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REGISTERED NUMBER: 12282256 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023

FOR

K CONNECT LTD

K CONNECT LTD (REGISTERED NUMBER: 12282256)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 October 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


K CONNECT LTD

COMPANY INFORMATION
for the Year Ended 31 October 2023







DIRECTOR: C D Kirkwood





REGISTERED OFFICE: Carr Farm
Rimswell
Withernsea
East Yorkshire
HU19 2BZ





REGISTERED NUMBER: 12282256 (England and Wales)





ACCOUNTANTS: Sowerby
Chartered Accountants
Beckside Court
Annie Reed Road
Beverley
East Yorkshire
HU17 0LF

K CONNECT LTD (REGISTERED NUMBER: 12282256)

BALANCE SHEET
31 October 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 339,221 307,873
Investments 5 151 151
339,372 308,024

CURRENT ASSETS
Debtors 6 297,611 662,030
Cash at bank and in hand 5,103,091 107,011
5,400,702 769,041
CREDITORS
Amounts falling due within one year 7 4,377,451 58,964
NET CURRENT ASSETS 1,023,251 710,077
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,362,623

1,018,101

PROVISIONS FOR LIABILITIES 48,699 66,758
NET ASSETS 1,313,924 951,343

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 1,313,724 951,143
SHAREHOLDERS' FUNDS 1,313,924 951,343

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.

K CONNECT LTD (REGISTERED NUMBER: 12282256)

BALANCE SHEET - 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 20 December 2023 and were signed by:





C D Kirkwood - Director


K CONNECT LTD (REGISTERED NUMBER: 12282256)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 October 2023


1. STATUTORY INFORMATION

K Connect Limited is a private company, limited by shares, registered in England. The company's registered office is at Carr Farm, Rimswell, Withernsea, HU19 2BZ. The entity's registered number is 12282256.

The principal activity of the company is Agricultural contracting.

The financial statements have been presented in the Pound Sterling (£) as this is the functional currency of the company.

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.

Having regard to liquidity risk, current market conditions and other factors affecting the company, the use of the going concern basis of accounting is appropriate as, in the opinion of the directors, there are no material uncertainties related to events or conditions that may cast significant doubt about the ability of the company to continue as a going concern.

The directors, having taken into the factors discussed above as well as the uncertainties of the current economic environment, have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.

Turnover
Turnover is the amount derived from ordinary activities, measured at the fair value of the consideration received or receivable. Turnover excludes value added tax and trade discounts.

Turnover from the sale of goods is recognised at the point of sale.

Turnover from services is recognised on completion of service, or when those services span the year end date, by reference to the stage of completion at the balance sheet date.

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 - 25% on a reducing balance basis
Agricultural vehicles - 20% on a straight line bases

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.


K CONNECT LTD (REGISTERED NUMBER: 12282256)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 October 2023


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 1 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 November 2022 528,372
Additions 109,352
At 31 October 2023 637,724
DEPRECIATION
At 1 November 2022 220,499
Charge for year 78,004
At 31 October 2023 298,503
NET BOOK VALUE
At 31 October 2023 339,221
At 31 October 2022 307,873

K CONNECT LTD (REGISTERED NUMBER: 12282256)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 October 2023


5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 November 2022
and 31 October 2023 151
NET BOOK VALUE
At 31 October 2023 151
At 31 October 2022 151

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors - 290,969
Amounts owed by group undertakings - 178,624
Related parties 281,718 190,000
VAT 13,263 -
Prepayments 2,630 2,437
297,611 662,030

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 497 292
Amounts owed to group undertakings 1,571,376 -
Tax 27,699 -
VAT - 55,881
Related parties 2,736,200 -
Directors' current accounts 40,079 1,341
Accrued expenses 1,600 1,450
4,377,451 58,964