REGISTERED NUMBER: 06558902 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2025

FOR

CONVENE IT LIMITED

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

J Donlan

REGISTERED OFFICE:

Unit 1a

Sandham Street

Chorley

PR6 0RA

REGISTERED NUMBER:

06558902 (England and Wales)

ACCOUNTANTS:

Ryans

Chartered Accountants

67 Chorley Old Road

Bolton

BL1 3AJ

FIXED ASSETS

Tangible assets

4

169,334

155,504

CURRENT ASSETS

Stocks

30,256

20,054

Debtors

624,023

554,713

Cash at bank and in hand

406,795

281,792

1,061,074

856,559

CREDITORS

Amounts falling due within one year

886,667

700,315

NET CURRENT ASSETS

174,407

156,244

TOTAL ASSETS LESS CURRENT LIABILITIES

343,741

311,748

CREDITORS

Amounts falling due after more than one year

(49,999

)

(40,990

)

PROVISIONS FOR LIABILITIES

(43,397

)

(40,431

)

NET ASSETS

250,345

230,327

CAPITAL AND RESERVES

Called up share capital

6

2

2

Retained earnings

250,343

230,325

SHAREHOLDERS' FUNDS

250,345

230,327

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31st March 2025 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 11th September 2025 and were signed by:

J Donlan - Director

1.	STATUTORY INFORMATION

Convene IT Limited is a private company, limited by shares , registered in England and Wales. 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

Revenue, described as turnover, is the value of goods (net of VAT) provided to customers during the year, plus the value of work performed during the year with respect to services.

Revenue is recognised on the sale of goods when the goods are despatched. Revenue is recognised on the provision of services on a percentage degree of completion basis calculated by reference to the time expended compared to the total anticipated time.

Depreciation

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Improvements to property

-

20% on cost

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

15% on cost

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 37 (2024 - 35 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1st April 2024

312,361

Additions

90,836

Disposals

(52,667

)

At 31st March 2025

350,530

DEPRECIATION

At 1st April 2024

156,857

Charge for year

56,356

Eliminated on disposal

(32,017

)

At 31st March 2025

181,196

NET BOOK VALUE

At 31st March 2025

169,334

At 31st March 2024

155,504

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals

£

COST

At 1st April 2024

and 31st March 2025

41,905

DEPRECIATION

At 1st April 2024

887

Charge for year

10,255

At 31st March 2025

11,142

NET BOOK VALUE

At 31st March 2025

30,763

At 31st March 2024

41,018

5.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Hire purchase contracts

49,501

29,775

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

2

Ordinary

£1

2

2

7.	TOTAL LEASING COMMITMENTS

The company has non-cancellable operating leases totalling £15,391 (2024: £27,285).

8.	ULTIMATE CONTROLLING PARTY

The company is controlled by the directer by virtue of his ownership of all the issued share capital in Convene Holdings Ltd.