Caseware UK (AP4) 2023.0.135 2023.0.135 2023-11-302023-11-30falseNo description of principal activity2022-12-011010truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 02993073 2022-12-01 2023-11-30 02993073 2021-12-01 2022-11-30 02993073 2023-11-30 02993073 2022-11-30 02993073 c:Director1 2022-12-01 2023-11-30 02993073 d:MotorVehicles 2022-12-01 2023-11-30 02993073 d:MotorVehicles 2023-11-30 02993073 d:MotorVehicles 2022-11-30 02993073 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 02993073 d:OfficeEquipment 2022-12-01 2023-11-30 02993073 d:OfficeEquipment 2023-11-30 02993073 d:OfficeEquipment 2022-11-30 02993073 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 02993073 d:ComputerEquipment 2022-12-01 2023-11-30 02993073 d:ComputerEquipment 2023-11-30 02993073 d:ComputerEquipment 2022-11-30 02993073 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 02993073 d:OwnedOrFreeholdAssets 2022-12-01 2023-11-30 02993073 d:CurrentFinancialInstruments 2023-11-30 02993073 d:CurrentFinancialInstruments 2022-11-30 02993073 d:CurrentFinancialInstruments d:WithinOneYear 2023-11-30 02993073 d:CurrentFinancialInstruments d:WithinOneYear 2022-11-30 02993073 d:ShareCapital 2023-11-30 02993073 d:ShareCapital 2022-11-30 02993073 d:RetainedEarningsAccumulatedLosses 2023-11-30 02993073 d:RetainedEarningsAccumulatedLosses 2022-11-30 02993073 c:OrdinaryShareClass1 2022-12-01 2023-11-30 02993073 c:OrdinaryShareClass1 2023-11-30 02993073 c:OrdinaryShareClass1 2022-11-30 02993073 c:FRS102 2022-12-01 2023-11-30 02993073 c:AuditExempt-NoAccountantsReport 2022-12-01 2023-11-30 02993073 c:FullAccounts 2022-12-01 2023-11-30 02993073 c:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 02993073 d:AcceleratedTaxDepreciationDeferredTax 2023-11-30 02993073 d:AcceleratedTaxDepreciationDeferredTax 2022-11-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 02993073










CONNEXION LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 NOVEMBER 2023

 
CONNEXION LIMITED
REGISTERED NUMBER: 02993073

BALANCE SHEET
AS AT 30 NOVEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
14,052
11,900

  
14,052
11,900

Current assets
  

Stocks
  
618
-

Debtors: amounts falling due within one year
 6 
191,841
184,349

Cash at bank and in hand
 7 
416,066
335,892

  
608,525
520,241

Creditors: amounts falling due within one year
 8 
(228,769)
(174,808)

Net current assets
  
 
 
379,756
 
 
345,433

Total assets less current liabilities
  
393,808
357,333

Provisions for liabilities
  

Deferred tax
 9 
(3,340)
(2,398)

  
 
 
(3,340)
 
 
(2,398)

Net assets
  
390,468
354,935


Capital and reserves
  

Called up share capital 
 10 
110
110

Profit and loss account
  
390,358
354,825

  
390,468
354,935


The director considers 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 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 financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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: 



Page 1

 
CONNEXION LIMITED
REGISTERED NUMBER: 02993073

BALANCE SHEET (CONTINUED)
AS AT 30 NOVEMBER 2023


J A Stratton
Director

Date: 2 September 2024

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
CONNEXION LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1.


General information

Connexion Limited is a private company limited by shares, incorporated in England and Wales. The address of its registered office is Reading Bridge House, George Street, Reading, Berkshire, RG1 8LS.  

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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue 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 revenue is recognised:

Rendering of services

Revenue 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 revenue 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.

 
2.3

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.

Page 3

 
CONNEXION LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)


2.3
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Motor vehicles
-
25%
Office equipment
-
25%
Computer equipment
-
25%

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.

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
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

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.

 
2.7

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 4

 
CONNEXION LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.11

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.

 
2.12

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.

 
2.13

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


3.


Employees

The average monthly number of employees, including directors, during the year was 10 (2022 - 10).

Page 5

 
CONNEXION LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

4.


Tangible fixed assets





Motor vehicles
Office equipment
Computer equipment
Total

£
£
£
£



Cost or valuation


At 1 December 2022
4,600
33,799
66,816
105,215


Additions
-
-
5,727
5,727



At 30 November 2023

4,600
33,799
72,543
110,942



Depreciation


At 1 December 2022
3,824
32,779
56,712
93,315


Charge for the year on owned assets
194
254
3,127
3,575



At 30 November 2023

4,018
33,033
59,839
96,890



Net book value



At 30 November 2023
582
766
12,704
14,052



At 30 November 2022
776
1,020
10,104
11,900


5.


Stocks

2023
2022
£
£

Finished goods and goods for resale
618
-

618
-


Page 6

 
CONNEXION LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

6.


Debtors

2023
2022
£
£


Trade debtors
136,551
152,225

Other debtors
15,763
8,002

Prepayments and accrued income
39,527
24,122

191,841
184,349



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
416,066
335,892

416,066
335,892



8.


Creditors: amounts falling due within one year

2023
2022
£
£

Trade creditors
39,970
31,661

Corporation tax
67,725
29,710

Other taxation and social security
45,258
49,437

Other creditors
20,026
8,444

Accruals and deferred income
55,790
55,556

228,769
174,808



9.


Deferred taxation




2023


£






At beginning of year
(2,398)


Charged to profit or loss
(942)



At end of year
(3,340)

Page 7

 
CONNEXION LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023
 
9.Deferred taxation (continued)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(3,340)
(2,398)


10.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



110 (2022 - 110) Ordinary shares of £1.00 each
110
110



11.


Pension commitments

The Company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £45,449 (2022 - £126,226) and there was no pension liability due from the Company as at the year end (2022 - £NIL).


12.


Related party transactions

Included within debtors, is a balance of £5,182 (2022 - £3,010) owed by the director. These loans are unsecured, interest and repayable on demand.


13.


Controlling party

The ultimate controlling party is J Stratton due to his 89% (2022 - 89%) shareholding.


Page 8