Acorah Software Products - Accounts Production 16.0.110 false true false 1 March 2023 29 February 2024 29 February 2024 12481242 Ms Gabriela Evangelou Miss Lucia Evangelou iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 12481242 2023-02-28 12481242 2024-02-29 12481242 2023-03-01 2024-02-29 12481242 frs-core:CurrentFinancialInstruments 2024-02-29 12481242 frs-core:Non-currentFinancialInstruments 2024-02-29 12481242 frs-core:FurnitureFittings 2024-02-29 12481242 frs-core:FurnitureFittings 2023-03-01 2024-02-29 12481242 frs-core:FurnitureFittings 2023-02-28 12481242 frs-core:NetGoodwill 2024-02-29 12481242 frs-core:NetGoodwill 2023-03-01 2024-02-29 12481242 frs-core:NetGoodwill 2023-02-28 12481242 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-02-29 12481242 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-03-01 2024-02-29 12481242 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-02-28 12481242 frs-core:PlantMachinery 2024-02-29 12481242 frs-core:PlantMachinery 2023-03-01 2024-02-29 12481242 frs-core:PlantMachinery 2023-02-28 12481242 frs-core:ShareCapital 2024-02-29 12481242 frs-core:RetainedEarningsAccumulatedLosses 2024-02-29 12481242 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 12481242 frs-bus:FilletedAccounts 2023-03-01 2024-02-29 12481242 frs-bus:SmallEntities 2023-03-01 2024-02-29 12481242 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-29 12481242 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 12481242 frs-bus:Director1 2023-03-01 2024-02-29 12481242 frs-bus:Director2 2023-03-01 2024-02-29 12481242 frs-countries:EnglandWales 2023-03-01 2024-02-29
Registered number: 12481242
Cosmic Kitchen Limited
Financial Statements
For The Year Ended 29 February 2024
Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 12481242
2024
Notes £ £
FIXED ASSETS
Intangible Assets 3 7,500
Tangible Assets 4 102,919
110,419
CURRENT ASSETS
Stocks 5 23,766
Debtors 6 14,641
Cash at bank and in hand 38,630
77,037
Creditors: Amounts Falling Due Within One Year 7 (72,280 )
NET CURRENT ASSETS (LIABILITIES) 4,757
TOTAL ASSETS LESS CURRENT LIABILITIES 115,176
Creditors: Amounts Falling Due After More Than One Year 8 (20,503 )
NET ASSETS 94,673
CAPITAL AND RESERVES
Called up share capital 9 2
Profit and Loss Account 94,671
SHAREHOLDERS' FUNDS 94,673
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For the 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.
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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Ms Gabriela Evangelou
Director
6th August 2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. Accounting Policies
1.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
1.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
1.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of .... years.
1.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 7% Reducing balance
Plant & Machinery 7% Reducing balance
Fixtures & Fittings 7% Reducing balance
1.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2. Average Number of Employees
Average number of employees, including directors, during the year was as follows: 20
20
3. Intangible Assets
Goodwill
£
Cost
As at 1 March 2023 15,000
As at 29 February 2024 15,000
Amortisation
As at 1 March 2023 6,000
Provided during the period 1,500
As at 29 February 2024 7,500
...CONTINUED
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Net Book Value
As at 29 February 2024 7,500
As at 1 March 2023 9,000
4. Tangible Assets
Land & Property
Leasehold Plant & Machinery Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 March 2023 10,591 66,786 34,351 111,728
Additions - 27,854 7,483 35,337
As at 29 February 2024 10,591 94,640 41,834 147,065
Depreciation
As at 1 March 2023 1,412 22,662 12,324 36,398
Provided during the period 643 5,039 2,066 7,748
As at 29 February 2024 2,055 27,701 14,390 44,146
Net Book Value
As at 29 February 2024 8,536 66,939 27,444 102,919
As at 1 March 2023 9,179 44,124 22,027 75,330
5. Stocks
2024
£
Stock 23,766
6. Debtors
2024
£
Due within one year
Trade debtors 14,641
14,641
7. Creditors: Amounts Falling Due Within One Year
2024
£
Trade creditors 15,009
Bank loans and overdrafts 9,911
Other taxes and social security 1,972
Net wages 7,012
Accruals and deferred income 1,200
Directors' loan accounts 37,176
72,280
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8. Creditors: Amounts Falling Due After More Than One Year
2024
£
Bank loans 20,503
20,503
9. Share Capital
2024
£
Allotted, Called up and fully paid 2
10. Directors Advances, Credits and Guarantees
Dividends paid to directors in the previous year are £70,300.
Dividends paid to the directors in the current year are nil.
The dividend note was not included in the previous years financial statements but has been included here for transparency.
11. General Information
Cosmic Kitchen Limited is a private company, limited by shares, incorporated in England & Wales, registered number 12481242 . The registered office is St Thomas Hall, Palace Street, Plymouth, PL1 2AY.
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