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REGISTERED NUMBER: 08301909















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

CONVIVA LTD

CONVIVA LTD (REGISTERED NUMBER: 08301909)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


CONVIVA LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: G S Ayers
H Zhang





REGISTERED OFFICE: Fourth Floor St James House
St James' Square
Cheltenham
GL50 3PR





REGISTERED NUMBER: 08301909





AUDITORS: Byrd Link Audit & Accountancy Services Limited
Honeybourne Place
Jessop Avenue
Cheltenham
Gloucestershire
GL50 3SH

CONVIVA LTD (REGISTERED NUMBER: 08301909)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2023

2023 2022
Notes £ £
FIXED ASSETS
Tangible assets 4 38,623 16,540

CURRENT ASSETS
Debtors 5 1,552,733 1,329,074
Cash at bank 175,418 177,593
1,728,151 1,506,667
CREDITORS
Amounts falling due within one year 6 (372,185 ) (428,195 )
NET CURRENT ASSETS 1,355,966 1,078,472
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,394,589

1,095,012

PROVISIONS FOR LIABILITIES (6,189 ) -
NET ASSETS 1,388,400 1,095,012

CAPITAL AND RESERVES
Called up share capital 100 100
Other reserves 272,427 220,779
Retained earnings 1,115,873 874,133
1,388,400 1,095,012

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 16 July 2024 and were signed on its behalf by:





G S Ayers - Director


CONVIVA LTD (REGISTERED NUMBER: 08301909)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

Conviva Ltd is a private company limited by shares, incorporated and domiciled in the United Kingdom. The address of the registered office is Fourth Floor, St James House, St James Square, Cheltenham, England, GL50 3PR, with its principal place of business at Third Floor, 15-19 Kirby Street, London, EC1N 8TE.

The Company is registered at Companies House England and Wales. Its registered number is 08301909.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

All amounts have been rounded to the nearest £1 pound sterling, unless otherwise indicated.

Turnover
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

The Company is contracted by its parent company, Conviva, Inc. to deliver sales and marketing services under an intercompany agreement. The Company is remunerated by its parent for these services.

Going Concern
The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for a period of at least twelve months from the date of signing this report.

The company relied on the continued support from its parent company, Conviva, Inc. which has confirmed that it will continue to provide this for the foreseeable future. On that basis, the directors continue to adopt the going concern basis of accounting in preparing the annual financial statements.

CONVIVA LTD (REGISTERED NUMBER: 08301909)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

The estimated useful lives range as follows:

Fixtures and fittings - 5 years
Office equipment - at varying rates

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Current and deferred taxation
The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but no reversed by the reporting date, except that:

- The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

- Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

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.

CONVIVA LTD (REGISTERED NUMBER: 08301909)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 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.

CONVIVA LTD (REGISTERED NUMBER: 08301909)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued

Debtors
Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

Creditors
Short term creditors are measured at the transaction price.

Holiday pay accrual
A liability is recognised to the extent of any unused holiday pay entitlement which is accrued at the reporting date and carried forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the reporting date.

Provisions for liabilities
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the reporting date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the Statement of financial position.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operational result.

Financial instruments
The Company only enters into basic financial instrument 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 ordinary shares.

Basic financial assets and liabilities that are payable or receivable within one year, typically trade payables and receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration, expected to be paid or received.

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.

CONVIVA LTD (REGISTERED NUMBER: 08301909)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued

Share based payments expense
Where share options are awarded to employees, the fair value of the options at the date of grant is charged to profit or loss over the vesting period. Non-market vesting conditions are taken into account by adjusting the number of equity instruments expected to vest at each reporting date so that, ultimately, the cumulative amount recognised over the vesting period is based on the number of options that eventually vest. Market vesting conditions are factored into the fair value of the options granted. The cumulative expense is not adjusted for failure to achieve a market vesting condition.

The fair value of the award also takes into account non-vesting conditions. These are either factors beyond the control of either party (such as a target based on an index) or factors which are within the control of one or other of the parties (such as the Company keeping the scheme open or the employee maintaining any contributions required by the scheme).

Where the terms and conditions of options are modified before they vest, the increase in the fair value of the options, measured immediately before and after the modification, is also charged to profit or loss over the remaining vesting period.

Where equity instruments are granted to persons other than employees, profit or loss is charged with fair value of goods and services received.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 24 (2022 - 29 ) .

CONVIVA LTD (REGISTERED NUMBER: 08301909)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


4. TANGIBLE FIXED ASSETS
Fixtures
and Office
fittings equipment Totals
£ £ £
COST
At 1 January 2023 8,067 24,802 32,869
Additions - 30,015 30,015
At 31 December 2023 8,067 54,817 62,884
DEPRECIATION
At 1 January 2023 6,881 9,448 16,329
Charge for year 1,095 6,837 7,932
At 31 December 2023 7,976 16,285 24,261
NET BOOK VALUE
At 31 December 2023 91 38,532 38,623
At 31 December 2022 1,186 15,354 16,540

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Amounts owed by group undertakings 1,328,854 1,091,821
Other debtors 117,673 116,029
VAT 18,891 37,541
Prepayments 87,315 83,683
1,552,733 1,329,074

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade creditors 124,614 127,694
Corporation tax 13,979 37,523
Social security and other taxes 57,789 27,551
Accruals and deferred income 175,803 235,427
372,185 428,195

CONVIVA LTD (REGISTERED NUMBER: 08301909)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£ £
Within one year 185,498 185,498
Between one and five years 510,120 695,618
695,618 881,116

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Russel Byrd FCA (Senior Statutory Auditor)
for and on behalf of Byrd Link Audit & Accountancy Services Limited

9. PENSION COMMITMENTS

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £75,302 (2022: £71,667). Contributions totalling £13,868 (2022: £17,496) were payable to the fund at the reporting date and are included in creditors.

10. RELATED PARTY DISCLOSURES

The Company has taken advantage of the exemption available under The Small Companies section 33.1A of FRS102 and Groups Regulations 2008, Schedule 1 paragraph 66(4) from disclosing details of any transactions entered into between two or more members of a group where they are wholly owned members of this group.

There were no other related party transactions during the year (2022: none).

11. ULTIMATE CONTROLLING PARTY

The Company is a wholly owned subsidiary of Conviva, Inc., a company incorporated in the United States of America.

The smallest group in which the results of the Company are consolidated is that headed by Conviva, Inc. The registered office of Conviva, Inc. is 989 E Hillsdale Blvd, Ste.400, Foster City, California 94404, United States of America.