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Registered number: 09094341


COSSACK LABS LIMITED








UNAUDITED

PAGES FOR FILING WITH REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024

 
COSSACK LABS LIMITED
REGISTERED NUMBER: 09094341

BALANCE SHEET
AS AT 31 DECEMBER 2024

2024
2023
Note
$
$

Fixed assets
  

Tangible assets
 4 
16,542
18,466

Investments
 5 
61
61

  
16,603
18,527

Current assets
  

Debtors: amounts falling due within one year
 6 
346,081
51,647

Cash at bank and in hand
 7 
603,401
842,000

  
949,482
893,647

Creditors: amounts falling due within one year
 8 
(384,272)
(287,614)

Net current assets
  
 
 
565,210
 
 
606,033

Total assets less current liabilities
  
581,813
624,560

Creditors: amounts falling due after more than one year
 9 
(5,463)
(18,664)

  

Net assets
  
576,350
605,896


Capital and reserves
  

Called up share capital 
 11 
1,612
1,637

Share premium account
  
279,932
284,285

Profit and loss account
  
294,806
319,974

  
576,350
605,896


Page 1

 
COSSACK LABS LIMITED
REGISTERED NUMBER: 09094341
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
J K J Swallow
Director

Date: 29 July 2025

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
COSSACK LABS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

Cossack Labs Limited is a private limited company, registered in the United Kingdom, domiciled in  England and Wales. The registered office address is 190 Clarence Gate Gardens, Glentworth Street, London, NW1 6AD.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional currency is GBP. This differs from the presentational currency which is USD.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of income and retained earnings within 'administrative expenses'. All other foreign exchange gains and losses are also presented in profit or loss within 'administrative expenses''.

Page 3

 
COSSACK LABS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Computer equipment
-
50%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 4

 
COSSACK LABS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.6

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of income and retained earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees

The average monthly number of employees, including the directors, during the year was as follows:


        2024
        2023
            No.
            No.







Employees
3
3

Page 5

 
COSSACK LABS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

4.


Tangible fixed assets





Computer equipment

$



Cost or valuation


At 1 January 2024
30,613


Additions
15,650



At 31 December 2024

46,263



Depreciation


At 1 January 2024
12,147


Charge for the year on owned assets
17,574



At 31 December 2024

29,721



Net book value



At 31 December 2024
16,542



At 31 December 2023
18,466


5.


Fixed asset investments





Other fixed asset investments

$



Cost or valuation


At 1 January 2024
61



At 31 December 2024
61




Page 6

 
COSSACK LABS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

6.


Debtors

2024
2023
$
$


Trade debtors
337,766
46,807

Other debtors
1,973
2,803

Prepayments and accrued income
6,342
2,037

346,081
51,647



7.


Cash and cash equivalents

2024
2023
$
$

Cash at bank and in hand
603,401
842,000

603,401
842,000



8.


Creditors: Amounts falling due within one year

2024
2023
$
$

Bank loans
12,895
12,758

Trade creditors
109,935
121,033

Other taxation and social security
54,641
-

Other creditors
163,940
113,443

Accruals and deferred income
42,861
40,380

384,272
287,614



9.


Creditors: Amounts falling due after more than one year

2024
2023
$
$

Bank loans
5,463
18,664

5,463
18,664


Page 7

 
COSSACK LABS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

10.


Loans


Analysis of the maturity of loans is given below:


2024
2023
$
$

Amounts falling due within one year

Bank loans
12,895
12,758


12,895
12,758

Amounts falling due 1-2 years

Bank loans
5,463
13,081


5,463
13,081

Amounts falling due 2-5 years

Bank loans
-
5,583


-
5,583


18,358
31,422



11.


Share capital

2024
2023
$
$
Allotted, called up and fully paid



1,612 (2023 - 1,637) Ordinary shares of £1.00 each
1,612
1,637

As at the year end, there were 128,556 (2023: 128,556) shares in issue at a nominal value of £0.01 per share. The share capital movements shown are as a result of these financial statements being reported in USD and relate to foreign exchange differences.


 
Page 8