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TIM COBB ASSOCIATES LIMITED

Registered Number
04428087
(England and Wales)

Unaudited Financial Statements for the Year ended
31 October 2024

TIM COBB ASSOCIATES LIMITED
Company Information
for the year from 1 November 2023 to 31 October 2024

Directors

COBB, Susan Smith
COBB, Timothy Michael

Company Secretary

COBB, Susan Smith

Registered Address

Chamber House
49 Gildredge Road
Eastbourne
BN21 4RY

Registered Number

04428087 (England and Wales)
TIM COBB ASSOCIATES LIMITED
Statement of Financial Position
31 October 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets43,2374,378
Investments55151
3,2884,429
Current assets
Debtors35,737111,452
Cash at bank and on hand125,92567,296
161,662178,748
Creditors amounts falling due within one year6(80,761)(113,215)
Net current assets (liabilities)80,90165,533
Total assets less current liabilities84,18969,962
Provisions for liabilities7(809)(1,094)
Net assets83,38068,868
Capital and reserves
Profit and loss account83,38068,868
Shareholders' funds83,38068,868
The financial statements were approved and authorised for issue by the Board of Directors on 6 March 2025, and are signed on its behalf by:
COBB, Susan Smith
Director
Registered Company No. 04428087
TIM COBB ASSOCIATES LIMITED
Notes to the Financial Statements
for the year ended 31 October 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Turnover policy
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.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortization and any accumulated impairment losses
Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2002, was amortized evenly over its estimated useful life of ten years.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
2.Average number of employees

20242023
Average number of employees during the year25
3.Intangible assets

Goodwill

Total

££
Cost or valuation
At 01 November 2370,00070,000
At 31 October 2470,00070,000
Amortisation and impairment
At 01 November 2370,00070,000
At 31 October 2470,00070,000
Net book value
At 31 October 24--
At 31 October 23--
4.Tangible fixed assets

Fixtures & fittings

Office Equipment

Total

£££
Cost or valuation
At 01 November 2319,49650,92470,420
Additions-274274
At 31 October 2419,49651,19870,694
Depreciation and impairment
At 01 November 2319,01547,02766,042
Charge for year961,3191,415
At 31 October 2419,11148,34667,457
Net book value
At 31 October 243852,8523,237
At 31 October 234813,8974,378
5.Fixed asset investments

Investments in groups1

Total

££
Cost or valuation
At 01 November 235151
At 31 October 245151
Net book value
At 31 October 245151
At 31 October 235151

Notes

1Investments in group undertakings and participating interests
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables1,09813,344
Taxation and social security69,99876,052
Other creditors7,4155,649
Accrued liabilities and deferred income2,25018,170
Total80,761113,215
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
7.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)8091,094
Total8091,094