COSOURCED LIMITED


Directors	Paul Blackford
	Sean David Fosten


Company Secretary	Nicola Blackford


Registered Address	Robert Denholm House Bletchingley Road
	Nutfield
	Redhill
	RH1 4HW


Registered Number	10790332 (England and Wales)

Notes to the Financial Statements
for the year ended 31 May 2025

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Functional and presentation currency
	The financial statements are presented in sterling and this is the functional currency of the company.

	Turnover policy
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.

	Employee benefits
	Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.

Employee benefits

Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.

	Current taxation
	Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.

Current taxation

Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income.

Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.

	Deferred tax
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Tangible fixed assets and depreciation
	All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Tangible fixed assets and depreciation

All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:


		Straight line (years)
	Plant and machinery	2
	Fixtures and fittings	4
	Vehicles	5
	Office Equipment	3

	Finance leases and hire purchase contracts
	Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.

	Stocks and work in progress
	Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.

Stocks and work in progress

Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss.

Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.

2.	Average number of employees


		2025		2024
	Average number of employees during the year	45		45

3.	Tangible fixed assets

	Plant & machinery	Vehicles	Fixtures & fittings	Office Equipment	Total
	£	£	£	£	£
Cost or valuation
At 01 June 24	28,304	239,058	1,691	21,138	290,191
Additions	-	155,572	-	10,247	165,819
Disposals	-	(90,040)	(1,691)	-	(91,731)
At 31 May 25	28,304	304,590	-	31,385	364,279
Depreciation and impairment
At 01 June 24	26,249	37,635	930	7,994	72,808
Charge for year	1,593	43,336	-	9,519	54,448
On disposals	-	(9,741)	(930)	-	(10,671)
At 31 May 25	27,842	71,230	-	17,513	116,585
Net book value
At 31 May 25	462	233,360	-	13,872	247,694
At 31 May 24	2,055	201,423	761	13,144	217,383

4.	Stocks

	2025	2024
	£	£
Work in progress	35,252	-
Total	35,252	-

5.	Debtors: amounts due within one year

	2025	2024
	£	£
Trade debtors / trade receivables	1,100,761	1,059,040
Amounts owed by group undertakings	320,568	386,856
Other debtors	12,279	23,209
Prepayments and accrued income	59,525	114,261
Total	1,493,133	1,583,366

6.	Creditors: amounts due within one year

	2025	2024
	£	£
Trade creditors / trade payables	408,865	226,178
Bank borrowings and overdrafts	40,000	255,434
Amounts owed to related parties	266,628	291,836
Taxation and social security	352,977	449,541
Finance lease and HP contracts	43,146	26,313
Other creditors	67,697	14,600
Accrued liabilities and deferred income	504,247	95,479
Total	1,683,560	1,359,381

7.	Creditors: amounts due after one year

	2025	2024
	£	£
Bank borrowings and overdrafts	13,333	53,333
Other creditors	479,363	100,979
Total	492,696	154,312

8.	Secured creditors
	As at the balance sheet date, included in other creditors due within one year is £60,153 (2024: £nil), and £299,847 (2024: £nil), due in more than one year to the CoSourced Pension Scheme. The loan is secured by fixed a floating charge of the assets of Cosourced Group Limited. As at the balance sheet date, included in other creditors due within one year is £43,146 (2024: £26,313), and £179,516 (£2024: £100,979), due in more than one year are in relation to finance leases. The amounts are secured against the asset to which they relate.

Secured creditors

As at the balance sheet date, included in other creditors due within one year is £60,153 (2024: £nil), and £299,847 (2024: £nil), due in more than one year to the CoSourced Pension Scheme. The loan is secured by fixed a floating charge of the assets of Cosourced Group Limited.

As at the balance sheet date, included in other creditors due within one year is £43,146 (2024: £26,313), and £179,516 (£2024: £100,979), due in more than one year are in relation to finance leases. The amounts are secured against the asset to which they relate.

9.	Obligations under finance leases

		2025		2024
		£		£
	Finance lease and HP contracts	222,662		127,292

10.	Provisions for liabilities

	2025	2024
	£	£
Net deferred tax liability (asset)	49,085	40,715
Total	49,085	40,715

11.	Related party transactions
	As at the balance sheet date, included in creditor due within one year is £266,628 (2024 : £291,836) payable to Ruma Investments Ltd. As at the balance sheet date, included in debtor due within one year £54,165 (2024: £42,878) due from Accurate Cooling Services Ltd, and £266,403 (2024: £343,947) due from Cosourced Group Limited. The companies are under common control by the director.

	Notes	2025		2024
		£	£	£	£
Fixed assets
Tangible assets	3		247,694		217,383
			247,694		217,383
Current assets
Stocks	4	35,252		-
Debtors	5	1,629,474		1,785,198
Cash at bank and on hand		964,265		4,948
		2,628,991		1,790,146
Creditors amounts falling due within one year	6	(1,683,560)		(1,359,381)
Net current assets (liabilities)			945,431		430,765
Total assets less current liabilities			1,193,125		648,148
Creditors amounts falling due after one year	7		(492,696)		(154,312)
Provisions for liabilities	10		(49,085)		(40,715)
Net assets			651,344		453,121
Capital and reserves
Called up share capital			1,006		1,006
Profit and loss account			650,338		452,115
Shareholders' funds			651,344		453,121