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REGISTERED NUMBER: 12155092 (England and Wales)















COACT TECHNOLOGIES LTD

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024






COACT TECHNOLOGIES LTD (REGISTERED NUMBER: 12155092)

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 August 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


COACT TECHNOLOGIES LTD

COMPANY INFORMATION
for the year ended 31 August 2024







DIRECTORS: S J Clarke
J L Filewood





REGISTERED OFFICE: 71-75 Shelton Street
London
WC2H 9JQ





REGISTERED NUMBER: 12155092 (England and Wales)





ACCOUNTANTS: SMH Sheards
Vernon House
40 New North Road
Huddersfield
West Yorkshire
HD1 5LS

COACT TECHNOLOGIES LTD (REGISTERED NUMBER: 12155092)

BALANCE SHEET
31 August 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 573 2,399

CURRENT ASSETS
Debtors 5 231 -
Cash at bank and in hand 1,615 3,209
1,846 3,209
CREDITORS
Amounts falling due within one year 6 (15,134 ) (13,177 )
NET CURRENT LIABILITIES (13,288 ) (9,968 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(12,715

)

(7,569

)

CREDITORS
Amounts falling due after more than one
year

7

(34,871

)

(41,620

)
NET LIABILITIES (47,586 ) (49,189 )

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings (47,587 ) (49,190 )
SHAREHOLDERS' FUNDS (47,586 ) (49,189 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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.

COACT TECHNOLOGIES LTD (REGISTERED NUMBER: 12155092)

BALANCE SHEET - continued
31 August 2024


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 2 May 2025 and were signed on its behalf by:





J L Filewood - Director


COACT TECHNOLOGIES LTD (REGISTERED NUMBER: 12155092)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 August 2024


1. STATUTORY INFORMATION

Coact Technologies Ltd is a private company, limited by shares , registered in England and Wales. 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 directors and shareholders have indicated their willingness to support the company in its formative years. Hence, the directors continue to adopt the going concern basis of preparing the financial statements.

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

Income is derived from subscriptions which are taken to turnover upon receipt.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost and 25% on cost

Financial instruments
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.

Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction costs.

Financial assets are assessed for indicators of impairment at each balance sheet date, with any impairment losses being recognised in profit or loss. If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed in profit or loss.

Financial liabilities are classified depending on the substance of the contractual arrangements entered into.

Basic financial liabilities, including trade and other creditors, bank loans and accruals, are initially recognised at transaction price.

Debt instruments are subsequently measured at amortised cost using the effective interest method.

Financial assets and liabilities are derecognised when the company's contractual obligations are settled, cancelled or they expire.


COACT TECHNOLOGIES LTD (REGISTERED NUMBER: 12155092)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 August 2024


2. ACCOUNTING POLICIES - continued
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 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 1 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 September 2023
and 31 August 2024 9,572
DEPRECIATION
At 1 September 2023 7,173
Charge for year 1,826
At 31 August 2024 8,999
NET BOOK VALUE
At 31 August 2024 573
At 31 August 2023 2,399

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 231 -

COACT TECHNOLOGIES LTD (REGISTERED NUMBER: 12155092)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 August 2024


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 6,749 6,749
Taxation and social security 3,850 4,978
Other creditors 4,535 1,450
15,134 13,177

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 34,871 41,620

Amounts falling due in more than five years:

Repayable by instalments
Bank loans 7,875 14,624

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 41,620 48,369

The bank loan is secured by way of government initiative.