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Registered Number: 12703009
England and Wales

 

 

 


Abridged Accounts

for the year ended 30 June 2023

for

CONOVO LTD

 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Intangible fixed assets 3 7,000    8,000 
Tangible fixed assets 4 15,869    16,937 
22,869    24,937 
Current assets      
Debtors 5,428    25,735 
Investments 33,338    33,338 
Cash at bank and in hand 898    1,162 
39,664    60,235 
Creditors: amount falling due within one year (34,665)   (60,231)
Net current assets 4,999    4 
 
Total assets less current liabilities 27,868    24,941 
Net assets 27,868    24,941 
 

Capital and reserves
     
Called up share capital 1    1 
Profit and loss account 27,867    24,940 
Shareholder's funds 27,868    24,941 
 


For the year ended 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 29 March 2024 and were signed by:


-------------------------------
Muhammad Aqeel Raza
Director
1
General Information
CONOVO LTD is a private company, limited by shares, registered in England and Wales, registration number 12703009, registration address 268 Bath Road, Slough, SL1 4DX.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Research and development expenditure
Research and development expenditure is charged to the income statement in the period in which it is incurred.
Website cost
Planning and operating costs for the company's website are charged to the income statement as incurred.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Website development costs
Website development costs of are capitalised once a detailed program design has been established and are amortised on a straight line basis over 10 years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Computer Equipment 10% Straight Line
Fixed asset investments
Fixed asset investments are stated at cost less provision for any permanent diminution in value.
Current asset investments
Current asset investments are stated at the lower of cost and net realisable value.
2.

Average number of employees

Average number of employees during the year was 1 (2022 : 0).
3.

Intangible fixed assets

Cost Website Cost   Total
  £   £
At 30 June 2022 10,000    10,000 
Additions  
Disposals  
At 30 June 2023 10,000    10,000 
Amortisation
At 30 June 2022 2,000    2,000 
Charge for year 1,000    1,000 
On disposals  
At 30 June 2023 3,000    3,000 
Net book values
At 30 June 2023 7,000    7,000 
At 29 June 2022 8,000    8,000 


4.

Tangible fixed assets

Cost or valuation Computer Equipment   Total
  £   £
At 30 June 2022 19,063    19,063 
Additions 932    932 
Disposals  
At 30 June 2023 19,995    19,995 
Depreciation
At 30 June 2022 2,126    2,126 
Charge for year 2,000    2,000 
On disposals  
At 30 June 2023 4,126    4,126 
Net book values
Closing balance as at 30 June 2023 15,869    15,869 
Opening balance as at 30 June 2022 16,937    16,937 


2