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REGISTERED NUMBER: 10423535 (England and Wales)














UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 1 NOVEMBER 2022 TO 31 MARCH 2024

FOR

KINECTED SOLUTIONS LIMITED

KINECTED SOLUTIONS LIMITED (REGISTERED NUMBER: 10423535)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Period 1 November 2022 to 31 March 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3

Chartered Certified Accountants' Report 6

KINECTED SOLUTIONS LIMITED

COMPANY INFORMATION
for the Period 1 November 2022 to 31 March 2024







DIRECTORS: Ms J Goodger
Mr R Jones
Mr D E Skinner
Mr L Spalding





REGISTERED OFFICE: Unit 23 Howard Avenue
Barnstaple
EX32 8QA





REGISTERED NUMBER: 10423535 (England and Wales)





ACCOUNTANTS: Acumen Accountants and Advisors Limited
Bankhead Drive
City South Office Park
Portlethen
Aberdeenshire
AB12 4XX

KINECTED SOLUTIONS LIMITED (REGISTERED NUMBER: 10423535)

STATEMENT OF FINANCIAL POSITION
31 March 2024

2024 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 62,796 119,048

CURRENT ASSETS
Stocks 5 5,185 258,233
Debtors 6 621,793 80,111
Cash at bank 41,659 113,476
668,637 451,820
CREDITORS
Amounts falling due within one year 7 740,794 374,365
NET CURRENT (LIABILITIES)/ASSETS (72,157 ) 77,455
TOTAL ASSETS LESS CURRENT
LIABILITIES

(9,361

)

196,503

CREDITORS
Amounts falling due after more than one year 8 - (93,750 )

PROVISIONS FOR LIABILITIES 9 (11,931 ) (22,619 )
NET (LIABILITIES)/ASSETS (21,292 ) 80,134

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings (22,292 ) 79,134
SHAREHOLDERS' FUNDS (21,292 ) 80,134

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 November 2024 and were signed on its behalf by:





Mr L Spalding - Director


KINECTED SOLUTIONS LIMITED (REGISTERED NUMBER: 10423535)

NOTES TO THE FINANCIAL STATEMENTS
for the Period 1 November 2022 to 31 March 2024

1. STATUTORY INFORMATION

Kinected Solutions Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents net invoiced sales of goods and services, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 33% on cost
Fixtures and fittings - 20% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

KINECTED SOLUTIONS LIMITED (REGISTERED NUMBER: 10423535)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Period 1 November 2022 to 31 March 2024

2. ACCOUNTING POLICIES - continued

Going concern
The directors, having made due and careful enquiry, are of the opinion that the company has adequate working capital to execute its operations over the next 12 months. The director, therefore, has made an informed judgement, at the time of approving the financial statements that there is a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. As a result, the directors have continued to adopt the going concern basis of accounting in preparing the annual financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 5 (2022 - 8 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1 November 2022 185,930 15,086 201,016
Additions 44,922 6,340 51,262
Disposals (36,525 ) (6,340 ) (42,865 )
At 31 March 2024 194,327 15,086 209,413
DEPRECIATION
At 1 November 2022 76,628 5,340 81,968
Charge for period 95,948 3,712 99,660
Eliminated on disposal (34,060 ) (951 ) (35,011 )
At 31 March 2024 138,516 8,101 146,617
NET BOOK VALUE
At 31 March 2024 55,811 6,985 62,796
At 31 October 2022 109,302 9,746 119,048

5. STOCKS
2024 2022
£    £   
Stocks 5,185 258,233

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2022
£    £   
Trade debtors 478,201 5,423
Other debtors 143,592 74,688
621,793 80,111

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2022
£    £   
Bank loans and overdrafts 495,801 125,000
Trade creditors 27,183 206,340
Taxation and social security 203,942 34,788
Other creditors 13,868 8,237
740,794 374,365

KINECTED SOLUTIONS LIMITED (REGISTERED NUMBER: 10423535)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Period 1 November 2022 to 31 March 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2022
£    £   
Bank loans - 93,750

9. PROVISIONS FOR LIABILITIES
2024 2022
£    £   
Deferred tax 11,931 22,619

Deferred
tax
£   
Balance at 1 November 2022 22,619
Movement (10,688 )
Balance at 31 March 2024 11,931

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the period ended 31 March 2024 and the year ended 31 October 2022:

2024 2022
£    £   
Mr L Spalding
Balance outstanding at start of period 15 -
Amounts advanced 61,100 15
Amounts repaid (241 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period 60,874 15

Mr R Jones
Balance outstanding at start of period (830 ) -
Amounts advanced 31,571 -
Amounts repaid - (830 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period 30,741 (830 )

These loans are repayable on demand. Interest is charged at the beneficial interest rate of 2.25%.

CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
KINECTED SOLUTIONS LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Kinected Solutions Limited for the period ended 31 March 2024 which comprise the Income Statement, Statement of Financial Position, Statement of Changes in Equity 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 Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Kinected Solutions Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Kinected Solutions Limited and state those matters that we have agreed to state to the Board of Directors of Kinected Solutions Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Kinected Solutions 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 loss of Kinected Solutions Limited. You consider that Kinected Solutions Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of Kinected Solutions 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.






Acumen Accountants and Advisors Limited
Bankhead Drive
City South Office Park
Portlethen
Aberdeenshire
AB12 4XX


26 November 2024