Silverfin false false 30/06/2023 01/07/2022 30/06/2023 N J Gross 08/10/2022 17/06/1997 K E Hambleton 20/01/2015 R J Nissen 14/12/2022 S M Smith 14/12/2022 12 January 2024 The principal activity of the Company during the financial year was that of software development. 03387857 2023-06-30 03387857 bus:Director1 2023-06-30 03387857 bus:Director2 2023-06-30 03387857 bus:Director3 2023-06-30 03387857 bus:Director4 2023-06-30 03387857 2022-06-30 03387857 core:CurrentFinancialInstruments 2023-06-30 03387857 core:CurrentFinancialInstruments 2022-06-30 03387857 core:ShareCapital 2023-06-30 03387857 core:ShareCapital 2022-06-30 03387857 core:RetainedEarningsAccumulatedLosses 2023-06-30 03387857 core:RetainedEarningsAccumulatedLosses 2022-06-30 03387857 core:PatentsTrademarksLicencesConcessionsSimilar 2022-06-30 03387857 core:PatentsTrademarksLicencesConcessionsSimilar 2023-06-30 03387857 core:FurnitureFittings 2022-06-30 03387857 core:OfficeEquipment 2022-06-30 03387857 core:FurnitureFittings 2023-06-30 03387857 core:OfficeEquipment 2023-06-30 03387857 2022-07-01 2023-06-30 03387857 bus:FilletedAccounts 2022-07-01 2023-06-30 03387857 bus:SmallEntities 2022-07-01 2023-06-30 03387857 bus:AuditExemptWithAccountantsReport 2022-07-01 2023-06-30 03387857 bus:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 03387857 bus:Director1 2022-07-01 2023-06-30 03387857 bus:Director2 2022-07-01 2023-06-30 03387857 bus:Director3 2022-07-01 2023-06-30 03387857 bus:Director4 2022-07-01 2023-06-30 03387857 core:PatentsTrademarksLicencesConcessionsSimilar core:TopRangeValue 2022-07-01 2023-06-30 03387857 core:PatentsTrademarksLicencesConcessionsSimilar 2022-07-01 2023-06-30 03387857 core:FurnitureFittings 2022-07-01 2023-06-30 03387857 core:OfficeEquipment core:TopRangeValue 2022-07-01 2023-06-30 03387857 2021-07-01 2022-06-30 03387857 core:OfficeEquipment 2022-07-01 2023-06-30 iso4217:GBP xbrli:pure

Company No: 03387857 (England and Wales)

CONNECTIVE LOGIC SYSTEMS LTD.

Unaudited Financial Statements
For the financial year ended 30 June 2023
Pages for filing with the registrar

CONNECTIVE LOGIC SYSTEMS LTD.

Unaudited Financial Statements

For the financial year ended 30 June 2023

Contents

CONNECTIVE LOGIC SYSTEMS LTD.

BALANCE SHEET

As at 30 June 2023
CONNECTIVE LOGIC SYSTEMS LTD.

BALANCE SHEET (continued)

As at 30 June 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 4 276 1,117
276 1,117
Current assets
Debtors 5 55,870 60,420
Cash at bank and in hand 129,435 102,186
185,305 162,606
Creditors: amounts falling due within one year 6 ( 44,643) ( 33,512)
Net current assets 140,662 129,094
Total assets less current liabilities 140,938 130,211
Net assets 140,938 130,211
Capital and reserves
Called-up share capital 1,475 1,475
Profit and loss account 139,463 128,736
Total shareholders' funds 140,938 130,211

For the financial year ending 30 June 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Connective Logic Systems Ltd. (registered number: 03387857) were approved and authorised for issue by the Director on 12 January 2024. They were signed on its behalf by:

K E Hambleton
Director
CONNECTIVE LOGIC SYSTEMS LTD.

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2023
CONNECTIVE LOGIC SYSTEMS LTD.

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2023
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

Connective Logic Systems Ltd. (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 3 Filers Way, Weston Gateway Business Park, Weston-Super-Mare, BS24 7JP, 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 £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

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. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Trademarks, patents and licences 5 years straight line
Trademarks, patents and licences

Separately acquired patents and trademarks are included at cost and amortised in equal annual instalments over a period of [amount of years] years which is their estimated useful economic life. Provision is made for any impairment.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Fixtures and fittings 20 % reducing balance
Office equipment 5 years straight line

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.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

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 Profit and Loss Account as described below.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 5 2

3. Intangible assets

Trademarks, patents
and licences
Total
£ £
Cost
At 01 July 2022 4,260 4,260
At 30 June 2023 4,260 4,260
Accumulated amortisation
At 01 July 2022 4,260 4,260
At 30 June 2023 4,260 4,260
Net book value
At 30 June 2023 0 0
At 30 June 2022 0 0

4. Tangible assets

Fixtures and fittings Office equipment Total
£ £ £
Cost
At 01 July 2022 730 20,754 21,484
At 30 June 2023 730 20,754 21,484
Accumulated depreciation
At 01 July 2022 605 19,762 20,367
Charge for the financial year 30 811 841
At 30 June 2023 635 20,573 21,208
Net book value
At 30 June 2023 95 181 276
At 30 June 2022 125 992 1,117

5. Debtors

2023 2022
£ £
Trade debtors 55,630 32,785
Other debtors 240 27,635
55,870 60,420

6. Creditors: amounts falling due within one year

2023 2022
£ £
Corporation tax 12,486 8,975
Other taxation and social security 15,408 10,535
Other creditors 16,749 14,002
44,643 33,512

7. Related party transactions

Transactions with the entity's directors

The Directors loan account is repayable on demand and interest is charged on overdrawn balances exceeding £10,000 at the official HMRC rates.

At 1 July 2022, the balance owed by the director was £3,098. During the year, £21,363 was advanced to the director, and £24,461was repaid by the director. At 30 June 2023, the balance owed to the director was £229.

At 1 July 2021, the balance owed to the director was £892. During the year, £78,354 was advanced to the director, and £74,416 was repaid by the director. At 30 June 2022, the balance owed by the director was £3,098.