Convex FX Ltd 11575829 false 2023-10-01 2024-09-30 2024-09-30 The principal activity of the company is that of motion picture production activities. Digita Accounts Production Advanced 6.30.9574.0 true 11575829 2023-10-01 2024-09-30 11575829 2024-09-30 11575829 bus:OrdinaryShareClass1 2024-09-30 11575829 core:RetainedEarningsAccumulatedLosses 2024-09-30 11575829 core:ShareCapital 2024-09-30 11575829 core:CurrentFinancialInstruments 2024-09-30 11575829 core:CurrentFinancialInstruments core:WithinOneYear 2024-09-30 11575829 core:FurnitureFittings 2024-09-30 11575829 core:LandBuildings core:LongLeaseholdAssets 2024-09-30 11575829 core:MotorVehicles 2024-09-30 11575829 core:PlantMachinery 2024-09-30 11575829 bus:SmallEntities 2023-10-01 2024-09-30 11575829 bus:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 11575829 bus:AbridgedAccounts 2023-10-01 2024-09-30 11575829 bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 11575829 bus:RegisteredOffice 2023-10-01 2024-09-30 11575829 bus:Director1 2023-10-01 2024-09-30 11575829 bus:Director2 2023-10-01 2024-09-30 11575829 bus:OrdinaryShareClass1 2023-10-01 2024-09-30 11575829 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 11575829 core:ComputerEquipment 2023-10-01 2024-09-30 11575829 core:FurnitureFittings 2023-10-01 2024-09-30 11575829 core:LandBuildings core:LongLeaseholdAssets 2023-10-01 2024-09-30 11575829 core:MotorVehicles 2023-10-01 2024-09-30 11575829 core:PlantMachinery 2023-10-01 2024-09-30 11575829 countries:AllCountries 2023-10-01 2024-09-30 11575829 2023-09-30 11575829 core:FurnitureFittings 2023-09-30 11575829 core:LandBuildings core:LongLeaseholdAssets 2023-09-30 11575829 core:MotorVehicles 2023-09-30 11575829 core:PlantMachinery 2023-09-30 11575829 2022-10-01 2023-09-30 11575829 2023-09-30 11575829 bus:OrdinaryShareClass1 2023-09-30 11575829 core:RetainedEarningsAccumulatedLosses 2023-09-30 11575829 core:ShareCapital 2023-09-30 11575829 core:CurrentFinancialInstruments 2023-09-30 11575829 core:CurrentFinancialInstruments core:WithinOneYear 2023-09-30 11575829 core:FurnitureFittings 2023-09-30 11575829 core:LandBuildings core:LongLeaseholdAssets 2023-09-30 11575829 core:MotorVehicles 2023-09-30 11575829 core:PlantMachinery 2023-09-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 11575829

Convex FX Ltd

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 30 September 2024

 

Convex FX Ltd

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 7

 

Convex FX Ltd

Company Information

Directors

S Benelisha

A Benelisha

Registered office

Suite 1B1 Argyle House
Northside
Joel Street
Northwood Hills
HA6 1NW

Accountants

Ross + Partners
Chartered Certified Accountants
Suite 1B1 Argyle House
Northside
Joel Street
Northwood Hills
HA6 1NW

 

Convex FX Ltd

(Registration number: 11575829)
Abridged Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

3

126,305

124,844

Current assets

 

Debtors

18,098

4,303

Cash at bank and in hand

 

26,490

147,907

 

44,588

152,210

Creditors: Amounts falling due within one year

(88,891)

(199,062)

Net current liabilities

 

(44,303)

(46,852)

Total assets less current liabilities

 

82,002

77,992

Provisions for liabilities

(12,022)

(4,524)

Net assets

 

69,980

73,468

Capital and reserves

 

Called up share capital

100

100

Retained earnings

69,880

73,368

Shareholders' funds

 

69,980

73,468

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

Directors' 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 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 special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the Board on 26 November 2024 and signed on its behalf by:
 

 

Convex FX Ltd

(Registration number: 11575829)
Abridged Balance Sheet as at 30 September 2024

.........................................
S Benelisha
Director

.........................................
A Benelisha
Director

 

Convex FX Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 September 2024

1

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 abridged 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 abridged 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.

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.

Tax

The tax expense for the period comprises current and 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.

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.

 

Convex FX Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 September 2024

Tangible assets

Tangible assets are stated in the balance sheet 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

Plant and machinery

25% reducing balance

Motor vehicles

25% reducing balance

Computer equipment

33.3% straight line

2

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

3

Tangible assets

Long leasehold land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Motor vehicles
 £

Cost or valuation

At 1 October 2023

-

5,193

244,372

24,303

Additions

37,677

-

3,374

-

At 30 September 2024

37,677

5,193

247,746

24,303

Depreciation

At 1 October 2023

-

5,193

125,295

18,536

Charge for the year

7,535

-

30,613

1,442

At 30 September 2024

7,535

5,193

155,908

19,978

Carrying amount

At 30 September 2024

30,142

-

91,838

4,325

At 30 September 2023

-

-

119,077

5,767

 

Convex FX Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 September 2024

Total
£

Cost or valuation

At 1 October 2023

273,868

Additions

41,051

At 30 September 2024

314,919

Depreciation

At 1 October 2023

149,024

Charge for the year

39,590

At 30 September 2024

188,614

Carrying amount

At 30 September 2024

126,305

At 30 September 2023

124,844

Included within the net book value of land and buildings above is £30,142 (2023 - £Nil) in respect of long leasehold land and buildings.
 

 

Convex FX Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 September 2024

4

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100