Accounts filed on 31-10-2015

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			Company registration number:03652535
			COSEC INFO LIMITED
			ABBREVIATED FINANCIAL STATEMENTS
			FOR THE YEAR ENDED 31 October 2015

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COSEC INFO LIMITED
BALANCE SHEET
AS AT 31 October 2015
			2015				2014
		Notes	£		£		£		£
FIXED ASSETS
Tangible assets		2			7,381				5,792
					7,381				5,792
CURRENT ASSETS
Debtors			15,607				10,039
Cash at bank and in hand			0				761
			15,607				10,800
CREDITORS
Amounts falling due within one year			(5,738)				(15,603)
NET CURRENT ASSETS					9,869				(4,803)
TOTAL ASSETS LESS
CURRENT LIABILITIES					17,250				989
NET ASSETS					17,250				989
CAPITAL AND RESERVES
Called-up equity share capital		3			10				10
Profit and loss account					17,240				979
SHAREHOLDERS FUNDS					17,250				989
For the year ending 31 October 2015 the company was entitled to exemption 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of the accounts.
These financial statements have been prepared in accordance with the special provisions relating to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008). Approved by the board of directors on 30 June 2016 and signed on its behalf.
..........................................................................
John Coletta
30 June 2016
The annexed notes form part of these financial statements.

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COSEC INFO LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2015

1.

Accounting policies

Basis of preparing the financial statements

The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective March 2000).

Statement of cashflow

The Company has taken advantage of the exemption in Financial Reporting Standard No.1 from the requirement to produce a cashflow statement on the grounds that it is a small company.

Turnover

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

Intangible assets

Goodwill is the difference between the amount paid on the acquisition of a business and the aggregate fair value of its separable net assets. It is being written off in equal annual instalments over its estimated economic life.

Fixed assets

Tangible fixed assets are stated at cost less depreciation Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant and Machinery - 15% per annum reducing balance

Leasing

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.

Deferred taxation

The charge for taxation takes into account taxation deferred as a result of timing differences between the treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. However, deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted. Deferred taxation is measured on a non-discounted basis at the tax rates that are expected to apply in the periods in which the timing differences reverse, based on tax rates and the law enacted or substantively enacted at the balance sheet date. Provision is made for taxation deferred as a result of material timing differences between the incidence of income and expenditure for taxation purposes, using the liability method, only to the extent that, in the opinion of the directors, there is a reasonable probability that a a liability or asset will crystallise in the near future.

2.	Tangible fixed assets
				Total
	Cost
	At start of period			18,906
	Additions			1,589
	At end of period			20,495
	Depreciation
	At start of period			13,114
	At end of period			13,114
	Net Book Value
	At start of period			5,792
	At end of period			7,381

3.	Share capital				Allotted, issued and fully paid
					2015	2014
					£	£
	Ordinary shares of £1 each				10	10
	Total issued share capital				10	10