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Co-Save Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 August 2024

Registration number: 4696698

 

Co-Save Limited

Contents

Statement of financial position

1

Notes to the Unaudited Financial Statements

2 to 5

 

Co-Save Limited

(Registration number: 4696698)
Statement of financial position as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

-

300

Other financial assets

5

-

73,795

 

-

74,095

Current assets

 

Stocks

6

14,062

6,810

Debtors

7

29,839

51,627

Cash at bank and in hand

 

19,691

12,719

 

63,592

71,156

Creditors: Amounts falling due within one year

8

(17,337)

(21,505)

Net current assets

 

46,255

49,651

Net assets

 

46,255

123,746

Capital and reserves

 

Called up share capital

9

2

2

Retained earnings

46,253

123,744

Shareholders' funds

 

46,255

123,746

For the financial year ending 31 August 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 Income statement.

Approved and authorised by the director on 21 May 2025
 

.........................................
Mr R I Stanway
Director

 

Co-Save Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 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:
Solo House
The Courtyard
London Road
Horsham
West Sussex
RH12 1AT

These financial statements were authorised for issue by the director on 21 May 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.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the 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.

Tax

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.

Tangible assets

Tangible assets are stated in the statement of financial position 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.

 

Co-Save Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

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

Office equipment

25% reducing balance

Motor vehicles

25% 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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 5 (2023 - 5).

 

Co-Save Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

4

Tangible assets

Office equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 September 2023

2,860

4,000

6,860

Disposals

-

(4,000)

(4,000)

At 31 August 2024

2,860

-

2,860

Depreciation

At 1 September 2023

2,860

3,700

6,560

Eliminated on disposal

-

(3,700)

(3,700)

At 31 August 2024

2,860

-

2,860

Carrying amount

At 31 August 2024

-

-

-

At 31 August 2023

-

300

300

5

Other financial assets (current and non-current)

Financial assets at fair value through profit and loss
£

Total
£

Non-current financial assets

Cost or valuation

At 1 September 2023

73,795

73,795

Disposals

(73,795)

(73,795)

At 31 August 2024

-

-

Impairment

Carrying amount

At 31 August 2024

-

-

6

Stocks

2024
£

2023
£

Work in progress

14,062

6,810

 

Co-Save Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

7

Debtors

2024
£

2023
£

Trade debtors

27,977

49,905

Prepayments

1,062

919

Other debtors

800

803

29,839

51,627

8

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

3,134

1,567

Taxation and social security

9,888

17,387

Accruals and deferred income

2,000

2,400

Other creditors

2,315

151

17,337

21,505

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

2

2

2

2