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REGISTERED NUMBER: 02359270 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

FOR

CONKER CLOUD INNOVATIONS LIMITED

CONKER CLOUD INNOVATIONS LIMITED (REGISTERED NUMBER: 02359270)

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 30 June 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


CONKER CLOUD INNOVATIONS LIMITED

COMPANY INFORMATION
for the year ended 30 June 2024







DIRECTORS: P D Burke
G A Cooke





SECRETARY: J Carter





REGISTERED OFFICE: 8 George Street
Nottingham
NG1 3BE





REGISTERED NUMBER: 02359270 (England and Wales)





ACCOUNTANTS: Magma Audit LLP
Unit 2 Charnwood Edge Business Park
Syston Road, Leicester
LE7 4UZ
Magma Audit LLP is part
Of the Dains Group

CONKER CLOUD INNOVATIONS LIMITED (REGISTERED NUMBER: 02359270)

BALANCE SHEET
30 June 2024

2024 2023
Notes £    £   
FIXED ASSETS
Intangible assets 4 135,261 113,112
Tangible assets 5 4,590 8,120
139,851 121,232

CURRENT ASSETS
Debtors 6 342,640 330,939
Cash at bank 23,574 22,121
366,214 353,060
CREDITORS
Amounts falling due within one year 7 (251,053 ) (220,249 )
NET CURRENT ASSETS 115,161 132,811
TOTAL ASSETS LESS CURRENT
LIABILITIES

255,012

254,043

PROVISIONS FOR LIABILITIES (26,295 ) (29,278 )
NET ASSETS 228,717 224,765

CAPITAL AND RESERVES
Called up share capital 185,000 185,000
Capital redemption reserve 65,000 65,000
Retained earnings (21,283 ) (25,235 )
228,717 224,765

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 March 2025 and were signed on its behalf by:




P D Burke - Director


CONKER CLOUD INNOVATIONS LIMITED (REGISTERED NUMBER: 02359270)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 30 June 2024


1. STATUTORY INFORMATION

Conker Cloud Innovations Limited is a limited company, registered in England and Wales. Its registered office address is 8 George Street, Nottingham, England, NG1 3BE and the registered number is 02359270.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The presentational currency of the financial statements is the Pound Sterling (£) and figures are rounded to the nearest £1.

Going concern
The Company is deemed to be a going concern and therefore the accounts have been prepared on the going concern basis. The Directors and related parties will pay liabilities as they fall due and fulfil negative reserves through the continued support of cash injections. On the basis of the above, the shareholders consider the Company to be a going concern for the foreseeable future.

Turnover
Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
- the amount of revenue can be measured reliably;
- it is probable that the Company will receive the consideration due under the contract;
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and
- the costs incurred and the costs to complete the contract can be measured reliably.

Intangible assets
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If reliable estimate of the useful like cannot be made, the useful life shall not exceed ten years.

Computer software is being amortised evenly over its estimated useful life of 4 years.

Tangible fixed assets
Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using either a straight line or reducing balance method, as indicated below.

Computer equipment - 33% straight line
Fixtures and fittings - 25% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

CONKER CLOUD INNOVATIONS LIMITED (REGISTERED NUMBER: 02359270)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 June 2024


2. ACCOUNTING POLICIES - continued

Financial instruments
(i) Financial assets

Basic financial assets, including trade and other debtors, cash and bank balances are initially recognised at transaction price, unless the arrangement constitutes as financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest rate method.

(ii) Financial liabilities

Basic financial liabilities, including trade and other creditors are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate.

Taxation
The tax expense for the year comprises current and deferred tax.

Tax is recognised in profit or loss except that a change attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:
- The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
- Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Both current and deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Operating leases
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Leases that do not transfer all the risks and rewards of ownership are classified as operating leases. Payments under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 8 ) .

CONKER CLOUD INNOVATIONS LIMITED (REGISTERED NUMBER: 02359270)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 June 2024


4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 July 2023 1,895,077
Additions 130,572
At 30 June 2024 2,025,649
AMORTISATION
At 1 July 2023 1,781,965
Charge for year 108,423
At 30 June 2024 1,890,388
NET BOOK VALUE
At 30 June 2024 135,261
At 30 June 2023 113,112

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 July 2023 21,295 129,843 151,138
Additions - 874 874
At 30 June 2024 21,295 130,717 152,012
DEPRECIATION
At 1 July 2023 17,698 125,320 143,018
Charge for year 267 4,137 4,404
At 30 June 2024 17,965 129,457 147,422
NET BOOK VALUE
At 30 June 2024 3,330 1,260 4,590
At 30 June 2023 3,597 4,523 8,120

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 313,109 144,991
Other debtors 26,050 45,948
Prepayments and accrued income 3,481 140,000
342,640 330,939

CONKER CLOUD INNOVATIONS LIMITED (REGISTERED NUMBER: 02359270)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 June 2024


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 28,445 59,749
Tax 93,770 79,550
Social security and other taxes 5,976 12,021
VAT 24,512 16,970
Other creditors 46,443 22,510
Accruals and deferred income 51,907 29,449
251,053 220,249

The invoice discounting facility of £40,177 (2023 - £15,094), which is included in other creditors, is secured
by way of a fixed and floating charge over the assets of the Company.

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year - 4,876

9. RELATED PARTY DISCLOSURES

During the prior year, the company wrote back an amount of £498,263 to an entity under common control of the Directors.