Company registration number 03431091 (England and Wales)
CONN SECURITIES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 NOVEMBER 2023
PAGES FOR FILING WITH REGISTRAR
CONN SECURITIES LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
CONN SECURITIES LIMITED
BALANCE SHEET
AS AT 30 NOVEMBER 2023
30 November 2023
- 1 -
2023
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
347
569
Investment properties
5
3,370,000
3,691,178
Investments
6
985,592
985,592
4,355,939
4,677,339
Current assets
Debtors
-
0
58,880
Cash at bank and in hand
122,368
150,588
122,368
209,468
Creditors: amounts falling due within one year
7
(791,781)
(919,357)
Net current liabilities
(669,413)
(709,889)
Total assets less current liabilities
3,686,526
3,967,450
Creditors: amounts falling due after more than one year
8
-
0
(212,000)
Net assets
3,686,526
3,755,450
Capital and reserves
Called up share capital
200
200
Profit and loss reserves
3,686,326
3,755,250
Total equity
3,686,526
3,755,450

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial Period ended 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the Period in question in accordance with section 476.

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

The financial statements were approved and signed by the director and authorised for issue on 17 July 2024
Mr DG Conn
Director
Company Registration No. 03431091
CONN SECURITIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 NOVEMBER 2023
- 2 -
1
Accounting policies
Company information

Conn Securities Limited is a private company limited by shares incorporated in England and Wales. The registered office is 845 Finchley Road, London, United Kingdom, NW11 8NA.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

 

The transition to FRS 102 1A has not resulted in any changes in accounting policies to those used previously.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Turnover
Turnover represents rents receivable net of VAT.
1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures, fittings & equipment
25% on a straight line basis

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.

1.4
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

1.5
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.

1.6
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 current liabilities.

CONN SECURITIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 NOVEMBER 2023
1
Accounting policies
(Continued)
- 3 -

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

1.8
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the Period was:

2023
2023
Number
Number
Total
2
2
CONN SECURITIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 NOVEMBER 2023
- 4 -
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2023 and 30 November 2023
6,841
Depreciation and impairment
At 1 April 2023
6,272
Depreciation charged in the Period
222
At 30 November 2023
6,494
Carrying amount
At 30 November 2023
347
At 31 March 2023
569
5
Investment property
2023
£
Fair value
At 1 April 2023
3,691,178
Disposals
(110,000)
Revaluations
(211,178)
At 30 November 2023
3,370,000

The fair value of the investment property has been arrived at on the basis of a valuation carried out at 31 March 2024 by the directors of the company. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

6
Fixed asset investments
2023
2023
£
£
Shares in group undertakings and participating interests
985,592
985,592
CONN SECURITIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 NOVEMBER 2023
- 5 -
7
Creditors: amounts falling due within one year
2023
2023
£
£
Bank loans
-
0
38,000
Trade creditors
25,403
42,732
Corporation tax
86,887
48,830
Other taxation and social security
14,072
216
Other creditors
665,419
789,579
791,781
919,357
8
Creditors: amounts falling due after more than one year
2023
2023
£
£
Bank loans and overdrafts
-
0
212,000
2023-11-302023-04-01false17 July 2024CCH SoftwareCCH Accounts Production 2024.200No description of principal activityMr D ConnMr M B Connfalsefalse034310912023-04-012023-11-30034310912023-11-30034310912023-03-3103431091core:OtherPropertyPlantEquipment2023-11-3003431091core:OtherPropertyPlantEquipment2023-03-3103431091core:CurrentFinancialInstruments2023-11-3003431091core:CurrentFinancialInstruments2023-03-3103431091core:Non-currentFinancialInstruments2023-11-3003431091core:Non-currentFinancialInstruments2023-03-3103431091core:ShareCapital2023-11-3003431091core:ShareCapital2023-03-3103431091core:RetainedEarningsAccumulatedLosses2023-11-3003431091core:RetainedEarningsAccumulatedLosses2023-03-3103431091bus:Director12023-04-012023-11-3003431091core:FurnitureFittings2023-04-012023-11-30034310912022-04-012023-03-3103431091core:OtherPropertyPlantEquipment2023-03-3103431091core:OtherPropertyPlantEquipment2023-04-012023-11-30034310912023-03-3103431091bus:PrivateLimitedCompanyLtd2023-04-012023-11-3003431091bus:SmallCompaniesRegimeForAccounts2023-04-012023-11-3003431091bus:FRS1022023-04-012023-11-3003431091bus:AuditExemptWithAccountantsReport2023-04-012023-11-3003431091bus:CompanySecretary12023-04-012023-11-3003431091bus:FullAccounts2023-04-012023-11-30xbrli:purexbrli:sharesiso4217:GBP