Cobco 702 Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05534761 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2020

FOR

COBCO 702 LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

R S Norman

REGISTERED OFFICE:

St Paul's House

23 Park Sqaure

Leeds

LS1 2ND

REGISTERED NUMBER:

05534761 (England and Wales)

ACCOUNTANTS:

Sedulo Leeds Limited

St Paul's House

23 Park Square

Leeds

West Yorkshire

LS1 2ND

FIXED ASSETS

Investment property

4

47,000

47,000

CURRENT ASSETS

Cash at bank

94

1,043

CREDITORS

Amounts falling due within one year

5

32,021

33,135

NET CURRENT LIABILITIES

(31,927

)

(32,092

)

TOTAL ASSETS LESS CURRENT LIABILITIES

15,073

14,908

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

15,072

14,907

SHAREHOLDERS' FUNDS

15,073

14,908

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2020 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 23 June 2021 and were signed by:

R S Norman - Director

1.	STATUTORY INFORMATION

Cobco 702 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.

The principal activity during the year was the holding of freehold leases.

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.

The presentation currency of the financial statements is the Pound Sterling, which is the functional currency of the company, rounded to the nearest £1.

In common with virtually every other business in the country, the Company has been experiencing the effects of the Coronavirus pandemic. Whilst the full impact of this exceptional situation on the Company cannot be assessed with complete certainty at the current time, the Directors believe they have taken all possible steps to protect the Company including accessing relevant Government assistance.

At the time of signing these accounts the Directors are of the opinion that the Company will remain viable for the foreseeable future and therefore these Financial Statements have been prepared on the Going Concern basis.

Turnover

Rental income is recognised on an accruals basis in accordance with terms of the lease agreements.

Investment property

Investment property is shown at fair value determined annually. Any aggregate surplus or deficit arising from changes in fair value is recognized in the Income statement

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 (2019 - NIL).

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 October 2019

and 30 September 2020

47,000

NET BOOK VALUE

At 30 September 2020

47,000

At 30 September 2019

47,000

In the opinion of the director the market value of the investment property is not materially different from cost noted above.

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.20

30.9.19

£

£

Taxation and social security

1,192

1,426

Other creditors

30,829

31,709

32,021

33,135

6.	RELATED PARTY DISCLOSURES

At 30 September 2020 the company owed £29,690 (2019 - £30,571) to Abbey Wharfe (Selby) Management Company Limited, a company under common control. The loan is interest free and repayable on demand.