Silverfin false 31/03/2023 01/04/2022 31/03/2023 J E Lewis 16/03/2000 F Lewis 16/03/2000 28 September 2023 The principal activity of the company is computer consultancy. 03949074 2023-03-31 03949074 bus:Director1 2023-03-31 03949074 bus:Director2 2023-03-31 03949074 2022-03-31 03949074 core:CurrentFinancialInstruments 2023-03-31 03949074 core:CurrentFinancialInstruments 2022-03-31 03949074 core:ShareCapital 2023-03-31 03949074 core:ShareCapital 2022-03-31 03949074 core:RetainedEarningsAccumulatedLosses 2023-03-31 03949074 core:RetainedEarningsAccumulatedLosses 2022-03-31 03949074 core:OtherPropertyPlantEquipment 2022-03-31 03949074 core:OtherPropertyPlantEquipment 2023-03-31 03949074 bus:OrdinaryShareClass1 2023-03-31 03949074 2022-04-01 2023-03-31 03949074 bus:FullAccounts 2022-04-01 2023-03-31 03949074 bus:SmallEntities 2022-04-01 2023-03-31 03949074 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 03949074 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 03949074 bus:Director1 2022-04-01 2023-03-31 03949074 bus:Director2 2022-04-01 2023-03-31 03949074 core:OtherPropertyPlantEquipment 2022-04-01 2023-03-31 03949074 2021-04-01 2022-03-31 03949074 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 03949074 bus:OrdinaryShareClass1 2021-04-01 2022-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 03949074 (England and Wales)

CORTEX (SOUTH WEST) LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2023
Pages for filing with the registrar

CORTEX (SOUTH WEST) LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2023

Contents

CORTEX (SOUTH WEST) LIMITED

COMPANY INFORMATION

For the financial year ended 31 March 2023
CORTEX (SOUTH WEST) LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 March 2023
DIRECTORS J E Lewis
F Lewis
SECRETARY F Lewis
REGISTERED OFFICE Lowin House
Tregolls Road
Truro
TR1 2NA
United Kingdom
COMPANY NUMBER 03949074 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Lowin House
Tregolls Road
Truro
Cornwall TR1 2NA
CORTEX (SOUTH WEST) LIMITED

BALANCE SHEET

As at 31 March 2023
CORTEX (SOUTH WEST) LIMITED

BALANCE SHEET (continued)

As at 31 March 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 897 1,251
897 1,251
Current assets
Stocks 4 0 7,000
Debtors 5 30,080 37,032
Cash at bank and in hand 155,513 200,769
185,593 244,801
Creditors: amounts falling due within one year 6 ( 28,566) ( 61,290)
Net current assets 157,027 183,511
Total assets less current liabilities 157,924 184,762
Provision for liabilities ( 225) ( 313)
Net assets 157,699 184,449
Capital and reserves
Called-up share capital 7 1,000 1,000
Profit and loss account 156,699 183,449
Total shareholders' funds 157,699 184,449

For the financial 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.

Directors' responsibilities:

The financial statements of Cortex (South West) Limited (registered number: 03949074) were approved and authorised for issue by the Board of Directors on 28 September 2023. They were signed on its behalf by:

F Lewis
Director
CORTEX (SOUTH WEST) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
CORTEX (SOUTH WEST) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Cortex (South West) Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Lowin House, Tregolls Road, Truro, TR1 2NA, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Revenue from the provision of consultancy services is recognised as they are delivered.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Plant and machinery etc. 15 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Stocks

Work in progress is stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 April 2022 17,105 17,105
At 31 March 2023 17,105 17,105
Accumulated depreciation
At 01 April 2022 15,854 15,854
Charge for the financial year 354 354
At 31 March 2023 16,208 16,208
Net book value
At 31 March 2023 897 897
At 31 March 2022 1,251 1,251

4. Stocks

2023 2022
£ £
Work in progress 0 7,000

5. Debtors

2023 2022
£ £
Trade debtors 30,080 37,006
Other debtors 0 26
30,080 37,032

6. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 6,700 24,924
Taxation and social security 11,117 16,669
Other creditors 10,749 19,697
28,566 61,290

7. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
1,000 A ordinary shares of £ 1.00 each 1,000 1,000