Cobern Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 05997033

Cobern Limited

Filleted Unaudited Financial Statements

30 November 2024

Cobern Limited

Statement of Financial Position

30 November 2024

	2024		2023
Note	£	£	£

Fixed assets

Tangible assets	4		236,669	234,302

Current assets

Debtors	5	9,641	9,298
Cash at bank and in hand		–	878
		-------	--------
		9,641	10,176

Creditors: amounts falling due within one year	6	169,024		229,788
		---------		---------
Net current liabilities			159,383	219,612
			---------	---------
Total assets less current liabilities			77,286	14,690

Creditors: amounts falling due after more than one year	7	73,965	–
		--------	--------
Net assets		3,321	14,690
		--------	--------

Capital and reserves

Called up share capital	1	1
Profit and loss account	3,320	14,689
	-------	--------
Shareholders funds	3,321	14,690
	-------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- 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 Act with respect to accounting records and the preparation of financial statements .

Cobern Limited

Statement of Financial Position (continued)

30 November 2024

These financial statements were approved by the board of directors and authorised for issue on 3 September 2025 , and are signed on behalf of the board by:

Miss C Osman	Mr B Haywood
Director	Director

Company registration number: 05997033

Cobern Limited

Notes to the Financial Statements

Year ended 30 November 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 413 King Edwards Wharf, 25 Sheepcote Street, Birmingham, West Midlands, B16 8AB.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

The turnover shown in the profit and loss account represents the total rental income due less management fees charged during the year.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Equipment	-	33% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

4. Tangible assets

	Investment properties	Fixtures and fittings	Equipment	Total
	£	£	£	£
Cost
At 1 December 2023	234,302	–	669	234,971
Additions	–	2,367	–	2,367
	---------	-------	----	---------
At 30 November 2024	234,302	2,367	669	237,338
	---------	-------	----	---------
Depreciation
At 1 December 2023 and 30 November 2024	–	–	669	669
	---------	-------	----	---------
Carrying amount
At 30 November 2024	234,302	2,367	–	236,669
	---------	-------	----	---------
At 30 November 2023	234,302	–	–	234,302
	---------	-------	----	---------

Tangible assets held at valuation

The directors consider all the properties to be disclosed at their fair value.

5. Debtors

	2024	2023
	£	£
Other debtors	9,641	9,298
	-------	-------

6. Creditors: amounts falling due within one year

	2024	2023
	£	£
Bank loans and overdrafts	79,149	151,596
Trade creditors	154	–
Other creditors	89,721	78,192
	---------	---------
	169,024	229,788
	---------	---------

The bank loans are secured by a charge held by the lender.

7. Creditors: amounts falling due after more than one year

	2024	2023
	£	£
Bank loans and overdrafts	73,965	–
	--------	----

The bank loans are secured by a charge held by the lender.

8. Significant events during the year

The company has an ongoing issue with cladding on the investment properties that needs to be resolved. The investment properties have, since the balance sheet date been subject to an external wall survey, the result of which will decide the extent of the repair work required to ensure the cladding is fully compliant with fire regulations. At this stage the directors are unsure of the expected total costs but expect these to be covered by government grants and so not involve any significant additional costs to be incurred by the company. The directors have therefore not made any provision in the financial statements and will continue to review the matter in the future.

9. Directors' advances, credits and guarantees

At the balance sheet date the directors were owed £87,746 (2024: £76,146) by the company. ''