REGISTERED NUMBER: 03778489 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST JANUARY 2025

FOR

COSTOPTION LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

Ms J M Ainscow

Mrs L Holt

SECRETARY:

Ms J M Ainscow

REGISTERED OFFICE:

17 Moor Park Avenue

Preston

Lancashire

PR1 6AS

REGISTERED NUMBER:

03778489 (England and Wales)

ACCOUNTANTS:

SBCA Chartered Accountants

17 Moor Park Avenue

Preston

Lancashire

PR1 6AS

FIXED ASSETS

Investment property

4

580,000

151,141

CURRENT ASSETS

Debtors

5

350

10,150

Cash at bank

18,616

9,133

18,966

19,283

CREDITORS

Amounts falling due within one year

6

(58,003

)

(67,001

)

NET CURRENT LIABILITIES

(39,037

)

(47,718

)

TOTAL ASSETS LESS CURRENT LIABILITIES

540,963

103,423

CAPITAL AND RESERVES

Called up share capital

7

100

100

Fair value reserve

8

321,644

-

Retained earnings

8

219,219

103,323

SHAREHOLDERS' FUNDS

540,963

103,423

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st January 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st January 2025 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30th October 2025 and were signed on its behalf by:

Mrs L Holt - Director

1.	STATUTORY INFORMATION

Costoption 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 are the first 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.

First Year Adoption of Financial Reporting Standard 102 (FRS 102) Section 1A

The company previously prepared its financial statements in accordance with FRS 105: The Financial Reporting Standard applicable to the Micro-entities Regime.

The date of transition to FRS 102 is 1 February 2023, being the start of the comparative period.

As part of this transition, certain balances have been restated, including retained earnings, to reflect the remeasurement of investment property at fair value. Further details are provided in note 10.

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.

During the year, the company adopted FRS 102, changing its accounting policy for investment property from cost less depreciation to the fair value model. This resulted in a revaluation increase of £69,525 at the date of transition, which has been recognised by adjusting opening retained earnings.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Basic financial assets:

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future cash flows discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities:

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities:

Basic financial liabilities, including creditors and bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of future cash flows discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if the payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest rate method.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 2 (2024 - 2 ) .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1st February 2024

151,141

Revaluations

428,859

At 31st January 2025

580,000

NET BOOK VALUE

At 31st January 2025

580,000

At 31st January 2024

151,141

Fair value at 31st January 2025 is represented by:

£

Valuation in 2025

428,859

Cost

151,141

580,000

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

31.1.25

31.1.24

as

restated

£

£

Cost

151,141

151,141

Investment property was valued on an open market basis on 31st January 2025 by the Director. .

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.25

31.1.24

as

restated

£

£

Other debtors

350

10,150

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.25

31.1.24

as

restated

£

£

Taxation and social security

2,271

2,282

Other creditors

55,732

64,719

58,003

67,001

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.1.25

31.1.24

value:

as restated

£

£

100

Ordinary

£1

100

100

8.

RESERVES

Fair

Retained

value

earnings

reserve

Totals

£

£

£

At 1st February 2024

33,798

-

33,798

Prior year adjustment

69,525

69,525

103,323

103,323

Profit for the year

438,540

438,540

Dividends

(1,000

)

(1,000

)

Fair value reserve

(428,859

)

-

(428,859

)

Revaluation

-

428,859

428,859

Deferred tax provision

107,215

(107,215

)

-

At 31st January 2025

219,219

321,644

540,863