Cobalt Apex Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 08784568 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2024

for

COBALT APEX LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A S Cornish

R Sargent

SECRETARY:

A S Cornish

REGISTERED OFFICE:

Suite 5 Langford House

7 High Street

Chislehurst

Kent

BR7 5AB

REGISTERED NUMBER:

08784568 (England and Wales)

ACCOUNTANTS:

Maths Partnership

1 Brook Court

Blakeney Road

Beckenham

Kent

BR3 1HG

FIXED ASSETS

Investments

4

1,020

Investment property

5

9,632,063

9,633,083

CURRENT ASSETS

Debtors

6

2,420,609

38,044

Cash at bank

62,952

43,873

2,483,561

81,917

CREDITORS

Amounts falling due within one year

7

612,815

3,160,878

NET CURRENT ASSETS/(LIABILITIES)

1,870,746

(3,078,961

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

11,503,829

6,554,122

CREDITORS

Amounts falling due after more than one
year

8

(9,831,000

)

(5,551,000

)

PROVISIONS FOR LIABILITIES

(102,493

)

(102,493

)

NET ASSETS

1,570,336

900,629

CAPITAL AND RESERVES

Called up share capital

1,360

Fair value reserve

11

307,479

Retained earnings

1,261,497

591,790

SHAREHOLDERS' FUNDS

1,570,336

900,629

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 Income Statement 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:

A S Cornish - Director

1.	STATUTORY INFORMATION

Cobalt Apex 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.

Preparation of consolidated financial statements

The financial statements contain information about Cobalt Apex Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investments in subsidiaries and associates

Investments in subsidiary and associate undertakings are recognised at cost.

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 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 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4.	FIXED ASSET INVESTMENTS

Shares in

Interest

group

in

undertakings

associate

Totals

£

COST

At 1 January 2024

and 31 December 2024

620

400

1,020

NET BOOK VALUE

At 31 December 2024

620

400

1,020

At 31 December 2023

620

400

1,020

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

and 31 December 2024

9,632,063

NET BOOK VALUE

At 31 December 2024

9,632,063

At 31 December 2023

9,632,063

Fair value at 31 December 2024 is represented by:

£

Valuation in 2024

409,971

Cost

9,222,092

9,632,063

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

31.12.24

31.12.23

£

Cost

9,222,092

Investment properties were valued on an open market basis on 31 December 2024 by a director .

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Trade debtors

10,849

20,370

Amounts owed by group undertakings

2,395,121

-

Other debtors

14,639

17,674

2,420,609

38,044

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

Bank loans and overdrafts (see note 9)

220,000

Trade creditors

32,231

3,545

Amounts owed to group undertakings

-

2,882,581

Taxation and social security

2,260

11,169

Other creditors

358,324

43,583

612,815

3,160,878

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

31.12.24

31.12.23

£

Bank loans (see note 9)

9,831,000

5,551,000

9.

LOANS

An analysis of the maturity of loans is given below:

31.12.24

31.12.23

£

Amounts falling due within one year or on demand:

Bank loans

220,000

Amounts falling due between one and two years:

Bank loans - 1-2 years

220,000

Amounts falling due between two and five years:

Bank loans - 2-5 years

9,611,000

5,331,000

The bank loan of £4,836,000 is interest only and repayable in January 2028. The bank loan of £4,500,000 is interest only and repayable in March 2028.The other loan is repayable in instalments quarterly over 5 years.

10.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.24

31.12.23

£

Bank loans

10,051,000

5,771,000

The company's bank have fixed and floating charges over all its investment properties and assets & that of its subsidiary Cobalt Limited.

11.

RESERVES

Fair

value

reserve

£

At 1 January 2024

and 31 December 2024

307,479