1 January 2021 false No description of principal activity Taxfiler 2022.8.3 11124276business:PrivateLimitedCompanyLtd2021-01-012021-12-31 111242762020-12-31 111242762021-01-012021-12-31 11124276business:AuditExemptWithAccountantsReport2021-01-012021-12-31 11124276business:FullAccounts2021-01-012021-12-31 111242762021-12-31 11124276business:Director12021-01-012021-12-31 11124276business:Director22021-01-012021-12-31 11124276business:Director32021-01-012021-12-31 11124276business:RegisteredOffice2021-01-012021-12-31 111242762020-12-31 11124276core:WithinOneYear2021-12-31 11124276core:WithinOneYear2020-12-31 11124276core:AfterOneYear2021-12-31 11124276core:AfterOneYear2020-12-31 11124276core:ShareCapital2021-12-31 11124276core:ShareCapital2020-12-31 11124276core:SharePremium2021-12-31 11124276core:SharePremium2020-12-31 11124276core:RetainedEarningsAccumulatedLosses2021-12-31 11124276core:RetainedEarningsAccumulatedLosses2020-12-31 11124276business:SmallEntities2021-01-012021-12-31 11124276countries:EnglandWales2021-01-012021-12-31 11124276core:AfterOneYear2021-01-012021-12-31 111242762020-01-012020-12-31 iso4217:GBP xbrli:pure
Company Registration No. 11124276 (England and Wales)
Cognitive Credit Limited Unaudited accounts for the year ended 31 December 2021
Cognitive Credit Limited Unaudited accounts Contents
Page
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Cognitive Credit Limited Company Information for the year ended 31 December 2021
Directors
Robert Slater Marc Frans Julia Moens Shea Zane Wallon
Company Number
11124276 (England and Wales)
Registered Office
46 Marville Road London SW6 7BD
Accountants
Charterwells The Georgian House 189 Stanmore Hill Stanmore HA7 3HD
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Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Cognitive Credit Limited for the year ended 31 December 2021
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Cognitive Credit Limited for the year ended 31 December 2021 as set out on pages 5 - 7 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 Cognitive Credit Limited, as a body, in accordance with the terms of our engagement letter dated 10 March 2019. Our work has been undertaken solely to prepare for your approval the accounts of Cognitive Credit Limited and state those matters that we have agreed to state to the Board of Directors of Cognitive Credit Limited, as a body, in this report in accordance with AAF 07/16 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Cognitive Credit Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Cognitive Credit Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Cognitive Credit Limited. You consider that Cognitive Credit 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 accounts of Cognitive Credit 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 accounts.
Charterwells Chartered Accountants The Georgian House 189 Stanmore Hill Stanmore HA7 3HD 11 March 2022
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Cognitive Credit Limited Statement of financial position as at 31 December 2021
2021 
2020 
Notes
£ 
£ 
Current assets
Debtors
538,831 
344,481 
Cash at bank and in hand
5,315,601 
768,560 
5,854,432 
1,113,041 
Creditors: amounts falling due within one year
(380,180)
(57,861)
Net current assets
5,474,252 
1,055,180 
Total assets less current liabilities
5,474,252 
1,055,180 
Creditors: amounts falling due after more than one year
- 
(1,041,644)
Net assets
5,474,252 
13,536 
Capital and reserves
Called up share capital
1,976 
1,273 
Share premium
9,444,561 
2,401,656 
Profit and loss account
(3,972,285)
(2,389,393)
Shareholders' funds
5,474,252 
13,536 
For the year ending 31 December 2021 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 directors acknowledge their 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 of Directors and authorised for issue on 11 March 2021 and were signed on its behalf by
Robert Slater Director Company Registration No. 11124276
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Cognitive Credit Limited Notes to the Accounts for the year ended 31 December 2021
1
Statutory information
Cognitive Credit Limited is a private company, limited by shares, registered in England and Wales, registration number 11124276. The registered office is 46 Marville Road, London, SW6 7BD.
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention.
Presentation currency
The accounts are presented in £ sterling.
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. The assets of the scheme are held separately from those of the company in independently administered funds. The pension costs charge represents contributions payable for the period by the company to the fund.
4
Debtors: amounts falling due within one year
2021 
2020 
£ 
£ 
Trade debtors
107,000 
26,400 
Other debtors
431,831 
318,081 
538,831 
344,481 
5
Creditors: amounts falling due within one year
2021 
2020 
£ 
£ 
VAT
29,540 
- 
Trade creditors
11,550 
- 
Taxes and social security
74,189 
53,838 
Other creditors
4,661 
2,723 
Accruals
1,365 
1,300 
Deferred income
258,875 
- 
380,180 
57,861 
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Cognitive Credit Limited Notes to the Accounts for the year ended 31 December 2021
6
Creditors: amounts falling due after more than one year
2021 
2020 
£ 
£ 
Other creditors
- 
1,041,644 
During the year the convertible loan, issued in the prior year, has been converted into shares. The interest rate on the loan is 8% (non-compounding) and has been applied up to the conversion date.
7
Average number of employees
During the year the average number of employees was 20 (2020: 16).
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