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REGISTERED NUMBER: 05157241 (England and Wales)















W.E. Cox & Co. (Recoveries) Limited

Financial Statements

for the Year Ended 31 July 2024






W.E. Cox & Co. (Recoveries) Limited (Registered number: 05157241)

Contents of the Financial Statements
for the year ended 31 July 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


W.E. Cox & Co. (Recoveries) Limited

Company Information
for the year ended 31 July 2024







Directors: M D Cox
D W Cox
R E Emanuel
S J Smith





Secretary: D J Watts





Registered office: 2 Leman Street
London
E1W 9US





Registered number: 05157241 (England and Wales)





Accountants: Cooper Parry Advisory Limited
New Derwent House
69-73 Theobalds Road
London
WC1X 8TA

W.E. Cox & Co. (Recoveries) Limited (Registered number: 05157241)

Balance Sheet
31 July 2024

2024 2023
Notes £ £
Current assets
Debtors 4 965,685 825,176
Cash at bank and in hand 169,519 256,003
1,135,204 1,081,179
Creditors
Amounts falling due within one year 5 1,131,472 1,080,249
Net current assets 3,732 930
Total assets less current liabilities 3,732 930

Capital and reserves
Called up share capital 1 1
Retained earnings 3,731 929
3,732 930

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 November 2024 and were signed on its behalf by:





M D Cox - Director


W.E. Cox & Co. (Recoveries) Limited (Registered number: 05157241)

Notes to the Financial Statements
for the year ended 31 July 2024


1. Statutory information

W.E. Cox & Co. (Recoveries) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. Accounting policies

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover represents net invoiced sales of services, excluding value added tax.

Revenue from contracts for the provision of services is recognised when invoiced, which in the course of this company's business occurs when the marine claim has been settled.

Financial instruments
Financial assets and financial liabilities are recognised in the Balance Sheet when the Company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the Company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts which are an integral part of the Company's cash management.

Financial liabilities and equity instruments issued by the Company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities. Equity instruments issued by the Company are recorded at the proceeds received, net of direct issue costs.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

W.E. Cox & Co. (Recoveries) Limited (Registered number: 05157241)

Notes to the Financial Statements - continued
for the year ended 31 July 2024


2. Accounting policies - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. Employees and directors

The average number of employees during the year was 11 (2023 - 11 ) .

4. Debtors: amounts falling due within one year
2024 2023
£ £
Trade debtors 392,145 21,522
Amounts owed by group undertakings 400 -
Amounts owed by related parties 452,307 508,177
Other debtors 120,833 295,477
965,685 825,176

5. Creditors: amounts falling due within one year
2024 2023
£ £
Trade creditors 5,174 4,827
Amounts owed to group undertakings 367,950 359,772
Amounts owed to parent 329,510 321,556
Taxation and social security 15,269 12,593
Other creditors 413,569 381,501
1,131,472 1,080,249

6. Ultimate controlling party

The Company's immediate, and ultimate parent undertaking is W.E. Cox Claims Group Limited, which has taken the option under Section 398 of the Companies Act 2006 not to prepare consolidated financial statements.

The ultimate parent company's registered office is 2 Leman Street, London, E1W 9US.

The interest of the directors in that company's share capital can be found in the accounts of that company.