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REGISTERED NUMBER: 07246809 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023

FOR

COGNITECH SOLUTIONS LIMITED

COGNITECH SOLUTIONS LIMITED (REGISTERED NUMBER: 07246809)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 May 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


COGNITECH SOLUTIONS LIMITED

COMPANY INFORMATION
for the Year Ended 31 May 2023







DIRECTORS: Mrs V D Nadimpalli
A Mudunuru





REGISTERED OFFICE: Bank Gallery
High Street
Kenilworth
Warwickshire
CV8 1LY





REGISTERED NUMBER: 07246809 (England and Wales)





ACCOUNTANTS: Bernard Rogers & Co
Bank Gallery
High Street
Kenilworth
Warwickshire
CV8 1LY

COGNITECH SOLUTIONS LIMITED (REGISTERED NUMBER: 07246809)

BALANCE SHEET
31 May 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,960 1,993

CURRENT ASSETS
Debtors 5 34,352 11,253
Cash at bank 129,923 188,176
164,275 199,429
CREDITORS
Amounts falling due within one year 6 37,739 24,080
NET CURRENT ASSETS 126,536 175,349
TOTAL ASSETS LESS CURRENT
LIABILITIES

129,496

177,342

PROVISIONS FOR LIABILITIES 562 379
NET ASSETS 128,934 176,963

CAPITAL AND RESERVES
Called up share capital 10 10
Retained earnings 128,924 176,953
SHAREHOLDERS' FUNDS 128,934 176,963

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 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.

COGNITECH SOLUTIONS LIMITED (REGISTERED NUMBER: 07246809)

BALANCE SHEET - continued
31 May 2023


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 February 2024 and were signed on its behalf by:





A Mudunuru - Director


COGNITECH SOLUTIONS LIMITED (REGISTERED NUMBER: 07246809)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 May 2023


1. STATUTORY INFORMATION

CogniTech Solutions 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.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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
During the year, the company made a pension contribution into a scheme nominated by the directors.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

COGNITECH SOLUTIONS LIMITED (REGISTERED NUMBER: 07246809)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 May 2023


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2022 3,405
Additions 3,108
Disposals (1,411 )
At 31 May 2023 5,102
DEPRECIATION
At 1 June 2022 1,412
Charge for year 1,546
Eliminated on disposal (816 )
At 31 May 2023 2,142
NET BOOK VALUE
At 31 May 2023 2,960
At 31 May 2022 1,993

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 14,664 11,253
Other debtors 19,688 -
34,352 11,253

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security 35,162 20,227
Other creditors 2,577 3,853
37,739 24,080

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year, the company made loans to each of the directors. In respect of Mr A Mudunuru, the maximum overdrawn amount during the year was £10,000 (2022:£Nil) and the balance at the year end was £9,688 (2022:£Nil). This has subsequently been repaid.

In respect of Mrs V Nadimpalli, the maximum overdrawn amount during the year and the balance at the year end was £10,000 (2022:£Nil).This has subsequently been repaid.

8. RELATED PARTY DISCLOSURES

At 31 May 2023 other creditors includes loans made to the company by the directors of £Nil (2022: £312). The loans are interest free and no fixed date for repayment.

COGNITECH SOLUTIONS LIMITED (REGISTERED NUMBER: 07246809)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 May 2023


9. ULTIMATE CONTROLLING PARTY

The company is under the control of Mr A Mudunuru (Director).