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COMPANY REGISTRATION NUMBER: 05308243
Conferences UK Limited
Filleted Unaudited Financial Statements
30 November 2023
Conferences UK Limited
Financial Statements
Year ended 30th November 2023
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
Conferences UK Limited
Statement of Financial Position
30 November 2023
2023
2022
Note
£
£
£
£
Fixed assets
Intangible assets
5
24,711
24,711
Tangible assets
6
20,162
20,824
--------
--------
44,873
45,535
Current assets
Debtors
7
233,870
192,296
Cash at bank and in hand
30,917
9,923
---------
---------
264,787
202,219
Creditors: amounts falling due within one year
8
186,342
188,208
---------
---------
Net current assets
78,445
14,011
---------
--------
Total assets less current liabilities
123,318
59,546
Creditors: amounts falling due after more than one year
9
71,961
89,916
Provisions
Taxation including deferred tax
5,603
---------
--------
Net assets/(liabilities)
51,357
( 35,973)
---------
--------
Capital and reserves
Called up share capital
90
90
Share premium account
29,980
29,980
Capital redemption reserve
10
10
Profit and loss account
21,277
( 66,053)
--------
--------
Shareholders funds/(deficit)
51,357
( 35,973)
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
Conferences UK Limited
Statement of Financial Position (continued)
30 November 2023
For the year ending 30th November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 20 August 2024 , and are signed on behalf of the board by:
Mr S. J. Thompson
Director
Company registration number: 05308243
Conferences UK Limited
Notes to the Financial Statements
Year ended 30th November 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Jactin House, Hood Street, Manchester, M4 6WX.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Property Improvements
-
15% reducing balance
Equipment
-
15% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
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. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 5 (2022: 4 ).
5. Intangible assets
Development costs
£
Cost
At 1st December 2022 and 30th November 2023
24,711
--------
Amortisation
At 1st December 2022 and 30th November 2023
--------
Carrying amount
At 30th November 2023
24,711
--------
At 30th November 2022
24,711
--------
6. Tangible assets
Land and buildings
Equipment
Total
£
£
£
Cost
At 1st December 2022
2,840
130,487
133,327
Additions
2,896
2,896
-------
---------
---------
At 30th November 2023
2,840
133,383
136,223
-------
---------
---------
Depreciation
At 1st December 2022
2,544
109,959
112,503
Charge for the year
44
3,514
3,558
-------
---------
---------
At 30th November 2023
2,588
113,473
116,061
-------
---------
---------
Carrying amount
At 30th November 2023
252
19,910
20,162
-------
---------
---------
At 30th November 2022
296
20,528
20,824
-------
---------
---------
7. Debtors
2023
2022
£
£
Trade debtors
123,484
131,118
Other debtors
110,386
61,178
---------
---------
233,870
192,296
---------
---------
8. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
17,956
20,156
Trade creditors
142,714
138,860
Social security and other taxes
11,613
5,516
Other creditors
14,059
23,676
---------
---------
186,342
188,208
---------
---------
9. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
71,961
89,916
--------
--------
10. Related party transactions
The company was under the control of S.J. Thompson throughout the current and previous year. S.J. Thompson is the managing director. No transactions with related parties were undertaken such as are required to be disclosed under FRS 102 1a.
11. Controlling party
The company is a wholly owned subsidiary of Accommodation for Students (Holdings) Limited, a company incorporated in England and Wales.