Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-312023-01-01falseNo description of principal activity77truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 11511437 2023-01-01 2023-12-31 11511437 2022-01-01 2022-12-31 11511437 2023-12-31 11511437 2022-12-31 11511437 2022-01-01 11511437 c:Director2 2023-01-01 2023-12-31 11511437 d:OfficeEquipment 2023-01-01 2023-12-31 11511437 d:OfficeEquipment 2023-12-31 11511437 d:OfficeEquipment 2022-12-31 11511437 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 11511437 d:CurrentFinancialInstruments 2023-12-31 11511437 d:CurrentFinancialInstruments 2022-12-31 11511437 d:Non-currentFinancialInstruments 2023-12-31 11511437 d:Non-currentFinancialInstruments 2022-12-31 11511437 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 11511437 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 11511437 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 11511437 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 11511437 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-12-31 11511437 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-12-31 11511437 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-12-31 11511437 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-12-31 11511437 d:ShareCapital 2023-12-31 11511437 d:ShareCapital 2022-01-01 2022-12-31 11511437 d:ShareCapital 2022-12-31 11511437 d:ShareCapital 2022-01-01 11511437 d:SharePremium 2023-12-31 11511437 d:SharePremium 2022-01-01 2022-12-31 11511437 d:SharePremium 2022-12-31 11511437 d:SharePremium 2022-01-01 11511437 d:OtherMiscellaneousReserve 2023-12-31 11511437 d:OtherMiscellaneousReserve 2022-12-31 11511437 d:OtherMiscellaneousReserve 2022-01-01 11511437 d:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 11511437 d:RetainedEarningsAccumulatedLosses 2023-12-31 11511437 d:RetainedEarningsAccumulatedLosses 2022-01-01 2022-12-31 11511437 d:RetainedEarningsAccumulatedLosses 2022-12-31 11511437 d:RetainedEarningsAccumulatedLosses 2022-01-01 11511437 c:OrdinaryShareClass1 2023-01-01 2023-12-31 11511437 c:OrdinaryShareClass1 2023-12-31 11511437 c:OrdinaryShareClass2 2023-01-01 2023-12-31 11511437 c:OrdinaryShareClass2 2023-12-31 11511437 c:FRS102 2023-01-01 2023-12-31 11511437 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 11511437 c:FullAccounts 2023-01-01 2023-12-31 11511437 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 11511437 8 2023-01-01 2023-12-31 11511437 e:PoundSterling 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 11511437









THE CONDUIT CONNECT LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
THE CONDUIT CONNECT LIMITED
REGISTERED NUMBER:11511437

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
3,057
3,315

  
3,057
3,315

Current assets
  

Debtors: amounts falling due within one year
 5 
50,123
105,288

Cash at bank and in hand
  
386,282
345,779

  
436,405
451,067

Creditors: amounts falling due within one year
 6 
(576,350)
(179,964)

Net current (liabilities)/assets
  
 
 
(139,945)
 
 
271,103

Total assets less current liabilities
  
(136,888)
274,418

Creditors: amounts falling due after more than one year
 7 
(19,374)
(28,703)

  

Net (liabilities)/assets
  
(156,262)
245,715


Capital and reserves
  

Called up share capital 
 9 
37,179
37,179

Share premium account
  
1,242,085
1,242,085

Other reserves
  
747,838
747,838

Retained earnings
  
(2,183,364)
(1,781,387)

Shareholders' (deficit)/funds
  
(156,262)
245,715


Page 1

 
THE CONDUIT CONNECT LIMITED
REGISTERED NUMBER:11511437
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 






E-M Dimitriadis
Director

Date: 20 August 2024

The notes on pages 4 to 9 form part of these financial statements.

Page 2

 
THE CONDUIT CONNECT LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023


Called up share capital
Share premium account
Share based payment reserve
Profit and loss account
Total equity

£
£
£
£
£


At 1 January 2022
32,622
836,512
747,838
(1,677,000)
(60,028)


Comprehensive loss for the year

Loss for the year
-
-
-
(104,387)
(104,387)


Contributions by and distributions to owners

Shares issued during the year
4,557
405,573
-
-
410,130



At 1 January 2023
37,179
1,242,085
747,838
(1,781,387)
245,715


Comprehensive income for the year

Loss for the year
-
-
-
(401,977)
(401,977)


At 31 December 2023
37,179
1,242,085
747,838
(2,183,364)
(156,262)


Page 3

 
THE CONDUIT CONNECT LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

The Conduit Connect Limited is a private company, limited by shares, domiciled and incorporated in England and Wales (registered number: 11511437). The registered office address is Labs 90 High Holborn, Unit 4.46, London, England, WC1V 6LJ.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The Company has net current liabilities of £139,945 (2022 - net current assets of £271,103). The directors have reviewed cashflow forecasts for the 12 month period from the date of sign off and believe the company to be a going concern.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Page 4

 
THE CONDUIT CONNECT LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.4

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment
-
33%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 5

 
THE CONDUIT CONNECT LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

Financial instruments

Financial assets and financial liabilities are recognised in the Balance Sheet when the Company becomes a party to the contractual provisions of the instrument. 
Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the Company will not be able to collect all amounts due.
Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank, short-term bank deposits with an original maturity of three months or less and bank overdrafts which are an integral part of the Company’s cash management.
Financial liabilities and equity instruments issued by the Company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities. Equity instruments issued by the Company are recorded at the proceeds received, net of direct issue costs.

 
2.9

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 7 (2022 - 7).

Page 6

 
THE CONDUIT CONNECT LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Tangible fixed assets





Office equipment

£



Cost


At 1 January 2023
8,533


Additions
1,600



At 31 December 2023

10,133



Depreciation


At 1 January 2023
5,218


Charge for the year
1,858



At 31 December 2023

7,076



Net book value



At 31 December 2023
3,057



At 31 December 2022
3,315

Page 7

 
THE CONDUIT CONNECT LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Debtors

2023
2022
£
£


Trade debtors
22,456
30,464

Other debtors
7,440
-

Prepayments and accrued income
20,227
74,824

50,123
105,288



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
9,330
9,100

Other loans
415,150
-

Trade creditors
20,838
31,139

Other taxation and social security
18,086
26,299

Other creditors
211
-

Accruals and deferred income
112,735
113,426

576,350
179,964



7.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
19,374
28,703


Page 8

 
THE CONDUIT CONNECT LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

8.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
9,330
9,100

Other loans
415,150
-

Amounts falling due 1-2 years

Bank loans
9,566
9,330

Amounts falling due 2-5 years

Bank loans
9,808
19,373


443,854
37,803



9.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



18,494 Ordinary shares of £1.00 each
18,494
18,494
18,685 Preference shares of £1.00 each
18,685
18,685

37,179

37,179


 
Page 9