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Registered number: OC302554
Connected-UK.com LLP
Unaudited Financial Statements
For the Period 1 August 2023 to 31 March 2024
Adams Accountancy
Chartered Accountants
Heritage House, 34b North Cray Road
Bexley
Kent
DA5 3LZ
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: OC302554
31 March 2024 31 July 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 49,496 55,650
49,496 55,650
CURRENT ASSETS
Debtors 5 9,136 6,622
Cash at bank and in hand 71,220 51,786
80,356 58,408
Creditors: Amounts Falling Due Within One Year 6 (32,625 ) (25,553 )
NET CURRENT ASSETS (LIABILITIES) 47,731 32,855
TOTAL ASSETS LESS CURRENT LIABILITIES 97,227 88,505
NET ASSETS ATTRIBUTABLE TO MEMBERS 97,227 88,505
REPRESENTED BY:
Loans and other debts due to members within one year
Other amounts 97,227 88,505
97,227 88,505
97,227 88,505
TOTAL MEMBERS' INTEREST
Loans and other debts due to members within one year 97,227 88,505
97,227 88,505
Page 1
Page 2
For the period ending 31 March 2024 the LLP was entitled to exemption from audit under section 477 of the Companies Act 2006 (as applied by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 applicable to LLPs subject to the small LLPs regime.)
The members acknowledge their responsibilities for complying with the requirements of the Act (as applied to LLPs) with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.
The LLP has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the LLP's Profit and Loss Account.
On behalf of the members
Mr Martin Dower
Partner
06/09/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Connected-UK.com LLP is a limited liability partnership, incorporated in England & Wales, registered number OC302554 . The Registered Office is Heritage House, 34b North Cray Road, Bexley, Kent, DA5 3LZ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 for small limited liability partnerships regime - The Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), The Statement of Recommended Practice 'Accounting by Limited Liability Partnerships' issued in December 2021 (SORP) and the Companies Act 2006 (as applied to LLPs).
The financial statements are prepared in sterling which is the functional currency of the LLP.
2.2. Significant judgements and estimations
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported.  These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 33% of Cost
Motor Vehicles 25% Written Down Value
Fixtures & Fittings 15% Written Down Value
2.5. Financial Instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.  Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest or a similar debt instrument.  Debt instruments are subsequently measured at amortised cost.  Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss.  All other such investments are subsequently measured at cost less impairment.  Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.  Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date.  If there I objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.  For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assed individually for impairment.  Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.  Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Page 3
Page 4
3. Average Number of Employees
Average number of employees, including members with contracts of employment, during the period was: NIL (2023: NIL)
- -
4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 August 2023 44,392 180,582 17,570 242,544
Additions 4,990 - - 4,990
As at 31 March 2024 49,382 180,582 17,570 247,534
Depreciation
As at 1 August 2023 41,065 128,259 17,570 186,894
Provided during the period 2,423 8,721 - 11,144
As at 31 March 2024 43,488 136,980 17,570 198,038
Net Book Value
As at 31 March 2024 5,894 43,602 - 49,496
As at 1 August 2023 3,327 52,323 - 55,650
5. Debtors
31 March 2024 31 July 2023
£ £
Due within one year
Trade debtors 7,444 5,949
Other debtors 1,692 673
9,136 6,622
6. Creditors: Amounts Falling Due Within One Year
31 March 2024 31 July 2023
£ £
Trade creditors 5,500 7,024
Other creditors 4,902 5,916
Taxation and social security 22,223 12,613
32,625 25,553
Page 4