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Registration number: 11820655

Cogitech Limited

REPORT OF THE DIRECTORS and Unaudited Financial Statements

for the Year Ended 28 February 2025

 

Cogitech Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Cogitech Limited

Company Information

Director

Mr Scott Anthony Tanswell

Company secretary

Ms Bethan Smith

Registered office

c/o Wynne & Co
Forestry House
Brewery Road
Carmarthen
Carmarthenshire
SA31 1TF
 

Accountants

Wynne & Co
Chartered Accountants
Forestry House
Brewery Road
Carmarthen
Carmarthenshire
SA31 1TF

 

Cogitech Limited

(Registration number: 11820655)
Balance Sheet as at 28 February 2025

Note

28 February
2025
£

29 February
2024
£

Current assets

 

Debtors

5

137

155

Cash at bank and in hand

 

23,311

19,480

 

23,448

19,635

Creditors: Amounts falling due within one year

6

(21,392)

(18,730)

Net assets

 

2,056

905

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

1,956

805

Shareholders' funds

 

2,056

905

 

Cogitech Limited

(Registration number: 11820655)
Balance Sheet as at 28 February 2025

For the financial year ending 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 14 April 2025
 

.........................................
Mr Scott Anthony Tanswell
Director

 

Cogitech Limited

Notes to the Unaudited Financial Statements
for the Year Ended 28 February 2025

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
c/o Wynne & Co
Forestry House
Brewery Road
Carmarthen
Carmarthenshire
SA31 1TF
Wales

These financial statements were authorised for issue by the director on 14 April 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Cogitech Limited

Notes to the Unaudited Financial Statements
for the Year Ended 28 February 2025

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Computer equipment

33% Straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Cogitech Limited

Notes to the Unaudited Financial Statements
for the Year Ended 28 February 2025

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2024 - 1).

 

Cogitech Limited

Notes to the Unaudited Financial Statements
for the Year Ended 28 February 2025

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 March 2024

1,625

1,625

At 28 February 2025

1,625

1,625

Depreciation

At 1 March 2024

1,625

1,625

At 28 February 2025

1,625

1,625

Carrying amount

At 28 February 2025

-

-

5

Debtors

Current

28 February
2025
£

29 February
2024
£

Other debtors

137

155

 

137

155

 

Cogitech Limited

Notes to the Unaudited Financial Statements
for the Year Ended 28 February 2025

6

Creditors

Creditors: amounts falling due within one year

28 February
2025
£

29 February
2024
£

Due within one year

Taxation and social security

-

287

Accruals and deferred income

945

900

Other creditors

20,447

17,543

21,392

18,730

7

Share capital

Allotted, called up and fully paid shares

28 February
2025

29 February
2024

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

       
 

Cogitech Limited

Notes to the Unaudited Financial Statements
for the Year Ended 28 February 2025

8

Dividends

Interim dividends paid

28 February
2025
£

29 February
2024
£

Interim dividend of £615.00 (2024 - £587.00) per each Ordinary shares

61,500

58,700

 

 

9

Related party transactions

Director's remuneration

The director's remuneration for the year was as follows:

2025
£

2024
£

Remuneration

9,534

13,058