Company registration number SC416752 (Scotland)
Cortex Control Limited
Unaudited financial statements
for the year ended 28 February 2024
Pages for filing with registrar
Cortex Control Limited
Chartered Accountants' report to the board of directors on the preparation of the
unaudited statutory financial statements of Cortex Control Limited
1

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Cortex Control Limited for the year ended 28 February 2024 which comprise, the statement of financial position and the related notes from the company’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the ICAS we are subject to its ethical and other professional requirements which are detailed at https://www.icas.com/professional-resources/practice/support-and-guidance/framework-for-the-preparation-of-accounts-revised-june-2020.

This report is made solely to the board of directors of Cortex Control Limited, as a body, in accordance with the terms of our engagement letter dated 23 August 2013. Our work has been undertaken solely to prepare for your approval the financial statements of Cortex Control Limited and state those matters that we have agreed to state to the board of directors of Cortex Control Limited, as a body, in this report in accordance with the requirements of the ICAS as detailed at https://icas.com/icas-framework-preparation-of-accounts. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Cortex Control Limited and its board of directors as a body, for our work or for this report.

It is your duty to ensure that Cortex Control Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Cortex Control Limited. You consider that Cortex Control 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 financial statements of Cortex Control 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 financial statements.

James Milne
Chartered Accountants
5 Bon Accord Square
Aberdeen
AB11 6XZ
28 November 2024
Cortex Control Limited
Statement of financial position
as at 28 February 2024
28 February 2024
2
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
2
-
0
70
Current assets
Debtors
1,217
3,672
Cash at bank and in hand
5
1,391
1,222
5,063
Creditors: amounts falling due within one year
(392)
(2,272)
Net current assets
830
2,791
Net assets
830
2,861
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
829
2,860
Total equity
830
2,861

In accordance with section 444 of the Companies Act 2006, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).

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 28 February 2024 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 member has 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.

Cortex Control Limited
Statement of financial position (continued)
as at 28 February 2024
28 February 2024
3
The financial statements were approved by the board of directors and authorised for issue on 28 November 2024 and are signed on its behalf by:
Barry I. Milne
Director
Company Registration No. SC416752
Cortex Control Limited
Notes to the financial statements
for the year ended 28 February 2024
4
1
Accounting policies
Company information

Cortex Control Limited is a private company limited by shares incorporated in Scotland. The registered office is Dalfro, Strachan, Banchory, AB31 6LN.

1.1
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.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
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:

Fixtures and fittings
3 years straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

2
Tangible fixed assets
Total
£
Cost
At 1 March 2023 and 28 February 2024
549
Depreciation and impairment
At 1 March 2023
479
Depreciation charged in the year
70
At 28 February 2024
549
Carrying amount
At 28 February 2024
-
0
At 28 February 2023
70
Cortex Control Limited
Notes to the financial statements (continued)
for the year ended 28 February 2024
5
3
Directors' transactions

During the year the following director entered into the following advances and credits with the company:

Description
Opening                       debit                    balance
Amounts repaid
Closing                      credit                            balance
£
£
£
Barry I. Milne - Director's Loan
2,454
(2,471)
(17)
2,454
(2,471)
(17)
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