Company registration number 11035382 (England and Wales)
Cognisys Group Limited
Unaudited
financial statements
for the year ended 31 December 2023
PAGES FOR FILING WITH REGISTRAR
Cognisys Group Limited
Contents
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 5
Cognisys Group Limited
Statement Of Financial Position
as at 31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
27,949
24,613
Current assets
Debtors
4
258,223
69,701
Cash at bank and in hand
148,081
134,539
406,304
204,240
Creditors: amounts falling due within one year
5
(207,141)
(159,373)
Net current assets
199,163
44,867
Total assets less current liabilities
227,112
69,480
Creditors: amounts falling due after more than one year
6
(87,921)
(31,749)
Net assets
139,191
37,731
Capital and reserves
Called up share capital
7
131
131
Profit and loss reserves
139,060
37,600
Total equity
139,191
37,731
Cognisys Group Limited
Statement Of Financial Position (continued)
as at 31 December 2023
- 2 -
The directors of the company have elected not to include a copy of the income statement within the financial statements.true
For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 8 April 2024 and are signed on its behalf by:
S Spence
Director
Company Registration No. 11035382
Cognisys Group Limited
Notes to the financial statements
for the year ended 31 December 2023
- 3 -
1
Accounting policies
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
Turnover
Turnover represents the fair value of the consideration received for services provided in the normal course of business, and is shown net of VAT. Turnover is recognised upon the provision of services.
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost less depreciation.
Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
15% Reducing balance
Computers
15% Reducing balance
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
Government grants
Grants relating to an asset are recognised in income systematically over the asset's expected useful life.
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
Cognisys Group Limited
Notes to the financial statements (continued)
for the year ended 31 December 2023
- 4 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
20
16
3
Tangible fixed assets
Fixtures and fittings
Computers
Total
£
£
£
Cost
At 1 January 2023
2,717
33,129
35,846
Additions
1,573
6,288
7,861
At 31 December 2023
4,290
39,417
43,707
Depreciation and impairment
At 1 January 2023
957
10,276
11,233
Depreciation charged in the year
378
4,147
4,525
At 31 December 2023
1,335
14,423
15,758
Carrying amount
At 31 December 2023
2,955
24,994
27,949
At 31 December 2022
1,760
22,853
24,613
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
249,195
69,701
Prepayments and accrued income
9,028
258,223
69,701
Cognisys Group Limited
Notes to the financial statements (continued)
for the year ended 31 December 2023
- 5 -
5
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
53,877
8,878
Obligations under finance leases
6,395
3,687
Trade creditors
35,126
16,512
Corporation tax
15,143
10,308
Other taxation and social security
91,353
61,274
Other creditors
50,327
Accruals and deferred income
5,247
8,387
207,141
159,373
The hire purchase contracts are secured against the assets to which they relate.
6
Creditors: amounts falling due after more than one year
2023
2022
Notes
£
£
Bank loans and overdrafts
84,665
27,141
Obligations under finance leases
3,256
4,608
87,921
31,749
7
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A shares of 1p each
10,000
10,000
100
100
Ordinary B shares of 1p each
3,049
3,049
31
31
13,049
13,049
131
131
8
Company information
Cognisys Group Limited is a private company limited by shares incorporated in England and Wales. The registered office is 5 Park Place, Leeds, West Yorkshire, LS1 2RU.