ACCOUNTS - Final Accounts preparation

Cash and cash equivalents

Registered number: NI697012

Cosysolar Limited

Unaudited

Financial statements

Information for filing with the registrar

For the 6 Month Period Ended 28 February 2025

Cosysolar Limited

Registered number: NI697012

Balance Sheet

As at 28 February 2025

	28 February	31 August
	2025	2024
Note	£	£

Fixed assets
Tangible assets	4		11,370		11,518
			11,370		11,518
Current assets
Stocks		-		6,550
Debtors: amounts falling due within one year	5	70,394		12,865
Cash at bank and in hand	6	5,646		65
		76,040		19,480
Creditors: amounts falling due within one year	7	(222,615)		(83,426)
Net current liabilities			(146,575)		(63,946)
Total assets less current liabilities			(135,205)		(52,428)

Net liabilities			(135,205)		(52,428)

Capital and reserves
Share premium account	100	100
Profit and loss account	(135,305)	(52,528)
	(135,205)	(52,428)

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Cosysolar Limited

Registered number: NI697012

Balance Sheet (continued)

As at 28 February 2025

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the 6 Month Period in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 23 December 2025.

Mr P Polly

Director

The notes on pages 3 to 8 form part of these financial statements.

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Cosysolar Limited

Notes to the Financial Statements

For the 6 Month Period Ended 28 February 2025

1.	General information

Cosysolar Limited is a private company limited by shares incorporated in Northern Ireland. The registration number and address of the registered office are given in the company information section of these financial statements.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies.

The following principal accounting policies have been applied:

2.2

Going concern

The director has reviewed the resources available and believes that the company has adequate resources to continue in operational existence for the foreseeable future.

Accordingly, the financial statements are prepared on the going concern basis.

2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

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Cosysolar Limited

Notes to the Financial Statements

For the 6 Month Period Ended 28 February 2025

2.Accounting policies (continued)

2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

∙the Company has transferred the significant risks and rewards of ownership to the buyer;

∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the transaction; and

∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

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Cosysolar Limited

Notes to the Financial Statements

For the 6 Month Period Ended 28 February 2025

2.Accounting policies (continued)

2.5

Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

				Plant and machinery	-	20%
				Office equipment	-	20%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.6

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

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Cosysolar Limited

Notes to the Financial Statements

For the 6 Month Period Ended 28 February 2025

Employees

The average monthly number of employees, including the director, during the 6 Month Period was as follows:

	28 February	31 August
	2025	2024
	No.	No.

Employees	1	1

4.	Tangible fixed assets

	Plant and machinery	Office equipment	Total
	£	£	£
Cost or valuation
At 1 September 2024	-	12,124	12,124
Additions	1,182	-	1,182
At 28 February 2025	1,182	12,124	13,306
Depreciation
At 1 September 2024	-	606	606
Charge for the 6 Month Period on owned assets	118	1,212	1,330
At 28 February 2025	118	1,818	1,936
Net book value
At 28 February 2025	1,064	10,306	11,370
At 31 August 2024	-	11,518	11,518

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Cosysolar Limited

Notes to the Financial Statements

For the 6 Month Period Ended 28 February 2025

Debtors

					28 February	31 August
					2025	2024
					£	£


Trade debtors	51,827	6,520
Amounts owed by group undertakings	15,508	100
Other debtors	3,059	6,245
	70,394	12,865

Cash at bank and in hand	5,646	65
	5,646	65

Trade creditors	33,190	14,124
Amounts owed to group undertakings	169,417	68,390
Other taxation and social security	2,095	912
Other creditors	2,308	-
Accruals and deferred income	15,605	-
	222,615	83,426

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Cosysolar Limited

Notes to the Financial Statements

For the 6 Month Period Ended 28 February 2025

8.	Related party transactions
	The company has availed of the exemption under FRS 102 in relation to the disclosure of transactions with wholly owned group companies.

9.	Controlling party

Cosy Group Holdings Limited, a Northern Ireland registered company, is the 100% parent company of CosySolar Limited. Mr Philip Polly is the ultimate controlling party of the Company.

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