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Company Registration No. 07913069 (England and Wales)
Cosi Carpets Ltd Unaudited accounts for the year ended 31 May 2024
Cosi Carpets Ltd Unaudited accounts Contents
Page
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Cosi Carpets Ltd Statement of financial position as at 31 May 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
39,448 
64,090 
Current assets
Inventories
83,250 
94,995 
Debtors
600,757 
384,274 
Cash at bank and in hand
45,088 
21,168 
729,095 
500,437 
Creditors: amounts falling due within one year
(223,495)
(106,138)
Net current assets
505,600 
394,299 
Total assets less current liabilities
545,048 
458,389 
Creditors: amounts falling due after more than one year
(138,484)
(81,433)
Provisions for liabilities
Deferred tax
(7,495)
- 
Net assets
399,069 
376,956 
Capital and reserves
Called up share capital
200 
200 
Profit and loss account
398,869 
376,756 
Shareholders' funds
399,069 
376,956 
For the year ending 31 May 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 31 May 2025 and were signed on its behalf by
Amol Khullar Director Company Registration No. 07913069
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Cosi Carpets Ltd Notes to the Accounts for the year ended 31 May 2024
1
Statutory information
Cosi Carpets Ltd is a private company, limited by shares, registered in England and Wales, registration number 07913069. The registered office is 343 Bath Road, Slough, Berkshire, SL1 5PR.
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
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:
Motor vehicles
25% reducing balance
Fixtures & fittings
25% reducing balance
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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Cosi Carpets Ltd Notes to the Accounts for the year ended 31 May 2024
4
Tangible fixed assets
Land & buildings 
Motor vehicles 
Fixtures & fittings 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 June 2023
30,903 
59,990 
27,158 
118,051 
Additions
- 
200 
- 
200 
Disposals
(16,565)
- 
- 
(16,565)
At 31 May 2024
14,338 
60,190 
27,158 
101,686 
Depreciation
At 1 June 2023
4,820 
23,781 
25,360 
53,961 
Charge for the year
- 
9,080 
449 
9,529 
On disposals
(1,252)
- 
- 
(1,252)
At 31 May 2024
3,568 
32,861 
25,809 
62,238 
Net book value
At 31 May 2024
10,770 
27,329 
1,349 
39,448 
At 31 May 2023
26,083 
36,209 
1,798 
64,090 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
- 
1,303 
Trade debtors
143,892 
59,548 
Other debtors
456,865 
323,423 
600,757 
384,274 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
1,883 
- 
Trade creditors
137,040 
66,007 
Taxes and social security
24,746 
7,162 
Other creditors
2,575 
3,387 
Loans from directors
55,051 
27,832 
Accruals
2,200 
1,750 
223,495 
106,138 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
116,698 
47,655 
Obligations under finance leases and hire purchase contracts
21,786 
33,778 
138,484 
81,433 
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Cosi Carpets Ltd Notes to the Accounts for the year ended 31 May 2024
8
Transactions with related parties
During the year, Baljinder Singh, a director of the Company paid £2,739 (Nil: 2023) for expenses on behalf of the Company. This is treated as a interest free loan which is repayable on demand. At the balance sheet date, the Company owed him £10,248 (2023: £7,510). During the year, Amol Khullar, a director of the Company loaned £24,479 (Nil: 2023) to the Company. This is treated as a interest free loan which is repayable on demand. At the balance sheet date, the Company owed him £41,802 (2023: £17,323). During the year, the Company loaned Cosi Group Ltd, £39,000 (2023: Nil), in which all directors have an interest. This loan is interest free and repayable on demand. Ad the balance sheet date, the Company was owed £39,000 (2023: £Nil). During the year, the Company loaned Cosi Carpets Radlett Ltd, £86,952 (2023: Nil), in which all directors have an interest. This loan is interest free and repayable on demand. Ad the balance sheet date, the Company was owed £86,952 (2023: £Nil) During the year, the Company loaned Cosi Carpets Ashford Ltd, £12,490 (2023: Nil), in which all directors have an interest. This loan is interest free and repayable on demand. Ad the balance sheet date, the Company was owed £12,490 (2023: £Nil)
9
Average number of employees
During the year the average number of employees was 5 (2023: 5).
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