REGISTERED NUMBER: 11489467 (England and Wales)

Financial Statements

for the Period

1 September 2024 to 31 December 2024

for

COBALT SEARCH LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Miss H R Goddard

REGISTERED OFFICE:

42 Lytton Road

Barnet

Hertfordshire

EN5 5BY

REGISTERED NUMBER:

11489467 (England and Wales)

ACCOUNTANTS:

Jeff Lermer & Associates

Chartered Accountants

42 Lytton Road

Barnet

Hertfordshire

EN5 5BY

FIXED ASSETS

Tangible assets

4

74,281

30,301

CURRENT ASSETS

Debtors

5

624,386

510,996

Cash at bank

577,298

561,519

1,201,684

1,072,515

CREDITORS

Amounts falling due within one year

6

540,454

440,192

NET CURRENT ASSETS

661,230

632,323

TOTAL ASSETS LESS CURRENT LIABILITIES

735,511

662,624

CAPITAL AND RESERVES

Called up share capital

7

100

100

Retained earnings

735,411

662,524

SHAREHOLDERS' FUNDS

735,511

662,624

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 18 September 2025 and were signed by:

Miss H R Goddard - Director

1.	STATUTORY INFORMATION

Cobalt Search 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.

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.

Short leasehold

-

10% on cost

Long leasehold

-

Straight line over 15 years

Fixtures and fittings

-

20% on Cost

Computer equipment

-

25% on cost

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 8 (2024 - 8 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Short

Long

and

leasehold

leasehold

fittings

£

£

£

COST

At 1 September 2024

-

25,073

13,598

Additions

14,846

-

478

Disposals

-

(25,073

)

-

At 31 December 2024

14,846

-

14,076

DEPRECIATION

At 1 September 2024

-

6,686

8,286

Charge for period

1,485

-

2,813

Eliminated on disposal

-

(6,686

)

-

At 31 December 2024

1,485

-

11,099

NET BOOK VALUE

At 31 December 2024

13,361

-

2,977

At 31 August 2024

-

18,387

5,312

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 September 2024

-

18,284

56,955

Additions

60,740

-

76,064

Disposals

-

-

(25,073

)

At 31 December 2024

60,740

18,284

107,946

DEPRECIATION

At 1 September 2024

-

11,682

26,654

Charge for period

6,074

3,325

13,697

Eliminated on disposal

-

-

(6,686

)

At 31 December 2024

6,074

15,007

33,665

NET BOOK VALUE

At 31 December 2024

54,666

3,277

74,281

At 31 August 2024

-

6,602

30,301

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.8.24

£

£

Trade debtors

136,492

137,890

Amounts owed by group undertakings

1

1

Other debtors

9,141

9,360

Directors' current accounts

381,372

349,182

VAT

-

3,408

Prepayments and accrued income

97,380

11,155

624,386

510,996

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.8.24

£

£

Hire purchase contracts

50,765

-

Trade creditors

59,734

30,369

Amounts owed to group undertakings

289,461

289,461

Tax

97,344

84,513

Social security and other taxes

9,208

4,665

VAT

3,527

-

Other creditors

14,955

14,678

Accrued expenses

15,460

16,506

540,454

440,192

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.8.24

value:

£

£

99

Ordinary

£1

99

99

1

A Ordinary

£1

1

1

100

100

8.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

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

31.12.24

31.8.24

£

£

Miss H R Goddard

Balance outstanding at start of period

349,182

-

Amounts advanced

43,944

775,186

Amounts repaid

(11,754

)

(426,004

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of period

381,372

349,182

As at the balance sheet date, included in debtors due within one year is £381,372 (Aug-2024: £349,182), due and payable by the director. During the period interest was charged on the overdrawn loan account at 2.25%. This amount was repaid within 9 months of the year end.

9.	RELATED PARTY DISCLOSURES

At the balance sheet date the company owed £289,461 (Aug-2024: £289,461) to Allium Talent Solutions Limited and was owed £1 (Aug-2024: £1) by Beegee Investments Ltd. The companies are related parties by virtue of the fact that they are under common control.