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Convey With Me Ltd

Registered Number
07171748
(England and Wales)

Unaudited Financial Statements for the Year ended
28 February 2023

Convey With Me Ltd
Company Information
for the year from 1 March 2022 to 28 February 2023

Director

Sonja Dionne MacGregor

Registered Address

34a Bridge Street
Morpeth
NE61 1NL

Registered Number

07171748 (England and Wales)
Convey With Me Ltd
Balance Sheet as at
28 February 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets724,46325,124
24,46325,124
Current assets
Stocks924,46724,996
Debtors1029,42570,000
Cash at bank and on hand19,1531,168
73,04596,164
Prepayments and accrued income5,708-
Creditors amounts falling due within one year11(59,967)(48,323)
Net current assets (liabilities)18,78647,841
Total assets less current liabilities43,24972,965
Creditors amounts falling due after one year12(42,516)(71,686)
Provisions for liabilities13(624)(789)
Net assets109490
Capital and reserves
Called up share capital11
Profit and loss account108489
Shareholders' funds109490
The financial statements were approved and authorised for issue by the Director on 10 November 2023, and are signed on its behalf by:
Sonja Dionne MacGregor
Director
Registered Company No. 07171748
Convey With Me Ltd
Notes to the Financial Statements
for the year ended 28 February 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Principal activities
The principal activity of the company is conveyancing referrals and specialist conveyancing services.
4.Basis of measurement used in financial statements
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
5.Accounting policies
Functional and presentation currency policy
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Stocks policy
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Revenue recognition policy
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Deferred tax policy
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Employee benefits policy
Contributions to defined contribution plans are expensed in the period to which they relate.
6.Employee information

20232022
Average number of employees during the year45
7.Property, plant and equipment

Plant & machinery

Fixtures & fittings

Office Equipment

Total

££££
Cost or valuation
At 01 March 2221,1807,2466,59235,018
Additions--667667
At 28 February 2321,1807,2467,25935,685
Depreciation and impairment
At 01 March 22-4,9884,9069,894
Charge for year-3389901,328
At 28 February 23-5,3265,89611,222
Net book value
At 28 February 2321,1801,9201,36324,463
At 28 February 2221,1802,2581,68625,124
8.Directors advances, credits and guarantees

Brought forward

Amount advanced

Amount repaid

Carried forward

££££
Sonja Dionne MacGregor022,000022,000
Directors Loan
022,000022,000
There was a £22,000 interest free loan to the director outstanding at the year end.
9.Stocks

2023

2022

££
Work in progress24,46724,996
Total24,46724,996
10.Debtors

2023

2022

££
Other debtors29,42570,000
Total29,42570,000
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
11.Creditors within one year

2023

2022

££
Trade creditors / trade payables1,7061,860
Bank borrowings and overdrafts30,36317,833
Taxation and social security21,59113,832
Other creditors3071,638
Accrued liabilities and deferred income6,00013,160
Total59,96748,323
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
12.Creditors after one year

2023

2022

££
Bank borrowings and overdrafts42,51671,686
Total42,51671,686
13.Provisions for liabilities

2023

2022

££
Net deferred tax liability (asset)624789
Total624789