The 100% shareholder of the company and sole director is Mr Stephen Parks.
This financial period was all about change for Convivio.
Previously, the company was a digital consultancy working for various UK government bodies. Given significant political changes — leading to changes in the nature of projects being commissioned and in the approaches to working — we decided right at the beginning of the period that we would no longer serve this sector.
Given our prior success, we were in a fortunate position to be able to make some bold decisions. We stopped accepting new work, and finished up existing client relationships.
Then we began a process of exploring next steps. We considered a simple change of sector focus, but in the end decided on a bigger change — completely redesigning the business from scratch. We restructured the company, and then undertook intensive research and development to prepare for our new direction.
As a result, this year saw negligible income but high costs of the restructuring and R&D. In the next financial year there will be continued focus on R&D and market entry for our new offering, but we expect the new offering to generate revenues again in year end 2023, and become a fully established business once more in year end 2024.