Company Registration No. 11124276 (England and Wales)
Cognitive Credit Limited
Unaudited accounts
for the year ended 31 December 2023
Cognitive Credit Limited
Unaudited accounts
Contents
Cognitive Credit Limited
Company Information
for the year ended 31 December 2023
Directors
Robert Slater
Marc Frans Julia Moens
Shea Zane Wallon
Company Number
11124276 (England and Wales)
Registered Office
Suite 8 2nd Floor
43-45 High road
Bushey Heath,England
WD23 1EE
Accountants
Charterwells
Suite 8, 2nd Floor
43-45 High Road
Bushey Heath
WD23 1EE
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Cognitive Credit Limited for the year ended 31 December 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
Cognitive Credit Limited for the year ended
31 December 2023 as set out on pages
5 -
7 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.
This report is made solely to the Board of Directors of Cognitive Credit Limited, as a body, in accordance with the terms of our engagement letter dated 10 March 2019. Our work has been undertaken solely to prepare for your approval the accounts of Cognitive Credit Limited and state those matters that we have agreed to state to the Board of Directors of Cognitive Credit Limited, as a body, in this report in accordance with AAF 07/16 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Cognitive Credit Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Cognitive Credit Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Cognitive Credit Limited. You consider that Cognitive Credit Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Cognitive Credit Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Charterwells
Chartered Accountants
Suite 8, 2nd Floor
43-45 High Road
Bushey Heath
WD23 1EE
1 February 2024
Cognitive Credit Limited
Statement of financial position
as at 31 December 2023
Investments
186,828
186,828
Debtors
1,041,454
1,020,572
Cash at bank and in hand
2,351,333
1,966,443
Creditors: amounts falling due within one year
(1,993,973)
(1,051,240)
Net current assets
1,398,814
1,935,775
Net assets
1,585,642
2,122,603
Called up share capital
2,300
1,976
Share premium
12,944,409
9,444,561
Profit and loss account
(11,361,067)
(7,323,934)
Shareholders' funds
1,585,642
2,122,603
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 1 February 2024 and were signed on its behalf by
Robert Slater
Director
Company Registration No. 11124276
Cognitive Credit Limited
Notes to the Accounts
for the year ended 31 December 2023
Cognitive Credit Limited is a private company, limited by shares, registered in England and Wales, registration number 11124276. The registered office is Suite 8 2nd Floor, 43-45 High road, Bushey Heath,England, WD23 1EE.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention.
The accounts are presented in £ sterling.
Expenditure on research and development is written off in the year in which it is incurred.
The company operates a defined contribution scheme for the benefit of its employees. The assets of the scheme are held separately from those of the company in independently administered funds. The pension costs charge represents contributions payable for the period by the company to the fund.
4
Investments
Other investments
Valuation at 1 January 2023
186,828
Valuation at 31 December 2023
186,828
Amounts falling due within one year
Trade debtors
309,400
217,750
Amounts due from group undertakings etc.
-
5,000
Accrued income and prepayments
214,572
205,972
Other debtors
517,482
591,850
Cognitive Credit Limited
Notes to the Accounts
for the year ended 31 December 2023
6
Creditors: amounts falling due within one year
2023
2022
Trade creditors
106,645
142,385
Taxes and social security
123,114
122,743
Other creditors
847,277
32,221
Deferred income
869,555
717,432
7
Average number of employees
During the year the average number of employees was 33 (2022: 29).