Company No:
Contents
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 |
Note | 2023 | 2022 | ||
£ | £ | |||
Fixed assets | ||||
Tangible assets | 3 |
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Investments | 4 |
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1,818 | 853 | |||
Current assets | ||||
Debtors | 5 |
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Cash at bank and in hand |
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460,331 | 86,149 | |||
Creditors: amounts falling due within one year | 6 | (
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Net current assets | 5,304 | 5,334 | ||
Total assets less current liabilities | 7,122 | 6,187 | ||
Creditors: amounts falling due after more than one year | 7 |
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Provision for liabilities | (
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Net assets/(liabilities) |
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Capital and reserves | ||||
Called-up share capital | 8 |
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Profit and loss account |
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Total shareholder's funds/(deficit) |
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Director's responsibilities:
The financial statements of Connect Studies Limited (registered number:
Mrs C J Beer
Director |
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.
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 £.
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 continued upturn in business, and expects the company to be able to meet its liabilities as they fall due with the continued support of its director.
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.
Office equipment |
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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 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.
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).
When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.
2023 | 2022 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including the director |
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Office equipment | Total | ||
£ | £ | ||
Cost | |||
At 01 November 2022 |
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Additions |
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At 31 October 2023 |
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Accumulated depreciation | |||
At 01 November 2022 |
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Charge for the financial year |
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At 31 October 2023 |
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Net book value | |||
At 31 October 2023 |
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At 31 October 2022 |
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Listed investments | Total | ||
£ | £ | ||
Cost or valuation before impairment | |||
At 01 November 2022 |
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At 31 October 2023 |
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Carrying value at 31 October 2023 |
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Carrying value at 31 October 2022 |
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2023 | 2022 | ||
£ | £ | ||
Amounts owed by director |
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Prepayments |
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Corporation tax |
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Other debtors |
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2023 | 2022 | ||
£ | £ | ||
Bank loans and overdrafts |
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Accruals and deferred income |
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Taxation and social security |
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Other creditors |
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2023 | 2022 | ||
£ | £ | ||
Bank loans |
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2023 | 2022 | ||
£ | £ | ||
Allotted, called-up and fully-paid | |||
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Transactions with the entity's director
2023 | 2022 | ||
£ | £ | ||
Directors' current account | (76,404) | (36,472) |
Advances were made to the director in the year to 31 October 2022 for £107,228 of which £114,742 was repaid in the same year. As at 31 October 2022, the amount due to the company was £36,472.
Advances made to the director during the year ended 31 October 2023 totalled £422,419 of which £382,487 has been repaid during the year. As at 31 October 2023, the amount due to the company was £76,404.
Interest is charged on the loan at HMRC's official rate of interest, and the loan is repayable on demand.
Other related party transactions
2023 | 2022 | ||
£ | £ | ||
A Role To Play Limited | 5,946 | 5,316 |
(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 £5,946 (2022: £5,316).