Convel Services Ltd - Limited company accounts 11.4

REGISTERED NUMBER: 07065522 (England and Wales)

Report of the Director and

Unaudited Financial Statements for the Year Ended 30 November 2013

for

Convel Services Ltd

Page

Company Information

1

Report of the Director

2

Profit and Loss Account

3

Balance Sheet

4

Notes to the Financial Statements

5

DIRECTOR:

Neill Allan

REGISTERED OFFICE:

1 Kings Avenue

Winchmore Hill

London

England

N21 3NA

REGISTERED NUMBER:

07065522 (England and Wales)

The director presents his report with the financial statements of the company for the year ended 30 November 2013.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of commission agent.

DIRECTORS

The directors who have held office during the period from 1 December 2012 to the date of this report are as follows:

Neill Allan - appointed 15 August 2013

Georgios Chr Kyrou - resigned 15 August 2013

STATEMENT OF DIRECTOR'S RESPONSIBILITIES

The director is responsible for preparing the Report of the Director and the financial statements in accordance with

applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director

has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting

Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not

approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the

company and of the profit or loss of the company for that period. In preparing these financial statements, the director is

required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the

company's transactions and disclose with reasonable accuracy at any time the financial position of the company and

enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for

safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud

and other irregularities.

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating

to small companies.

ON BEHALF OF THE BOARD:

Neill Allan - Director

19 August 2014

TURNOVER

5,000

93,494

Cost of sales

-

65,413

GROSS PROFIT

5,000

28,081

Administrative expenses

2,054

36,685

2,946

(8,604

)

Other operating income

1,269

-

OPERATING PROFIT/(LOSS) and

PROFIT/(LOSS) ON ORDINARY
ACTIVITIES BEFORE TAXATION

2

4,215

(8,604

)

Tax on profit/(loss) on ordinary activities

3

-

PROFIT/(LOSS) FOR THE FINANCIAL
YEAR

4,215

(8,604

)

CURRENT ASSETS

Cash at bank

-

51,184

CREDITORS

Amounts falling due within one year

4

25,231

80,630

NET CURRENT LIABILITIES

(25,231

)

(29,446

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

(25,231

)

(29,446

)

CAPITAL AND RESERVES

Called up share capital

5

2

Profit and loss account

6

(25,233

)

(29,448

)

SHAREHOLDERS' FUNDS

(25,231

)

(29,446

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2013.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2013 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 in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies and with the Financial Reporting Standard for Smaller Entities (effective April 2008).

The financial statements were approved by the director on 19 August 2014 and were signed by:

Neill Allan - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of services, excluding value added tax.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling

at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

2.	OPERATING PROFIT/(LOSS)

The operating profit (2012 - operating loss) is stated after charging/(crediting):

30.11.13

30.11.12

£

Foreign exchange differences

(1,269

)

-

Directors' remuneration and other benefits etc

-

3.

TAXATION

Analysis of the tax charge

No liability to UK corporation tax arose on ordinary activities for the year ended 30 November 2013 nor for the

year ended 30 November 2012.

4.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.13

30.11.12

£

Trade creditors

-

50,907

Other creditors

24,400

24,723

Accrued expenses

831

5,000

25,231

80,630

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.11.13

30.11.12

value:

£

2

ORDINARY

£1

2

6.

RESERVES

Profit

and loss

account

£

At 1 December 2012

(29,448

)

Profit for the year

4,215

At 30 November 2013

(25,233

)