Cohort Studios Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: SC297259 (Scotland)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2018

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

4

40,000

60,000

Tangible assets

5

41,094

84,844

81,094

144,844

CURRENT ASSETS

Debtors

6

96,346

51,573

Cash in hand

3,072

916

99,418

52,489

CREDITORS

Amounts falling due within one year

7

17,624

17,102

NET CURRENT ASSETS

81,794

35,387

TOTAL ASSETS LESS CURRENT LIABILITIES

162,888

180,231

CREDITORS

Amounts falling due after more than one year

8

105,000

25,000

NET ASSETS

57,888

155,231

CAPITAL AND RESERVES

Called up share capital

267

267

Revaluation reserve

9

85,000

85,000

Capital redemption reserve

534

534

Retained earnings

(27,913

)

69,430

SHAREHOLDERS' FUNDS

57,888

155,231

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2018 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 11 May 2018 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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

Depreciation is provided at the following annual rate in order to write off each asset over its estimated useful life:

Plant and machinery

- 25% Straight line

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 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.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2017 - 1 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 March 2017

and 28 February 2018

100,000

AMORTISATION

At 1 March 2017

40,000

Charge for year

20,000

At 28 February 2018

60,000

NET BOOK VALUE

At 28 February 2018

40,000

At 28 February 2017

60,000

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 March 2017

and 28 February 2018

175,001

DEPRECIATION

At 1 March 2017

90,157

Charge for year

43,750

At 28 February 2018

133,907

NET BOOK VALUE

At 28 February 2018

41,094

At 28 February 2017

84,844

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Other debtors

96,346

51,573

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

-

22

Other creditors

17,624

17,080

17,624

17,102

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Other creditors

105,000

25,000

9.

RESERVES

Revaluation

reserve

£

At 1 March 2017

and 28 February 2018

85,000