IRIS Accounts Production v24.2.0.383 04338372 director 1.12.22 31.12.23 31.12.23 false true false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh043383722022-11-30043383722023-12-31043383722022-12-012023-12-31043383722021-11-30043383722021-12-012022-11-30043383722022-11-3004338372ns15:EnglandWales2022-12-012023-12-3104338372ns14:PoundSterling2022-12-012023-12-3104338372ns10:Director12022-12-012023-12-3104338372ns10:PrivateLimitedCompanyLtd2022-12-012023-12-3104338372ns10:SmallEntities2022-12-012023-12-3104338372ns10:AuditExempt-NoAccountantsReport2022-12-012023-12-3104338372ns10:SmallCompaniesRegimeForDirectorsReport2022-12-012023-12-3104338372ns10:SmallCompaniesRegimeForAccounts2022-12-012023-12-3104338372ns10:FullAccounts2022-12-012023-12-3104338372ns10:OrdinaryShareClass12022-12-012023-12-3104338372ns10:RegisteredOffice2022-12-012023-12-3104338372ns5:CurrentFinancialInstruments2023-12-3104338372ns5:CurrentFinancialInstruments2022-11-3004338372ns5:ShareCapital2023-12-3104338372ns5:ShareCapital2022-11-3004338372ns5:RetainedEarningsAccumulatedLosses2023-12-3104338372ns5:RetainedEarningsAccumulatedLosses2022-11-3004338372ns5:PlantMachinery2022-12-012023-12-3104338372ns5:FurnitureFittings2022-12-012023-12-3104338372ns5:MotorVehicles2022-12-012023-12-3104338372ns5:LandBuildings2022-11-3004338372ns5:PlantMachinery2022-11-3004338372ns5:FurnitureFittings2022-11-3004338372ns5:MotorVehicles2022-11-3004338372ns5:LandBuildings2022-12-012023-12-3104338372ns5:LandBuildings2023-12-3104338372ns5:PlantMachinery2023-12-3104338372ns5:FurnitureFittings2023-12-3104338372ns5:MotorVehicles2023-12-3104338372ns5:LandBuildings2022-11-3004338372ns5:PlantMachinery2022-11-3004338372ns5:FurnitureFittings2022-11-3004338372ns5:MotorVehicles2022-11-3004338372ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3104338372ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-11-3004338372ns10:OrdinaryShareClass12023-12-31
REGISTERED NUMBER: 04338372 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 DECEMBER 2022 TO 31 DECEMBER 2023

FOR

CONNECT STORAGE SYSTEMS LIMITED

CONNECT STORAGE SYSTEMS LIMITED (REGISTERED NUMBER: 04338372)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 DECEMBER 2022 TO 31 DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


CONNECT STORAGE SYSTEMS LIMITED

COMPANY INFORMATION
FOR THE PERIOD 1 DECEMBER 2022 TO 31 DECEMBER 2023







DIRECTOR: S W Keppler





REGISTERED OFFICE: Unit 36 Dawkins Road Industrial Estate
Poole
Dorset
BH15 4JD





REGISTERED NUMBER: 04338372 (England and Wales)





ACCOUNTANTS: EV Accountants Limited
Chartered Accountants
Unit 201, Second Floor
Metroline House
118-122 College Road
Harrow
Middlesex
HA1 1BQ

CONNECT STORAGE SYSTEMS LIMITED (REGISTERED NUMBER: 04338372)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 286,600 317,547

CURRENT ASSETS
Stocks 3,359 -
Debtors 5 1,966,554 445,493
Cash at bank and in hand 187,444 702,425
2,157,357 1,147,918
CREDITORS
Amounts falling due within one year 6 1,090,945 341,540
NET CURRENT ASSETS 1,066,412 806,378
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,353,012

1,123,925

PROVISIONS FOR LIABILITIES 5,238 9,435
NET ASSETS 1,347,774 1,114,490

CAPITAL AND RESERVES
Called up share capital 7 100 100
Retained earnings 1,347,674 1,114,390
SHAREHOLDERS' FUNDS 1,347,774 1,114,490

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 13 September 2024 and were signed by:





S W Keppler - Director


CONNECT STORAGE SYSTEMS LIMITED (REGISTERED NUMBER: 04338372)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 DECEMBER 2022 TO 31 DECEMBER 2023

1. STATUTORY INFORMATION

Connect Storage Systems Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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 historical cost convention.

Going concern
The financial statements have been prepared on the going concern basis and the directors confirm their belief in the company's ability to continue as a going concern for a period of at least twelve months from the date of approval of these financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover represents net invoiced sales of storage systems supplied and installed, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

The directors consider that freehold properties are maintained in such a state of repair that their residual value is at least equal to the net book value. As a result, the corresponding depreciation charge for the year is £Nil. The directors perform annual impairment reviews to ensure that the recoverable amount is not lower than the carrying value.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

CONNECT STORAGE SYSTEMS LIMITED (REGISTERED NUMBER: 04338372)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 DECEMBER 2022 TO 31 DECEMBER 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provision of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issue' of FRS 102 to all of its financial instruments. Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year not amortised.

Clarification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at an amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

CONNECT STORAGE SYSTEMS LIMITED (REGISTERED NUMBER: 04338372)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 DECEMBER 2022 TO 31 DECEMBER 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 10 (2022 - 9 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 December 2022 214,345 19,805 69,480 165,874 469,504
Additions - - 5,318 35,500 40,818
Disposals - - - (88,490 ) (88,490 )
At 31 December 2023 214,345 19,805 74,798 112,884 421,832
DEPRECIATION
At 1 December 2022 - 17,177 61,807 72,973 151,957
Charge for period - 426 2,673 32,048 35,147
Eliminated on disposal - - - (51,872 ) (51,872 )
At 31 December 2023 - 17,603 64,480 53,149 135,232
NET BOOK VALUE
At 31 December 2023 214,345 2,202 10,318 59,735 286,600
At 30 November 2022 214,345 2,628 7,673 92,901 317,547

The company has invoice discounting facility which is secured by way of a legal charge over the company's freehold property at Unit 36, Dawkins Road Industrial Estates, Poole, Dorset.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 448,639 420,925
Amounts owed by group undertakings 1,498,539 -
Other debtors 19,376 24,568
1,966,554 445,493

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 300,000 -
Trade creditors 190,814 227,252
Taxation and social security 195,674 105,540
Other creditors 404,457 8,748
1,090,945 341,540

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1.00 100 100

CONNECT STORAGE SYSTEMS LIMITED (REGISTERED NUMBER: 04338372)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 DECEMBER 2022 TO 31 DECEMBER 2023

8. ULTIMATE CONTROLLING PARTY

The controlling party is CSS Holdings Limited.

The immediate parent company is CSS Holdings Limited whose registered office is Unit 36, Dawkins Road Industrial Estate, Poole, Dorset, England, BH15 4JD.

The ultimate parent company from 4 January 2024 is Infinity Holdings Group Limited, whose registered office
is Unit 36, Dawkins Road Industrial Estate, Poole, Dorset, England, BH15 4JD.

The ultimate controlling party is S W Keppler, who is a director and majority shareholder of Infinity Holdings
Group Limited.