Cogniscience Limited 03983185 false 2022-08-01 2023-07-31 2023-07-31 The principal activity of the company is the development of research work with a view to commercial implementation. Digita Accounts Production Advanced 6.30.9574.0 true 03983185 2022-08-01 2023-07-31 03983185 2023-07-31 03983185 bus:OrdinaryShareClass1 2023-07-31 03983185 bus:OrdinaryShareClass2 2023-07-31 03983185 core:OtherReservesSubtotal 2023-07-31 03983185 core:RetainedEarningsAccumulatedLosses 2023-07-31 03983185 core:ShareCapital 2023-07-31 03983185 core:SharePremium 2023-07-31 03983185 core:CurrentFinancialInstruments 2023-07-31 03983185 core:CurrentFinancialInstruments core:WithinOneYear 2023-07-31 03983185 core:Non-currentFinancialInstruments core:AfterOneYear 2023-07-31 03983185 core:PatentsTrademarksLicencesConcessionsSimilar 2023-07-31 03983185 bus:SmallEntities 2022-08-01 2023-07-31 03983185 bus:AuditExemptWithAccountantsReport 2022-08-01 2023-07-31 03983185 bus:FullAccounts 2022-08-01 2023-07-31 03983185 bus:SmallCompaniesRegimeForAccounts 2022-08-01 2023-07-31 03983185 bus:RegisteredOffice 2022-08-01 2023-07-31 03983185 bus:Director2 2022-08-01 2023-07-31 03983185 bus:Director3 2022-08-01 2023-07-31 03983185 bus:OrdinaryShareClass1 2022-08-01 2023-07-31 03983185 bus:OrdinaryShareClass2 2022-08-01 2023-07-31 03983185 bus:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 03983185 bus:Agent1 2022-08-01 2023-07-31 03983185 core:PatentsTrademarksLicencesConcessionsSimilar 2022-08-01 2023-07-31 03983185 countries:EnglandWales 2022-08-01 2023-07-31 03983185 2022-07-31 03983185 core:PatentsTrademarksLicencesConcessionsSimilar 2022-07-31 03983185 2021-08-01 2022-07-31 03983185 2022-07-31 03983185 bus:OrdinaryShareClass1 2022-07-31 03983185 bus:OrdinaryShareClass2 2022-07-31 03983185 core:OtherReservesSubtotal 2022-07-31 03983185 core:RetainedEarningsAccumulatedLosses 2022-07-31 03983185 core:ShareCapital 2022-07-31 03983185 core:SharePremium 2022-07-31 03983185 core:CurrentFinancialInstruments 2022-07-31 03983185 core:CurrentFinancialInstruments core:WithinOneYear 2022-07-31 03983185 core:Non-currentFinancialInstruments core:AfterOneYear 2022-07-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 03983185

Cogniscience Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 July 2023

 

Cogniscience Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

Cogniscience Limited

Company Information

Directors

Professor S B Furber

R M Young

Registered office

11 Riverview
The Embankment Business Park
Vale Road
Heaton Mersey
Stockport
SK4 3GN

Bankers

The Co-operative Bank PLC
1 Balloon Street
Manchester
M60 4EP

Accountants

McKellens Limited
Chartered Accountants
11 Riverview
The Embankment Business Park
Vale Road
Heaton Mersey
Stockport
SK4 3GN

 

Cogniscience Limited

(Registration number: 03983185)
Balance Sheet as at 31 July 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

4

-

-

Current assets

 

Debtors

5

280

3,881

Cash at bank and in hand

 

118,943

108,419

 

119,223

112,300

Creditors: Amounts falling due within one year

6

(15,949)

(36,905)

Net current assets

 

103,274

75,395

Total assets less current liabilities

 

103,274

75,395

Creditors: Amounts falling due after more than one year

6

(26,667)

-

Net assets

 

76,607

75,395

capital and reserves

 

Called up share capital

7

3,449

3,449

Share premium

8,810

8,810

Other reserves

531,533

531,533

Profit and loss account

(467,185)

(468,397)

Total equity

 

76,607

75,395

For the financial year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 4 December 2023 and signed on its behalf by:
 

.........................................
Professor S B Furber
Director

   
     
 

Cogniscience Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
11 Riverview
The Embankment Business Park
Vale Road
Heaton Mersey
Stockport
SK4 3GN

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable in respect of royalties. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

IP Rights

Fully written off in year of acquisition

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

 

Cogniscience Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2022 - 0).

4

Intangible assets

Intellectual Property Rights
 £

Total
£

Cost or valuation

At 1 August 2022

28,480

28,480

At 31 July 2023

28,480

28,480

Amortisation

At 1 August 2022

28,480

28,480

At 31 July 2023

28,480

28,480

Carrying amount

At 31 July 2023

-

-

 

Cogniscience Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2023

5

Debtors

2023
£

2022
£

Trade debtors

-

3,600

Other debtors

280

281

280

3,881

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

1,768

-

Taxation and social security

11,686

600

Accruals and deferred income

2,495

36,305

15,949

36,905

Creditors: amounts falling due after more than one year

2023
£

2022
£

Due after one year

Deferred income

26,667

-

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

A Ordinary shares of £0.01 each

182,535

1,825.35

182,535

1,825.35

B Preferred ordinary shares of £0.01 each

162,348

1,623.48

162,348

1,623.48

 

344,883

3,448.83

344,883

3,448.83