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Registration number: 04393086

Cousin Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2024

 

Cousin Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Cousin Limited

Company Information

Directors

Mr M Booker

Mr P J Stephens

Registered office

Floor 4
43 Tanner Street
London
SE1 3PL

Registered number

04393086

Accountants

Ripe LLP
Chartered Accountants9A Burroughs Gardens
London
NW4 4AU

 

Cousin Limited

(Registration number: 04393086)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

3,791

4,670

Tangible assets

5

24,768

26,521

 

28,559

31,191

Current assets

 

Debtors

6

946,287

1,113,006

Cash at bank and in hand

 

1,811,543

948,238

 

2,757,830

2,061,244

Creditors: Amounts falling due within one year

7

(875,314)

(413,101)

Net current assets

 

1,882,516

1,648,143

Net assets

 

1,911,075

1,679,334

Capital and reserves

 

Called up share capital

8

54

54

Capital redemption reserve

46

46

Retained earnings

1,910,975

1,679,234

Shareholders' funds

 

1,911,075

1,679,334

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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 and 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 27 May 2025 and signed on its behalf by:
 

 

Cousin Limited

(Registration number: 04393086)
Balance Sheet as at 31 December 2024

.........................................

Mr M Booker

Director

 

Cousin Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 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:
Floor 4
43 Tanner Street
London
SE1 3PL

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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 (£) and figures are shown to the nearest whole pound.

Turnover

Turnover represents net invoiced sales of goods and services, excluding value added tax.

Government grants

Government grants in relation to expenditure are credited to profit and loss account when the expenditure is charged to profit and loss.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

Cousin Limited

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

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.

Tangible fixed assets

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

Furniture, fittings and equipment

20% on reducing balance

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Website development costs

20% on 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.

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.

 

Cousin Limited

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

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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 directors) during the year, was 4 (2023 - 4).

 

Cousin Limited

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

4

Intangible assets

Website development costs
 £

Total
£

Cost or valuation

At 1 January 2024

12,664

12,664

At 31 December 2024

12,664

12,664

Amortisation

At 1 January 2024

7,994

7,994

Amortisation charge

879

879

At 31 December 2024

8,873

8,873

Carrying amount

At 31 December 2024

3,791

3,791

At 31 December 2023

4,670

4,670

5

Tangible assets

Fixtures and fittings
£

Office equipment
£

Total
£

Cost or valuation

At 1 January 2024

26,488

59,779

86,267

Additions

1,159

2,671

3,830

At 31 December 2024

27,647

62,450

90,097

Depreciation

At 1 January 2024

21,738

38,008

59,746

Charge for the year

1,114

4,469

5,583

At 31 December 2024

22,852

42,477

65,329

Carrying amount

At 31 December 2024

4,795

19,973

24,768

At 31 December 2023

4,750

21,771

26,521

 

Cousin Limited

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

6

Debtors

Current

2024
£

2023
£

Trade debtors

858,467

1,023,782

Prepayments

37,824

76,581

Other debtors

49,996

12,643

 

946,287

1,113,006

 

Cousin Limited

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

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

435,847

70,984

Taxation and social security

176,999

216,443

Other creditors

262,468

125,674

875,314

413,101

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

54

54

54

54

       

9

Related party transactions

THE AQIFA DATA ALLIANCE LIMITED
A company in which Mr M Booker is a director and shareholder.

We have provided the provision of £121,084 for the balance due from THE AQIFA DATA ALLIANCE LIMITED as at the balance sheet date.

Transactions with the director
At the balance sheet date, the company owed £2,274 (2023: £2,115) to Mr M Booker, a director and shareholder of the company.