Company Registration No. 11601338 (England and Wales)
COSMELINKS LTD
Unaudited accounts
for the year ended 31 March 2023
COSMELINKS LTD
Unaudited accounts
Contents
COSMELINKS LTD
Company Information
for the year ended 31 March 2023
Company Number
11601338 (England and Wales)
Registered Office
24 Hill View Road
Chelmsford
CM1 7RX
United Kingdom
COSMELINKS LTD
Statement of financial position
as at 31 March 2023
Cash at bank and in hand
2,571
6,146
Creditors: amounts falling due within one year
(2,511)
(6,248)
Total assets less current liabilities
553
989
Provisions for liabilities
Called up share capital
1
1
Profit and loss account
459
801
Shareholders' funds
460
802
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 6 August 2023 and were signed on its behalf by
Ms Yun Zuo
Director
Company Registration No. 11601338
COSMELINKS LTD
Notes to the Accounts
for the year ended 31 March 2023
COSMELINKS LTD is a private company, limited by shares, registered in England and Wales, registration number 11601338. The registered office is 24 Hill View Road, Chelmsford, CM1 7RX, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
These financial statements have been prepared on the going concern basis, under the historical cost convention as modified by the revaluation of certain fixed assets and in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 (FRS102) "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are prepared in sterling , which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.
At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.
Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business , and is shown net of VAT and other sales related taxes . The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered .
Tangible fixed assets and depreciation
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Computers 25% Straight Line
COSMELINKS LTD
Notes to the Accounts
for the year ended 31 March 2023
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
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Tangible fixed assets
Computer equipment
Amounts falling due within one year
Accrued income and prepayments
-
105
6
Creditors: amounts falling due within one year
2023
2022
Taxes and social security
(2,406)
2,419
Loans from directors
4,917
1,998
COSMELINKS LTD
Notes to the Accounts
for the year ended 31 March 2023
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Transactions with related parties
The company was under the control of the director Ms Yun Zuo throughout the current and previous periods. As at 31/03/2023, the amount owed to Ms Yun Zuo was £4,917 (2022: £1,998). The loans are repayable on demand.
During the year, total dividends of £nil (2022: £12,000) were paid to director Ms Yun Zuo.
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Average number of employees
During the year the average number of employees was 1 (2022: 1).