Cogence Search Limited - Period Ending 2018-12-31

Registration number: 06900264

Cogence Search Limited

Annual Report and Unaudited Financial Statements

for the Period from 1 September 2017 to 31 December 2018

Cogence Search Limited

Contents

Balance Sheet	1 to 2
Notes to the Financial Statements	3 to 6

Cogence Search Limited

(Registration number: 06900264)
Balance Sheet as at 31 December 2018

	Note	2018 £	2017 £
Fixed assets
Tangible assets	4	1,819	5,144
Investments	5	25,998	25,998
		27,817	31,142
Current assets
Debtors	6	62,685	61,208
Cash at bank and in hand		231	264
		62,916	61,472
Creditors: Amounts falling due within one year	7	(438,479)	(315,897)
Net current liabilities		(375,563)	(254,425)
Total assets less current liabilities		(347,746)	(223,283)
Provisions for liabilities		(1,029)	(1,029)
Net liabilities		(348,775)	(224,312)
Capital and reserves
Called up share capital		8	8
Profit and loss account		(348,783)	(224,320)
Total equity		(348,775)	(224,312)

For the financial period ending 31 December 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and
•	The directors acknowledge their 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 and the option not to file the Profit and Loss Account has been taken.

The notes on pages 3 to 6 form an integral part of these financial statements.

Page 1

Cogence Search Limited

(Registration number: 06900264)
Balance Sheet as at 31 December 2018

Approved and authorised by the Board on 24 September 2019 and signed on its behalf by:
 

.........................................

CJ Hume

Director

The notes on pages 3 to 6 form an integral part of these financial statements.

Page 2

Cogence Search Limited

Notes to the Financial Statements for the Period from 1 September 2017 to 31 December 2018

1	General information

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

The address of its registered office is:
8 Devonshire Square
London
EC2M 4PL
United Kingdom

These financial statements were authorised for issue by the Board on 24 September 2019.

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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

At the balance sheet date the company had net liabilities of £348,775 (£224,312). The directors believe it to be appropriate to prepare the financial statements on the going concern basis, despite the fact that the company is technically insolvent at 31 December 2018. This is due to the continued support of the directors. The financial statements do not include any adjustments that would result from a withdrawal of this support.

Tangible assets

Tangible assets are stated in the statement of financial position 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
Furniture and fittings	15% on reducing balance
Office equipment	33.33% on cost

Page 3

Cogence Search Limited

Notes to the Financial Statements for the Period from 1 September 2017 to 31 December 2018

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

3	Staff numbers

The average number of persons employed by the company during the period, was 3 (2017 - 7).

4	Tangible assets

	Furniture and fittings  £	Office equipment  £	Total £
Cost or valuation
At 1 September 2017	6,294	20,057	26,351
Additions	391	1,997	2,388
Disposals	(6,294)	(18,322)	(24,616)
At 31 December 2018	391	3,732	4,123
Depreciation
At 1 September 2017	3,525	17,682	21,207
Charge for the period	123	941	1,064
Eliminated on disposal	(3,525)	(16,442)	(19,967)
At 31 December 2018	123	2,181	2,304
Carrying amount
At 31 December 2018	268	1,551	1,819
At 31 August 2017	2,769	2,375	5,144

Page 4

Cogence Search Limited

Notes to the Financial Statements for the Period from 1 September 2017 to 31 December 2018

5	Investments

	2018 £	2017 £
Investments in subsidiaries	25,998	25,998

Subsidiaries	£
Cost or valuation
At 1 September 2017	25,998
Provision
Carrying amount
At 31 December 2018	25,998
At 31 August 2017	25,998

Details of undertakings

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking	Registered office	Holding	Proportion of voting rights and shares held
			2018	2017
Subsidiary undertakings
Cogence Search PTE Ltd		Ordinary	100%	100%
	Singapore
Codex Edge Limited		Ordinary	100%	100%
	England

6

Debtors

	2018 £	2017 £
Trade debtors	23,756	43,750
Prepayments	676	9,424
Other debtors	38,253	8,034
	62,685	61,208

Page 5

Cogence Search Limited

Notes to the Financial Statements for the Period from 1 September 2017 to 31 December 2018

7

Creditors

Creditors: amounts falling due within one year

	2018 £	2017 £
Due within one year
Trade creditors	431,362	268,469
Taxation and social security	5,117	30,494
Accruals and deferred income	2,000	5,219
Other creditors	-	11,715
	438,479	315,897

8	Related party transactions

Summary of transactions with subsidiaries

Codex Edge Limited
(Direct Subsidiary Company)
 There were no disclosable transactions during the year with Codex Edge Limited. At the balance sheet date the amount due from Codex Edge Limited was £22,177 (2017 : £nil).
 

Page 6