Company registration number:
Connect Pharma Limited
for the Year Ended 31 May 2023
Connect Pharma Limited
Contents
Company Information |
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Accountants' Report |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Connect Pharma Limited
Company Information
Directors |
J Cattee L Goodman A Bailey |
Registered office |
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Accountants |
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Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Connect Pharma Limited
for the Year Ended 31 May 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Connect Pharma Limited for the year ended 31 May 2023 as set out on pages 3 to 6 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.
This report is made solely to the Board of Directors of Connect Pharma Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Connect Pharma Limited and state those matters that we have agreed to state to the Board of Directors of Connect Pharma Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/
october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Connect Pharma Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Connect Pharma Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Connect Pharma Limited. You consider that Connect Pharma Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Connect Pharma Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
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Chartered Certified Accountants
St. Helens
Merseyside
WA9 1UA
Connect Pharma Limited
(Registration number: 10098728)
Balance Sheet as at 31 May 2023
Note |
2023 |
2022 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
- |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Retained earnings |
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Shareholders' funds |
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For the financial year ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have 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.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the
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Connect Pharma Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023
General information |
The company is a private company limited by share capital, incorporated in England.
The address of its registered office is:
The principal place of business is:
Unit 2A
Broom Business Park
Bridge Way
Chesterfield
S41 9QG
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover comprises the fair value of the sale of goods and services net of value added tax, returns, rebates and discounts. Sales of goods and services are recognised either at the point of sale or when the company has delivered them to the customer.
Tangible assets
Tangible assets are initially recorded at cost.
Depreciation
Depreciation is charged so as to write off the cost an asset, less its residual value, over the useful economic life of that asset as follows:
Asset class |
Depreciation method and rate |
Computer equipment |
33% Straight line |
Office equipment |
10% Straight line |
Motor vehicles |
25% Reducing balance |
Connect Pharma Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023
Leases
Assets held hire purchase contracts are capitalised in the balance sheet and are depreciated over their useful lives. The capital of future obligations under hire purchase contracts are included in liabilities in the balance sheet.
The interest element of the rental obligations are charged in the profit and loss account over the period of the hire purchase contract.
Rentals payable under operating leases are charged in the profit and loss account over the lease term.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Tangible assets |
Office equipment |
Motor vehicles |
Computer equipment |
Total |
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Cost or valuation |
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At 1 June 2022 |
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- |
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Additions |
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At 31 May 2023 |
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Depreciation |
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At 1 June 2022 |
- |
- |
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Charge for the year |
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At 31 May 2023 |
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Carrying amount |
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At 31 May 2023 |
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- |
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At 31 May 2022 |
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- |
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Connect Pharma Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023
Debtors |
2023 |
2022 |
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Trade debtors |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
2023 |
2022 |
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Due within one year |
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Loans and borrowings |
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- |
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Trade creditors |
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- |
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Taxation and social security |
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Other creditors |
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Creditors include net obligations under finance lease and hire purchase contracts which are secured of £3,787 (2022 - £Nil).
Creditors: amounts falling due after more than one year
2023 |
2022 |
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Due after one year |
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Loans and borrowings |
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Creditors include net obligations under finance lease and hire purchase contracts which are secured of £48,687 (2022 - £Nil).
Financial commitments, guarantees and contingencies |
Amounts not provided for in the balance sheet
The total amount of financial commitments not included in the balance sheet is £
Related party transactions |
During the year, Cattee Investments Limited received a loan of £500,000 from Connect Pharma Limited. Mr. J Cattee is a shareholder and director of both companies.