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REGISTERED NUMBER: 08712797 (England and Wales)



Financial Statements for the Year Ended 31 October 2023

for

Connect Gas Ltd

Connect Gas Ltd (Registered number: 08712797)

Contents of the Financial Statements
for the Year Ended 31 October 2023










Page

Company Information 1

Statement of Financial Position 2 to 3

Notes to the Financial Statements 4 to 6


Connect Gas Ltd

Company Information
for the Year Ended 31 October 2023







DIRECTOR: Mr P Lam





REGISTERED OFFICE: 37 Veals Mead
Mitcham
Surrey
CR4 3SB





REGISTERED NUMBER: 08712797 (England and Wales)





ACCOUNTANTS: BBK Partnership
Chartered Accountants
& Statutory Auditors
1 Beauchamp Court
10 Victors Way
Barnet
Hertfordshire
EN5 5TZ

Connect Gas Ltd (Registered number: 08712797)

Statement of Financial Position
31 October 2023

31.10.23 31.10.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 8,764 8,555

CURRENT ASSETS
Debtors 5 12,344 29,250
Cash at bank 135,872 64,002
148,216 93,252
CREDITORS
Amounts falling due within one year 6 (41,405 ) (32,599 )
NET CURRENT ASSETS 106,811 60,653
TOTAL ASSETS LESS CURRENT
LIABILITIES

115,575

69,208

CAPITAL AND RESERVES
Called up share capital 7 1 1
Retained earnings 8 115,574 69,207
SHAREHOLDERS' FUNDS 115,575 69,208

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Connect Gas Ltd (Registered number: 08712797)

Statement of Financial Position - continued
31 October 2023


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 16 February 2024 and were signed by:





Mr P Lam - Director


Connect Gas Ltd (Registered number: 08712797)

Notes to the Financial Statements
for the Year Ended 31 October 2023


1. STATUTORY INFORMATION

Connect Gas Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 20% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

Connect Gas Ltd (Registered number: 08712797)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 November 2022 19,622
Additions 2,703
At 31 October 2023 22,325
DEPRECIATION
At 1 November 2022 11,067
Charge for year 2,494
At 31 October 2023 13,561
NET BOOK VALUE
At 31 October 2023 8,764
At 31 October 2022 8,555

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Trade debtors 6,521 11,751
Other debtors 5,823 17,499
12,344 29,250

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Finance leases - 3,175
Taxation and social security 29,926 19,348
Other creditors 11,479 10,076
41,405 32,599

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.10.23 31.10.22
value: £    £   
1 Ordinary 1p 1 1

Connect Gas Ltd (Registered number: 08712797)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023


8. RESERVES
Retained
earnings
£   

At 1 November 2022 69,207
Profit for the year 83,867
Dividends (37,500 )
At 31 October 2023 115,574