REGISTERED NUMBER: |
AUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2023 |
FOR |
COGNOSIS LIMITED |
REGISTERED NUMBER: |
AUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2023 |
FOR |
COGNOSIS LIMITED |
COGNOSIS LIMITED (REGISTERED NUMBER: 03576274) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
COGNOSIS LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30 JUNE 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
BUSINESS ADDRESS: |
REGISTERED NUMBER: |
AUDITORS: |
Statutory Auditors |
Chartered Accountants |
4th Floor Tuition House |
27-37 St George's Road |
Wimbledon |
London |
SW19 4EU |
COGNOSIS LIMITED (REGISTERED NUMBER: 03576274) |
BALANCE SHEET |
30 JUNE 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Share premium |
Capital redemption reserve |
Retained earnings |
SHAREHOLDERS' FUNDS |
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 |
COGNOSIS LIMITED (REGISTERED NUMBER: 03576274) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2023 |
1. | STATUTORY INFORMATION |
Cognosis Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Significant judgements and estimates |
The directors have made a number of estimates and assumptions regarding the future, and made some significant judgements in applying the accounting policies. These are shown below: |
(i) Accrued income |
The directors use their judgement in estimating amounts of work done at the balance sheet date but not invoiced. |
(ii) Deferred income |
The directors use their judgement in estimating amounts invoiced at the balance sheet date in respect of work to be undertaken in future accounting periods. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Revenue from services is recognised when the service is provided and the right to consideration earned. To the extent that a service is provided to third parties but no billing made, the amount is recognised as revenue and recorded as accrued income. Billings made in advance of services being provided are recognised as deferred income. |
Tangible fixed assets |
Plant and machinery etc | - |
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. |
COGNOSIS LIMITED (REGISTERED NUMBER: 03576274) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2023 |
2. | ACCOUNTING POLICIES - continued |
Foreign currencies |
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account. |
Hire purchase and leasing commitments |
Rentals payable under operating leases are charged against income on a straight line basis over the lease term. |
Pension costs and other post-retirement benefits |
The pension costs charged in the financial statements represent the contributions payable by the company during the year.These contributions are invested separately from the company's assets. |
Basic financial instruments |
Cash in hand is measured at transaction price. |
Debtors: Trade and other debtors. Trade debtors are amounts due from customers for services performed in the ordinary course of business less any impairment provision. These are recognised as current assets as collection is due within one year or less. |
Creditors: amounts falling due within one year are measured at transaction price. Trade Creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business. These are classified as current liabilities as payment is due in one year or less. |
Impairment |
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease. |
Dividends |
Dividends are recognised in the company's financial statements in the year in which they are approved in general meetings by the company's shareholders. Interim dividends are recognised when they are paid. |
Share capital |
Ordinary shares are classified as equity. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
COGNOSIS LIMITED (REGISTERED NUMBER: 03576274) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2023 |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 July 2022 |
Additions |
At 30 June 2023 |
DEPRECIATION |
At 1 July 2022 |
Charge for year |
At 30 June 2023 |
NET BOOK VALUE |
At 30 June 2023 |
At 30 June 2022 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
7. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2023 | 2022 |
£ | £ |
Within one year |
Between one and five years |
8. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
COGNOSIS LIMITED (REGISTERED NUMBER: 03576274) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2023 |
9. | ULTIMATE CONTROLLING PARTY |
At the year end the company was controlled by a director, John Hosking. |