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REGISTERED NUMBER: NI602899 (Northern Ireland)












Continu Ltd

Unaudited Financial Statements

for the Year Ended 31 March 2023






Continu Ltd (Registered number: NI602899)

Contents of the Financial Statements
for the year ended 31 March 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Continu Ltd

Company Information
for the year ended 31 March 2023







DIRECTORS: Mr T J Hall
Mrs A McFadden



REGISTERED OFFICE: 184 Rashee Road
Ballyclare
Co. Antrim
BT39 9JB



REGISTERED NUMBER: NI602899 (Northern Ireland)



ACCOUNTANTS: Agnew Mitchell & Cairns
184 Rashee Road
Ballyclare
Co. Antrim
BT39 9JB



BANKERS: Ulster Bank
37 High Street
Carrickfergus
Antrim
BT38 7AN

Continu Ltd (Registered number: NI602899)

Statement of Financial Position
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 42,643 31,438
42,643 31,438

CURRENT ASSETS
Stocks 72,829 42,512
Debtors 6 622,359 410,603
Prepayments and accrued income 2,315 -
Cash at bank 209,352 403,348
906,855 856,463
CREDITORS
Amounts falling due within one year 7 448,323 360,579
NET CURRENT ASSETS 458,532 495,884
TOTAL ASSETS LESS CURRENT
LIABILITIES

501,175

527,322

CREDITORS
Amounts falling due after more than one
year

8

(4,616

)

(11,988

)

PROVISIONS FOR LIABILITIES (7,899 ) (6,288 )

ACCRUALS AND DEFERRED INCOME (176 ) (227 )
NET ASSETS 488,484 508,819

CAPITAL AND RESERVES
Called up share capital 11 2 2
Retained earnings 488,482 508,817
SHAREHOLDERS' FUNDS 488,484 508,819

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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.

Continu Ltd (Registered number: NI602899)

Statement of Financial Position - continued
31 March 2023


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 21 September 2023 and were signed on its behalf by:




Mr T J Hall - Director



Mrs A McFadden - Director


Continu Ltd (Registered number: NI602899)

Notes to the Financial Statements
for the year ended 31 March 2023


1. STATUTORY INFORMATION

Continu Ltd is a private company, limited by shares , registered in Northern Ireland. 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 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of nil years.

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

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.


Continu Ltd (Registered number: NI602899)

Notes to the Financial Statements - continued
for the year ended 31 March 2023


2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss, over the relevant period using the effective interest rate method. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 April 2022
and 31 March 2023 200,000 14,905 214,905
AMORTISATION
At 1 April 2022
and 31 March 2023 200,000 14,905 214,905
NET BOOK VALUE
At 31 March 2023 - - -
At 31 March 2022 - - -

Continu Ltd (Registered number: NI602899)

Notes to the Financial Statements - continued
for the year ended 31 March 2023


5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2022 - 152,913 152,913
Additions 3,500 21,218 24,718
At 31 March 2023 3,500 174,131 177,631
DEPRECIATION
At 1 April 2022 - 121,475 121,475
Charge for year 350 13,163 13,513
At 31 March 2023 350 134,638 134,988
NET BOOK VALUE
At 31 March 2023 3,150 39,493 42,643
At 31 March 2022 - 31,438 31,438

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 400,896 344,110
Other debtors 221,463 66,493
622,359 410,603

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts (see note 9) 7,372 7,300
Trade creditors 233,731 197,881
Taxation and social security 28,649 96,718
Other creditors 178,571 58,680
448,323 360,579

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts (see note 9) 4,616 11,988

Continu Ltd (Registered number: NI602899)

Notes to the Financial Statements - continued
for the year ended 31 March 2023


9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 7,372 7,300
Between one and five years 4,616 11,988
11,988 19,288

Non-cancellable operating leases
2023 2022
£    £   
Within one year 26,813 4,316
Between one and five years 162,177 6,834
188,990 11,150

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 11,988 19,288

The hire purchase creditor is secured on the assets to which they relate.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
2 Ordinary 1 2 2

12. RELATED PARTY DISCLOSURES

Continu Ltd paid for expenses for a related party under common control during the year ended 31 March 2023. The amount due to the Company at the year end was £105,458.