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REGISTERED NUMBER: 09568551 (England and Wales)















Civo Limited

Unaudited Financial Statements For The Year Ended 30 April 2023






Civo Limited (Registered number: 09568551)






Contents of the Financial Statements
For The Year Ended 30 April 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Civo Limited

Company Information
For The Year Ended 30 April 2023







DIRECTORS: Mr M A Boost
Mr G P Greasby
Mr D S Majrekar
Mrs S Ramsel





REGISTERED OFFICE: Unit H
Gateway 1000
Whittle Way
Stevenage
Hertfordshire
SG1 2FP





REGISTERED NUMBER: 09568551 (England and Wales)

Civo Limited (Registered number: 09568551)

Balance Sheet
30 April 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 4 7,848 1,895
Tangible assets 5 676,508 654,529
684,356 656,424

CURRENT ASSETS
Debtors 6 763,117 433,918
Cash at bank 81,732 841,281
844,849 1,275,199
CREDITORS
Amounts falling due within one year 7 (784,618 ) (360,841 )
NET CURRENT ASSETS 60,231 914,358
TOTAL ASSETS LESS CURRENT
LIABILITIES

744,587

1,570,782

CREDITORS
Amounts falling due after more than one
year

8

(4,846,334

)

(3,246,334

)
NET LIABILITIES (4,101,747 ) (1,675,552 )

CAPITAL AND RESERVES
Called up share capital 125 124
Share premium 3,123,565 2,930,716
Retained earnings (7,225,437 ) (4,606,392 )
SHAREHOLDERS' FUNDS (4,101,747 ) (1,675,552 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

Civo Limited (Registered number: 09568551)

Balance Sheet - continued
30 April 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 17 January 2024 and were signed on its behalf by:





Mr G P Greasby - Director


Civo Limited (Registered number: 09568551)

Notes to the Financial Statements
For The Year Ended 30 April 2023

1. STATUTORY INFORMATION

Civo 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 principal place of business is Unit H/J/K Arlington Business Park, Whittle Way, Stevenage, Herts,

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.

Related party exemption
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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Patents and licences are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets
Depreciation rates:
Fixtures and fittings - 10% SL
Computer equipment - 20% SL

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Civo Limited (Registered number: 09568551)

Notes to the Financial Statements - continued
For The Year Ended 30 April 2023

2. ACCOUNTING POLICIES - continued

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 holds basic financial instruments as defined in FRS102. The financial assets and financial liabilities of the company and their measurement basis are as follows:

Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments. Cash at bank is classified as a basic financial instrument and is measured at amortised cost.

Financial liabilities - trade creditors, accruals and other creditors are financial instruments, and are measured at amortised cost. Taxation and social security are not included in the financial instruments disclosure definition.

Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2022 - 13 ) .

4. INTANGIBLE FIXED ASSETS
Patents
and
licences
£   
COST
At 1 May 2022 18,460
Additions 7,504
At 30 April 2023 25,964
AMORTISATION
At 1 May 2022 16,565
Amortisation for year 1,551
At 30 April 2023 18,116
NET BOOK VALUE
At 30 April 2023 7,848
At 30 April 2022 1,895

Civo Limited (Registered number: 09568551)

Notes to the Financial Statements - continued
For The Year Ended 30 April 2023

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 May 2022 2,850 1,210,104 1,212,954
Additions - 298,709 298,709
At 30 April 2023 2,850 1,508,813 1,511,663
DEPRECIATION
At 1 May 2022 1,567 556,858 558,425
Charge for year 260 276,470 276,730
At 30 April 2023 1,827 833,328 835,155
NET BOOK VALUE
At 30 April 2023 1,023 675,485 676,508
At 30 April 2022 1,283 653,246 654,529

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 83,279 27,122
Other debtors 190,612 334,103
Directors' current accounts 100 100
Corporation Tax recoverable 306,322 -
VAT recoverable 28,503 22,153
Prepayments and accrued income 154,301 50,440
763,117 433,918

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 122,282 74,025
Social security and other taxes 27,705 19,964
Other creditors 99 -
Accruals and deferred income 634,532 266,852
784,618 360,841

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Other loans - 1-2 years 4,846,334 3,246,334

Civo Limited (Registered number: 09568551)

Notes to the Financial Statements - continued
For The Year Ended 30 April 2023

9. RELATED PARTY DISCLOSURES

During the year the company did not pay dividends to the shareholders.

There is a loan outstanding to Viva Investment Group Ltd of £4,846,334 (2022: £3,246,334), a company under common control.