Company Registration No. 05370648 (England and Wales)
SIMON CONNOLLY LTD
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2024
PAGES FOR FILING WITH REGISTRAR
LB GROUP ADVISORY
The Octagon Suite E2
2nd Floor Middleborough
Colchester
Essex
CO1 1TG
SIMON CONNOLLY LTD
CONTENTS
Page
Statement of financial position
1
Notes to the financial statements
2 - 3
SIMON CONNOLLY LTD
STATEMENT OF FINANCIAL POSITION
AS AT 28 FEBRUARY 2024
28 February 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
-
0
735
Current assets
Cash at bank and in hand
924
255
Creditors: amounts falling due within one year
5
(27,300)
(25,424)
Net current liabilities
(26,376)
(25,169)
Net liabilities
(26,376)
(24,434)
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
(26,377)
(24,435)
Total equity
(26,376)
(24,434)

The director of the company has elected not to include a copy of the income statement within the financial statements.true

For the financial year ended 28 February 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 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.

The financial statements were approved and signed by the director and authorised for issue on 29 November 2024
Mr S Stanton-Sharma
Director
Company registration number 05370648 (England and Wales)
SIMON CONNOLLY LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2024
- 2 -
1
Accounting policies
Company information

Simon Connolly Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 15 Ferndene Road, Manchester, UK, M20 4TN.

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 £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Going concern

At the balance sheet date the company had net current liabilities of £26,376.true

 

However, in the opinion of the directors, the company will have adequate working capital to meet all liabilities as they become due. Therefore, the accounts have been prepared on a going concern basis.

1.3
Cash at bank and in hand

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.

1.4
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

SIMON CONNOLLY LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2024
- 3 -
3
Employees
2024
2023
Number
Number
Total
1
1
4
Tangible fixed assets
£
Cost
At 1 March 2023 and 28 February 2024
13,489
Depreciation and impairment
At 1 March 2023
12,754
Depreciation charged in the year
735
At 28 February 2024
13,489
Carrying amount
At 28 February 2024
-
0
At 28 February 2023
735
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
206
-
0
Taxation and social security
118
70
Other creditors
26,976
25,354
27,300
25,424
6
Director's transactions

No guarantees have been given or received.

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