IRIS Accounts Production v23.4.0.336 08694088 director 1.10.22 30.9.23 30.9.23 0 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh086940882022-09-30086940882023-09-30086940882022-10-012023-09-30086940882021-09-30086940882021-10-012022-09-30086940882022-09-3008694088ns15:EnglandWales2022-10-012023-09-3008694088ns14:PoundSterling2022-10-012023-09-3008694088ns10:Director12022-10-012023-09-3008694088ns10:PrivateLimitedCompanyLtd2022-10-012023-09-3008694088ns10:SmallEntities2022-10-012023-09-3008694088ns10:AuditExemptWithAccountantsReport2022-10-012023-09-3008694088ns10:SmallCompaniesRegimeForDirectorsReport2022-10-012023-09-3008694088ns10:SmallCompaniesRegimeForAccounts2022-10-012023-09-3008694088ns10:FullAccounts2022-10-012023-09-3008694088ns10:RegisteredOffice2022-10-012023-09-3008694088ns5:CurrentFinancialInstruments2023-09-3008694088ns5:CurrentFinancialInstruments2022-09-3008694088ns5:Non-currentFinancialInstruments2023-09-3008694088ns5:Non-currentFinancialInstruments2022-09-3008694088ns5:ShareCapital2023-09-3008694088ns5:ShareCapital2022-09-3008694088ns5:RetainedEarningsAccumulatedLosses2023-09-3008694088ns5:RetainedEarningsAccumulatedLosses2022-09-3008694088ns5:PlantMachinery2022-10-012023-09-3008694088ns5:PlantMachinery2022-09-3008694088ns5:PlantMachinery2023-09-3008694088ns5:PlantMachinery2022-09-3008694088ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-09-3008694088ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-09-3008694088ns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2023-09-3008694088ns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2022-09-3008694088ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-09-3008694088ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2022-09-30
REGISTERED NUMBER: 08694088 (England and Wales)




















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2023

FOR

CONVERGENCE LIVE LIMITED

CONVERGENCE LIVE LIMITED (REGISTERED NUMBER: 08694088)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Accountants' Report 5

CONVERGENCE LIVE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2023







DIRECTOR: S Squires





REGISTERED OFFICE: Harben House
Harben Parade
Finchley Road
London
NW3 6LH





REGISTERED NUMBER: 08694088 (England and Wales)





ACCOUNTANTS: KBSP Partners LLP
Chartered Accountants
Harben House
Harben Parade
Finchley Road
LONDON
NW3 6LH

CONVERGENCE LIVE LIMITED (REGISTERED NUMBER: 08694088)

BALANCE SHEET
30 SEPTEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,543 283

CURRENT ASSETS
Debtors 5 12,932 2,481
Cash at bank and in hand 7,610 32,448
20,542 34,929
CREDITORS
Amounts falling due within one year 6 14,948 15,979
NET CURRENT ASSETS 5,594 18,950
TOTAL ASSETS LESS CURRENT
LIABILITIES

7,137

19,233

CREDITORS
Amounts falling due after more than one
year

7

4,304

6,398
NET ASSETS 2,833 12,835

CAPITAL AND RESERVES
Called up share capital 10 10
Retained earnings 2,823 12,825
SHAREHOLDERS' FUNDS 2,833 12,835

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Profit & Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 9 April 2024 and were signed by:





S Squires - Director


CONVERGENCE LIVE LIMITED (REGISTERED NUMBER: 08694088)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023


1. STATUTORY INFORMATION

Convergence Live 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.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures, fittings and equipment - 25% on cost

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.

Financial instruments
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Government grants
During the Coronavirus pandemic, the company utilised the government support scheme Coronavirus Job Retention Scheme (CJRS) and Discretionary Grant Fund awarded by local authority. Income under these schemes are classified as government grants and accounted for on an accruals basis, and recognised in the profit and loss account in the period in which the associated costs for which grants are intended to compensate are incurred. The grants income are reported as "Other operating income" in the profit and loss account.

The company also obtained loan from UK government backed Bounce Back Loan Scheme (BBLS).

Cash and cash equivalents
Cash equivalents are highly liquid investments that are readily convertible to known amounts of cash with insignificant risk of change in value. Bank overdrafts, when applicable, are shown within borrowings in current liabilities.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - 1 ).

CONVERGENCE LIVE LIMITED (REGISTERED NUMBER: 08694088)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023


4. TANGIBLE FIXED ASSETS
Fixtures,
fittings
and
equipment
£   
COST
At 1 October 2022 3,919
Additions 1,700
Disposals (2,370 )
At 30 September 2023 3,249
DEPRECIATION
At 1 October 2022 3,636
Charge for year 312
Eliminated on disposal (2,242 )
At 30 September 2023 1,706
NET BOOK VALUE
At 30 September 2023 1,543
At 30 September 2022 283

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 10,230 2,441
Tax 2,158 -
Prepayments and accrued income 544 40
12,932 2,481

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 2,319 2,374
Trade creditors 126 60
Tax - 9,116
VAT 1,228 118
Directors' current accounts 9,875 2,952
Accrued expenses 1,400 1,359
14,948 15,979

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 1-2 years 2,319 2,374
Bank loans - 2-5 years 1,985 4,024
4,304 6,398

CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
CONVERGENCE LIVE LIMITED


The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Convergence Live Limited for the year ended 30 September 2023 which comprise the Profit & Loss Account, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Convergence Live Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Convergence Live Limited and state those matters that we have agreed to state to the director of Convergence Live Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Convergence Live Limited and its director for our work or for this report.

It is your duty to ensure that Convergence Live Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Convergence Live Limited. You consider that Convergence Live Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Convergence Live Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






KBSP Partners LLP
Chartered Accountants
Harben House
Harben Parade
Finchley Road
LONDON
NW3 6LH


10 April 2024