Cognita Technologies Limited - Limited company accounts 16.1
Cognita Technologies Limited - Limited company accounts 16.1
REGISTERED NUMBER: |
REPORT OF THE DIRECTORS AND |
AUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2016 |
FOR |
COGNITA TECHNOLOGIES LIMITED |
COGNITA TECHNOLOGIES LIMITED (REGISTERED NUMBER: 04062412) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2016 |
Page |
Company Information | 1 |
Report of the Directors | 2 |
Report of the Independent Auditors | 4 |
Income statement | 6 |
Balance Sheet | 7 |
Statement of Changes in Equity | 8 |
Notes to the Financial Statements | 9 |
Reconciliation of Equity | 11 |
Reconciliation of Profit | 13 |
COGNITA TECHNOLOGIES LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30 JUNE 2016 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
SENIOR STATUTORY AUDITOR: |
AUDITORS: |
Portwall Place |
Portwall Lane |
Bristol |
BS1 6NA |
SOLICITORS: |
Capital House |
85 King William Street |
London |
EC4N 7BL |
COGNITA TECHNOLOGIES LIMITED (REGISTERED NUMBER: 04062412) |
REPORT OF THE DIRECTORS |
FOR THE YEAR ENDED 30 JUNE 2016 |
The directors present their report with the financial statements of the company for the year ended 30 June 2016. |
PRINCIPAL ACTIVITY |
The principal activity of the company in the year under review was that of the ownership and development of |
real-time interactive software solutions for internet-abled equipment. |
DIRECTORS |
The directors during the year under review were: |
The directors holding office at 30 June 2016 did not hold any beneficial interest in the issued share capital of |
the company at 1 July 2015 or 30 June 2016. |
STATEMENT OF DIRECTORS' RESPONSIBILITIES |
The directors are responsible for preparing the Report of the Directors and the financial statements in |
accordance with applicable law and regulations. |
Company law requires the directors to prepare financial statements for each financial year. Under that law |
the directors have elected to prepare the financial statements in accordance with United Kingdom Generally |
Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law) including |
Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of |
Ireland". Under company law the directors must not approve the financial statements unless they are satisfied |
that they give a true and fair view of the state of affairs of the company and of the profit or loss of the |
company for that period. In preparing these financial statements, the directors are required to: |
- select suitable accounting policies and then apply them consistently; |
- make judgements and accounting estimates that are reasonable and prudent; |
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the |
company will continue in business. |
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain |
the company's transactions and disclose with reasonable accuracy at any time the financial position of the |
company and enable them to ensure that the financial statements comply with the Companies Act 2006. They |
are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the |
prevention and detection of fraud and other irregularities. |
STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS |
So far as each of the directors are aware, there is no relevant audit information (as defined by Section 418 of |
the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the |
steps that he ought to have taken as a director in order to make himself aware of any relevant audit |
information and to establish that the company's auditors are aware of that information. |
AUDITORS |
The auditors, Nexia Smith & Williamson, will be proposed for re-appointment at the annual general meeting. |
COGNITA TECHNOLOGIES LIMITED (REGISTERED NUMBER: 04062412) |
REPORT OF THE DIRECTORS |
FOR THE YEAR ENDED 30 JUNE 2016 |
This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 |
relating to small companies. |
ON BEHALF OF THE BOARD: |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
COGNITA TECHNOLOGIES LIMITED |
We have audited the financial statements of Arcontech Limited for the year ended 30 June 2016 which |
comprise the Income Statement, the Balance Sheet, the Statement of Changes in Equity and the related notes |
1 to 7. The financial reporting framework that has been applied in their preparation is applicable law and |
United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), |
including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and |
Republic of Ireland'. |
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of |
the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's |
members those matters we are required to state to them in a Report of the Auditors and for no other purpose. |
To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the |
company and the company's members as a body, for our audit work, for this report, or for the opinions we |
have formed. |
Respective responsibilities of directors and auditors |
Scope of the audit of the financial statements |
A description of the scope of an audit of financial statements is provided on the FRC's website at |
www.frc.org.uk/auditscopeukprivate. |
Opinion on financial statements |
In our opinion the financial statements: |
- | give a true and fair view of the state of the company's affairs as at 30 June 2016 and of its profit for the year then ended; |
- | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
- | have been prepared in accordance with the requirements of the Companies Act 2006. |
Opinion on other matters prescribed by the Companies Act 2006 |
In our opinion, based on the work undertaken in the course of the audit: |
- the information given in the Directors' Report for the financial year for which the financial statements are |
prepared is consistent with those financial statements; and |
- the Directors' Report has been prepared in accordance with applicable legal requirements. In the light of the |
knowledge and understanding of the company and its environment obtained in the course of the audit, we |
have identified no material misstatements in the Directors' Report. |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
COGNITA TECHNOLOGIES LIMITED |
Matters on which we are required to report by exception |
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to |
report to you if, in our opinion: |
- | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or |
- | the financial statements are not in agreement with the accounting records and returns; or |
- | certain disclosures of directors' remuneration specified by law are not made; or |
- | we have not received all the information and explanations we require for our audit; or |
- | the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Directors. |
for and on behalf of |
Portwall Place |
Portwall Lane |
Bristol |
BS1 6NA |
COGNITA TECHNOLOGIES LIMITED (REGISTERED NUMBER: 04062412) |
INCOME STATEMENT |
FOR THE YEAR ENDED 30 JUNE 2016 |
2016 | 2015 |
Notes | £ | £ |
TURNOVER |
Administrative expenses |
OPERATING PROFIT and |
PROFIT BEFORE TAXATION | 3 |
Tax on profit |
PROFIT FOR THE FINANCIAL YEAR |
COGNITA TECHNOLOGIES LIMITED (REGISTERED NUMBER: 04062412) |
BALANCE SHEET |
30 JUNE 2016 |
2016 | 2015 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors: amounts falling due within one year |
4 |
CREDITORS |
Amounts falling due within one year | 5 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
The financial statements were approved by the Board of Directors on behalf by: |
COGNITA TECHNOLOGIES LIMITED (REGISTERED NUMBER: 04062412) |
STATEMENT OF CHANGES IN EQUITY |
FOR THE YEAR ENDED 30 JUNE 2016 |
Called up |
share | Retained | Total |
capital | earnings | equity |
£ | £ | £ |
Balance at 1 July 2014 | ( |
) | ( |
) |
Changes in equity |
Total comprehensive income | - |
Balance at 30 June 2015 | ( |
) | ( |
) |
Changes in equity |
Total comprehensive income | - |
Balance at 30 June 2016 | ( |
) | ( |
) |
COGNITA TECHNOLOGIES LIMITED (REGISTERED NUMBER: 04062412) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2016 |
1. | STATUTORY INFORMATION |
Cognita Technologies Limited is a |
Wales. The company's registered number and registered office address can be found on the Company |
Information page. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Information on the impact of adoption of FRS 102 has been given on pages 11 to 13. |
The following principal accounting policies have been applied: |
Turnover |
Turnover represents licence fees receivable, excluding value added tax. |
Deferred tax |
Provision is made for deferred taxation, using the full provision method on an undiscounted basis on |
all material timing differences. Deferred taxation has been recognised as a liability or an asset if |
transactions have occurred at the balance sheet date that give rise to an obligation to pay more tax in |
the future, or a right to pay less taxation in the future. An asset is not recognised to the extent that the |
transfer of economic benefits in the future is uncertain. |
Cash flow statement |
The company has taken advantage of the exemption in FRS 1 (Cash Flow Statements) from the |
requirement to prepare a cash flow statment as it qualifies as a wholly owned subsidiary. |
Going concern |
The parent undertaking, Arcontech Group plc, has agreed to provide financial support as the company |
continues to research and develop its products. Accordingly, the financial statements have been |
prepared on a going concern basis. |
3. | OPERATING PROFIT |
The operating profit is stated after charging: |
2016 | 2015 |
£ | £ |
Auditors' remuneration |
COGNITA TECHNOLOGIES LIMITED (REGISTERED NUMBER: 04062412) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2016 |
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2016 | 2015 |
£ | £ |
Amounts owed by group undertakings |
Other debtors |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2016 | 2015 |
£ | £ |
Amounts owed to group undertakings |
Other creditors |
The amounts due to group undertakings are repayable on demand. However, it is not anticipated that |
this will be repaid within one year. |
6. | RELATED PARTY DISCLOSURES |
During the year, fees payable to Michael Levy & Co, Chartered Accountants, in which Michael Levy |
is the principal, in respect of accountancy services amounted to £1,735 (2015: £1,845). At 30 June |
2016 the amount outstanding was £Nil (2015: £Nil). |
7. | ULTIMATE CONTROLLING PARTY |
The company is a wholly owned subsidiary of Arcontech Group plc which is registered in England & |
Wales and is the immediate controlling party. |
There is no ultimate controlling party. |
The largest and smallest group of companies for which group financial statements are drawn up is that |
headed by Arcontech Group plc. Consolidated financial statements of Arcontech Group plc are |
available from Companies House. |
The company has taken advantage of the exemption under Financial Reporting Standard 8 from |
disclosing transactions with other wholly owned group companies that are incorporated within the |
financial statements of its parent company Arcontech Group plc. |
COGNITA TECHNOLOGIES LIMITED (REGISTERED NUMBER: 04062412) |
RECONCILIATION OF EQUITY |
1 JULY 2014 |
(DATE OF TRANSITION TO FRS 102) |
Effect of |
UK | transition |
GAAP | to FRS 102 | FRS 102 |
Notes | £ | £ | £ |
CURRENT ASSETS |
Debtors | 153,114 | 153,114 |
CREDITORS |
Amounts falling due within one year | (5,094,269 | ) | (5,094,269 | ) |
NET CURRENT LIABILITIES | (4,941,155 | ) | (4,941,155 | ) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
(4,941,155 |
) |
(4,941,155 |
) |
NET LIABILITIES | (4,941,155 | ) | (4,941,155 | ) |
CAPITAL AND RESERVES |
Called up share capital | 1 | 1 |
Retained earnings | (4,941,156 | ) | (4,941,156 | ) |
SHAREHOLDERS' FUNDS | (4,941,155 | ) | (4,941,155 | ) |
COGNITA TECHNOLOGIES LIMITED (REGISTERED NUMBER: 04062412) |
RECONCILIATION OF EQUITY - continued |
30 JUNE 2015 |
Effect of |
UK | transition |
GAAP | to FRS 102 | FRS 102 |
Notes | £ | £ | £ |
CURRENT ASSETS |
Debtors | 217,108 | 217,108 |
CREDITORS |
Amounts falling due within one year | (5,077,396 | ) | (5,077,396 | ) |
NET CURRENT LIABILITIES | (4,860,288 | ) | (4,860,288 | ) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
(4,860,288 |
) |
(4,860,288 |
) |
NET LIABILITIES | (4,860,288 | ) | (4,860,288 | ) |
CAPITAL AND RESERVES |
Called up share capital | 1 | 1 |
Retained earnings | (4,860,289 | ) | (4,860,289 | ) |
SHAREHOLDERS' FUNDS | (4,860,288 | ) | (4,860,288 | ) |
COGNITA TECHNOLOGIES LIMITED (REGISTERED NUMBER: 04062412) |
RECONCILIATION OF PROFIT |
FOR THE YEAR ENDED 30 JUNE 2015 |
Effect of |
UK | transition |
GAAP | to FRS 102 | FRS 102 |
£ | £ | £ |
TURNOVER | 94,069 | 94,069 |
Administrative expenses | (13,202 | ) | (13,202 | ) |
OPERATING PROFIT | 80,867 | 80,867 |
and |
PROFIT BEFORE TAXATION | 80,867 | 80,867 |
Tax on profit | - | - |
PROFIT FOR THE FINANCIAL YEAR |
80,867 |
80,867 |