Contrapositive Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

1. General Information

Contrapositive Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05378942 . The registered office is 3rd Floor, News Building 3 London Bridge Street , London, SE1 9SG.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

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

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery	33% on cost
Motor Vehicles	25% on cost
Fixtures & Fittings	33% on cost
Computer Equipment	33% on cost

2.4. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.

2.5. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

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Contrapositive Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

2.6. Pensions

The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 14 (2024: 13)

4. Tangible Assets

	Land & Property
	Leasehold	Plant & Machinery	Motor Vehicles	Fixtures & Fittings
	£	£	£	£
Cost
As at 1 April 2024	3,250	2,083	56,590	27,339
Additions	-	-	-	290

As at 31 March 2025	3,250	2,083	56,590	27,629

Depreciation
As at 1 April 2024	3,250	2,083	4,716	27,339
Provided during the period	-	-	14,147	96

As at 31 March 2025	3,250	2,083	18,863	27,435

Net Book Value
As at 31 March 2025	-	-	37,727	194

As at 1 April 2024	-	-	51,874	-


	Computer Equipment	Total
	£	£
Cost
As at 1 April 2024	215,901	305,163
Additions	3,691	3,981

As at 31 March 2025	219,592	309,144

Depreciation
As at 1 April 2024	209,143	246,531
Provided during the period	6,688	20,931

As at 31 March 2025	215,831	267,462

Net Book Value
As at 31 March 2025	3,761	41,682

As at 1 April 2024	6,758	58,632

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Contrapositive Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

5. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	284,439	187,105
Prepayments and accrued income	55,840	105,520
Other debtors	912	1,745

	341,191	294,370

6. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	5,996	5,996
Trade creditors	31,482	37,888
Bank loans and overdrafts	17,513	33,742
Corporation tax	66,019	65,478
Other taxes and social security	11,211	13,269
VAT	84,057	126,966
Net wages	267	267
Other creditors	3,183	3,588
Credit Card	32,643	18,385
Accruals and deferred income	148,093	123,559
Directors' loan accounts	4,736	4,112

	405,200	433,250

7. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	33,598	39,594
Bank loans	-	17,513

	33,598	57,107

8. Obligations Under Finance Leases and Hire Purchase

	2025	2024
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	5,996	5,996
Later than one year and not later than five years	33,598	39,594

	39,594	45,590

	39,594	45,590

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Contrapositive Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2025

9. Provisions for Liabilities


	Deferred Tax	Total
	£	£
As at 1 April 2024	11,121	11,121
Deferred taxation	(721 )	(721 )

Balance at 31 March 2025	10,400	10,400

10. Share Capital

	2025	2024
Allotted, called up but not fully paid	£	£
300 Ordinary Shares of £ 1.00 each	300	300

11. Dividends

	2025	2024
	£	£
On equity shares:
Final dividend paid	235,200	235,200

12. Related Party Transactions

Mr R Ciarleglio - Director and shareholder in the company.

Dividends of £78,400 (2024 - £78,400) were declared and paid to Mr R Ciarleglio.

At the year end, the company owed £2,279 (2024 - £1,967) to Mr R Ciarleglio.

Mr B Edge - Director and shareholder in the company.

Dividends of £78,400 (2024 - £78,400) were declared and paid to Mr B Edge.

At the year end, the company owed £2,457 (2024 - £2,145) to Mr B Edge.

Mrs C Ciarleglio - Shareholder in the company.

Dividends of £39,200 (2024 - £39,200) were declared and paid to Mrs C Ciarleglio.

At the year end, the company owed £223 (2024 - £223) to Mrs C Ciarleglio.

Mrs S Edge - Shareholder in the company.

Dividends of £39,200 (2024 - £39,200) were declared and paid to Mrs S Edge.

At the year end, the company owed £401 (2024 - £401) to Mrs S Edge.

All of the above loans are interest free and repayable on demand.

13. Ultimate Controlling Party

The company is under the joint control of Mr R Ciarleglio and Mr B Edge, by virtue of their equal shareholdings.

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		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		41,682		58,632

			41,682		58,632
CURRENT ASSETS
Debtors	5	341,191		294,370
Cash at bank and in hand		422,024		560,953

		763,215		855,323
Creditors: Amounts Falling Due Within One Year	6	(405,200 )		(433,250 )

NET CURRENT ASSETS (LIABILITIES)			358,015		422,073

TOTAL ASSETS LESS CURRENT LIABILITIES			399,697		480,705

Creditors: Amounts Falling Due After More Than One Year	7		(33,598 )		(57,107 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(10,400 )		(11,121 )

NET ASSETS			355,699		412,477

CAPITAL AND RESERVES
Called up share capital	10		300		300
Profit and Loss Account			355,399		412,177

SHAREHOLDERS' FUNDS			355,699		412,477