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REGISTERED NUMBER: 07475187 (England and Wales)















Financial Statements for the Year Ended 31 December 2023

for

Cg Conex Limited

Cg Conex Limited (Registered number: 07475187)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Balance Sheet 1

Notes to the Financial Statements 3


Cg Conex Limited (Registered number: 07475187)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £ £
Fixed assets
Tangible assets 4 7,354 11,652

Current assets
Debtors 5 848,973 1,032,166
Cash at bank and in hand 690,152 395,425
1,539,125 1,427,591
Creditors
Amounts falling due within one year 6 (790,187 ) (730,288 )
Net current assets 748,938 697,303
Total assets less current liabilities 756,292 708,955

Creditors
Amounts falling due after more than
one year

7

(29,590

)

(40,239

)

Provisions for liabilities 9 (6,317 ) (6,317 )
Net assets 720,385 662,399

Capital and reserves
Called up share capital 10 1,000 1,000
Share premium 11 49,520 49,520
Retained earnings 11 669,865 611,879
Shareholders' funds 720,385 662,399

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

Cg Conex Limited (Registered number: 07475187)

Balance Sheet - continued
31 December 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 25 April 2024 and were signed on its behalf by:




Dong Hyun Lee - Director



Narender Dev - Director


Cg Conex Limited (Registered number: 07475187)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. Statutory information

Cg Conex Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 07475187

Registered office: Falcon House
257 Burlington Road
New Malden
KT3 4NE

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.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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.

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.

Cg Conex Limited (Registered number: 07475187)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

3. Employees and directors

The average number of employees during the year was 22 (2022 - 38 ) .

4. Tangible fixed assets
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£ £ £ £ £
Cost
At 1 January 2023
and 31 December
2023

15,679

18,255

31,675

47,995

113,604
Depreciation
At 1 January 2023 15,678 18,073 25,355 42,846 101,952
Charge for year - 46 1,580 2,672 4,298
At 31 December 2023 15,678 18,119 26,935 45,518 106,250
Net book value
At 31 December 2023 1 136 4,740 2,477 7,354
At 31 December 2022 1 182 6,320 5,149 11,652

5. Debtors: amounts falling due within one year
31.12.23 31.12.22
£ £
Trade debtors 770,402 970,872
Other debtors 41,089 31,014
Long term contracts 29,284 33,394
Bad debt provision (25,758 ) (25,758 )
VAT 33,956 22,644
848,973 1,032,166

6. Creditors: amounts falling due within one year
31.12.23 31.12.22
£ £
Trade creditors 684,140 725,497
Corporation tax 20,426 -
Other creditors 84,999 -
Other creditors 622 4,791
790,187 730,288

Cg Conex Limited (Registered number: 07475187)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

7. Creditors: amounts falling due after more than one year
31.12.23 31.12.22
£ £
Bank loans (see note 8) 29,590 40,239

8. Loans

An analysis of the maturity of loans is given below:

31.12.23 31.12.22
£ £
Amounts falling due between one and two years:
Bank loans > 1 year 29,590 40,239

9. Provisions for liabilities
31.12.23 31.12.22
£ £
Deferred tax
Other timing differences 6,317 6,317

Deferred tax
£
Balance at 1 January 2023 6,317
Balance at 31 December 2023 6,317

10. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £ £
520 Ordinary Share £1 1,000 1,000

11. Reserves
Retained Share
earnings premium Totals
£ £ £

At 1 January 2023 611,879 49,520 661,399
Profit for the year 57,986 57,986
At 31 December 2023 669,865 49,520 719,385