Cossack Asset Management Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 03413834 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024

FOR

COSSACK ASSET MANAGEMENT LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

R M Kingston

REGISTERED OFFICE:

70 Woodland Rise

Muswell Hill

London

N10 3UJ

REGISTERED NUMBER:

03413834 (England and Wales)

FIXED ASSETS

Tangible assets

4

58,892

78,522

Investments

5

35,000

Investment property

6

479,600

634,600

573,492

748,122

CURRENT ASSETS

Debtors

7

227,286

263,467

Cash at bank and in hand

748

43,061

228,034

306,528

CREDITORS

Amounts falling due within one year

8

139,039

162,908

NET CURRENT ASSETS

88,995

143,620

TOTAL ASSETS LESS CURRENT
LIABILITIES

662,487

891,742

CREDITORS

Amounts falling due after more than one
year

9

(287,309

)

(299,309

)

PROVISIONS FOR LIABILITIES

-

(29,450

)

NET ASSETS

375,178

562,983

CAPITAL AND RESERVES

Called up share capital

100

Undistributable reserve

11

-

125,550

Retained earnings

11

375,078

437,333

SHAREHOLDERS' FUNDS

375,178

562,983

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

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

The director acknowledges his 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 10 December 2025 and were signed by:

R M Kingston - Director

1.	STATUTORY INFORMATION

Cossack Asset Management 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 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.

Plant and machinery etc

-

25% on reducing balance

Investment property

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

This is a departure from the Companies Act which requires assets to be depreciated. However, in the opinion of the directors, property is held primarily for their investment potential and so fair value is of more significance as a measure of consumption. They therefore have applied a true and fair override with respect to investment properties.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 September 2023

and 31 August 2024

159,252

DEPRECIATION

At 1 September 2023

80,730

Charge for year

19,630

At 31 August 2024

100,360

NET BOOK VALUE

At 31 August 2024

58,892

At 31 August 2023

78,522

5.	FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:

31.8.24

31.8.23

£

Fixed asset investments

35,000

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 September 2023

634,600

Revaluations

(155,000

)

At 31 August 2024

479,600

NET BOOK VALUE

At 31 August 2024

479,600

At 31 August 2023

634,600

Fair value at 31 August 2024 is represented by:

£

Valuation in 2016

95,000

Valuation in 2017

60,000

Valuation in 2024

(155,000

)

Cost

479,600

The investment property has been shown at fair value basis by the director.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.24

31.8.23

£

Other debtors

227,286

263,467

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.24

31.8.23

£

Bank loans and overdrafts

69,390

87,643

Trade creditors

1

-

Taxation and social security

50,733

68,313

Other creditors

18,915

6,952

139,039

162,908

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

31.8.24

31.8.23

£

Bank loans

287,309

299,309

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans more 5 yrs non-inst

287,309

299,309

10.	SECURED DEBTS

The following secured debts are included within creditors:

31.8.24

31.8.23

£

Bank loan

287,309

386,952

Bank loans are secured against company's assets by way of fixed charge.

11.

RESERVES

Retained

Undistributable

earnings

reserve

Totals

£

At 1 September 2023

437,333

125,550

562,883

Deficit for the year

(62,255

)

(62,255

)

Movements during the period

-

(125,550

)

(125,550

)

At 31 August 2024

375,078

-

375,078

12.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 August 2024 and 31 August 2023:

31.8.24

31.8.23

£

R M Kingston

Balance outstanding at start of year

(269

)

13,146

Amounts advanced

60,769

128,234

Amounts repaid

(79,415

)

(141,649

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

(18,915

)

(269

)