Converge Technology Ltd - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 08225307 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2015

FOR

CONVERGE TECHNOLOGY LTD

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

M Smith

G G Ryan

Mrs J A Ryan

Mrs B Smith

REGISTERED OFFICE:

Unit C1 Herrick Close

Staverton Technology Park

Cheltenham

Gloucestershire

GL51 6TQ

REGISTERED NUMBER:

08225307 (England and Wales)

ACCOUNTANTS:

Randall & Payne LLP

Chartered Accountants

Chargrove House

Shurdington Road

Cheltenham

Gloucestershire

GL51 4GA

FIXED ASSETS

Intangible assets

2

461,821

577,276

Tangible assets

3

25,881

34,662

487,702

611,938

CURRENT ASSETS

Stocks

19,403

38,725

Debtors

585,897

610,163

Cash at bank and in hand

195,605

171,966

800,905

820,854

CREDITORS

Amounts falling due within one year

415,522

598,314

NET CURRENT ASSETS

385,383

222,540

TOTAL ASSETS LESS CURRENT LIABILITIES

873,085

834,478

CREDITORS

Amounts falling due after more than one year

145,398

212,746

NET ASSETS

727,687

621,732

CAPITAL AND RESERVES

Called up share capital

4

620,000

620,000

Profit and loss account

107,687

1,732

SHAREHOLDERS' FUNDS

727,687

621,732

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2015 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 11 August 2015 and were signed on its behalf by:

M Smith - Director

G G Ryan - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The directors consider that there are no material uncertainties that may cast significant doubt about the

company’s ability to continue as a going concern.

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 goods and provision of services, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of five years.

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 reducing balance

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due

allowance for obsolete and slow moving items.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Deferred tax

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

the balance sheet date.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2014

and 31 March 2015

577,276

AMORTISATION

Amortisation for year

115,455

At 31 March 2015

115,455

NET BOOK VALUE

At 31 March 2015

461,821

At 31 March 2014

577,276

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2014

and 31 March 2015

38,336

DEPRECIATION

At 1 April 2014

3,674

Charge for year

8,781

At 31 March 2015

12,455

NET BOOK VALUE

At 31 March 2015

25,881

At 31 March 2014

34,662

4.	CALLED UP SHARE CAPITAL