Registered number
12215764
Cogent Networks Ltd
Filleted Accounts
30 September 2023
Cogent Networks Ltd
Registered number: 12215764
Balance Sheet
as at 30 September 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 25,554 35,757
Current assets
Debtors 4 456,947 184,204
Cash at bank and in hand 68,708 242,179
525,655 426,383
Creditors: amounts falling due within one year 5 (390,112) (335,721)
Net current assets 135,543 90,662
Net assets 161,097 126,419
Capital and reserves
Called up share capital 300 300
Profit and loss account 160,797 126,119
Shareholders' funds 161,097 126,419
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Danish Awan
Director
Approved by the board on 23 October 2024
Cogent Networks Ltd
Notes to the Accounts
for the year ended 30 September 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor vehicle Straight line 20%
Computer equipments Straight line 25%
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 3 2
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 October 2022 11,751 46,844 58,595
Additions 2,804 - 2,804
At 30 September 2023 14,555 46,844 61,399
Depreciation
At 1 October 2022 7,762 15,076 22,838
Charge for the year 3,638 9,369 13,007
At 30 September 2023 11,400 24,445 35,845
Net book value
At 30 September 2023 3,155 22,399 25,554
At 30 September 2022 3,989 31,768 35,757
4 Debtors 2023 2022
£ £
Trade debtors 284,615 184,204
Amounts owed by group undertakings and undertakings in which the company has a participating interest 172,332 -
456,947 184,204
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 132,199 73,091
Taxation and social security costs 32,776 21,813
Other creditors 225,137 240,817
390,112 335,721
6 Other information
Cogent Networks Ltd is a private company limited by shares and incorporated in England. Its registered office is:
5 Great Portland Street
Fifth Floor
London
W1W 7LT
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