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No description of principal activity
2023-04-01
Sage Accounts Production Advanced 2023 - FRS102_2023
xbrli:pure
xbrli:shares
iso4217:GBP
00887798
2023-04-01
2024-03-31
00887798
2024-03-31
00887798
2023-03-31
00887798
2022-04-01
2023-03-31
00887798
2023-03-31
00887798
2022-03-31
00887798
core:PlantMachinery
2023-04-01
2024-03-31
00887798
core:FurnitureFittings
2023-04-01
2024-03-31
00887798
bus:Director9
2023-04-01
2024-03-31
00887798
core:PlantMachinery
2023-03-31
00887798
core:FurnitureFittings
2023-03-31
00887798
core:PlantMachinery
2024-03-31
00887798
core:FurnitureFittings
2024-03-31
00887798
core:WithinOneYear
2024-03-31
00887798
core:WithinOneYear
2023-03-31
00887798
core:AfterOneYear
2024-03-31
00887798
core:AfterOneYear
2023-03-31
00887798
core:ShareCapital
2024-03-31
00887798
core:ShareCapital
2023-03-31
00887798
core:RetainedEarningsAccumulatedLosses
2024-03-31
00887798
core:RetainedEarningsAccumulatedLosses
2023-03-31
00887798
core:PlantMachinery
2023-03-31
00887798
core:FurnitureFittings
2023-03-31
00887798
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2023-04-01
2024-03-31
00887798
bus:SmallEntities
2023-04-01
2024-03-31
00887798
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2023-04-01
2024-03-31
00887798
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2023-04-01
2024-03-31
00887798
bus:PrivateLimitedCompanyLtd
2023-04-01
2024-03-31
00887798
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2023-04-01
2024-03-31
00887798
core:ComputerEquipment
2023-04-01
2024-03-31
00887798
core:ComputerEquipment
2024-03-31
00887798
core:ComputerEquipment
2023-03-31
00887798
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2023-04-01
2024-03-31
00887798
core:AllAssociates
2023-04-01
2024-03-31
COMPANY REGISTRATION NUMBER:
00887798
Conjoint Export Services (Near East) Limited |
|
Filleted Unaudited Financial Statements |
|
Conjoint Export Services (Near East) Limited |
|
Statement of Financial Position |
|
31 March 2024
Fixed assets
Tangible assets |
5 |
11,466 |
14,544 |
|
|
|
|
Current assets
Stocks |
358,074 |
540,259 |
Debtors |
6 |
784,033 |
535,597 |
Cash at bank and in hand |
341,330 |
585,660 |
|
--------------- |
--------------- |
|
1,483,437 |
1,661,516 |
|
|
|
|
Creditors: amounts falling due within one year |
7 |
609,717 |
789,613 |
|
--------------- |
--------------- |
Net current assets |
873,720 |
871,903 |
|
----------- |
----------- |
Total assets less current liabilities |
885,186 |
886,447 |
|
|
|
|
Creditors: amounts falling due after more than one year |
8 |
260,000 |
260,000 |
|
|
|
|
Provisions |
2,175 |
2,763 |
|
----------- |
----------- |
Net assets |
623,011 |
623,684 |
|
----------- |
----------- |
|
|
|
Capital and reserves
Called up share capital |
100 |
100 |
Profit and loss account |
622,911 |
623,584 |
|
----------- |
----------- |
Shareholders funds |
623,011 |
623,684 |
|
----------- |
----------- |
|
|
|
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.
Conjoint Export Services (Near East) Limited |
|
Statement of Financial Position (continued) |
|
31 March 2024
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' 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 directors acknowledge their 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
19 July 2024
, and are signed on behalf of the board by:
Company registration number:
00887798
Conjoint Export Services (Near East) Limited |
|
Notes to the Financial Statements |
|
Year ended 31 March 2024
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 2 Castle Business Village, Station Road, Hampton, Middlesex, TW12 2BX.
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 accounts have been prepared under the historical cost convention and are presented in Sterling, which is the functional currency.
Disclosure exemptions
The company has taken advantage of the disclosure exemptions available to small companies, including the exemption from preparing a cash flow statement
.
Revenue recognition
Turnover represents the amounts invoiced for sales of goods and services, inclusive of freight and packing charges and commissions receivable, and exclusive of Value Added Tax.
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.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
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.
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:
|
Plant & Machinery |
- |
25% reducing balance |
|
Fixtures and Fittings |
- |
25% reducing balance |
|
Office improvements |
- |
10% 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.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
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.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. The company's non-redeemable 10% cumulative preference shares are classified as financial liabilities as they carry a fixed right to cumulative dividends which are not at the discretion of the company.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
11
(2023:
13
).
5.
Tangible assets
|
Plant and machinery |
Fixtures and fittings |
Equipment |
Total |
|
£ |
£ |
£ |
£ |
Cost |
|
|
|
|
At 1 April 2023 and 31 March 2024 |
6,750 |
74,433 |
12,427 |
93,610 |
|
-------- |
---------- |
---------- |
---------- |
Depreciation |
|
|
|
|
At 1 April 2023 |
925 |
67,026 |
11,115 |
79,066 |
Charge for the year |
1,300 |
1,653 |
125 |
3,078 |
|
-------- |
---------- |
---------- |
---------- |
At 31 March 2024 |
2,225 |
68,679 |
11,240 |
82,144 |
|
-------- |
---------- |
---------- |
---------- |
Carrying amount |
|
|
|
|
At 31 March 2024 |
4,525 |
5,754 |
1,187 |
11,466 |
|
-------- |
---------- |
---------- |
---------- |
At 31 March 2023 |
5,825 |
7,407 |
1,312 |
14,544 |
|
-------- |
---------- |
---------- |
---------- |
|
|
|
|
|
6.
Debtors
|
2024 |
2023 |
|
£ |
£ |
Trade debtors |
721,439 |
451,195 |
Other debtors |
62,594 |
84,402 |
|
----------- |
----------- |
|
784,033 |
535,597 |
|
----------- |
----------- |
|
|
|
7.
Creditors:
amounts falling due within one year
|
2024 |
2023 |
|
£ |
£ |
Trade creditors |
473,371 |
733,832 |
Corporation tax |
1,308 |
– |
Social security and other taxes |
9,528 |
24,789 |
Other creditors |
125,510 |
30,992 |
|
----------- |
----------- |
|
609,717 |
789,613 |
|
----------- |
----------- |
|
|
|
8.
Creditors:
amounts falling due after more than one year
|
2024 |
2023 |
|
£ |
£ |
Other creditors |
260,000 |
260,000 |
|
----------- |
----------- |
|
|
|
Other creditors represent non-redeemable subordinated preference shares.
9.
Related party transactions
The Company occupies offices owned by one of the directors, Mr. L.B.J. Sargrove. The rent payable, which is considered to be the open market rent, amounted to £24,800 (2023 - £20,669) in the year.