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Registration number: 11586353

Coz I Can Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 30 September 2024

image-name
 

Coz I Can Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

Coz I Can Ltd

Company Information

Director

Mr David Whitely

Registered office

Ground Floor
19 New Road
Brighton
East Sussex
BN1 1UF

Accountants

Lucraft Hodgson & Dawes LLP
Ground Floor
19 New Road
Brighton
East Sussex
BN1 1UF

 

Coz I Can Ltd

(Registration number: 11586353)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed Assets

 

Tangible Assets

4

7,892

10,521

Current assets

 

Debtors

5

14,500

5,970

Cash at bank and in hand

 

14,998

14,653

 

29,498

20,623

Creditors: Amounts falling due within one year

6

(50,765)

(30,158)

Net current liabilities

 

(21,267)

(9,535)

Net (liabilities)/assets

 

(13,375)

986

Capital and Reserves

 

Called up share capital

100

100

Retained Earnings

(13,475)

886

Shareholders' (deficit)/funds

 

(13,375)

986

For the financial year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 24 March 2025
 

.........................................
Mr David Whitely
Director

   
     
 

Coz I Can Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Ground Floor
19 New Road
Brighton
East Sussex
BN1 1UF

These financial statements were authorised for issue by the director on 24 March 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are presented in Sterling, which is the functional currency of the company.

Going concern

These accounts have been prepared on a going concern basis notwithstanding the company's net liability position at the balance sheet date. The director is confident that with his continued support, the company can remain in operational existence for the foreseeable future.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Coz I Can Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible Assets

Tangible Assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant & Machinery

25% Reducing Balance

Motor Vehicle

20% Reducing Balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade Debtors

Trade Debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade Debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Coz I Can Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Trade Creditors

Trade Creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade Creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, analysed by category was as follows:

2024
 No.

2023
 No.

Administration and support

1

1

1

1

 

Coz I Can Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

4

Tangible Assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 October 2023

3,733

16,000

1,316

21,049

At 30 September 2024

3,733

16,000

1,316

21,049

Depreciation

At 1 October 2023

1,821

7,808

899

10,528

Charge for the year

477

2,048

104

2,629

At 30 September 2024

2,298

9,856

1,003

13,157

Carrying amount

At 30 September 2024

1,435

6,144

313

7,892

At 30 September 2023

1,912

8,192

417

10,521

5

Debtors

Current

2024
£

2023
£

Other debtors

14,500

5,970

 

14,500

5,970

 

Coz I Can Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

6

Creditors

Creditors: amounts falling due within one year

Note

2024
 £

2023
 £

Due within one year

 

Loans and borrowings

7

43,261

16,228

Trade Creditors

 

22

633

Social security and other taxes

 

1,834

2,216

Accrued expenses

 

3,065

1,887

Corporation Tax

2,583

9,194

 

50,765

30,158

 

Coz I Can Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

7

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Other borrowings

43,261

16,228

8

Related party transactions

Loans to related parties

2023

Key management
£

Total
£

At start of period

209

209

Repaid

(209)

(209)

At end of period

-

-

Loans from related parties

2024

Key management
£

Total
£

At start of period

16,227

16,227

Advanced

27,034

27,034

At end of period

43,261

43,261

2023

Key management
£

Total
£

Advanced

16,227

16,227

At end of period

16,227

16,227

Terms of loans from related parties

During the year the director provided the company with an interest free loan which was unsecured and repayable on demand.