Convibo Ltd - Abbreviated accounts 16.3

REGISTERED NUMBER: 08780184 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 30 SEPTEMBER 2016

FOR

CONVIBO LTD

Page

Abbreviated Balance Sheet

1

Notes to the Abbreviated Accounts

3

FIXED ASSETS

Tangible assets

2

1,963

1,717

CURRENT ASSETS

Debtors

4,581

-

Cash at bank

25,606

630

30,187

630

CREDITORS

Amounts falling due within one year

86,141

5,662

NET CURRENT LIABILITIES

(55,954

)

(5,032

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

(53,991

)

(3,315

)

CREDITORS

Amounts falling due after more than one
year

-

1,000

NET LIABILITIES

(53,991

)

(4,315

)

CAPITAL AND RESERVES

Called up share capital

3

30

Profit and loss account

(54,021

)

(4,345

)

SHAREHOLDERS' FUNDS

(53,991

)

(4,315

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2016 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 29 June 2017 and were signed on its behalf by:

G Tschurtschenthaler - Director

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The accounts have been prepared in accordance with applicable accounting standards. The principal accounting

policies adopted in the preparation of the financial statements are set out below and have remained unchanged

from the previous period.

At the balance sheet date the company had net current liabilities of £55,954 (2015: £5,032), and total net

liabilities of £55,954 (2015: £4,315). Included in creditors due within one year is a convertible loan note of

£79,000.

On 16 June 2017 the convertible loan note was converted into 4,321 of equity shares.The accounts and financial

statements have therefore been prepared on a going concern basis.

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 January 2015).

Turnover

Turnover comprises the value of sales (net of value added tax) of goods and services provided in the normal

course of business. Revenue is recognised in respect of service contracts when the company obtains the right to

consideration.

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

Furniture and equipment

-

15% on reducing balance

Deferred tax

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

sheet date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 October 2015

2,289

Additions

698

At 30 September 2016

2,987

DEPRECIATION

At 1 October 2015

572

Charge for year

452

At 30 September 2016

1,024

NET BOOK VALUE

At 30 September 2016

1,963

At 30 September 2015

1,717

3.	CALLED UP SHARE CAPITAL

Allotted and issued:

Number:

Class:

Nominal

2016

2015

value:

£

30

Ordinary

£1

30

4.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 September 2016 and

30 September 2015:

2016

2015

£

P T Malavetas

Balance outstanding at start of year

-

Amounts advanced

1,860

-

Amounts repaid

-

Balance outstanding at end of year

1,860

-

5.	CONTROLLING INTERESTS

The directors are considered to be the ultimate controlling parties by virtue of their ability to act in concert in

respect of the financial and operating policies of the company.