CONNECT HUT LTD

Company Registration Number:
11744820 (England and Wales)

Unaudited statutory accounts for the year ended 31 December 2023

Period of accounts

Start date: 1 January 2023

End date: 31 December 2023

CONNECT HUT LTD

Contents of the Financial Statements

for the Period Ended 31 December 2023

Profit and loss
Balance sheet
Additional notes
Balance sheet notes

CONNECT HUT LTD

Profit And Loss Account

for the Period Ended 31 December 2023

2023 2022


£

£
Turnover: 4,328,490 3,369,281
Cost of sales: ( 2,943,373 ) ( 2,377,955 )
Gross profit(or loss): 1,385,117 991,326
Distribution costs: ( 146,281 ) ( 155,598 )
Administrative expenses: ( 453,928 ) ( 422,897 )
Operating profit(or loss): 784,908 412,831
Profit(or loss) before tax: 784,908 412,831
Tax: ( 149,132 ) ( 78,437 )
Profit(or loss) for the financial year: 635,776 334,394

CONNECT HUT LTD

Balance sheet

As at 31 December 2023

Notes 2023 2022


£

£
Fixed assets
Tangible assets: 3 443,167 284,922
Total fixed assets: 443,167 284,922
Current assets
Stocks: 4 463,529 261,520
Debtors: 5 569,120 374,927
Cash at bank and in hand: 193,726 72,640
Total current assets: 1,226,375 709,087
Creditors: amounts falling due within one year: 6 ( 157,039 ) ( 117,283 )
Net current assets (liabilities): 1,069,336 591,804
Total assets less current liabilities: 1,512,503 876,726
Total net assets (liabilities): 1,512,503 876,726
Capital and reserves
Called up share capital: 1 1
Profit and loss account: 1,512,502 876,725
Total Shareholders' funds: 1,512,503 876,726

The notes form part of these financial statements

CONNECT HUT LTD

Balance sheet statements

For the year ending 31 December 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 10 November 2024
and signed on behalf of the board by:

Name: Grzegorz Wlizlo
Status: Director

The notes form part of these financial statements

CONNECT HUT LTD

Notes to the Financial Statements

for the Period Ended 31 December 2023

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    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. When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

    Tangible fixed assets depreciation policy

    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 basis: Plant and Equipment 10% Furniture and Fittings 15% Motor Vehicles 20% Office Equipment 20% Land and Buildings 0%

CONNECT HUT LTD

Notes to the Financial Statements

for the Period Ended 31 December 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 12 10

CONNECT HUT LTD

Notes to the Financial Statements

for the Period Ended 31 December 2023

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 January 2023 86,399 59,053 62,337 163,995 371,784
Additions 13,983 45,938 52,982 158,740 271,643
Disposals
Revaluations
Transfers
At 31 December 2023 100,382 104,991 115,319 322,735 643,427
Depreciation
At 1 January 2023 14,492 16,547 17,786 38,037 86,862
Charge for year 10,038 15,749 23,064 64,547 113,398
On disposals
Other adjustments
At 31 December 2023 24,530 32,296 40,850 102,584 200,260
Net book value
At 31 December 2023 75,852 72,695 74,469 220,151 443,167
At 31 December 2022 71,907 42,506 44,551 125,958 284,922

CONNECT HUT LTD

Notes to the Financial Statements

for the Period Ended 31 December 2023

4. Stocks

2023 2022
£ £
Stocks 463,529 261,520
Total 463,529 261,520

CONNECT HUT LTD

Notes to the Financial Statements

for the Period Ended 31 December 2023

5. Debtors

2023 2022
£ £
Trade debtors 569,120 374,927
Total 569,120 374,927

CONNECT HUT LTD

Notes to the Financial Statements

for the Period Ended 31 December 2023

6. Creditors: amounts falling due within one year note

2023 2022
£ £
Trade creditors 91,556 88,527
Taxation and social security 65,483 28,756
Total 157,039 117,283