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REGISTERED NUMBER: 03912420 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

COTIC LIMITED

COTIC LIMITED (REGISTERED NUMBER: 03912420)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


COTIC LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2024







Director: Mr C D Turner





Registered office: 10 Everard Avenue
Bradway
Sheffield
South Yorkshire
S17 4LZ





Registered number: 03912420 (England and Wales)





Accountants: TC Group
10 Stadium Business Court
Millennium Way
Pride Park
Derby
Derbyshire
DE24 8HP

COTIC LIMITED (REGISTERED NUMBER: 03912420)

BALANCE SHEET
30 SEPTEMBER 2024

2024 2023
Notes £ £
Fixed assets
Tangible assets 4 15,710 16,761

Current assets
Stocks 467,549 539,584
Debtors 5 28,881 50,300
Cash at bank 1,843 10,065
498,273 599,949
Creditors
Amounts falling due within one year 6 (356,590 ) (274,601 )
Net current assets 141,683 325,348
Total assets less current liabilities 157,393 342,109

Creditors
Amounts falling due after more than one
year

7

(35,154

)

(114,193

)
Net assets 122,239 227,916

Capital and reserves
Called up share capital 10 100 100
Retained earnings 122,139 227,816
Shareholders' funds 122,239 227,916

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 10 June 2025 and were signed by:





Mr C D Turner - Director


COTIC LIMITED (REGISTERED NUMBER: 03912420)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1. STATUTORY INFORMATION

Cotic Limited 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.

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.

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

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 - 25% on cost
Motor vehicles - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred 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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

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 8 (2023 - 7 ) .

COTIC LIMITED (REGISTERED NUMBER: 03912420)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£ £ £
Cost
At 1 October 2023 36,431 - 36,431
Additions 354 7,083 7,437
At 30 September 2024 36,785 7,083 43,868
Depreciation
At 1 October 2023 19,670 - 19,670
Charge for year 7,750 738 8,488
At 30 September 2024 27,420 738 28,158
Net book value
At 30 September 2024 9,365 6,345 15,710
At 30 September 2023 16,761 - 16,761

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 28,264 43,119
Prepayments and accrued income 617 7,181
28,881 50,300

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Bank loans and overdrafts 155,529 160,219
Trade creditors 119,758 39,401
Tax - (12,034 )
Social security and other taxes 3,372 4,705
VAT 17,269 10,663
Other creditors 1,034 888
Directors' loan accounts 32,267 6,333
Accruals and deferred income 27,361 64,426
356,590 274,601

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£ £
Bank loans - 2-5 years 35,154 114,193

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£ £
Within one year 34,500 34,500
Between one and five years 138,000 138,000
In more than five years 112,125 146,625
284,625 319,125

9. SECURED DEBTS

The bank overdraft is secured by a fixed and floating charge.

COTIC LIMITED (REGISTERED NUMBER: 03912420)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2024

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
100 Ordinary £1 100 100

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 September 2024 and 30 September 2023:

2024 2023
£ £
Mr C D Turner
Balance outstanding at start of year (6,333 ) (2,426 )
Amounts advanced 34,066 43,063
Amounts repaid (60,000 ) (46,970 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (32,267 ) (6,333 )