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REGISTERED NUMBER: 06321664 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 July 2024

for

Konnect Services Limited

Konnect Services Limited (Registered number: 06321664)






Contents of the Financial Statements
for the Year Ended 31 July 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Konnect Services Limited

Company Information
for the Year Ended 31 July 2024







DIRECTOR: Mr J C Connolly





REGISTERED OFFICE: 17 City North Place,
London
N4 3FU





REGISTERED NUMBER: 06321664 (England and Wales)





ACCOUNTANTS: Simply Accountants Ltd
54 Hundred Acres Lane
Amersham
Buckinghamshire
HP7 9BX

Konnect Services Limited (Registered number: 06321664)

Balance Sheet
31 July 2024

31.7.24 31.7.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 43,771 30,796

CURRENT ASSETS
Stocks 138,000 130,000
Debtors 5 578,671 182,492
Cash at bank and in hand 521,541 228,336
1,238,212 540,828
CREDITORS
Amounts falling due within one year 6 866,153 424,855
NET CURRENT ASSETS 372,059 115,973
TOTAL ASSETS LESS CURRENT
LIABILITIES

415,830

146,769

PROVISIONS FOR LIABILITIES 7,147 2,935
NET ASSETS 408,683 143,834

CAPITAL AND RESERVES
Called up share capital 7 100 100
Retained earnings 8 408,583 143,734
SHAREHOLDERS' FUNDS 408,683 143,834

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 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 8 October 2024 and were signed by:



Mr J C Connolly - Director


Konnect Services Limited (Registered number: 06321664)

Notes to the Financial Statements
for the Year Ended 31 July 2024

1. STATUTORY INFORMATION

Konnect Services 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

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

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 - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year 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 year 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.

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.

Konnect Services Limited (Registered number: 06321664)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 8 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 August 2023 2,920 113,110 19,277 135,307
Additions - 21,500 6,653 28,153
Disposals - (40,885 ) - (40,885 )
At 31 July 2024 2,920 93,725 25,930 122,575
DEPRECIATION
At 1 August 2023 2,605 87,352 14,554 104,511
Charge for year 79 11,667 2,844 14,590
Eliminated on disposal - (40,297 ) - (40,297 )
At 31 July 2024 2,684 58,722 17,398 78,804
NET BOOK VALUE
At 31 July 2024 236 35,003 8,532 43,771
At 31 July 2023 315 25,758 4,723 30,796

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade debtors 191,075 111,251
Amounts owed by group undertakings - 5,543
Other debtors 173,316 -
VAT 206,806 65,698
Prepayments and accrued income 7,474 -
578,671 182,492

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.24 31.7.23
£    £   
Trade creditors 456,674 365,566
Amounts owed to group undertakings 8,257 -
Taxation and social security 270,963 25,597
Other creditors 130,259 33,692
866,153 424,855

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.7.24 31.7.23
value: £    £   
100 Ordinary 1 100 100

Konnect Services Limited (Registered number: 06321664)

Notes to the Financial Statements - continued
for the Year Ended 31 July 2024

8. RESERVES
Retained
earnings
£   

At 1 August 2023 143,734
Profit for the year 331,349
Dividends (66,500 )
At 31 July 2024 408,583