Cognita Technologies Limited - Limited company accounts 16.3
Cognita Technologies Limited - Limited company accounts 16.3
REGISTERED NUMBER: |
REPORT OF THE DIRECTORS AND |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2017 |
FOR |
COGNITA TECHNOLOGIES LIMITED |
COGNITA TECHNOLOGIES LIMITED (REGISTERED NUMBER: 04062412) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2017 |
Page |
Company Information | 1 |
Report of the Directors | 2 |
Income Statement | 3 |
Balance Sheet | 4 |
Statement of Changes in Equity | 5 |
Notes to the Financial Statements | 6 |
COGNITA TECHNOLOGIES LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30 JUNE 2017 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
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 2017 |
The directors present their report with the financial statements of the company for the year ended 30 June 2017. |
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 2017 did not hold any beneficial interest in the issued share capital of |
the company at 1 July 2016 or 30 June 2017. |
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: |
COGNITA TECHNOLOGIES LIMITED (REGISTERED NUMBER: 04062412) |
INCOME STATEMENT |
FOR THE YEAR ENDED 30 JUNE 2017 |
2017 | 2016 |
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 2017 |
2017 | 2016 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 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 | (4,605,955 | ) | (4,717,370 | ) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
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 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 2017 |
Called up |
share | Retained | Total |
capital | earnings | equity |
£ | £ | £ |
Balance at 1 July 2015 | ( |
) | ( |
) |
Changes in equity |
Total comprehensive income | - |
Balance at 30 June 2016 | ( |
) | ( |
) |
Changes in equity |
Total comprehensive income | - |
Balance at 30 June 2017 | 1 | (4,605,956 | ) | (4,605,955 | ) |
COGNITA TECHNOLOGIES LIMITED (REGISTERED NUMBER: 04062412) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2017 |
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 |
The following principal accounting policies have been applied: |
Turnover |
Turnover represents licence fees receivable, excluding value added tax. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, |
except to the extent that it relates to items recognised in other comprehensive income or directly in |
equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been |
enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at |
the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods |
different from those in which they are recognised in financial statements. Deferred tax is measured |
using tax rates and laws that have been enacted or substantively enacted by the year end and that are |
expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable |
that they will be recovered against the reversal of deferred tax liabilities or other future taxable |
profits. |
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. |
COGNITA TECHNOLOGIES LIMITED (REGISTERED NUMBER: 04062412) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2017 |
3. | OPERATING PROFIT |
The operating profit is stated after charging: |
2017 | 2016 |
£ | £ |
Auditors' remuneration |
4. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Amounts owed by group undertakings |
Other debtors |
5. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
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 £2,200 (2016: £1,735). At 30 June |
2017 the amount outstanding was £Nil (2016: £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. |