REGISTERED NUMBER: 13560015 (England and Wales)

COZI LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

1 SEPTEMBER 2023 TO 30 SEPTEMBER 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

S J P R Clement

REGISTERED OFFICE:

124 City Road

London

London

EC1V 2NX

REGISTERED NUMBER:

13560015 (England and Wales)

FIXED ASSETS

Tangible assets

4

29,243

36,638

CURRENT ASSETS

Debtors

5

209,012

115,927

Cash at bank and in hand

416,040

337,071

625,052

452,998

CREDITORS

Amounts falling due within one year

6

465,308

332,189

NET CURRENT ASSETS

159,744

120,809

TOTAL ASSETS LESS CURRENT LIABILITIES

188,987

157,447

PROVISIONS FOR LIABILITIES

8

7,311

9,160

NET ASSETS

181,676

148,287

CAPITAL AND RESERVES

Called up share capital

9

1,000

1,000

Retained earnings

10

180,676

147,287

SHAREHOLDERS' FUNDS

181,676

148,287

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

The members have not required the company to obtain an audit of its financial statements for the period 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 19 June 2025 and were signed by:

S J P R Clement - Director

1.	STATUTORY INFORMATION

Cozi Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Significant judgements and estimates

In the application of the company's accounting policies, which are described in note 2, management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

Useful economic lives of tangible assets - The annual depreciation charge for tangible fixed assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect the current estimate based on technological advancement, future investments, economic utilisation and the physical condition of the assets. See notes for the carrying amount of the tangible fixed assets and accounting policies in note 2 for the useful economic lives of each class of asset.

Revenue Recognition

Management exercises judgement in determining the point at which commission income from referrals should be recognised. The company earns revenue when customers are referred to financial service providers, and commission terms may vary. Where commission is contingent on a successful agreement, revenue is only recognised when it is probable that the income will be received. If commission is earned solely on referral, revenue is recognised at the point of referral, subject to any clawback provisions.

The company assesses the likelihood of commission clawbacks based on past trends and contractual terms. Where a material risk of clawback exists, a provision is made to adjust recognised revenue accordingly.

Revenue recognition

Turnover represents commission income earned from referring customers to financial service providers, including lenders and brokers. Revenue is recognised at the point when the referral is made and the company becomes entitled to commission under the terms of the agreement with the financial service provider.

Turnover is measured at the fair value of the consideration received or receivable, excluding VAT and other sales taxes. Where commission income is subject to clawback provisions (i.e., if a referred customer does not proceed or cancels within a defined period), the company recognises revenue only to the extent that it is probable that the economic benefits will not be reversed.

Tangible fixed assets

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

Depreciation is provided at the following annual rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives:

Motor vehicles - 25% on reducing balance

Plant and machinery - 25% on reducing balance

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Financial instruments

Cash and cash equivalents

Cash and cash equivalents are basic financial instruments and include cash in hand and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Financial instruments

The company has elected to apply the provisions of Section 11 "Basic Financial Instruments".

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other debtors, loans to related companies and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the financial asset is measured at the present value of the future receipts discounted at a market rate of interest.

Basic financial liabilities

Basic financial liabilities, including trade and other creditors, loans to related companies and bank loans are initially recognised at transaction price unless the arrangement constitutes a financial transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, 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 period 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Impairment

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the assets cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Provisions

Provisions are recognised when the company has a present legal or constructive obligation as a result of past events; it is probable that an outflow of resources will be required to settle the obligation; and the amount of the obligation can be estimated reliably.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small.

Provision is not made for future operating losses.

Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as a finance cost.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 1 (2023 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 September 2023

50,494

1,497

51,991

Additions

2,715

-

2,715

At 30 September 2024

53,209

1,497

54,706

DEPRECIATION

At 1 September 2023

15,072

281

15,353

Charge for period

9,781

329

10,110

At 30 September 2024

24,853

610

25,463

NET BOOK VALUE

At 30 September 2024

28,356

887

29,243

At 31 August 2023

35,422

1,216

36,638

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.24

31.8.23

£

£

Trade debtors

74,616

55,248

Other debtors

-

1,000

S455 Taxation

2,119

-

Related parties

125,998

53,400

Directors' current accounts

6,279

6,279

209,012

115,927

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.24

31.8.23

£

£

Trade creditors

16,746

15,704

Tax

392,682

301,905

Other creditors

12,900

12,300

Accrued expenses

42,980

2,280

465,308

332,189

7.	LEASING AGREEMENTS

At 30 September 2024, the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £10,911.

8.	PROVISIONS FOR LIABILITIES

30.9.24

31.8.23

£

£

Deferred tax

7,311

9,160

Deferred

tax

£

Balance at 1 September 2023

9,160

Provided during period

(1,849

)

Balance at 30 September 2024

7,311

9.	CALLED UP SHARE CAPITAL

Allotted and issued:

Number:

Class:

Nominal

30.9.24

31.8.23

value:

£

£

750

Ordinary A shares of £1 each

£1

750

750

250

Ordinary B shares of £1 each

£1

250

250

1,000

1,000

10.

RESERVES

Retained

earnings

£

At 1 September 2023

147,287

Profit for the period

1,166,452

Dividends

(1,133,063

)

At 30 September 2024

180,676

11.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the period ended 30 September 2024 and the year ended 31 August 2023:

30.9.24

31.8.23

£

£

S J P R Clement

Balance outstanding at start of period

6,279

1

Amounts advanced

-

6,278

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of period

6,279

6,279

12.	RELATED PARTY DISCLOSURES

13.	CHANGE IN ACCOUNTING REFERENCE DATE

The company's accounting reference date has been changed from 31 August to 30 September. As a result, the financial statements cover a period of 12 months, from 1 September 2023 to 30 September 2024.