Company registration number 03365186 (England and Wales)
COCKBURN LUCAS INDEPENDENT FINANCIAL CONSULTING LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2025
PAGES FOR FILING WITH REGISTRAR
COCKBURN LUCAS INDEPENDENT FINANCIAL CONSULTING LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Statement of changes in equity
4
Notes to the financial statements
5 - 7
COCKBURN LUCAS INDEPENDENT FINANCIAL CONSULTING LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF COCKBURN LUCAS INDEPENDENT FINANCIAL CONSULTING LIMITED FOR THE YEAR ENDED 31 MAY 2025
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Cockburn Lucas Independent Financial Consulting Limited for the year ended 31 May 2025 which comprise, the balance sheet, the statement of changes in equity and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.
This report is made solely to the board of directors of Cockburn Lucas Independent Financial Consulting Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Cockburn Lucas Independent Financial Consulting Limited and state those matters that we have agreed to state to the board of directors of Cockburn Lucas Independent Financial Consulting Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Cockburn Lucas Independent Financial Consulting Limited and its board of directors as a body, for our work or for this report.
It is your duty to ensure that Cockburn Lucas Independent Financial Consulting Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Cockburn Lucas Independent Financial Consulting Limited. You consider that Cockburn Lucas Independent Financial Consulting Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Cockburn Lucas Independent Financial Consulting Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Taylor Dawson Plumb Limited
Chartered Accountants
22 Regent Street
Nottingham
NG1 5BQ
14 July 2025
COCKBURN LUCAS INDEPENDENT FINANCIAL CONSULTING LIMITED
BALANCE SHEET
- 2 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
6,305
9,098
Current assets
Debtors
4
42,391
35,989
Investments
5
282,520
235,059
Cash at bank and in hand
240,833
170,107
565,744
441,155
Creditors: amounts falling due within one year
6
(227,283)
(204,834)
Net current assets
338,461
236,321
Total assets less current liabilities
344,766
245,419
Provisions for liabilities
7
(33,808)
(22,650)
Net assets
310,958
222,769
Capital and reserves
Called up share capital
9
1,200
1,200
Share premium account
24,450
24,450
Capital redemption reserve
97
97
Other reserves
1,874
1,071
Profit and loss reserves
283,337
195,951
Total equity
310,958
222,769
COCKBURN LUCAS INDEPENDENT FINANCIAL CONSULTING LIMITED
BALANCE SHEET (CONTINUED)
- 3 -
For the financial year ended 31 May 2025 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 of its financial statements for the year in question in accordance with section 476.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 14 July 2025 and are signed on its behalf by:
M J Horseman
W S A Shaw
Director
Director
Company registration number 03365186 (England and Wales)
COCKBURN LUCAS INDEPENDENT FINANCIAL CONSULTING LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MAY 2025
- 4 -
Share capital
Share premium account
Capital redemption reserve
Share options reserve
Profit and loss reserves
Total
Notes
£
£
£
£
£
£
Balance at 1 June 2023
1,200
24,450
97
-
146,362
172,109
Year ended 31 May 2024:
Profit and total comprehensive income
-
-
-
-
224,165
224,165
Dividends
-
-
-
-
(174,576)
(174,576)
Credit to equity for equity settled share-based payments
8
-
-
-
-
1,071
1,071
Transfers
-
-
-
1,071
(1,071)
-
Balance at 31 May 2024
1,200
24,450
97
1,071
195,951
222,769
Year ended 31 May 2025:
Profit and total comprehensive income
-
-
-
-
261,962
261,962
Dividends
-
-
-
-
(174,576)
(174,576)
Credit to equity for equity settled share-based payments
8
-
-
-
-
803
803
Transfers
-
-
-
803
(803)
-
Balance at 31 May 2025
1,200
24,450
97
1,874
283,337
310,958
COCKBURN LUCAS INDEPENDENT FINANCIAL CONSULTING LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2025
- 5 -
1
Accounting policies
Company information
Cockburn Lucas Independent Financial Consulting Limited is a private company limited by shares incorporated in England and Wales. The registered office is Aspire House, 1st Floor, 19/21 Musters Road, West Bridgford, Nottingham, Nottinghamshire, NG2 7PP.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover represents fees receivable during the period. Fees are considered receivable when premiums become payable.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
15% on reducing balance
Computers
33% on cost
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
Current tax is recognised at the amount of corporation tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Deferred tax
Full provision is made for deferred tax assets and liabilities arising from timing difference between the recognition of gains and losses in the accounts and their recognition for tax purposes.
1.5
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.
COCKBURN LUCAS INDEPENDENT FINANCIAL CONSULTING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
1
Accounting policies
(Continued)
- 6 -
1.6
Share-based payments
Equity-settled share-based payments are measured at fair value at the date of grant by reference to the fair value of the equity instruments granted using the Black-Scholes Option Pricing model. The fair value determined at the grant date is expensed on a straight-line basis over the vesting period, based on the estimate of shares that will eventually vest. A corresponding adjustment is made to equity.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2025
2024
Number
Number
Total
18
18
3
Tangible fixed assets
Fixtures and fittings
Computers
Total
£
£
£
Cost
At 1 June 2024
34,371
87,594
121,965
Additions
2,723
2,723
Disposals
(8,153)
(8,153)
At 31 May 2025
26,218
90,317
116,535
Depreciation and impairment
At 1 June 2024
30,074
82,793
112,867
Depreciation charged in the year
518
4,154
4,672
Eliminated in respect of disposals
(7,309)
(7,309)
At 31 May 2025
23,283
86,947
110,230
Carrying amount
At 31 May 2025
2,935
3,370
6,305
At 31 May 2024
4,297
4,801
9,098
4
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
29,780
17,754
Other debtors
12,611
18,235
42,391
35,989
COCKBURN LUCAS INDEPENDENT FINANCIAL CONSULTING LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2025
- 7 -
5
Current asset investments
2025
2024
£
£
Other investments
282,520
235,059
Current asset investments are included in the Balance Sheet at their fair value, with changes recognised in the Income Statement.
6
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
2,042
Taxation and social security
105,312
103,142
Other creditors
121,971
99,650
227,283
204,834
7
Provisions for liabilities
2025
2024
£
£
Deferred tax liabilities
33,808
22,650
8
Share-based payment transactions
Liabilities and expenses
During the year, the company recognised total share-based payment expenses of £803 (2024 - £1,071) which related to equity settled share based payment transactions.
9
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
of £1 each
1,200
1,200
1,200
1,200
10
Financial commitments, guarantees and contingent liabilities
Total financial commitments which are not included in the Balance Sheet amounted to £86,816 (2024: £136,044). This was predominantly with respect to property lease and vehicle lease commitments for the period from the year end to the end of the lease.