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REGISTERED NUMBER: SC282881 (Scotland)













Unaudited Financial Statements

for the Year Ended 30 April 2024

for

Cobra Mobile Limited

Cobra Mobile Limited (Registered number: SC282881)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Cobra Mobile Limited

Company Information
for the Year Ended 30 April 2024







DIRECTORS: J A McGinley
M J Mackintosh
M Ettle





SECRETARY: J A McGinley





REGISTERED OFFICE: Unit 22 City Quay
Camperdown Street
Dundee
DD1 3JA





REGISTERED NUMBER: SC282881 (Scotland)





ACCOUNTANTS: Gerber Landa & Gee
Chartered Accountants
Pavilion 1
Finnieston Business Park
Minerva Way
GLASGOW
G3 8AU

Cobra Mobile Limited (Registered number: SC282881)

Balance Sheet
30 April 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,285 12,628

CURRENT ASSETS
Debtors 5 64,309 118,167
Cash at bank and in hand 33,359 6,946
97,668 125,113
CREDITORS
Amounts falling due within one year 6 2,943,475 2,660,313
NET CURRENT LIABILITIES (2,845,807 ) (2,535,200 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(2,842,522

)

(2,522,572

)

CAPITAL AND RESERVES
Called up share capital 300,000 300,000
Retained earnings (3,142,522 ) (2,822,572 )
SHAREHOLDERS' FUNDS (2,842,522 ) (2,522,572 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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 17 January 2025 and were signed on its behalf by:





J A McGinley - Director


Cobra Mobile Limited (Registered number: SC282881)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

Cobra Mobile Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

The financial statements have been prepared on the basis that the company will continue to trade for the foreseeable future. At 30 April 2024 the company's liabilities exceeded its assets by £2,842,522,. The company is dependent upon the continued support of its creditors and directors. The directors are confident that this support will be maintained for the foreseeable future. Should this support be withdrawn and the company be unable to continue trading, adjustments would have to be made to reduce the balance sheet values of assets to their recoverable amounts, and to reclassify fixed assets and long term liabilities as current assets and liabilities.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery etc - 20% on cost

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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Cobra Mobile Limited (Registered number: SC282881)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

2. ACCOUNTING POLICIES - continued

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 10 (2023 - 12 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 May 2023
and 30 April 2024 53,196
DEPRECIATION
At 1 May 2023 40,568
Charge for year 9,343
At 30 April 2024 49,911
NET BOOK VALUE
At 30 April 2024 3,285
At 30 April 2023 12,628

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors 52 37,400
Tax 50,200 76,705
VAT 2,087 -
Prepayments and accrued income 11,970 4,062
64,309 118,167

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Social security and other taxes 6,189 6,750
VAT - 8,876
Other creditors 2,440,657 2,216,757
Accrued expenses 496,629 427,930
2,943,475 2,660,313

Cobra Mobile Limited (Registered number: SC282881)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

7. RELATED PARTY DISCLOSURES

Narden Services Limited provided loans totalling £2,440,657 to the Company by 30 April 2024 of which £223,900 was received in the year to 30 April 2024. Interest was due on these loans at 3% per annum.. At 30 April 2024 no loan interest payments had been made to Narden Services Limited however a total of £486,431 has been accrued to this date.

Mr P Mackintosh and Mr M Mackintosh are directors of Narden Services Limited and Cobra Mobile Limited. Both individuals also each hold a 50% shareholding in Narden Services Limited.

Fees totalling £18,500 (2023:£24,950) were paid to McGinley Consultancy Limited in this period. An amount of £8,649 is due from McGinley Consultancy Limited at 30 April 2024 .McGinley Consultancy Limited is related to Cobra Mobile Limited by virtue of a common director in J McGinley.