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REGISTERED NUMBER: 01684406 (England and Wales)









Financial Statements

for the Year Ended 31 December 2022

for

Convac Limited

Convac Limited (Registered number: 01684406)






Contents of the Financial Statements
for the Year Ended 31 December 2022




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


Convac Limited

Company Information
for the Year Ended 31 December 2022







DIRECTORS: C L Green
M G Green





SECRETARY: M G Green





REGISTERED OFFICE: Hanworth Lane Business Park
Hanworth Lane
Chertsey
KT16 9LZ





REGISTERED NUMBER: 01684406 (England and Wales)





ACCOUNTANTS: Parker Cavendish
Chartered Accountants
28 Church Road
Stanmore
Middlesex
HA7 4XR

Convac Limited (Registered number: 01684406)

Statement of Financial Position
31 December 2022

2022 2021
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Property, plant and equipment 5 2,688 3,584
2,688 3,584

CURRENT ASSETS
Inventories 30,983 41,903
Debtors 6 489,006 322,199
Cash at bank 887,452 903,723
1,407,441 1,267,825
CREDITORS
Amounts falling due within one year 7 (519,229 ) (485,050 )
NET CURRENT ASSETS 888,212 782,775
TOTAL ASSETS LESS CURRENT
LIABILITIES

890,900

786,359

PROVISIONS FOR LIABILITIES (378 ) (519 )
NET ASSETS 890,522 785,840

CAPITAL AND RESERVES
Called up share capital 40,100 40,100
Retained earnings 850,422 745,740
SHAREHOLDERS' FUNDS 890,522 785,840

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 in accordance with Section 476 of the Companies Act 2006.

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 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 Board of Directors and authorised for issue on 25 September 2023 and were signed on its behalf by:





M G Green - Director


Convac Limited (Registered number: 01684406)

Notes to the Financial Statements
for the Year Ended 31 December 2022

1. STATUTORY INFORMATION

Convac Limited is a private company, limited by shares , registered in England and Wales. 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.

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.

Turnover
Turnover represents net invoiced sale of goods, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant & machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance

Stocks
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme for its staff. Contributions payable for the year are charged to the profit and loss account.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2021 - 3 ) .

Convac Limited (Registered number: 01684406)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 January 2022
and 31 December 2022 1,482
AMORTISATION
At 1 January 2022
and 31 December 2022 1,482
NET BOOK VALUE
At 31 December 2022 -
At 31 December 2021 -

5. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Plant & and
machinery fittings Totals
£    £    £   
COST
At 1 January 2022
and 31 December 2022 128,630 17,920 146,550
DEPRECIATION
At 1 January 2022 125,046 17,920 142,966
Charge for year 896 - 896
At 31 December 2022 125,942 17,920 143,862
NET BOOK VALUE
At 31 December 2022 2,688 - 2,688
At 31 December 2021 3,584 - 3,584

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 482,266 322,199
Value added tax 6,740 -
489,006 322,199

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade creditors 48,485 14,737
Amounts owed to group undertakings 444,042 388,788
Tax 24,696 16,443
Social security & other taxes 206 206
Value added tax - 77
Accruals & deferred income 1,800 64,799
519,229 485,050

Convac Limited (Registered number: 01684406)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022

8. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.