Company Registration No. 14338998 (England and Wales)
Cobalt 24 Limited
Unaudited accounts
for the year ended 30 September 2024
Cobalt 24 Limited
Unaudited accounts
Contents
Cobalt 24 Limited
Company Information
for the year ended 30 September 2024
Directors
Mark Boyle
Clare Boyle
Company Number
14338998 (England and Wales)
Registered Office
Alston, Dumbah Lane
Prestbury
Macclesfield
Cheshire
SK10 4EW
United Kingdom
Accountants
Elevate Accounting Solutions Limited
14 John Bradshaw Court
Alexandria Way
Congleton
CW12 1LB
Cobalt 24 Limited
Statement of financial position
as at 30 September 2024
Tangible assets
552,767
551,736
Cash at bank and in hand
8,649
10,804
Creditors: amounts falling due within one year
(675,576)
(695,703)
Net current liabilities
(648,075)
(575,249)
Net liabilities
(95,308)
(23,513)
Called up share capital
200
200
Profit and loss account
(95,508)
(23,713)
Shareholders' funds
(95,308)
(23,513)
For the 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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 26 November 2024 and were signed on its behalf by
Mark Boyle
Director
Company Registration No. 14338998
Cobalt 24 Limited
Notes to the Accounts
for the year ended 30 September 2024
Cobalt 24 Limited is a private company, limited by shares, registered in England and Wales, registration number 14338998. The registered office is Alston, Dumbah Lane, Prestbury, Macclesfield, Cheshire, SK10 4EW, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
No depreciation
Computer equipment
Straight line on cost - 3 years
The directors have pledged their continued support to the company and as such, the accounts are prepared on a going concern basis.
Cobalt 24 Limited
Notes to the Accounts
for the year ended 30 September 2024
4
Tangible fixed assets
Land & buildings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 October 2023
551,057
698
551,755
At 30 September 2024
551,057
2,011
553,068
Charge for the year
-
282
282
At 30 September 2024
-
301
301
At 30 September 2024
551,057
1,710
552,767
At 30 September 2023
551,057
679
551,736
Amounts falling due within one year
6
Creditors: amounts falling due within one year
2024
2023
Trade creditors
5,263
18,546
Other creditors
5,399
3,599
Loans from directors
656,931
673,558
7
Average number of employees
During the year the average number of employees was 3 (2023: 2).