Sam Cox Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 10572304 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 January 2024

for

SAM COX LIMITED

T/A

MR DOODLE

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

9

DIRECTORS:

Mr S Cox

Mr N D Cox

Ms O Kutsenko

REGISTERED OFFICE:

Unit 10 Pickhill Business Centre

Smallhythe Road

Tenterden

Kent

TN30 7LZ

REGISTERED NUMBER:

10572304 (England and Wales)

ACCOUNTANTS:

MMP Accounting Solutions Ltd

Unit 34 Basepoint

Shearway Business Park

Folkestone

Kent

CT19 4RH

FIXED ASSETS

Intangible assets

4

100,000

194,833

Tangible assets

5

2,198,929

269,805

Investments

6

1,285,207

2,178,458

3,584,136

2,643,096

CURRENT ASSETS

Debtors

7

120,034

303,356

Cash at bank and in hand

295,221

586,732

415,255

890,088

CREDITORS

Amounts falling due within one year

8

476,877

42,671

NET CURRENT (LIABILITIES)/ASSETS

(61,622

)

847,417

TOTAL ASSETS LESS CURRENT LIABILITIES

3,522,514

3,490,513

PROVISIONS FOR LIABILITIES

16,746

19,844

NET ASSETS

3,505,768

3,470,669

CAPITAL AND RESERVES

Called up share capital

9

100

1

Retained earnings

10

3,505,668

3,470,668

SHAREHOLDERS' FUNDS

3,505,768

3,470,669

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 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 29 May 2024 and were signed on its behalf by:

Mr S Cox - Director

1.	STATUTORY INFORMATION

Sam Cox 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 presentation currency of the financial statements is the Pound Sterling (£).

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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2017, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Trademarks are being amortised evenly over their estimated useful life of ten years.

Cryptocurrency are not being amortised.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

in accordance with the property

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

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 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 9 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

Cryptocurrency

Totals

£

£

£

COST OR VALUATION

At 1 February 2023

500,000

44,833

544,833

Disposals

-

(44,833

)

(44,833

)

At 31 January 2024

500,000

-

500,000

AMORTISATION

At 1 February 2023

350,000

-

350,000

Amortisation for year

50,000

-

50,000

At 31 January 2024

400,000

-

400,000

NET BOOK VALUE

At 31 January 2024

100,000

-

100,000

At 31 January 2023

150,000

44,833

194,833

Cost or valuation at 31 January 2024 is represented by:

Goodwill

£

Valuation in 2017

500,000

5.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

property

machinery

fittings

£

£

£

COST

At 1 February 2023

170,476

3,114

3,688

Additions

1,785,206

-

273,862

At 31 January 2024

1,955,682

3,114

277,550

DEPRECIATION

At 1 February 2023

5,114

778

1,201

Charge for year

29,244

584

69,087

At 31 January 2024

34,358

1,362

70,288

NET BOOK VALUE

At 31 January 2024

1,921,324

1,752

207,262

At 31 January 2023

165,362

2,336

2,487

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 February 2023

118,864

55,377

351,519

Additions

-

8,731

2,067,799

At 31 January 2024

118,864

64,108

2,419,318

DEPRECIATION

At 1 February 2023

39,649

34,972

81,714

Charge for year

19,804

19,956

138,675

At 31 January 2024

59,453

54,928

220,389

NET BOOK VALUE

At 31 January 2024

59,411

9,180

2,198,929

At 31 January 2023

79,215

20,405

269,805

6.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 February 2023

2,178,458

Additions

1

Share of profit/(loss)

9,107

Impairments

(2,259

)

Reclassification/transfer

(900,100

)

At 31 January 2024

1,285,207

NET BOOK VALUE

At 31 January 2024

1,285,207

At 31 January 2023

2,178,458

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.24

31.1.23

£

£

Tax

-

250,729

VAT

99,125

29,929

Prepayments

20,909

22,698

120,034

303,356

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.1.24

31.1.23

£

£

Trade creditors

25,545

14,471

Tax

418,265

-

Social security and other taxes

7,926

7,011

Other creditors

19,861

17,363

Directors' current accounts

100

174

Accrued expenses

5,180

3,652

476,877

42,671

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.1.24

31.1.23

value:

£

£

1

Ordinary

£1

100

1

10.

RESERVES

Retained

earnings

£

At 1 February 2023

3,470,668

Profit for the year

1,495,590

Dividends

(1,460,590

)

At 31 January 2024

3,505,668

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Sam Cox Limited for the year ended 31 January 2024 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Sam Cox Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Sam Cox Limited and state those matters that we have agreed to state to the Board of Directors of Sam Cox Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Sam Cox Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Sam Cox Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Sam Cox Limited. You consider that Sam Cox Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Sam Cox Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

MMP Accounting Solutions Ltd

Unit 34 Basepoint

Shearway Business Park

Folkestone

Kent

CT19 4RH

29 May 2024