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dpl-frs:DistributionCosts dpl-frs:Item10 2021-04-01 2022-03-31 07934315 frs-bus:Original dpl-frs:AdministrativeExpenses dpl-frs:Item10 2021-04-01 2022-03-31 07934315 frs-bus:Original dpl-frs:Item11 2021-04-01 2022-03-31 07934315 frs-bus:Original dpl-frs:Item11 2021-03-31 07934315 frs-bus:Original dpl-frs:Item11 2022-03-31 07934315 frs-bus:Original dpl-frs:CostSales dpl-frs:Item11 2021-04-01 2022-03-31 07934315 frs-bus:Original dpl-frs:CostSales dpl-frs:Item11 2021-03-31 07934315 frs-bus:Original dpl-frs:CostSales dpl-frs:Item11 2022-03-31 07934315 frs-bus:Original dpl-frs:DistributionCosts dpl-frs:Item11 2021-04-01 2022-03-31 07934315 frs-bus:Original dpl-frs:AdministrativeExpenses dpl-frs:Item11 2021-04-01 2022-03-31 07934315 frs-bus:Original dpl-frs:Item12 2021-04-01 2022-03-31 07934315 frs-bus:Original dpl-frs:Item12 2021-03-31 07934315 frs-bus:Original dpl-frs:Item12 2022-03-31 07934315 frs-bus:Original dpl-frs:CostSales dpl-frs:Item12 2021-04-01 2022-03-31 07934315 frs-bus:Original dpl-frs:CostSales dpl-frs:Item12 2021-03-31 07934315 frs-bus:Original dpl-frs:CostSales dpl-frs:Item12 2022-03-31 07934315 frs-bus:Original dpl-frs:DistributionCosts dpl-frs:Item12 2021-04-01 2022-03-31 07934315 frs-bus:Original dpl-frs:AdministrativeExpenses dpl-frs:Item12 2021-04-01 2022-03-31 07934315 frs-bus:Original 1 2021-04-01 2022-03-31 07934315 frs-bus:Original frs-countries:EnglandWales 2021-04-01 2022-03-31
Registered number: 07934315
Connect Sales & Marketing Associates Ltd
Directors' Report and
Financial Statements
For The Year Ended 31 March 2023
Directors' Report and Financial Statements
Contents
Page
Company Information 1
Directors' Report 2
Accountant's Report 3
Profit and Loss Account 4
Balance Sheet 5—6
Notes to the Financial Statements 7—9
Page 1
Company Information
Directors Mrs Leanne Adnan
Mr Oliver Adnan
Company Number 07934315
Registered Office 259 Copnor Road
Portsmouth
PO3 5EE
Accountants Neon Numbers Limited
259 Copnor Road
Portsmouth
Hampshire
PO3 5EE
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Page 2
Directors' Report
The directors present their report and the financial statements for the year ended 31 March 2023 .
Statement of Directors' Responsibilities
The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing the financial statements the directors are required to:
  • select suitable accounting policies and then apply them consistently;
  • make judgments and accounting estimates that are reasonable and prudent;
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Directors
The directors who held office during the year were as follows:
Mrs Leanne Adnan
Mr Oliver Adnan
Small Company Rules
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
On behalf of the board
Mr Oliver Adnan
Director
4th October 2023
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Accountant's Report
Report of the Accountant to the directors of Connect Sales & Marketing Associates Ltd
These financial statements have been prepared in accordance with our terms of engagement and in order to assist you to fulfil your duties under the Companies Acts that relate to preparing the financial statements of the company for the year ended 31 March 2023 .
We have prepared these financial statements based on the accounting records, information and explanations provided by you. We do not express any opinion on the financial statements.
On the Balance Sheet you have acknowledged your duties under the prevailing Companies Acts to ensure that the company keeps adequate accounting records and prepares financial statements that give “a true and fair view”.
You have determined that the company is exempt from the statutory requirement for an audit for this accounting year. Therefore, the financial statements are unaudited.
The financial statements are provided exclusively to the director for the limited purpose mentioned above, and may not be used or relied upon for any other purpose or by any other person, and we shall not be liable for any other usage or reliance.
Signed
4th October 2023
Neon Numbers Limited
259 Copnor Road
Portsmouth
Hampshire
PO3 5EE
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Profit and Loss Account
2023 2022
Notes £ £
TURNOVER 91,704 85,278
Cost of sales - -
GROSS PROFIT 91,704 85,278
Administrative expenses (52,903 ) (40,072 )
Other operating income - 3,667
OPERATING PROFIT 38,801 48,873
Other interest receivable and similar income 30 1
Interest payable and similar charges (58 ) (73 )
PROFIT BEFORE TAXATION 38,773 48,801
Tax on Profit (7,451 ) (9,249 )
PROFIT AFTER TAXATION BEING PROFIT FOR THE FINANCIAL YEAR 31,322 39,552
The notes on pages 7 to 9 form part of these financial statements.
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Balance Sheet
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 3 229 461
229 461
CURRENT ASSETS
Debtors 4 11,402 -
Cash at bank and in hand 8,678 21,518
20,080 21,518
Creditors: Amounts Falling Due Within One Year 5 (16,783 ) (16,701 )
NET CURRENT ASSETS (LIABILITIES) 3,297 4,817
TOTAL ASSETS LESS CURRENT LIABILITIES 3,526 5,278
Creditors: Amounts Falling Due After More Than One Year 6 (3,375 ) (4,875 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 7 (44 ) (88 )
NET ASSETS 107 315
CAPITAL AND RESERVES
Called up share capital 8 2 2
Profit and Loss Account 105 313
SHAREHOLDERS' FUNDS 107 315
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For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
On behalf of the board
Mr Oliver Adnan
Director
4th October 2023
The notes on pages 7 to 9 form part of these financial statements.
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Notes to the Financial Statements
1. Accounting Policies
1.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
1.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
1.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 33% Straight Line Method
1.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2. Average Number of Employees
Average number of employees, including directors, during the year was as follows: 2 (2022: 2)
2 2
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3. Tangible Assets
Fixtures & Fittings
£
Cost
As at 1 April 2022 7,695
As at 31 March 2023 7,695
Depreciation
As at 1 April 2022 7,234
Provided during the period 232
As at 31 March 2023 7,466
Net Book Value
As at 31 March 2023 229
As at 1 April 2022 461
4. Debtors
2023 2022
£ £
Due within one year
Other debtors 11,402 -
11,402 -
5. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Bank loans and overdrafts 1,500 1,500
Other creditors 1,739 14
Taxation and social security 13,544 15,187
16,783 16,701
6. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 3,375 4,875
3,375 4,875
7. Deferred Taxation
The provision for deferred tax is made up as follows:
2023 2022
£ £
Deferred Tax 44 88
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8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 2 2
9. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
The above loan is unsecured, interest free and repayable on demand.
10. Dividends
2023 2022
£ £
On equity shares:
Final dividend paid 31,530 46,050
31,530 46,050
11. Reserves
Profit and loss account - includes all current and prior period retained profit and losses.
12. General Information
Connect Sales & Marketing Associates Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 07934315 . The registered office is 259 Copnor Road, Portsmouth, PO3 5EE.
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