2023-04-012024-03-312024-03-31false07559989Connect IT Consultancy 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Connect IT Consultancy Ltd

Registered Number
07559989
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

Connect IT Consultancy Ltd
Company Information
for the year from 1 April 2023 to 31 March 2024

Director

Paul Richards

Registered Address

Unit 4, Sandy Court, Ashleigh Way
Plympton
Plymouth
PL7 5JX

Registered Number

07559989 (England and Wales)
Connect IT Consultancy Ltd
Balance Sheet as at
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3-7
-7
Current assets
Debtors9,0535,648
Cash at bank and on hand3,654631
12,7076,279
Creditors amounts falling due within one year4(8,355)(8,329)
Net current assets (liabilities)4,352(2,050)
Total assets less current liabilities4,352(2,043)
Provisions for liabilities5-(1)
Net assets4,352(2,044)
Capital and reserves
Called up share capital101101
Profit and loss account4,251(2,145)
Shareholders' funds4,352(2,044)
The financial statements were approved and authorised for issue by the Director on 10 June 2024, and are signed on its behalf by:
Paul Richards
Director
Registered Company No. 07559989
Connect IT Consultancy Ltd
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Office Equipment3
2.Average number of employees

20242023
Average number of employees during the year11
3.Tangible fixed assets

Office Equipment

Total

££
Cost or valuation
At 01 April 23727727
At 31 March 24727727
Depreciation and impairment
At 01 April 23720720
Charge for year77
At 31 March 24727727
Net book value
At 31 March 24--
At 31 March 2377
4.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables1821,451
Taxation and social security6,5266,427
Other creditors1,647451
Total8,3558,329
5.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)-1
Total-1
6.Related party transactions
The director Paul Richards owed £5,245 to the company at 31st March 2024 (2023 - company owed the director £416)