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REGISTERED NUMBER: 04656851 (England and Wales)










Unaudited Financial Statements

For The Year Ended 31 July 2023

for

Cogent Developments Limited

Cogent Developments Limited (Registered number: 04656851)






Contents of the Financial Statements
For The Year Ended 31 July 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Cogent Developments Limited

Company Information
For The Year Ended 31 July 2023







DIRECTORS: J D Brennan
D J Brennan
C A E Brennan
L E Pearce





SECRETARY: D J Brennan





REGISTERED OFFICE: The Grange
Church Lane
Churcham
Gloucester
Gloucestershire
GL2 8AF





REGISTERED NUMBER: 04656851 (England and Wales)





ACCOUNTANTS: Kingscott Dix Limited
Chartered Accountants
Goodridge Court
Goodridge Avenue
Gloucester
Gloucestershire
GL2 5EN

Cogent Developments Limited (Registered number: 04656851)

Abridged Balance Sheet
31 July 2023

31.7.23 31.7.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 45,891 63,851
Investment property 5 3,336,632 3,336,632
3,382,523 3,400,483

CURRENT ASSETS
Debtors 24,789 7,556
Cash at bank and in hand 28,917 99,510
53,706 107,066
CREDITORS
Amounts falling due within one year 64,545 107,255
NET CURRENT LIABILITIES (10,839 ) (189 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,371,684

3,400,294

CREDITORS
Amounts falling due after more than one
year

(1,121,339

)

(1,120,117

)

PROVISIONS FOR LIABILITIES (216,475 ) (219,887 )
NET ASSETS 2,033,870 2,060,290

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Non-distributable reserves 7 1,255,258 1,255,258
Retained earnings 777,612 804,032
SHAREHOLDERS' FUNDS 2,033,870 2,060,290

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

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

Cogent Developments Limited (Registered number: 04656851)

Abridged Balance Sheet - continued
31 July 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 July 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 3 April 2024 and were signed on its behalf by:





D J Brennan - Director


Cogent Developments Limited (Registered number: 04656851)

Notes to the Financial Statements
For The Year Ended 31 July 2023

1. STATUTORY INFORMATION

Cogent Developments 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents rental income from the Company's portfolio of investment properties, recharged utility and related costs, arising from operating leases, excluding VAT. The Company recognises such revenue on a straight line accruals basis.

Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery- 25% on cost
Fixtures and fittings- 25% on cost
Computer equipment- 33% on cost
Motor vehicles- 25% reducing balance

Investment property
Investment property is shown at the most recent valuaton. Any aggregate surplus or deficit arising from changes in fair value are recognised in the profit and loss account. Accumulated gains are transferred to a non-distributable reserve account.

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets and liabilities
Basic financial assets, which include trade and other debtors and cash and bank balances, are measured at transaction price including transaction costs.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. The impairment loss is recognised in profit or loss.

Basic financial liabilities, including trade and other creditors are recognised at transaction price.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year. If not, they are presented as creditors falling due after more than one year.

Financial liabilities are derecognised when, and only when, the company's obligations are discharged, cancelled, or they expire.

Cogent Developments Limited (Registered number: 04656851)

Notes to the Financial Statements - continued
For The Year Ended 31 July 2023

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 August 2022
and 31 July 2023 142,073
DEPRECIATION
At 1 August 2022 78,222
Charge for year 17,960
At 31 July 2023 96,182
NET BOOK VALUE
At 31 July 2023 45,891
At 31 July 2022 63,851

5. INVESTMENT PROPERTY
Total
£   
COST OR VALUATION
At 1 August 2022
and 31 July 2023 3,336,632
NET BOOK VALUE
At 31 July 2023 3,336,632
At 31 July 2022 3,336,632

Cogent Developments Limited (Registered number: 04656851)

Notes to the Financial Statements - continued
For The Year Ended 31 July 2023

5. INVESTMENT PROPERTY - continued

Cost or valuation at 31 July 2023 is represented by:
£   
Valuation in 2005 195,138
Valuation in 2012 172,630
Valuation in 2016 56,255
Valuation in 2019 265,000
Valuation in 2021 773,991
Cost 1,873,618
3,336,632

If Freehold Properties had not been revalued they would have been included at the following historical cost:

31.7.23 31.7.22
£    £   
Cost 1,873,618 1,873,618

The Freehold Properties were valued on an open market basis on 31 July 2021 by ASH & Co. CS LLP .

6. SECURED DEBTS

The following secured debts are included within creditors:

31.7.23 31.7.22
£    £   
Bank loans 1,046,500 1,070,694

7. RESERVES
Non-distributable
reserves
£   
At 1 August 2022
and 31 July 2023 1,255,258