REGISTERED NUMBER: 01842892 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2024

for

COBALT LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr A S Cornish

Mr R Sargent

SECRETARIES:

Mr A S Cornish

Mr R Sargent

REGISTERED OFFICE:

Suite 5 Langford House

7 High Street

Chislehurst

Kent

BR7 5AB

REGISTERED NUMBER:

01842892 (England and Wales)

ACCOUNTANTS:

Maths Partnership

1 Brook Court

Blakeney Road

Beckenham

Kent

BR3 1HG

FIXED ASSETS

Tangible assets

4

1,210,778

1,261,771

Investments

5

2,121,216

2,121,216

Investment property

6

12,480,001

12,146,001

15,811,995

15,528,988

CURRENT ASSETS

Debtors

7

15,422,364

16,901,472

Cash at bank

918,815

453,278

16,341,179

17,354,750

CREDITORS

Amounts falling due within one year

8

15,459,136

13,482,029

NET CURRENT ASSETS

882,043

3,872,721

TOTAL ASSETS LESS CURRENT LIABILITIES

16,694,038

19,401,709

CREDITORS

Amounts falling due after more than one year

9

(4,998

)

(1,567,117

)

PROVISIONS FOR LIABILITIES

(1,132,582

)

(1,132,582

)

NET ASSETS

15,556,458

16,702,010

CAPITAL AND RESERVES

Called up share capital

620

620

Revaluation reserve

11

511,523

511,523

Fair value reserve

11

4,448,355

4,448,355

Retained earnings

10,595,960

11,741,512

SHAREHOLDERS' FUNDS

15,556,458

16,702,010

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

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

The directors acknowledge their 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 September 2025 and were signed on its behalf by:

Mr A S Cornish - Director

1.	STATUTORY INFORMATION

Cobalt Limited 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.

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 as modified by the revaluation of certain assets.

Turnover

Turnover represents the value of work carried out during the year, net of Value Added Tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

2% on cost

Fixtures, fittings & office equipment

-

20% on reducing balance

It is the policy of the company to revalue its freehold properties every year. These revaluations are carried out either by a professional external surveyor or by the company's own directors. These values are reviewed annually for any impairment.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 year 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.

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 year was 9 (2023 - 7 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures,

fittings

Freehold

& office

property

equipment

Totals

£

£

£

COST OR VALUATION

At 1 January 2024

and 31 December 2024

1,150,000

207,134

1,357,134

DEPRECIATION

At 1 January 2024

28,196

67,167

95,363

Charge for year

23,000

27,993

50,993

At 31 December 2024

51,196

95,160

146,356

NET BOOK VALUE

At 31 December 2024

1,098,804

111,974

1,210,778

At 31 December 2023

1,121,804

139,967

1,261,771

Cost or valuation at 31 December 2024 is represented by:

Fixtures,

fittings

Freehold

& office

property

equipment

Totals

£

£

£

Valuation in 2024

512,847

-

512,847

Cost

637,153

207,134

844,287

1,150,000

207,134

1,357,134

If freehold property had not been revalued it would have been included at the following historical cost:

31.12.24

31.12.23

£

£

Cost

637,153

637,153

Freehold property was valued on an open market basis on 31 December 2024 by the directors. .

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST OR VALUATION

At 1 January 2024

and 31 December 2024

2,121,216

NET BOOK VALUE

At 31 December 2024

2,121,216

At 31 December 2023

2,121,216

Cost or valuation at 31 December 2024 is represented by:

Other

investments

£

Valuation in 2024

2,116,214

Cost

5,002

2,121,216

If investments had not been revalued they would have been included at the following historical cost:

31.12.24

31.12.23

£

£

Cost

5,002

5,002

Other investments were valued on an open market basis on 31 December 2024 by the directors .

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

12,146,001

Additions

334,000

At 31 December 2024

12,480,001

NET BOOK VALUE

At 31 December 2024

12,480,001

At 31 December 2023

12,146,001

Fair value at 31 December 2024 is represented by:

£

Valuation in 2024

3,654,253

Cost

8,825,748

12,480,001

If investment properties had not been revalued they would have been included at the following historical cost:

31.12.24

31.12.23

£

£

Cost

8,825,748

8,491,748

Investment property was valued on an open market basis on 31 December 2024 by the directors .

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

62,943

83,250

Amounts owed by group undertakings

-

2,882,581

Amounts owed by participating interests

6,734,289

6,221,837

Other debtors

8,625,132

7,713,804

15,422,364

16,901,472

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans and overdrafts

10,648

458,648

Trade creditors

23,097

60,347

Amounts owed to group undertakings

2,415,536

20,415

Taxation and social security

22,532

56,368

Other creditors

12,987,323

12,886,251

15,459,136

13,482,029

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans

4,998

1,567,117

10.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.24

31.12.23

£

£

Bank loans

15,646

2,025,765

The commercial bank mortgages are secured on various freehold & leasehold properties owned by the company. Two loans are interest only and one repayable by instalments.The company also has a debenture with its bankers which guarantees the bank borrowings of Cobalt Ltd & Cobalt Apex Limited as well as other security held by the banks.

11.

RESERVES

Fair

Revaluation

value

reserve

reserve

Totals

£

£

£

At 1 January 2024

and 31 December 2024

511,523

4,448,355

4,959,878