Caseware UK (AP4) 2022.0.179 2022.0.179 2022-12-312022-12-31No description of principal activityfalsefalse2022-01-0100trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 4198443 2022-01-01 2022-12-31 4198443 2021-01-01 2021-12-31 4198443 2022-12-31 4198443 2021-12-31 4198443 c:Director1 2022-01-01 2022-12-31 4198443 d:CurrentFinancialInstruments 2022-12-31 4198443 d:CurrentFinancialInstruments 2021-12-31 4198443 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 4198443 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 4198443 d:ShareCapital 2022-12-31 4198443 d:ShareCapital 2021-12-31 4198443 d:RetainedEarningsAccumulatedLosses 2022-12-31 4198443 d:RetainedEarningsAccumulatedLosses 2021-12-31 4198443 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2022-12-31 4198443 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2021-12-31 4198443 c:FRS102 2022-01-01 2022-12-31 4198443 c:AuditExempt-NoAccountantsReport 2022-01-01 2022-12-31 4198443 c:FullAccounts 2022-01-01 2022-12-31 4198443 c:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31 4198443 2 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure

Registered number: 4198443









CONNECT TELECOM UK LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2022

 
CONNECT TELECOM UK LIMITED


BALANCE SHEET
AS AT 31 DECEMBER 2022

2022
2021
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
137,100
125,928

Cash at bank and in hand
 5 
492,251
502,292

  
629,351
628,220

Creditors: amounts falling due within one year
 6 
(530,004)
(544,169)

Net current assets
  
 
 
99,347
 
 
84,051

Total assets less current liabilities
  
99,347
84,051

  

Net assets
  
99,347
84,051


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
99,346
84,050

  
99,347
84,051


Page 1

 
CONNECT TELECOM UK LIMITED

    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2022

The Director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The Director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 26 September 2023.




E Kortwijk
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
CONNECT TELECOM UK LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

1.


General information

The Company is a private limited company incorporated in England and Wales. The Company's registered office address is 1 The Green, Richmond, Surrey, TW9 1PL.
The principal activity of the company during the year was the provision of telephone services.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Page 3

 
CONNECT TELECOM UK LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 4

 
CONNECT TELECOM UK LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 5

 
CONNECT TELECOM UK LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.10

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance sheet.

 
2.11

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.

Page 6

 
CONNECT TELECOM UK LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

3.


Employees

The Company has no employees other than the Directors, who did not receive any remuneration (2021 - £NIL).

The average monthly number of employees, including directors, during the year was 0 (2021 - 0).


4.


Debtors

2022
2021
£
£


Trade debtors
24,722
-

Prepayments and accrued income
22,709
36,259

Deferred taxation
89,669
89,669

137,100
125,928



5.


Cash and cash equivalents

2022
2021
£
£

Cash at bank and in hand
492,251
502,292

492,251
502,292



6.


Creditors: Amounts falling due within one year

2022
2021
£
£

Trade creditors
24,651
40,208

Corporation tax
3,341
4,203

Other taxation and social security
11,356
6,371

Accruals and deferred income
490,656
493,387

530,004
544,169


Page 7

 
CONNECT TELECOM UK LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

7.


Financial instruments

2022
2021
£
£

Financial assets


Financial assets measured at fair value through profit or loss
492,251
502,292




Financial assets measured at amortised cost comprises of cash at bank.

 
Page 8