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Registration number: 12399032

Inconf Limited

Filleted Unaudited Financial Statements

for the Year Ended 31 January 2024

 

Inconf Limited
(Registration number: 12399032)

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Inconf Limited
(Registration number: 12399032)

Company Information

Directors

Mr A Holder

Mr M Swan

Mr D D Cave

Mr G P Kendall

Mr J Shepheard-Walwyn

Mr E King

Registered office

28 Alexandra Terrace
Exmouth
Devon
EX8 1BD

Accountants

Thompson Jenner LLP
Chartered Accountants
28 Alexandra Terrace
Exmouth
Devon
EX8 1BD

 

Inconf Limited
(Registration number: 12399032)

Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

119

136

Tangible assets

5

52,567

62,755

 

52,686

62,891

Current assets

 

Debtors

6

355,881

362,170

Cash at bank and in hand

 

96,504

60,924

 

452,385

423,094

Creditors: Amounts falling due within one year

7

(149,496)

(199,235)

Net current assets

 

302,889

223,859

Total assets less current liabilities

 

355,575

286,750

Provisions for liabilities

(13,142)

(16,309)

Net assets

 

342,433

270,441

Capital and reserves

 

Called up share capital

10

10

Profit and loss account

342,423

270,431

Total equity

 

342,433

270,441

For the financial year ending 31 January 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

Inconf Limited
(Registration number: 12399032)

Balance Sheet as at 31 January 2024

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 30 October 2024 and signed on its behalf by:
 

.........................................
Mr M Swan
Director

.........................................
Mr E King
Director

 

Inconf Limited
(Registration number: 12399032)

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
28 Alexandra Terrace
Exmouth
Devon
EX8 1BD
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

Inconf Limited
(Registration number: 12399032)

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and equipment

33% straight line

Furniture, fittings and equipment

20% straight line

Intangible assets

Separately acquired trademarks and licences are shown at historical cost.

Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.

Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Trade mark

10% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Inconf Limited
(Registration number: 12399032)

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 11 (2023 - 15).

 

Inconf Limited
(Registration number: 12399032)

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

4

Intangible assets

Trademarks, patents and licenses
 £

Total
£

Cost or valuation

At 1 February 2023

170

170

At 31 January 2024

170

170

Amortisation

At 1 February 2023

34

34

Amortisation charge

17

17

At 31 January 2024

51

51

Carrying amount

At 31 January 2024

119

119

At 31 January 2023

136

136

5

Tangible assets

Furniture, fittings and equipment
 £

Plant and equipment
£

Total
£

Cost or valuation

At 1 February 2023

10,312

194,546

204,858

Additions

-

55,780

55,780

Disposals

-

(2,025)

(2,025)

At 31 January 2024

10,312

248,301

258,613

Depreciation

At 1 February 2023

3,931

138,172

142,103

Charge for the year

2,062

62,556

64,618

Eliminated on disposal

-

(675)

(675)

At 31 January 2024

5,993

200,053

206,046

Carrying amount

At 31 January 2024

4,319

48,248

52,567

At 31 January 2023

6,381

56,374

62,755

 

Inconf Limited
(Registration number: 12399032)

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

6

Debtors

Note

2024
£

2023
£

Trade debtors

 

70,415

131,787

Amounts owed by group undertakings and undertakings in which the company has a participating interest

8

205,002

174,112

Other debtors

 

32,999

24,988

Prepayments and accrued income

 

47,465

31,283

Total current trade and other debtors

 

355,881

362,170

7

Creditors

2024
£

2023
£

Due within one year

Trade creditors

931

9,956

Taxation and social security

28,647

50,148

Other creditors

51,663

70,739

Accrued expenses

5,749

4,762

Deferred income

62,506

63,630

149,496

199,235

8

Related party transactions

Transactions with directors

2024

At 1 February 2023
£

Advances to director
£

At 31 January 2024
£

Mr J Shepheard-Walwyn

Interest free loan repayable on demand

-

6,000

6,000