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Company Registration No. 08220488 (England and Wales)
Conversion-UK Ltd Unaudited accounts for the year ended 30 September 2021
Conversion-UK Ltd Unaudited accounts Contents
Page
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Conversion-UK Ltd Company Information for the year ended 30 September 2021
Director
Mark Nixon
Company Number
08220488 (England and Wales)
Registered Office
Congress House 14 Lyon Road Harrow Middlesex HA1 2EN
Accountants
Balmoral Consultancy Services Limited Congress House 14 Lyon Road Harrow Middlesex HA1 2EN
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Conversion-UK Ltd Statement of financial position as at 30 September 2021
2021 
2020 
Notes
£ 
£ 
Fixed assets
Tangible assets
9,011 
12,015 
Current assets
Inventories
45,000 
45,000 
Debtors
33,443 
314,357 
Cash at bank and in hand
4,021 
23,039 
82,464 
382,396 
Creditors: amounts falling due within one year
(41,043)
(328,769)
Net current assets
41,421 
53,627 
Net assets
50,432 
65,642 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
50,332 
65,542 
Shareholders' funds
50,432 
65,642 
For the year ending 30 September 2021 the company was entitled to exemption from audit 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 15 August 2022 and were signed on its behalf by
Mark Nixon Director Company Registration No. 08220488
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Conversion-UK Ltd Notes to the Accounts for the year ended 30 September 2021
1
Statutory information
Conversion-UK Ltd is a private company, limited by shares, registered in England and Wales, registration number 08220488. The registered office is Congress House, 14 Lyon Road, Harrow, Middlesex, HA1 2EN.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006 . The following principal accounting policies have been applied:
Foreign currency translation
Functional and presentation currency The Company's functional and presentational currency is GBP. Transactions and balances Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions. At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
Revenue
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: Sale of goods Revenue from the sale of goods is recognised when all of the following conditions are satisfied: the Company has transferred the significant risks and rewards of ownership to the buyer; - the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; - the amount of revenue can be measured reliably; - it is probable that the Company will receive the consideration due under the transaction; and - the costs incurred or to be incurred in respect of the transaction can be measured reliably.
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Conversion-UK Ltd Notes to the Accounts for the year ended 30 September 2021
Taxation
Tax is recognised in the Statement of income and retained earnings, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.
Tangible fixed assets and depreciation
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis. Depreciation is provided on the following basis: The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of income and retained earnings.
Plant & machinery
25% reducing balance
Fixtures & fittings
25% reducing balance
Computer equipment
25% reducing balance
Stocks
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads. At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.
Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment
Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
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Conversion-UK Ltd Notes to the Accounts for the year ended 30 September 2021
4
Tangible fixed assets
Plant & machinery 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 October 2020
87,209 
977 
1,931 
90,117 
At 30 September 2021
87,209 
977 
1,931 
90,117 
Depreciation
At 1 October 2020
75,568 
855 
1,679 
78,102 
Charge for the year
2,910 
31 
63 
3,004 
At 30 September 2021
78,478 
886 
1,742 
81,106 
Net book value
At 30 September 2021
8,731 
91 
189 
9,011 
At 30 September 2020
11,641 
122 
252 
12,015 
5
Debtors: amounts falling due within one year
2021 
2020 
£ 
£ 
VAT
383 
- 
Trade debtors
60 
180,973 
Other debtors
33,000 
133,384 
33,443 
314,357 
6
Creditors: amounts falling due within one year
2021 
2020 
£ 
£ 
Bank loans and overdrafts
10,000 
10,000 
VAT
- 
114 
Trade creditors
38 
194,973 
Taxes and social security
- 
16 
Other creditors
264 
95,103 
Loans from directors
25,741 
23,563 
Accruals
5,000 
5,000 
41,043 
328,769 
7
Share capital
2021 
2020 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
8
Loans to directors
At the year end the sum of £25,741 (2020: £23,563) was due to M Nixon, the director of the company. The loan is interest free and repayable on demand.
9
Transactions with related parties
At the year end the sum of £33,000 (2020: £96,000 due to) was due from Digital Print Technologies Limited, a company under common control. The loan is interest free and repayable on demand.
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Conversion-UK Ltd Notes to the Accounts for the year ended 30 September 2021
10
Controlling party
Throughout the year under review, the company was under the control of M. Nixon by virtue of his majority shareholding.
11
Average number of employees
During the year the average number of employees was 1 (2020: 2).
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