Registered number
12518824
Contora Limited
Filleted Accounts
31 March 2024
Contora Limited
Registered number: 12518824
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 15,989 64,483
Current assets
Debtors 4 45,785 96,919
Cash at bank and in hand 1,682 49,934
47,467 146,853
Creditors: amounts falling due within one year 5 (72,707) (118,152)
Net current (liabilities)/assets (25,240) 28,701
Net (liabilities)/assets (9,251) 93,184
Capital and reserves
Called up share capital 3,000 3,000
Profit and loss account (12,251) 90,184
Shareholders' funds (9,251) 93,184
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
T Matsell
Director
Approved by the board on 15 August 2024
Contora Limited
Notes to the Accounts
for the year ended 31 March 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 3
3 Intangible fixed assets £
Software:
Cost
At 1 April 2023 132,249
Additions 31,978
At 31 March 2024 164,227
Amortisation
At 1 April 2023 67,766
Provided during the year 80,472
At 31 March 2024 148,238
Net book value
At 31 March 2024 15,989
At 31 March 2023 64,483
Software is being written off in equal annual instalments over its estimated economic life of 2 years.
4 Debtors 2024 2023
£ £
Trade debtors 750 27,133
Other debtors 45,035 69,786
45,785 96,919
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 70,605 26,089
Taxation and social security costs - 25,078
Other creditors 2,102 66,985
72,707 118,152
6 Other information
Contora Limited is a private company limited by shares and incorporated in England. Its registered office is:
Spark House
University of Lincoln
Brayford Pool, Lincoln
LN6 7TS
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