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REGISTERED NUMBER: 03900592 (England and Wales)







UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

FOR

CONNECT LETTINGS AND MANAGEMENT LIMITED

CONNECT LETTINGS AND MANAGEMENT LIMITED (REGISTERED NUMBER: 03900592)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CONNECT LETTINGS AND MANAGEMENT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2022







DIRECTOR: Mr T Philippou



REGISTERED OFFICE: 468 Green Lanes
Palmers Green
London
N13 5PA



REGISTERED NUMBER: 03900592 (England and Wales)



ACCOUNTANTS: Freemans Partnership LLP
Chartered Certifed Accountants
Solar House
282 Chase Road
London
N14 6NZ



BANKERS: National Westminster Bank Plc
9 The Town
Enfield
London
Middlesex
EN2 6LH

CONNECT LETTINGS AND MANAGEMENT LIMITED (REGISTERED NUMBER: 03900592)

BALANCE SHEET
31 DECEMBER 2022

31.12.22 31.12.21
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 30,358 30,411

CURRENT ASSETS
Debtors 5 126,631 133,286
Cash at bank and in hand 32,239 99,156
158,870 232,442
CREDITORS
Amounts falling due within one year 6 77,032 142,076
NET CURRENT ASSETS 81,838 90,366
TOTAL ASSETS LESS CURRENT
LIABILITIES

112,196

120,777

CREDITORS
Amounts falling due after more than one
year

7

34,850

44,488
NET ASSETS 77,346 76,289

CAPITAL AND RESERVES
Called up share capital 8 2 2
Retained earnings 77,344 76,287
SHAREHOLDERS' FUNDS 77,346 76,289

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 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.

CONNECT LETTINGS AND MANAGEMENT LIMITED (REGISTERED NUMBER: 03900592)

BALANCE SHEET - continued
31 DECEMBER 2022


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 Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 September 2023 and were signed by:





Mr T Philippou - Director


CONNECT LETTINGS AND MANAGEMENT LIMITED (REGISTERED NUMBER: 03900592)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022


1. STATUTORY INFORMATION

Connect Lettings And Management 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.

Turnover
Turnover represents amounts derived from the provision of services to landlords and customers during the year, and is recognised at the date the service was provided. This is stated after trade discounts, other sales taxes and net of VAT.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - not provided
Office equipment - 25% straight line
Fixtures and fittings - 25% straight line
Computer equipment - 25% straight line

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 balance sheet date.

Government grants
Government grants represents income received in the form of the Job Retention Scheme (JRS) received from the Government during the COVID-19 pandemic. The Government Grant also represents the first year of interest for the company on the Bounce Back Loan (BBL) it received during the year.

The grants are recognised on the accruals basis in the same period as the expenditure that it is expected to compensate for.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2021 - 6 ) .

CONNECT LETTINGS AND MANAGEMENT LIMITED (REGISTERED NUMBER: 03900592)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022


4. TANGIBLE FIXED ASSETS
Improvements
Short to Office
leasehold property equipment
£    £    £   
COST
At 1 January 2022 1,114 16,014 13,072
Additions - - 4,357
At 31 December 2022 1,114 16,014 17,429
DEPRECIATION
At 1 January 2022 - - 11,113
Charge for year - - 1,579
At 31 December 2022 - - 12,692
NET BOOK VALUE
At 31 December 2022 1,114 16,014 4,737
At 31 December 2021 1,114 16,014 1,959

Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 January 2022 40,760 34,955 105,915
Additions - - 4,357
At 31 December 2022 40,760 34,955 110,272
DEPRECIATION
At 1 January 2022 35,747 28,644 75,504
Charge for year 1,253 1,578 4,410
At 31 December 2022 37,000 30,222 79,914
NET BOOK VALUE
At 31 December 2022 3,760 4,733 30,358
At 31 December 2021 5,013 6,311 30,411

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£    £   
Trade debtors 7,630 5,025
Amount due from related companies 114,438 126,235
Prepayments and accrued income 4,563 2,026
126,631 133,286

CONNECT LETTINGS AND MANAGEMENT LIMITED (REGISTERED NUMBER: 03900592)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2022


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£    £   
Trade creditors 1,544 6,234
Tax 8,810 6,748
Social security and other taxes 2,374 3,010
VAT 14,205 21,396
Other creditors 32,105 98,181
Amount due to related companies 9,277 -
Director's loan account 3,007 3,007
Accruals and deferred income 5,710 3,500
77,032 142,076

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.22 31.12.21
£    £   
Bank loans - 1-2 years 4,850 5,833
Bank loans - 2-5 years 30,000 30,000
Bank loans more 5 yr by instal - 8,655
34,850 44,488

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 8,655

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.22 31.12.21
value: £    £   
2 Ordinary 1 2 2