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Connecting Commerce Limited
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Notes to the financial statements
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for the year ended 31 December 2023
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1
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Company information
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The company is registered in England and Wales. Its registered number is 07895738. The company is
limited by shares. Its registered office is Birches Corner, Heron Gate, Taunton, TA1 2LP.
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2
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Accounting policies
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Basis of preparing the financial statements
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These financial statements have been prepared in accordance with Financial Reporting Standard 102
“The Financial Reporting Standard applicable in the UK and Republic of Ireland” including the
provisions of Section 1A “Small Entities” and the Companies Act 2006. The financial statements have
been prepared under the historic cost convention.
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Going concern
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In preparing these financial statements, the director has assessed whether there are any material
uncertainties related to events or conditions that cast significant doubt upon the company's ability to
continue as a going concern. In making this assessment, the director takes into account all available
information about the future which is at least 12 months from the date that the financial statements are
authorised for issue.
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The director considers that the company has adequate resources to continue in business for the
foreseeable future and that it is appropriate to adopt the going concern basis in preparing the financial
statements.
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Turnover
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Turnover is measured at the fair value of the consideration received or receivable, excluding discounts,
rebates, Value Added Tax and other sales taxes.
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Intangible assets
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Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured
at cost less any accumulated amortisation and any accumulated impairment losses.
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Amortisation is provided at the following annual rates in order to write off each asset over its estimated
useful life.
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Development costs
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In the research phase of an internal project it is not
possible to demonstrate that the project will
generate future economic benefits and hence all
expenditure on research shall be recognised
as an expense when it is incurred. Intangible assets are
recognised from the development phase
of a project if and only if certain specific criteria are met
in order to demonstrate the asset will
generate probable future economic benefits and that its
cost can be reliably measured. The
capitalised development costs are subsequently amorti
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3
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