Company registration number 13530137 (England and Wales)
CONNECTIONS HUB LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
PAGES FOR FILING WITH REGISTRAR
CONNECTIONS HUB LIMITED
CONTENTS
Page
Directors' report
1
Accountants' report
2
Statement of financial position
3 - 4
Notes to the financial statements
5 - 7
CONNECTIONS HUB LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 JULY 2024
- 1 -
The directors present their annual report and financial statements for the year ended 31 July 2024.
Principal activities
The principal activity of the company continued to be that of recreational activities for the disabled.
Directors
The directors who held office during the year and up to the date of signature of the financial statements were as follows:
Mr JN Nixon
Mrs PM Nixon
Small companies exemption
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
On behalf of the board
Mr JN Nixon
Mrs PM Nixon
Director
Director
22 October 2024
CONNECTIONS HUB LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF CONNECTIONS HUB LIMITED FOR THE YEAR ENDED 31 JULY 2024
- 2 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Connections Hub Limited for the year ended 31 July 2024 which comprise, the statement of financial position and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.
This report is made solely to the board of directors of Connections Hub Limited, as a body, in accordance with the terms of our engagement letter dated 11 August 2021. Our work has been undertaken solely to prepare for your approval the financial statements of Connections Hub Limited and state those matters that we have agreed to state to the board of directors of Connections Hub Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Connections Hub Limited and its board of directors as a body, for our work or for this report.
It is your duty to ensure that Connections Hub Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Connections Hub Limited. You consider that Connections Hub Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Connections Hub Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
HSKS Greenhalgh Ltd
22 October 2024
HSKS Greenhalgh Ltd is part of the Dains Group
St George's House
19 Church Street
Uttoxeter
ST14 8AG
CONNECTIONS HUB LIMITED
STATEMENT OF FINANCIAL POSITION
- 3 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
594
343
Tangible assets
4
18,751
22,035
19,345
22,378
Current assets
Debtors
29,927
10,166
Cash at bank and in hand
43,280
23,067
73,207
33,233
Creditors: amounts falling due within one year
(89,966)
(52,166)
Net current liabilities
(16,759)
(18,933)
Total assets less current liabilities
2,586
3,445
Provisions for liabilities
(1,875)
(2,380)
Net assets
711
1,065
Capital and reserves
Called up share capital
5
100
100
Profit and loss reserves
611
965
Total equity
711
1,065
In accordance with section 444 of the Companies Act 2006, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).
The directors of the company have elected not to include a copy of the income statement within the financial statements.true
For the financial year ended 31 July 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.
CONNECTIONS HUB LIMITED
STATEMENT OF FINANCIAL POSITION (CONTINUED)
- 4 -
The financial statements were approved by the board of directors and authorised for issue on 22 October 2024 and are signed on its behalf by:
Mr JN Nixon
Mrs PM Nixon
Director
Director
Company registration number 13530137 (England and Wales)
CONNECTIONS HUB LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
- 5 -
1
Accounting policies
Company information
Connections Hub Limited is a private company limited by shares incorporated in England and Wales. The registered office is 60 Stone Road, Uttoxeter, Staffordshire, ST14 7QW.
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 are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.3
Intangible fixed assets other than goodwill
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.
Patents & licences
20% reducing balance
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and machinery
20% reducing balance
Fixtures and fittings
20% reducing balance
Computer equipment
15% reducing balance
Motor vehicles
20% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.5
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
CONNECTIONS HUB LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
1
Accounting policies
(Continued)
- 6 -
1.6
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement 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.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
2
2
3
Intangible fixed assets
Total
£
Cost
At 1 August 2023
429
Additions
399
At 31 July 2024
828
Amortisation and impairment
At 1 August 2023
86
Amortisation charged for the year
148
At 31 July 2024
234
Carrying amount
At 31 July 2024
594
At 31 July 2023
343
CONNECTIONS HUB LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 7 -
4
Tangible fixed assets
Total
£
Cost
At 1 August 2023
32,142
Additions
682
At 31 July 2024
32,824
Depreciation and impairment
At 1 August 2023
10,107
Depreciation charged in the year
3,966
At 31 July 2024
14,073
Carrying amount
At 31 July 2024
18,751
At 31 July 2023
22,035
5
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
100
100
100
100