CONET LTD

CONET LTD

CONET LTD - Company Information

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1 November 2017 false No description of principal activity Taxfiler 2019.6.Web 10441160business:PrivateLimitedCompanyLtd2017-11-012018-10-31 104411602017-10-31 104411602017-11-012018-10-31 10441160business:AuditExempt-NoAccountantsReport2017-11-012018-10-31 10441160business:FullAccounts2017-11-012018-10-31 104411602018-10-31 10441160business:Director12017-11-012018-10-31 10441160business:RegisteredOffice2017-11-012018-10-31 104411602017-10-31 10441160core:WithinOneYear2018-10-31 10441160core:WithinOneYear2017-10-31 10441160core:ShareCapital2018-10-31 10441160core:ShareCapital2017-10-31 10441160core:RetainedEarningsAccumulatedLosses2018-10-31 10441160core:RetainedEarningsAccumulatedLosses2017-10-31 10441160business:SmallEntities2017-11-012018-10-31 10441160countries:EnglandWales2017-11-012018-10-31 10441160core:PlantMachinery2017-11-012018-10-31 10441160core:ComputerEquipment2017-11-012018-10-31 10441160core:PlantMachinery2017-10-31 10441160core:ComputerEquipment2017-10-31 10441160core:PlantMachinery2018-10-31 10441160core:ComputerEquipment2018-10-31 104411602016-10-242017-10-31 iso4217:GBP xbrli:pure
Company Registration No. 10441160 (England and Wales)
CONET LTD Unaudited accounts for the year ended 31 October 2018
CONET LTD Unaudited accounts Contents
Page
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CONET LTD Company Information for the year ended 31 October 2018
Director
Mr Tae Soo SHIN
Company Number
10441160 (England and Wales)
Registered Office
Unit 58b Whitehill & Bordon Enterprise Budds Lane Bordon Hampshire GU35 0FJ England
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CONET LTD Statement of financial position as at 31 October 2018
2018 
2017 
Notes
£ 
£ 
Fixed assets
Tangible assets
4
2,311 
1,591 
Current assets
Inventories
5
6,500 
4,854 
Debtors
6
22,387 
5,721 
Cash at bank and in hand
20,571 
4,063 
49,458 
14,638 
Creditors: amounts falling due within one year
7
(45,452)
(20,296)
Net current assets/(liabilities)
4,006 
(5,658)
Net assets/(liabilities)
6,317 
(4,067)
Capital and reserves
Called up share capital
1,000 
1,000 
Profit and loss account
5,317 
(5,067)
Shareholders' funds
6,317 
(4,067)
For the year ending 31 October 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 12 May 2019.
Mr Tae Soo SHIN Director Company Registration No. 10441160
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CONET LTD Notes to the Accounts for the year ended 31 October 2018
1
Statutory information
CONET LTD is a private company, limited by shares, registered in England and Wales, registration number 10441160. The registered office is Unit 58b Whitehill & Bordon Enterprise , Budds Lane, Bordon, Hampshire, GU35 0FJ, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% reducing balance
Computer equipment
25% reducing balance
Foreign exchange
Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction.
Turnover
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
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CONET LTD Notes to the Accounts for the year ended 31 October 2018
4
Tangible fixed assets
Plant & machinery 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 November 2017
2,121 
- 
2,121 
Additions
- 
1,490 
1,490 
At 31 October 2018
2,121 
1,490 
3,611 
Depreciation
At 1 November 2017
530 
- 
530 
Charge for the year
398 
372 
770 
At 31 October 2018
928 
372 
1,300 
Net book value
At 31 October 2018
1,193 
1,118 
2,311 
At 31 October 2017
1,591 
- 
1,591 
5
Inventories
2018 
2017 
£ 
£ 
Finished goods
6,500 
4,854 
6,500 
4,854 
6
Debtors
2018 
2017 
£ 
£ 
Trade debtors
18,300 
5,721 
Accrued income and prepayments
4,087 
- 
22,387 
5,721 
7
Creditors: amounts falling due within one year
2018 
2017 
£ 
£ 
Trade creditors
41,001 
14,817 
Taxes and social security
1,440 
1,186 
Loans from directors
3,000 
3,000 
Accruals
11 
1,293 
45,452 
20,296 
8
Pension commitments
WORKPLACE PENSIONS The company operates an occupational pension scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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CONET LTD Notes to the Accounts for the year ended 31 October 2018
9
Controlling party
The ultimate controlling parties are as follows: By virtue of its relevant legal entity's 100% shareholding; KENIT CO., LTD (Registration No. 117-81-59905) 823, Lifecombi Building, 32, 63-Ro, Yeongdeungpo-Gu Seoul South Korea and By virtue of its director's significant influence or control; Mr TAE SOO SHIN 2 Hillbrow New Malden Surrey KT3 4HT United Kingdom
10
Average number of employees
During the year the average number of employees was 1 (2017: 0).
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