason Robert Cobine
Director

 

Cobine Carmelson Limited

Notes to the Unaudited Financial Statements for the Period from 4 March 2023 to 29 February 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
80-83 Long Lane
London
EC1A 9ET

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

 

Cobine Carmelson Limited

Notes to the Unaudited Financial Statements for the Period from 4 March 2023 to 29 February 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

25% straight line

Furniture and fittings

25% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Cobine Carmelson Limited

Notes to the Unaudited Financial Statements for the Period from 4 March 2023 to 29 February 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Cobine Carmelson Limited

Notes to the Unaudited Financial Statements for the Period from 4 March 2023 to 29 February 2024

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 3 (2023 - 3).

 

Cobine Carmelson Limited

Notes to the Unaudited Financial Statements for the Period from 4 March 2023 to 29 February 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 4 March 2023

6,055

6,055

Additions

2,074

2,074

At 29 February 2024

8,129

8,129

Depreciation

At 4 March 2023

4,390

4,390

Charge for the period

1,525

1,525

At 29 February 2024

5,915

5,915

Carrying amount

At 29 February 2024

2,214

2,214

At 3 March 2023

1,665

1,665

5

Debtors

Current

2024
£

2023
£

Other debtors

5,655

7,891

 

5,655

7,891

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

10,000

10,000

Trade creditors

 

40

-

Taxation and social security

 

4,791

14,275

Accruals and deferred income

 

62,883

73,370

Other creditors

 

1,610

1,546

 

79,324

99,191

 

Cobine Carmelson Limited

Notes to the Unaudited Financial Statements for the Period from 4 March 2023 to 29 February 2024

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary share A of £1 each

950

950

950

950

Ordinary share B of £1 each

50

50

50

50

1,000

1,000

1,000

1,000