Cohort Studios Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC297259 (Scotland)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 MARCH 2019 TO 31 AUGUST 2019

FOR

COHORT STUDIOS LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

Ms S H Pool

REGISTERED OFFICE:

5th Floor

125 Princes Street

Edinburgh

EH2 4AD

REGISTERED NUMBER:

SC297259 (Scotland)

ACCOUNTANTS:

Kings Mill Partnership

75 Park Lane

Croydon

Surrey

CR9 1XS

FIXED ASSETS

Intangible assets

3

-

20,000

Tangible assets

4

-

-

-

20,000

CURRENT ASSETS

Debtors

5

157,409

112,671

Cash in hand

7,161

3,741

164,570

116,412

CREDITORS

Amounts falling due within one year

6

17,624

17,624

NET CURRENT ASSETS

146,946

98,788

TOTAL ASSETS LESS CURRENT LIABILITIES

146,946

118,788

CREDITORS

Amounts falling due after more than one year

7

240,000

240,000

NET LIABILITIES

(93,054

)

(121,212

)

CAPITAL AND RESERVES

Called up share capital

267

267

Revaluation reserve

8

85,000

85,000

Capital redemption reserve

534

534

Retained earnings

(178,855

)

(207,013

)

SHAREHOLDERS' FUNDS

(93,054

)

(121,212

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 August 2019.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 August 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 28 October 2019 and were signed by:

Ms S H Pool - Director

1.	STATUTORY INFORMATION

Cohort Studios Limited is a private company, limited by shares , registered in Scotland. The company's

registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents net invoiced sales of services, excluding value added tax.

Intangible assets

Intangible assets are measured at cost less accumulated amortisation and any accumulated impairment losses.

Software development costs are recognised as an intangible asset when all of the following criteria are

demonstrated:

- The technical feasibility of completing the software so that it will be available for use or sale.

- The intention to complete the software and use or sell it. The ability to use the software or to sell it.

- How the software will generate probable future economic benefits.

- The availability of adequate technical, financial and other resources to complete the development and to use or

sell the software.

- The ability to measure reliably the expenditure attributable to the software during its development.

Amortisation is charged so as to allocate the cost of intangibles less their residual values over their estimated

useful lives, using the straight-line method. The intangible assets are amortised over the following useful

economic lives:

- Software development costs 5 years

If there is an indication that there has been a significant change in amortisation rate or residual value of an asset,

the amortisation of that asset is revised prospectively to reflect the new expectations.

Tangible fixed assets

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and

accumulated impairment losses.

Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual

value, over their expected useful lives at the following rates

Plant and machinery

- 25% Straight line

Assets held under finance leases are depreciated in the same way as owned assets.

At each statement of financial position date, the company reviews the carrying amount of its tangible fixed assets

to determine whether there is any indication that any items have suffered an impairment loss. If any such

indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the

impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the company

estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Taxation

Taxation for the period 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 statement of financial position date.

Deferred tax

Deferred tax is provided using the liability method in respect of all material timing differences that have

originated but not reversed by the balance sheet date. Deferred tax assets are recognised where it is considered

more likely than not that future profits will be available for offset. The company has not adopted a policy of

discounting deferred tax assets and liabilities.

3.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 March 2019

and 31 August 2019

100,000

AMORTISATION

At 1 March 2019

80,000

Charge for period

20,000

At 31 August 2019

100,000

NET BOOK VALUE

At 31 August 2019

-

At 28 February 2019

20,000

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 March 2019

and 31 August 2019

175,001

DEPRECIATION

At 1 March 2019

and 31 August 2019

175,001

NET BOOK VALUE

At 31 August 2019

-

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2019

£

£

Other debtors

157,409

112,671

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2019

£

£

Other creditors

17,624

17,624

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2019

£

£

Other creditors

240,000

240,000

8.

RESERVES

Revaluation

reserve

£

At 1 March 2019

and 31 August 2019

85,000