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COMPANY REGISTRATION NUMBER: 13566046
Conet Warrington Ltd
Filleted Unaudited Financial Statements
31 December 2023
Conet Warrington Ltd
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
Current assets
Debtors
5
57,203
80,557
Cash at bank and in hand
2,438
257
--------
--------
59,641
80,814
Creditors: amounts falling due within one year
6
120,749
146,204
---------
---------
Net current liabilities
61,108
65,390
--------
--------
Total assets less current liabilities
( 61,108)
( 65,390)
--------
--------
Net liabilities
( 61,108)
( 65,390)
--------
--------
Capital and reserves
Called up share capital
7
1
1
Profit and loss account
( 61,109)
( 65,391)
--------
--------
Shareholders deficit
( 61,108)
( 65,390)
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 31 December 2023 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 financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 27 February 2025 , and are signed on behalf of the board by:
Mr F Boussen
Director
Company registration number: 13566046
Conet Warrington Ltd
Notes to the Financial Statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit G22 The Innovation Centre, Keckwick Lane, Sci-Tech, Daresbury, Warrington, WA4 4FS, England.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The company has net liabilities at 31 December 2023 however the financial statements have been prepared on a going concern basis due to the continued support of the parent company Conet BV, who hold 100% of the shares in the company. The accounts do not include the adjustments that would be necessary if the company was unable to continue as a going concern.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method .
Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2022: 1 ).
5. Debtors
2023
2022
£
£
Trade debtors
8,274
77,778
Other debtors
48,929
2,779
--------
--------
57,203
80,557
--------
--------
6. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
43,194
8,247
Amounts owed to group undertakings
70,553
113,758
Accruals and deferred income
1,500
783
Social security and other taxes
2,648
21,637
Holiday Pay reserve
2,566
1,779
Other creditors
288
---------
---------
120,749
146,204
---------
---------
The amounts owed to Group undertakings concerns a current account relationship with Conet Group B.V. The account is unsecured, interest free and repayable on demand.
7. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary shares of £ 1 each
1
1
1
1
----
----
----
----
8. Controlling party
The company is a 100% subsidiary of Conet Group B.V., a company incorporated in the Netherlands which is the Ultimate Controlling party.