Constantdotco Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 11470044 (England and Wales)

Unaudited Financial Statements

for the Period 1st December 2019 to 31st March 2021

for

CONSTANTDOTCO LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

Chartered Accountants' Report

7

DIRECTOR:

J Agnes

REGISTERED OFFICE:

25 Newman Street

London

W1T 1PN

REGISTERED NUMBER:

11470044 (England and Wales)

ACCOUNTANTS:

Simpson Wreford & Partners

Chartered Accountants

Suffolk House

George Street

Croydon

Surrey

CR0 0YN

FIXED ASSETS

Intangible assets

4

780,000

900,000

Property, plant and equipment

5

13,061

25,782

793,061

925,782

CURRENT ASSETS

Debtors

6

1,326,447

1,182,349

Cash at bank

25,996

675

1,352,443

1,183,024

CREDITORS

Amounts falling due within one year

7

2,457,527

1,799,708

NET CURRENT LIABILITIES

(1,105,084

)

(616,684

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(312,023

)

309,098

CREDITORS

Amounts falling due after more than one year

8

542,120

-

NET (LIABILITIES)/ASSETS

(854,143

)

309,098

CAPITAL AND RESERVES

Called up share capital

140,968

133,666

Share premium

1,460,063

1,219,124

Retained earnings

(2,455,174

)

(1,043,692

)

(854,143

)

309,098

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31st March 2021.

The members have not required the company to obtain an audit of its financial statements for the period ended 31st March 2021 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.

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

The financial statements were approved by the director and authorised for issue on 8th October 2021 and were signed by:

J Agnes - Director

1.	STATUTORY INFORMATION

Constantdotco 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.

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.

Going concern

The directors continue to assess, in light of the impact of Covid-19 on the business, whether the company has access to sufficient funding, together with cash inflows from revenue, shareholder support, research and development tax credit claims, borrowing and government assistance in order to continue to meet its short-term liabilities and ongoing running costs.

The directors believe that the going concern basis of preparation is appropriate given their expectation that further investment and short-term support from existing investors, together with a combination of cash inflows from continuing revenue, research and development tax credit claims, borrowing and government assistance will enable it to meet its short-term liabilities and ongoing running costs. The directors also believe that, were these sources of support, funding and cash to prove inadequate, there is scope to seek external investment on terms that would expedite that investment, and scope to temporarily reduce the company's cost base if required.

Turnover

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

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. Amortisation is charged over the useful economic life of the asset.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on cost

Computer equipment

-

25% on cost

Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

Government grants included within the financial statements are comprised of furlough payments to staff members as part of the government's package of measures to cover the impact of COVID-19.

Taxation

Taxation for the period 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 period 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.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 22 (2019 - 22 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1st December 2019

and 31st March 2021

900,000

AMORTISATION

Charge for period

120,000

At 31st March 2021

120,000

NET BOOK VALUE

At 31st March 2021

780,000

At 30th November 2019

900,000

5.	PROPERTY, PLANT AND EQUIPMENT

Plant and

Computer

machinery

equipment

Totals

£

£

£

COST

At 1st December 2019

20,000

31,042

51,042

Additions

1,006

5,434

6,440

At 31st March 2021

21,006

36,476

57,482

DEPRECIATION

At 1st December 2019

10,000

15,260

25,260

Charge for period

7,002

12,159

19,161

At 31st March 2021

17,002

27,419

44,421

NET BOOK VALUE

At 31st March 2021

4,004

9,057

13,061

At 30th November 2019

10,000

15,782

25,782

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.21

30.11.19

£

£

Trade debtors

1,005,423

972,603

Other debtors

140

140

Tax

303,759

207,359

Prepayments

17,125

2,247

1,326,447

1,182,349

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.21

30.11.19

£

£

Other loans

60,907

40,130

Trade creditors

319,066

78,619

Amounts owed to group undertakings

232,661

523,439

Social security and other taxes

646,570

311,749

VAT

208,640

127,218

Other creditors

426,570

298,517

Wages and salaries

150,980

77,251

Accruals and deferred income

412,133

342,785

2,457,527

1,799,708

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.21

30.11.19

£

£

Other loans - 1-2 years

41,518

-

Other creditors

500,602

-

542,120

-

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Statement of Comprehensive Income and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Constantdotco Limited for the period ended 31st March 2021 which comprise the Statement of Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Constantdotco Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Constantdotco Limited and state those matters that we have agreed to state to the director of Constantdotco Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Constantdotco Limited and its director for our work or for this report.

It is your duty to ensure that Constantdotco Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Constantdotco Limited. You consider that Constantdotco Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of Constantdotco Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Simpson Wreford & Partners

Chartered Accountants

Suffolk House

George Street

Croydon

Surrey

CR0 0YN

Date: .............................................