Registered Number 05078887

COGENT FINANCIAL PLANNING LIMITED

Abbreviated Accounts

31 May 2014

COGENT FINANCIAL PLANNING LIMITED Registered Number 05078887

Abbreviated Balance Sheet as at 31 May 2014

Notes 2014 2013
£ £
Fixed assets
Tangible assets 2 3,293 1,546
3,293 1,546
Current assets
Debtors 71,222 90,253
Cash at bank and in hand 48,696 1,980
119,918 92,233
Creditors: amounts falling due within one year (64,025) (59,718)
Net current assets (liabilities) 55,893 32,515
Total assets less current liabilities 59,186 34,061
Total net assets (liabilities) 59,186 34,061
Capital and reserves
Called up share capital 3 100 100
Profit and loss account 59,086 33,961
Shareholders' funds 59,186 34,061
  • For the year ending 31 May 2014 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
  • The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
  • These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 6 October 2014

And signed on their behalf by:
Mrs B Taylor-Baker, Director

COGENT FINANCIAL PLANNING LIMITED Registered Number 05078887

Notes to the Abbreviated Accounts for the period ended 31 May 2014

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.


Stocks

Work in progress is valued at selling price, to the extent that it is complete, and shown as accrued.


Deferred taxation

Full provision is made for deferred taxation resulting from timing differences between the recognition of gains and losses in the accounts and their recognition for tax purposes. Deferred taxation is calculated on an un-discounted basis at the tax rates which are expected to apply in the periods when the timing differences will reverse.


Leasing and hire purchase commitments

Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability.

The interest element of the rental obligations is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding.

Rentals paid under operating leases are charged to income on a straight line basis over the lease term.


Pensions

The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

Turnover policy
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.

Tangible assets depreciation policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

Fixtures and fittings 25% reducing balance

2Tangible fixed assets
£
Cost
At 1 June 2013 10,366
Additions 2,844
Disposals -
Revaluations -
Transfers -
At 31 May 2014 13,210
Depreciation
At 1 June 2013 8,820
Charge for the year 1,097
On disposals -
At 31 May 2014 9,917
Net book values
At 31 May 2014 3,293
At 31 May 2013 1,546
3Called Up Share Capital
Allotted, called up and fully paid:
2014
£
2013
£
100 Ordinary shares of £1 each 100 100