REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 January 2024 |
for |
Century Cobalt Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 January 2024 |
for |
Century Cobalt Limited |
Century Cobalt Limited (Registered number: 13846642) |
Contents of the Financial Statements |
for the Year Ended 31 January 2024 |
Page |
Company Information | 1 |
Income Statement | 2 |
Other Comprehensive Income | 3 |
Balance Sheet | 4 |
Statement of Changes in Equity | 6 |
Notes to the Financial Statements | 7 |
Century Cobalt Limited |
Company Information |
for the Year Ended 31 January 2024 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Gravelye Farmhouse |
Hanlye Lane |
Cuckfield |
West Sussex |
RH17 5HR |
Century Cobalt Limited (Registered number: 13846642) |
Income Statement |
for the Year Ended 31 January 2024 |
Period |
13.1.22 |
Year Ended | to |
31.1.24 | 31.1.23 |
£ | £ |
TURNOVER |
Administrative expenses |
(280,516 | ) | (119,359 | ) |
Other operating income |
Gain/loss on revaluation of assets | - | (230,440 | ) |
OPERATING PROFIT/(LOSS) and |
PROFIT/(LOSS) BEFORE TAXATION | ( |
) |
Tax on profit/(loss) |
PROFIT/(LOSS) FOR THE FINANCIAL YEAR |
( |
) |
Century Cobalt Limited (Registered number: 13846642) |
Other Comprehensive Income |
for the Year Ended 31 January 2024 |
Period |
13.1.22 |
Year Ended | to |
31.1.24 | 31.1.23 |
Notes | £ | £ |
PROFIT/(LOSS) FOR THE YEAR | ( |
) |
OTHER COMPREHENSIVE INCOME | - | - |
TOTAL COMPREHENSIVE INCOME FOR THE YEAR |
( |
) |
Century Cobalt Limited (Registered number: 13846642) |
Balance Sheet |
31 January 2024 |
31.1.24 | 31.1.23 | 13.1.22 |
Notes | £ | £ | £ |
CURRENT ASSETS |
Debtors | 3 | - |
Cash at bank |
- |
CREDITORS |
Amounts falling due within one year | 4 | ( |
) | ( |
) |
NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
CREDITORS |
Amounts falling due after more than one year |
5 |
( |
) |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) | ( |
) |
( |
) | ( |
) |
The director acknowledges his 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. |
Century Cobalt Limited (Registered number: 13846642) |
Balance Sheet - continued |
31 January 2024 |
The financial statements were approved by the director and authorised for issue on |
Century Cobalt Limited (Registered number: 13846642) |
Statement of Changes in Equity |
for the Year Ended 31 January 2024 |
Called up |
share | Retained | Total |
capital | earnings | equity |
£ | £ | £ |
Changes in equity |
Issue of share capital | - |
Total comprehensive income | - | ( |
) | ( |
) |
Balance at 31 January 2023 | ( |
) | ( |
) |
Changes in equity |
Total comprehensive income | - |
Balance at 31 January 2024 | ( |
) | ( |
) |
Century Cobalt Limited (Registered number: 13846642) |
Notes to the Financial Statements |
for the Year Ended 31 January 2024 |
1. | STATUTORY INFORMATION |
Century Cobalt Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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. |
3. | DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.1.24 | 31.1.23 |
£ | £ |
Amounts owed by group undertakings |
Other debtors |
4. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.1.24 | 31.1.23 |
£ | £ |
Other creditors |
Century Cobalt Limited (Registered number: 13846642) |
Notes to the Financial Statements - continued |
for the Year Ended 31 January 2024 |
5. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.1.24 | 31.1.23 |
£ | £ |
Other creditors |
6. | RELATED PARTY DISCLOSURES |
AS at 31 January 2023, amounts due from the parent undertaking, Century Cobalt Corp was £143,992 (2023: £124,581) . The amounts due from the parent company undertaking are due on demand |
7. | ULTIMATE CONTROLLING PARTY |
The company is a wholly owned subsidiary of Century Cobalt Corp |
8. | EQUITY METHOD INVESTMENT |
On 14 September 2021, CCOB signed a share purchase agreement to sell the assets of Emperium 1 Holdings Corp ("Emperium") a wholly owned susidiary of CCOB, to Technology Minerals PLC ("TM PLC"), a related party. TM PLC became a UK public company during November 2021. During November 2021, CCOB was issued 470,000,00 unregistered shares (£0.001par value) of TM PLC common stock for the Company's Emperium assets. on 30 November 2022, the CCOB ownership interest in TM PLC was 38.8%. CCOB accounted for its investment in TM PLC is a related party, the Company valued the investment at cost of £230,439. The equity investment in TM PLC was moved to CCL on 13 January 2022 |
During the year ended 31 January 2024, the Company sold 74,000,000 shares of the TM PLC investment. The proceeds were £458,550. |
At 31 January 2024, the Company owned 389,625,000 ordinary shares of TM PLC |