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REGISTERED NUMBER: SC311802 (Scotland)















Unaudited Financial Statements for the Year Ended 31 December 2024

for

Coneworx Ltd.

Coneworx Ltd. (Registered number: SC311802)






Contents of the Financial Statements
for the Year Ended 31 December 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Coneworx Ltd.

Company Information
for the Year Ended 31 December 2024







DIRECTORS: Mrs Pauline Tiffen
Ms Ainsley Tiffen





REGISTERED OFFICE: Unit 4 Biggar Road Industrial Estate
Cleland
North Lanarkshire
ML1 5PB





REGISTERED NUMBER: SC311802 (Scotland)





ACCOUNTANTS: Accountants Plus
Chartered Certified Accountants
Unit 1 Cadzow Park
82 Muir Street
Hamilton
ML3 6BJ

Coneworx Ltd. (Registered number: SC311802)

Balance Sheet
31 December 2024

31.12.24 31.12.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 184,171 254,555

CURRENT ASSETS
Debtors 5 1,734,908 1,552,807
Cash at bank and in hand 301,996 598,213
2,036,904 2,151,020
CREDITORS
Amounts falling due within one year 6 1,088,916 1,283,457
NET CURRENT ASSETS 947,988 867,563
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,132,159

1,122,118

CREDITORS
Amounts falling due after more than
one year

7

(13,045

)

(12,165

)

PROVISIONS FOR LIABILITIES (29,229 ) (39,561 )
NET ASSETS 1,089,885 1,070,392

CAPITAL AND RESERVES
Called up share capital 129 129
Share premium 9 14,975 14,975
Capital redemption reserve 9 83 83
Retained earnings 9 1,074,698 1,055,205
1,089,885 1,070,392

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

Coneworx Ltd. (Registered number: SC311802)

Balance Sheet - continued
31 December 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 July 2025 and were signed on its behalf by:





Ms Ainsley Tiffen - Director


Coneworx Ltd. (Registered number: SC311802)

Notes to the Financial Statements
for the Year Ended 31 December 2024

1. STATUTORY INFORMATION

Coneworx Ltd. is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on cost
Plant and machinery - 25% on cost
Office equipment - 25% on cost and 15% on cost
Motor vehicles - 25% on cost

Financial instruments
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 creditors are measured at transaction price, less any impairment. 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.

Cash and bank balances
Cash and bank balances are measured at the transaction price.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Coneworx Ltd. (Registered number: SC311802)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid 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 72 (2023 - 68 ) .

4. TANGIBLE FIXED ASSETS
Improvements
to Plant and Office Motor
property machinery equipment vehicles Totals
£    £    £    £    £   
COST
At 1 January 2024 59,142 743,064 313,319 131,057 1,246,582
Additions 4,044 10,308 19,095 63,405 96,852
Disposals - - - (193,052 ) (193,052 )
At 31 December 2024 63,186 753,372 332,414 1,410 1,150,382
DEPRECIATION
At 1 January 2024 41,363 558,774 275,648 116,242 992,027
Charge for year 5,967 63,669 19,380 4,745 93,761
Eliminated on disposal - - - (119,577 ) (119,577 )
At 31 December 2024 47,330 622,443 295,028 1,410 966,211
NET BOOK VALUE
At 31 December 2024 15,856 130,929 37,386 - 184,171
At 31 December 2023 17,779 184,290 37,671 14,815 254,555

Coneworx Ltd. (Registered number: SC311802)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade debtors 1,477,469 1,229,312
Other debtors 932 34,623
Prepayments and accrued income 256,507 288,872
1,734,908 1,552,807

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Hire purchase contracts 6,296 4,424
Invoice discounting facility 247,593 361,346
Trade creditors 252,198 296,049
Corporation tax 95,987 108,220
Social security and other taxes 73,120 76,491
VAT 211,169 212,357
Other creditors 29,957 34,260
Directors' loan accounts 20,400 25,718
Accruals and deferred income 152,196 164,592
1,088,916 1,283,457

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.12.24 31.12.23
£    £   
Hire purchase contracts 13,045 12,165

8. SECURED DEBTS

The following secured debts are included within creditors:

31.12.24 31.12.23
£    £   
Hire purchase contracts 19,341 16,589
Invoice discounting facility 1,218,565 934,402
1,237,906 950,991

The amounts due in connection with bank loans and invoice finance are secured by a bond and floating charge over the assets of the company.

Hire purchase creditors and other loans are secured over the assets financed.

Coneworx Ltd. (Registered number: SC311802)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

9. RESERVES
Capital
Retained Share redemption
earnings premium reserve Totals
£    £    £    £   

At 1 January 2024 1,055,205 14,975 83 1,070,263
Profit for the year 210,073 210,073
Dividends (190,580 ) (190,580 )
At 31 December 2024 1,074,698 14,975 83 1,089,756