Connective Technologies Limited
Annual Report and Unaudited Financial Statements
For the year ended 30 April 2024
Pages for filing with Registrar
Company Registration No. 08460651 (England and Wales)
Connective Technologies Limited
Company Information
Director
V Novak
Company number
08460651
Registered office
Orbital House
20 Eastern Road
Romford
Essex
RM1 3PJ
Accountants
Moore Kingston Smith LLP
Orbital House
20 Eastern Road
Romford
Essex
RM1 3PJ
Connective Technologies Limited
Contents
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
Connective Technologies Limited
Balance Sheet
As at 30 April 2024
Page 1
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
5,546
7,165
Investments
4
100
100
5,646
7,265
Current assets
Debtors
5
34,958
39,643
Cash at bank and in hand
118,386
86,186
153,344
125,829
Creditors: amounts falling due within one year
6
(77,643)
(52,102)
Net current assets
75,701
73,727
Total assets less current liabilities
81,347
80,992
Provisions for liabilities
7
(1,054)
(1,361)
Net assets
80,293
79,631
Capital and reserves
Called up share capital
10
100
100
Capital redemption reserve
100
100
Profit and loss reserves
80,093
79,431
Total equity
80,293
79,631

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has 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.

Connective Technologies Limited
Balance Sheet (Continued)
As at 30 April 2024
Page 2
The financial statements were approved and signed by the director and authorised for issue on 7 November 2024
V Novak
Director
Company Registration No. 08460651
Connective Technologies Limited
Notes to the Financial Statements
For the year ended 30 April 2024
Page 3
1
Accounting policies
Company information

Connective Technologies Limited is a private company limited by shares incorporated in England and Wales. The registered office is Orbital House, 20 Eastern Road, Romford, Essex, RM1 3PJ.

1.1
Accounting convention

These financial statements have been prepared in accordance with Section 1A of 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 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 pound.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the director has a reasonable expectation that thetrue company has adequate resources to continue in operational existence for a period of at least 12 months from the date of signing and for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

1.3
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.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recoverable.

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:

Fixtures, fittings & equipment
20% straight line

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.

Connective Technologies Limited
Notes to the Financial Statements (Continued)
For the year ended 30 April 2024
1
Accounting policies
(Continued)
Page 4
1.5
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.6
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.

1.7
Financial instruments

All of the company's financial assets and liabilities are basic and measured at amortised cost.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
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 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.

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.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.10
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Connective Technologies Limited
Notes to the Financial Statements (Continued)
For the year ended 30 April 2024
Page 5
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
4
3
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 May 2023
10,632
Additions
634
At 30 April 2024
11,266
Depreciation and impairment
At 1 May 2023
3,467
Depreciation charged in the year
2,253
At 30 April 2024
5,720
Carrying amount
At 30 April 2024
5,546
At 30 April 2023
7,165
4
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
100
100
Connective Technologies Limited
Notes to the Financial Statements (Continued)
For the year ended 30 April 2024
Page 6
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
34,958
37,821
Corporation tax recoverable
-
0
1,822
34,958
39,643
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
23,867
12,382
Corporation tax
4,447
2,690
Other taxation and social security
20,357
15,132
Other creditors
17,000
10,000
Accruals and deferred income
11,972
11,898
77,643
52,102
7
Provisions for liabilities
2024
2023
£
£
Deferred tax liabilities
8
1,054
1,361
8
Deferred taxation

Deferred tax assets and liabilities are offset where the company has a legally enforceable right to do so. The following is the analysis of the deferred tax balances (after offset) for financial reporting purposes:

Liabilities
Liabilities
2024
2023
Balances:
£
£
Accelerated capital allowances
1,054
1,361
Connective Technologies Limited
Notes to the Financial Statements (Continued)
For the year ended 30 April 2024
8
Deferred taxation
(Continued)
Page 7
2024
Movements in the year:
£
Liability at 1 May 2023
1,361
Credit to profit or loss
(307)
Liability at 30 April 2024
1,054

The deferred tax liability set out above is expected to reverse in future periods and relates to accelerated capital allowances that are expected to mature within the same period.

9
Retirement benefit schemes
2024
2023
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
2,494
2,060

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

10
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
11
Related party transactions

Other creditors includes £17,000 (2023: £10,000) in respect of sums owed to the director.

 

 

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