Registered number
11171334
Connected Executive Travel Limited
Filleted Accounts
31 January 2024
Connected Executive Travel Limited
Registered number: 11171334
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 77,478 56,146
Current assets
Debtors 4 30,402 17,606
Cash at bank and in hand 17,121 27,585
47,523 45,191
Creditors: amounts falling due within one year 5 (43,766) (52,118)
Net current assets/(liabilities) 3,757 (6,927)
Total assets less current liabilities 81,235 49,219
Creditors: amounts falling due after more than one year 6 (35,673) (5,049)
Net assets 45,562 44,170
Capital and reserves
Called up share capital 100 100
Profit and loss account 45,462 44,070
Shareholder's funds 45,562 44,170
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
D Strudwicke
Director
Approved by the board on 25 October 2024
Connected Executive Travel Limited
Notes to the Accounts
for the year ended 31 January 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Fixtures & fittings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 February 2023 1,457 433 116,279 118,169
Additions - - 58,667 58,667
Disposals - - (26,000) (26,000)
At 31 January 2024 1,457 433 148,946 150,836
Depreciation
At 1 February 2023 582 433 61,008 62,023
Charge for the year 291 - 28,811 29,102
On disposals - - (17,767) (17,767)
At 31 January 2024 873 433 72,052 73,358
Net book value
At 31 January 2024 584 - 76,894 77,478
At 31 January 2023 875 - 55,271 56,146
4 Debtors 2024 2023
£ £
Trade debtors 25,159 14,532
Other debtors 5,243 3,074
30,402 17,606
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 2,595 7,209
Obligations under finance lease and hire purchase contracts 12,055 9,362
Taxation and social security costs 21,961 27,367
Other creditors 7,155 8,180
43,766 52,118
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 4,615 2,966
Obligations under finance lease and hire purchase contracts 31,058 2,083
35,673 5,049
7 Other information
Connected Executive Travel Limited is a private company limited by shares and incorporated in England. Its registered office is:
102 Tettenhall Road
Wolverhampton
West Midlands
WV6 0BW
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