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Company Registration number: 05791561

Govivo Limited

Unaudited Financial Statements

for the Year Ended 30 June 2024

 

Govivo Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 5

 

Govivo Limited

(Registration number: 05791561)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Current assets

 

Cash at bank and in hand

 

21,507

11,288

Creditors: Amounts falling due within one year

5

(80,013)

(69,576)

Net liabilities

 

(58,506)

(58,288)

Capital and reserves

 

Called up share capital

6

100

100

Retained earnings

(58,606)

(58,388)

Shareholders' deficit

 

(58,506)

(58,288)

For the financial year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 12 December 2024
 

.........................................
Mr T J Hart
Director

   
     
 

Govivo Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

1

General information

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

The address of its registered office is:
Calon Point No 1
Fountain Lane
St Mellons
Cardiff
CF3 0FE

These financial statements were authorised for issue by the director on 12 December 2024.

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.

Going concern

The financial statements show the company made a loss of £218 (2023 - £30,957) during the year and had net liabilities at the balance sheet date of £58,606 (2023 - £58,288). The director has therefore has to consider the appropriateness of the going concern basis.

The company has been able to finance its operations largely because of support from related companies. Were this support not available the company may not to be able to continue trading. The director is satisfied that with this continuing support the company will be able to meet its liabilities as they fall due.

On the basis of the above the director considers it appropriate to prepare the financial statements on a going concern basis.

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.

 

Govivo Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

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.

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

4

Debtors

Current

2024
£

2023
£

 

-

-

 

Govivo Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

5

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

1,498

10,418

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

7

9,900

9,900

Taxation and social security

 

6,669

3,555

Accruals and deferred income

 

1,250

1,000

Other creditors

 

60,696

44,703

 

80,013

69,576

6

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

         

7

Related party transactions

The company has taken advantage of the exemption provided by section 33 of FRS 102 from the requirement to disclose transactions between wholly owned members of the same group.

Loans from related parties

2024

Other related parties
£

Total
£

At start of period

44,703

44,703

Advanced

15,993

15,993

At end of period

60,696

60,696

2023

Other related parties
£

Total
£

At start of period

20,000

20,000

Advanced

24,703

24,703

At end of period

44,703

44,703

 

Govivo Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Terms of loans from related parties

This balance was interest free and unsecured.

8

Parent and ultimate parent undertaking

The company's immediate parent is Salisyon Holdings Ltd, incorporated in England and Wales.

 The ultimate controlling party is Mr T J Hart.