Kognet Limited - Limited company - abbreviated - 11.0.0

Kognet Limited - Limited company - abbreviated - 11.0.0

KOGNET LIMITED - Company Information

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REGISTERED NUMBER: 08398577 (England and Wales)
























ABBREVIATED UNAUDITED ACCOUNTS

FOR THE PERIOD 12 FEBRUARY 2013 TO 31 MARCH 2014

FOR

KOGNET LIMITED
TRADING AS
SHEPHARD'S

KOGNET LIMITED (REGISTERED NUMBER: 08398577)
TRADING AS SHEPHARD'S






CONTENTS OF THE ABBREVIATED ACCOUNTS
FOR THE PERIOD 12 FEBRUARY 2013 TO 31 MARCH 2014




Page

Company Information 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3

KOGNET LIMITED
TRADING AS SHEPHARD'S

COMPANY INFORMATION
FOR THE PERIOD 12 FEBRUARY 2013 TO 31 MARCH 2014







DIRECTORS: Mr J N McGowan
Mrs M L McGowan



REGISTERED OFFICE: 38 Harrogate Street
Barrow in Furness
Cumbria
LA14 5LY



REGISTERED NUMBER: 08398577 (England and Wales)



ACCOUNTANTS: J F Hornby & Co
Chartered Accountants
The Tower
Daltongate Business Centre
Daltongate
Ulverston
Cumbria
LA12 7AJ



BANKERS: Barclays Bank plc
86-88 Dalton Road
Barrow in Furness
Cumbria
LA14 1JF
Page 1
KOGNET LIMITED (REGISTERED NUMBER: 08398577)
TRADING AS SHEPHARD'S

ABBREVIATED BALANCE SHEET
31 MARCH 2014

Notes £    £   
FIXED ASSETS
Intangible assets 2 9,000
Tangible assets 3 3,039
12,039

CURRENT ASSETS
Stocks 1,000
Debtors 1,807
Cash at bank and in hand 10,974
13,781
CREDITORS
Amounts falling due within one year 24,832
NET CURRENT LIABILITIES (11,051 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
988

CAPITAL AND RESERVES
Called up share capital 4 2
Profit and loss account 986
SHAREHOLDERS' FUNDS 988

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2014.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2014 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies
Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of
each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections
394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial
statements, so far as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.


The financial statements were approved by the Board of Directors on 5 November 2014 and were signed on its behalf
by:




Mr J N McGowan - Director


The notes form part of these abbreviated accounts

Page 2
KOGNET LIMITED (REGISTERED NUMBER: 08398577)
TRADING AS SHEPHARD'S

NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE PERIOD 12 FEBRUARY 2013 TO 31 MARCH 2014

1. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared on the going concern basis the directors having agreed to continue
to support the company.

Accounting convention
The financial statements have been prepared under the historical cost convention and in accordance with the
Financial Reporting Standard for Smaller Entities (effective April 2008).

Exemption from preparing a cash flow statement
Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a
small company.

Turnover
Turnover represents net invoiced sales of goods, excluding VAT.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery - 20% on cost
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow
moving items.

2. INTANGIBLE FIXED ASSETS
Total
£   
COST
Additions 10,000
At 31 March 2014 10,000
AMORTISATION
Amortisation for period 1,000
At 31 March 2014 1,000
NET BOOK VALUE

At 31 March 2014 9,000

Page 3 continued...
KOGNET LIMITED (REGISTERED NUMBER: 08398577)
TRADING AS SHEPHARD'S

NOTES TO THE ABBREVIATED ACCOUNTS - continued
FOR THE PERIOD 12 FEBRUARY 2013 TO 31 MARCH 2014

3. TANGIBLE FIXED ASSETS
Total
£   
COST
Additions 3,735
At 31 March 2014 3,735
DEPRECIATION
Charge for period 696
At 31 March 2014 696
NET BOOK VALUE
At 31 March 2014 3,039

4. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal
value: £   
2 Ordinary 1 2

5. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr J N McGowan.


Page 4