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Logo On Report
Registered Number: 08745347
England and Wales

 

 

 


Unaudited Financial Statements

for the year ended 31 December 2023

for

INDEPENDENT CONNECTOR SERVICES LIMITED

Director Taylor Barron
Registered Number 08745347
Registered Office 3 Brickfields Business Park
Old Stowmarket Road
Woolpit
Suffolk
IP30 9QS
Accountants Quove Accounting Ltd
3 Brickfields Business Park
Old Stowmarket Road, Woolpit
Bury St Edmunds
IP30 9QS
1
  2023   2022
    £ £   £ £
Fixed assets   28,205      31,322 
Current assets 65,631      93,526   
Prepayments and accrued income 4,486      4,486   
Creditors: amount falling due within one year (15,258)     (29,924)  
Net current assets   54,859      68,088 
Total assets less current liabilities   83,064      99,410 
Net assets   83,064      99,410 
 

         
Capital and reserves   83,064      99,410 
 
NOTES TO THE ACCOUNTS

General Information
Independent Connector Services Limited is a private company, limited by shares, registered in England and Wales, registration number 08745347, registration address 3 Brickfields Business Park, Old Stowmarket Road, Woolpit, Suffolk, IP30 9QS.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 105 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of 25 years.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 35% Reducing Balance
Motor Vehicles 25% Reducing Balance
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 January 2023 41,005    41,005 
Additions  
Disposals  
At 31 December 2023 41,005    41,005 
Amortisation
At 01 January 2023 14,760    14,760 
Charge for year 1,640    1,640 
On disposals  
At 31 December 2023 16,400    16,400 
Net book values
At 31 December 2023 24,605    24,605 
At 31 December 2022 26,245    26,245 


3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Total
  £   £   £
At 01 January 2023 9,770    3,550    13,320 
Additions    
Disposals    
At 31 December 2023 9,770    3,550    13,320 
Depreciation
At 01 January 2023 7,693    550    8,243 
Charge for year 727    750    1,477 
On disposals    
At 31 December 2023 8,420    1,300    9,720 
Net book values
Closing balance as at 31 December 2023 1,350    2,250    3,600 
Opening balance as at 01 January 2023 2,077    3,000    5,077 


4.

Average number of employees

Average number of employees during the year was 4 (2022 : 4).


For the year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's Responsibilities:
The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.

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

These accounts have been prepared in accordance with the micro-entity provisions and FRS 105, the Financial Reporting Standard applicable to the micro-entities regime. The accounts have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 08 July 2024 and were signed by:


--------------------------------
Taylor Barron
Director
2