Cobalt Sky Limited - Limited company - abbreviated - 11.9

Cobalt Sky Limited - Limited company - abbreviated - 11.9

COBALT SKY LIMITED - Company Information

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REGISTERED NUMBER: 02201006 (England and Wales)















ABBREVIATED ACCOUNTS FOR THE YEAR ENDED 30 NOVEMBER 2015

FOR

COBALT SKY LIMITED

COBALT SKY LIMITED (REGISTERED NUMBER: 02201006)

CONTENTS OF THE ABBREVIATED ACCOUNTS
for the year ended 30 November 2015










Page

Company Information 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 4

Chartered Accountants' Report 7

COBALT SKY LIMITED

COMPANY INFORMATION
for the year ended 30 November 2015







DIRECTORS: Raz Khan
Michael Wooderson
Adrian Scamell
Lee Khan





SECRETARY: Lee Khan





REGISTERED OFFICE: Air Malta House
314-316 Upper Richmond Road
London
SW15 6TU





REGISTERED NUMBER: 02201006 (England and Wales)





ACCOUNTANTS: de Freitas & Co.
Chartered Accountants
39 Berwyn Road
Richmond
Surrey
TW10 5BU
1
COBALT SKY LIMITED (REGISTERED NUMBER: 02201006)

ABBREVIATED BALANCE SHEET
30 November 2015

2015 2014
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 2 667 8,667
Tangible assets 3 3,897 2,617
Investments 4 25 105
4,589 11,389

CURRENT ASSETS
Debtors 386,827 349,800
Cash at bank 190,043 179,324
576,870 529,124
CREDITORS: AMOUNTS FALLING DUE
WITHIN ONE YEAR
258,909
246,250
NET CURRENT ASSETS 317,961 282,874
TOTAL ASSETS LESS CURRENT
LIABILITIES
322,550
294,263

CAPITAL AND RESERVES
Called up share capital 5 50 50
Capital redemption reserve 50 50
Profit and loss account 322,450 294,163
SHAREHOLDERS' FUNDS 322,550 294,263

The notes on pages 4 to 6 form part of these abbreviated accounts

2
COBALT SKY LIMITED (REGISTERED NUMBER: 02201006)

ABBREVIATED BALANCE SHEET - continued
30 November 2015


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2015 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.


The financial statements were approved by the Board of Directors on 11 May 2016 and were signed on its
behalf by:





Raz Khan - Director


The notes on pages 4 to 6 form part of these abbreviated accounts

3
COBALT SKY LIMITED (REGISTERED NUMBER: 02201006)

NOTES TO THE ABBREVIATED ACCOUNTS
for the year ended 30 November 2015


1. ACCOUNTING POLICIES

Accounting convention
The financial statements have been prepared under the historical cost convention and in accordance
with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover
Turnover represents sales to outside customers at invoiced amounts less value added tax.

Goodwill
Goodwill represents the excess of the cost of acquisition over the fair value of the separable net
assets of businesses acquired.

The goodwill on the acquisition of a business on 31 December 2010 is amortised through the profit
and loss account in equal instalments over its estimated useful life of 5 years

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Short leasehold - over the unexpired term of the lease
Motor vehicles - 25% on cost
Computer equipment - 25% - 33% on cost

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at
the balance sheet date.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at
the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of
exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at
the operating result.

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 the profit and loss account in the period to which they
relate.

Investments
Investments held as fixed assets are stated at cost less provision for any permanent diminution in
value.

Operating leases
Rentals payable under operating leases are charged to the profit and loss account on a straight line
basis over the term of the lease.

Going concern
The company has considerable financial resources together with established business relationships
with a number of customers across different geographic areas and industries. As a consequence the
directors believe that the company is well placed to manage its business risks successfully.

The directors have a reasonable expectation that the company has adequate resources to continue in
operational existence for the foreseeable future. Thus they continue to adopt the going concern basis
of accounting in preparing the annual financial statements.

4
COBALT SKY LIMITED (REGISTERED NUMBER: 02201006)

NOTES TO THE ABBREVIATED ACCOUNTS - continued
for the year ended 30 November 2015


2. INTANGIBLE FIXED ASSETS
Total
£   
COST
At 1 December 2014
and 30 November 2015 40,000
AMORTISATION
At 1 December 2014 31,333
Amortisation for year 8,000
At 30 November 2015 39,333
NET BOOK VALUE

At 30 November 2015 667
At 30 November 2014 8,667

Goodwill on the acquisition of a business on 31 December 2010 is being amortised over 5 years. In
the opinion of the directors this represents a prudent estimate of the period over which the group will
derive economic benefits.

3. TANGIBLE FIXED ASSETS
Total
£   
COST
At 1 December 2014 142,791
Additions 4,170
At 30 November 2015 146,961
DEPRECIATION
At 1 December 2014 140,174
Charge for year 2,890
At 30 November 2015 143,064
NET BOOK VALUE
At 30 November 2015 3,897
At 30 November 2014 2,617

5
COBALT SKY LIMITED (REGISTERED NUMBER: 02201006)

NOTES TO THE ABBREVIATED ACCOUNTS - continued
for the year ended 30 November 2015


4. FIXED ASSET INVESTMENTS
Investments
other
than
loans
£   
COST
At 1 December 2014 105
Disposals (80 )
At 30 November 2015 25
NET BOOK VALUE
At 30 November 2015 25
At 30 November 2014 105

5. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2015 2014
value: £    £   
50 Ordinary shares £1 50 50

6
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
COBALT SKY LIMITED


The following reproduces the text of the report prepared for the directors in respect of the company's
annual unaudited financial statements, from which the unaudited abbreviated accounts (set out on
pages two to six) have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval
the financial statements of Cobalt Sky Limited for the year ended 30 November 2015 which comprise the
Profit and Loss Account, the 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 at icaew.com/membershandbook.

This report is made solely to the Board of Directors of Cobalt Sky 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 Cobalt Sky Limited and state those matters that we have agreed to state to the Board of Directors of Cobalt Sky Limited, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Cobalt Sky 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 Cobalt Sky Limited. You consider that Cobalt Sky 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 Cobalt Sky
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.






de Freitas & Co.
Chartered Accountants
39 Berwyn Road
Richmond
Surrey
TW10 5BU


11 May 2016

This page does not form part of the abbreviated accounts

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