Company Registration No. 12415053 (England and Wales)
DAY 1 CONNECTIVITY LTD
ABRIDGED ACCOUNTS
FOR THE YEAR ENDED 31 JANUARY 2024
DAY 1 CONNECTIVITY LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
DAY 1 CONNECTIVITY LTD
BALANCE SHEET
AS AT 31 JANUARY 2024
31 January 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
6
488
651
Investments
7
10,956
10,000
11,444
10,651
Current assets
Debtors
8
32,979
20,812
Cash at bank and in hand
28,675
24,676
61,654
45,488
Creditors: amounts falling due within one year
9
(68,095)
(45,581)
Net current liabilities
(6,441)
(93)
Total assets less current liabilities
5,003
10,558
Creditors: amounts falling due after more than one year
10
(5,137)
(9,048)
Net (liabilities)/assets
(134)
1,510
Capital and reserves
Called up share capital
8,000
8,000
Profit and loss reserves
(8,134)
(6,490)
Total equity
(134)
1,510
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
DAY 1 CONNECTIVITY LTD
BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2024
31 January 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 2 October 2024 and are signed on its behalf by:
W P Hampton
Director
Company Registration No. 12415053
DAY 1 CONNECTIVITY LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
- 3 -
1
Accounting policies
Company information
Day 1 Connectivity Ltd is a private company limited by shares incorporated in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
The validity of going concern basis of preparation is dependent on continued financial support from the company's director and other creditors and on the ability of the company to continue trading. Should the director and other creditors withdraw their support and the company be unable to continue trading, adjustments would have to be made to reduce the value of assets to their recoverable amounts, to provide for any further liabilities that might arise and re-classify fixed assets as current assets.true
1.3
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
1.4
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Furniture, fixtures and equipment
25% reducing balance
Computer equipment
33% straight line
1.5
Taxation
The tax expense represents corporation tax currently payable during the year.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
2
Operating profit
2024
2023
Operating profit for the year is stated after charging:
£
£
Depreciation of owned tangible fixed assets
163
1,267
DAY 1 CONNECTIVITY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 4 -
3
Employees
The average number of employees during the year was 2 (2023 - 2).
4
Taxation
2024
2023
£
£
Current tax
UK corporation tax on profits for the current period
28,134
21,094
5
Dividends
2024
2023
£
£
Ordinary shares of £1 each
Interim paid
97,000
107,890
6
Tangible fixed assets
Furniture, fixtures and equipment
Computer equipment
Total
£
£
£
Cost
At 1 February 2023 and 31 January 2024
1,158
3,150
4,308
Depreciation and impairment
At 1 February 2023
507
3,150
3,657
Depreciation charged in the year
163
163
At 31 January 2024
670
3,150
3,820
Carrying amount
At 31 January 2024
488
488
At 31 January 2023
651
651
7
Fixed asset investments
2024
2023
£
£
Unlisted investments
10,956
10,000
DAY 1 CONNECTIVITY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
7
Fixed asset investments
(Continued)
- 5 -
Movements in fixed asset investments
Other investments
£
Cost or valuation
At 1 February 2023
10,000
Additions
956
At 31 January 2024
10,956
Carrying amount
At 31 January 2024
10,956
At 31 January 2023
10,000
8
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
32,227
20,060
Other debtors
248
248
Prepayments
504
504
32,979
20,812
9
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
5,890
3,987
Payments received in advance
495
Trade creditors
6,457
6,007
Corporation tax
28,134
21,094
Other taxation and social security
13,799
9,350
Directors' current accounts
8,627
3,263
Accruals
4,693
1,880
68,095
45,581
DAY 1 CONNECTIVITY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 6 -
10
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans - 1-2 years
3,987
3,987
Bank loans - 2-5 years
1,150
5,061
5,137
9,048