Silverfin false 31/10/2022 01/11/2021 31/10/2022 Mrs C J Beer 05/10/1998 05 October 2023 The principal activity of the Company during the financial year was that of tour operators. 03643790 2022-10-31 03643790 bus:Director1 2022-10-31 03643790 2021-10-31 03643790 core:CurrentFinancialInstruments 2022-10-31 03643790 core:CurrentFinancialInstruments 2021-10-31 03643790 core:Non-currentFinancialInstruments 2022-10-31 03643790 core:Non-currentFinancialInstruments 2021-10-31 03643790 core:ShareCapital 2022-10-31 03643790 core:ShareCapital 2021-10-31 03643790 core:RetainedEarningsAccumulatedLosses 2022-10-31 03643790 core:RetainedEarningsAccumulatedLosses 2021-10-31 03643790 core:OfficeEquipment 2021-10-31 03643790 core:OfficeEquipment 2022-10-31 03643790 core:CostValuation 2021-10-31 03643790 core:RevaluationsIncreaseDecreaseInInvestments 2022-10-31 03643790 core:CostValuation 2022-10-31 03643790 core:ProvisionsForImpairmentInvestments 2021-10-31 03643790 core:ProvisionsForImpairmentInvestments 2022-10-31 03643790 bus:OrdinaryShareClass1 2022-10-31 03643790 2021-11-01 2022-10-31 03643790 bus:FullAccounts 2021-11-01 2022-10-31 03643790 bus:SmallEntities 2021-11-01 2022-10-31 03643790 bus:AuditExemptWithAccountantsReport 2021-11-01 2022-10-31 03643790 bus:PrivateLimitedCompanyLtd 2021-11-01 2022-10-31 03643790 bus:Director1 2021-11-01 2022-10-31 03643790 core:OfficeEquipment 2021-11-01 2022-10-31 03643790 2020-11-01 2021-10-31 03643790 bus:OrdinaryShareClass1 2021-11-01 2022-10-31 03643790 bus:OrdinaryShareClass1 2020-11-01 2021-10-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 03643790 (England and Wales)

CONNECT STUDIES LIMITED

Unaudited Financial Statements
For the financial year ended 31 October 2022
Pages for filing with the registrar

CONNECT STUDIES LIMITED

Unaudited Financial Statements

For the financial year ended 31 October 2022

Contents

CONNECT STUDIES LIMITED

COMPANY INFORMATION

For the financial year ended 31 October 2022
CONNECT STUDIES LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 October 2022
DIRECTOR Mrs C J Beer
REGISTERED OFFICE Cole Farm
9 Cold Knap Way
Barry
CF62 6SQ
United Kingdom
COMPANY NUMBER 03643790 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Blackbrook Gate 1
Blackbrook Business Park
Taunton
Somerset TA1 2PX
CONNECT STUDIES LIMITED

BALANCE SHEET

As at 31 October 2022
CONNECT STUDIES LIMITED

BALANCE SHEET (continued)

As at 31 October 2022
Note 2022 2021
£ £
Fixed assets
Tangible assets 3 784 884
Investments 4 69 622
853 1,506
Current assets
Debtors 5 64,073 52,751
Cash at bank and in hand 22,076 3,158
86,149 55,909
Creditors: amounts falling due within one year 6 ( 80,815) ( 8,430)
Net current assets 5,334 47,479
Total assets less current liabilities 6,187 48,985
Creditors: amounts falling due after more than one year 7 ( 39,045) ( 50,000)
Provision for liabilities ( 177) ( 221)
Net liabilities ( 33,035) ( 1,236)
Capital and reserves
Called-up share capital 8 6 6
Profit and loss account ( 33,041 ) ( 1,242 )
Total shareholder's deficit ( 33,035) ( 1,236)

For the financial year ending 31 October 2022 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Connect Studies Limited (registered number: 03643790) were approved and authorised for issue by the Director on 05 October 2023. They were signed on its behalf by:

Mrs C J Beer
Director
CONNECT STUDIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2022
CONNECT STUDIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2022
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Connect Studies Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Cole Farm, 9 Cold Knap Way, Barry, CF62 6SQ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The financial statements have been prepared on a going concern basis, which assumes that the company will continue in operational existence for the foreseeable future. The director, having made all of the necessary enquiries, is satisfied that the going concern basis of preparation is appropriate. In forming this opinion, and in particular, the director, who recognises that there can be no certainty, have considered the performance and profitability of the company both during the year and subsequent to the year end, including the significant upturn in business following the end of Covid-19 travel restrictions, and expects the company to be able to meet its liabilities as they fall due with the continued support of its director.

The director recognises, however, the uncertainty that exists within the travel industry and the global economy currently, and therefore, as a result of this, the director recognises that there can be no certainty in respect of this.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company's activities. Turnover is shown net of value added tax and returns. Revenue from services is recognised as they are delivered.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Office equipment 20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2. Employees

2022 2021
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Tangible assets

Office equipment Total
£ £
Cost
At 01 November 2021 10,145 10,145
Additions 90 90
At 31 October 2022 10,235 10,235
Accumulated depreciation
At 01 November 2021 9,261 9,261
Charge for the financial year 190 190
At 31 October 2022 9,451 9,451
Net book value
At 31 October 2022 784 784
At 31 October 2021 884 884

4. Fixed asset investments

Listed investments Total
£ £
Carrying value before impairment
At 01 November 2021 622 622
Movement in fair value ( 553) ( 553)
At 31 October 2022 69 69
Provisions for impairment
At 01 November 2021 0 0
At 31 October 2022 0 0
Carrying value at 31 October 2022 69 69
Carrying value at 31 October 2021 622 622

5. Debtors

2022 2021
£ £
Amounts owed by director 36,472 43,986
Prepayments 6,895 777
Corporation tax 3,294 3,266
Other debtors 17,412 4,722
64,073 52,751

6. Creditors: amounts falling due within one year

2022 2021
£ £
Bank loans and overdrafts 22,179 0
Accruals and deferred income 42,039 3,450
Taxation and social security 12,097 0
Other creditors 4,500 4,980
80,815 8,430

7. Creditors: amounts falling due after more than one year

2022 2021
£ £
Bank loans 39,045 50,000

8. Called-up share capital

2022 2021
£ £
Allotted, called-up and fully-paid
6 Ordinary shares of £ 1.00 each 6 6

9. Related party transactions

Transactions with the entity's director

2022 2021
£ £
Directors' current account (36,472) (43,986)

Advances were made to the director in the year to 31 October 2021 for £77,404 of which £101,717 was repaid in the same year. As at 31 October 2021, the amount due to the company was £43,986.

Advances made to the director during the year ended 31 October 2022 totalled £107,228 of which £114,742 has been repaid during the year. As at 31 October 2022, the amount due to the company was £36,472.

Interest is charged on the loan at HMRC's official rate of interest, and the loan is repayable on demand.

Other related party transactions

2022 2021
£ £
A Role To Play Limited 5,316 4,722

(a company related by way of its director, Mrs C J Beer)

Included in other debtors is an amount due from A Role To Play Limited. At the balance sheet date, the amount due was £5,316 (2021: £4,722).