Registration number:
Comprobo Limited
for the Year Ended 31 August 2024
Comprobo Limited
Contents
|
Statement of Financial Position |
|
|
Notes to the Unaudited Financial Statements |
Comprobo Limited
(Registration number: 08184534)
Statement of Financial Position as at 31 August 2024
|
Note |
2024 |
2023 |
|
|
Fixed assets |
|||
|
Intangible assets |
|
|
|
|
Tangible assets |
|
|
|
|
|
|
||
|
Current assets |
|||
|
Debtors |
|
|
|
|
Cash at bank and in hand |
|
|
|
|
|
|
||
|
Creditors: Amounts falling due within one year |
( |
( |
|
|
Net current liabilities |
( |
( |
|
|
Total assets less current liabilities |
|
|
|
|
Provisions for liabilities |
( |
( |
|
|
Net assets |
|
|
|
|
Capital and reserves |
|||
|
Called up share capital |
|
|
|
|
Share premium reserve |
|
|
|
|
Profit and loss account |
( |
( |
|
|
Shareholders' funds |
|
|
For the financial year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
|
• |
|
|
• |
The directors acknowledge their 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 provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
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 directors have not delivered to the registrar a copy of the Income Statement.
Approved and authorised by the
Comprobo Limited
(Registration number: 08184534)
Statement of Financial Position as at 31 August 2024
|
......................................... |
Comprobo Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024
|
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
|
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.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The financial statements have been prepared on a going concern basis as the company continues to be supported by investors.
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 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.
Government grants
Grants are accounted for under the accruals model as permitted by FRS 102. Grants of a revenue nature are recognised in “other income” within profit or loss in the same period as the related expenditure.
Tax
The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Comprobo Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when 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.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
|
Asset class |
Depreciation method and rate |
|
Computer equipment |
straight line over 3 years |
Goodwill
Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.
Development costs
The Directors believe it is reasonable for Development costs to be recognised as an intangible asset as:
a) They believe it is technically feasible to complete the software so that it will be available for use or sale, demonstrated by the fact that early versions are already in use;
b) The company intends to complete the software and promote its use;
c) The ability exists to use the software;
d) The software is intended to generate probable future economic benefits for the Company;
e) The Company has adequate technical, financial and other resources to complete the development through a series of phased releases in order for the software to be used; and
f) The Company is able to measure reliably expenditure attributable to the software during its development.
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
|
Asset class |
Amortisation method and rate |
|
Patents and trademarks |
estimated useful life of 5 years |
|
Development costs |
estimated useful life of 5 years |
Comprobo Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024
Trade debtors
Short term debtors are measured at transaction price, less any impairment.
Cash and cash equivalents
Cash is represented by cash in hand and bank deposits.
Trade creditors
Short term creditors are measured at the transaction price.
Provisions
Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.
Employee benefits
Short-term employee benefits are recognised as an expense in the period which they are incurred.
Financial instruments
|
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Comprobo Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024
|
Intangible assets |
|
Development costs |
Trademarks, patents and licenses |
Total |
|
|
Cost or valuation |
|||
|
At 1 September 2023 |
|
|
|
|
Additions acquired separately |
|
- |
|
|
At 31 August 2024 |
|
|
|
|
Amortisation |
|||
|
At 1 September 2023 |
|
|
|
|
Amortisation charge |
|
- |
|
|
At 31 August 2024 |
|
|
|
|
Carrying amount |
|||
|
At 31 August 2024 |
|
- |
|
|
At 31 August 2023 |
|
- |
|
|
Tangible assets |
|
Office equipment |
Total |
|
|
Cost or valuation |
||
|
At 1 September 2023 |
|
|
|
At 31 August 2024 |
|
|
|
Depreciation |
||
|
At 1 September 2023 |
|
|
|
Charge for the year |
|
|
|
At 31 August 2024 |
|
|
|
Carrying amount |
||
|
At 31 August 2024 |
|
|
|
At 31 August 2023 |
|
|
Comprobo Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024
|
Debtors |
|
2024 |
2023 |
|
|
Trade debtors |
|
|
|
Other debtors |
- |
|
|
Prepayments |
|
|
|
Accrued income |
|
- |
|
|
|
|
Creditors |
Creditors: amounts falling due within one year
|
2024 |
2023 |
|
|
Trade creditors |
|
|
|
Taxation and social security |
|
- |
|
Accruals and deferred income |
|
|
|
|
|
|
Going concern |
The financial statements have been prepared on a going concern basis as the company continues to be suppoted by investors.