Caseware UK (AP4) 2024.0.164 2024.0.164 falsefalse1No description of principal activity2023-09-01trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.0false NI697012 2023-08-31 NI697012 2023-09-01 2024-08-31 NI697012 2022-09-01 2023-08-31 NI697012 2024-08-31 NI697012 c:Director1 2023-09-01 2024-08-31 NI697012 d:OfficeEquipment 2023-09-01 2024-08-31 NI697012 d:OfficeEquipment 2024-08-31 NI697012 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 NI697012 d:CurrentFinancialInstruments 2024-08-31 NI697012 d:CurrentFinancialInstruments d:WithinOneYear 2024-08-31 NI697012 d:SharePremium 2024-08-31 NI697012 d:RetainedEarningsAccumulatedLosses 2024-08-31 NI697012 c:FRS102 2023-09-01 2024-08-31 NI697012 c:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 NI697012 c:FullAccounts 2023-09-01 2024-08-31 NI697012 c:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 NI697012 e:PoundSterling 2023-09-01 2024-08-31 iso4217:GBP xbrli:pure

Registered number: NI697012










Cosysolar Limited








Unaudited

Financial statements

Information for filing with the registrar

For the Year Ended 31 August 2024

 
Cosysolar Limited
 
  
Chartered Accountants' Report to the Director on the Unaudited Statutory Financial Statements of Cosysolar Limited for the Year Ended 31 August 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of Cosysolar Limited for the year ended 31 August 2024 which comprise  the Balance Sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

This report is made to the director of Cosysolar Limited in accordance with the terms of our engagement letter dated 26 May 2023Our work has been undertaken so that we might compile the financial statements of Cosysolar Limited that we have been engaged to compile, report to the Company's Director that we have done so and state those matters that we have agreed to state to the director of Cosysolar Limited in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Cosysolar Limited and its director for our work or for this report. 

We have carried out this engagement in accordance with technical guidance issued by the Institute of Chartered Accountants in Ireland and have complied with the ethical guidance laid down by the Institute relating to members undertaking the compilation of financial statements.

You have acknowledged on the Balance Sheet as at 31 August 2024 your duty to ensure that Cosysolar Limited has kept adequate accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006 of Cosysolar Limited. You consider that Cosysolar Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit of the financial statements of Cosysolar Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.

  



Sumer Accountants NI Ltd
 
Glendinning House
6 Murray Street
Belfast
BT1 6DN
4 February 2025
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Cosysolar Limited
Registered number: NI697012

Balance Sheet
As at 31 August 2024

2024
Note
£

Fixed assets
  

Tangible assets
 4 
11,518

  
11,518

Current assets
  

Stocks
  
6,550

Debtors: amounts falling due within one year
 6 
12,865

Cash at bank and in hand
 7 
65

  
19,480

Creditors: amounts falling due within one year
 8 
(83,426)

Net current (liabilities)/assets
  
 
 
(63,946)

Total assets less current liabilities
  
(52,428)

  

Net (liabilities)/assets
  
(52,428)


Capital and reserves
  

Share premium account
  
100

Profit and loss account
  
(52,528)

  
(52,428)


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 4 February 2025.



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Cosysolar Limited
Registered number: NI697012

Balance Sheet (continued)
As at 31 August 2024


Mr P Polly
Director

The notes on pages 4 to 8 form part of these financial statements.

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Cosysolar Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 August 2024

1.


General information

Cosysolar Limited is a private company limited by shares incorporated in Northern Ireland. The registration number and address of the registered office are given in the company information section of these financial statements.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

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Cosysolar Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 August 2024

2.Accounting policies (continued)

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment
-

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.4

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

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Cosysolar Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 August 2024

3.


Employees

2024
£

Wages and salaries
2,740

2,740


The average monthly number of employees, including the director, during the year was as follows:


        2024
            No.






Employees
1


4.


Tangible fixed assets





Office equipment

£



Cost or valuation


Additions
12,124



At 31 August 2024

12,124



Depreciation


Charge for the year on owned assets
606



At 31 August 2024

606



Net book value



At 31 August 2024
11,518

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Cosysolar Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 August 2024

5.


Stocks

2024
£

Finished goods and goods for resale
6,550

6,550



6.


Debtors

2024
£


Trade debtors
6,520

Amounts owed by group undertakings
100

Other debtors
6,245

12,865



7.


Cash and cash equivalents

2024
£

Cash at bank and in hand
65

65



8.


Creditors: Amounts falling due within one year

2024
£

Trade creditors
14,124

Amounts owed to group undertakings
68,390

Other taxation and social security
912

83,426



9.


Related party transactions

The company has availed of the exemption under FRS 102 in relation to the disclosure of transactions with wholly owned group companies.

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Cosysolar Limited
 

 
Notes to the Financial Statements
For the Year Ended 31 August 2024

10.


Controlling party

Cosy Group Holdings Limited, a Northern Ireland registered company, is the 100% parent company of CosySolar Limited. Mr Philip Polly is the ultimate controlling party of the Company. 


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