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REGISTERED NUMBER: 03900592 (England and Wales)







UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

CONNECT LETTINGS AND MANAGEMENT LIMITED

CONNECT LETTINGS AND MANAGEMENT LIMITED (REGISTERED NUMBER: 03900592)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


CONNECT LETTINGS AND MANAGEMENT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTORS: Mr T Philippou
Mrs O Philippou
Mr H T Philippou
Mr M Philippou
Mr C T Philippou
Mr A T Philippou



REGISTERED OFFICE: 468 Green Lanes
Palmers Green
London
N13 5PA



REGISTERED NUMBER: 03900592 (England and Wales)



ACCOUNTANTS: Freemans Partnership LLP
Chartered Certified Accountants
Solar House
282 Chase Road
London
N14 6NZ



BANKERS: National Westminster Bank Plc
9 The Town
Enfield
London
Middlesex
EN2 6LH

CONNECT LETTINGS AND MANAGEMENT LIMITED (REGISTERED NUMBER: 03900592)

BALANCE SHEET
31 DECEMBER 2024

31.12.24 31.12.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 218,886 28,299

CURRENT ASSETS
Debtors 5 5,810,292 753,367
Cash at bank and in hand 804,024 340,234
6,614,316 1,093,601
CREDITORS
Amounts falling due within one year 6 5,340,525 827,548
NET CURRENT ASSETS 1,273,791 266,053
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,492,677

294,352

CREDITORS
Amounts falling due after more than one
year

7

101,954

24,902
NET ASSETS 1,390,723 269,450

CAPITAL AND RESERVES
Called up share capital 8 100 2
Retained earnings 1,390,623 269,448
SHAREHOLDERS' FUNDS 1,390,723 269,450

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

CONNECT LETTINGS AND MANAGEMENT LIMITED (REGISTERED NUMBER: 03900592)

BALANCE SHEET - continued
31 DECEMBER 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 March 2025 and were signed on its behalf by:





Mr T Philippou - Director


CONNECT LETTINGS AND MANAGEMENT LIMITED (REGISTERED NUMBER: 03900592)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024


1. STATUTORY INFORMATION

Connect Lettings And Management 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.

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 amounts derived from the provision of services to landlords and customers during the year, and is recognised at the date the service was provided. This is stated after trade discounts, other sales taxes and net of VAT.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - not provided
Office equipment - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Plant & Machinery - 20% on reducing balance
Computer equipment - 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 balance sheet date.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 28 (2023 - 4 ) .

CONNECT LETTINGS AND MANAGEMENT LIMITED (REGISTERED NUMBER: 03900592)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


4. TANGIBLE FIXED ASSETS
Improvements
Short to Office
leasehold property equipment
£    £    £   
COST
At 1 January 2024 1,114 16,014 18,429
Additions - 6,000 8,494
Disposals - - (17,429 )
At 31 December 2024 1,114 22,014 9,494
DEPRECIATION
At 1 January 2024 - - 14,127
Charge for year - - 1,705
Eliminated on disposal - - (13,877 )
At 31 December 2024 - - 1,955
NET BOOK VALUE
At 31 December 2024 1,114 22,014 7,539
At 31 December 2023 1,114 16,014 4,302

Fixtures
and Plant & Computer
fittings Machinery equipment Totals
£    £    £    £   
COST
At 1 January 2024 40,760 - 35,621 111,938
Additions 25,187 150,639 30,334 220,654
Disposals (35,949 ) - (34,955 ) (88,333 )
At 31 December 2024 29,998 150,639 31,000 244,259
DEPRECIATION
At 1 January 2024 37,940 - 31,572 83,639
Charge for year 4,690 11,209 4,534 22,138
Eliminated on disposal (35,121 ) - (31,406 ) (80,404 )
At 31 December 2024 7,509 11,209 4,700 25,373
NET BOOK VALUE
At 31 December 2024 22,489 139,430 26,300 218,886
At 31 December 2023 2,820 - 4,049 28,299

CONNECT LETTINGS AND MANAGEMENT LIMITED (REGISTERED NUMBER: 03900592)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade debtors 43,487 624,430
Other debtors 145,444 -
Amount due from related companies 2,774,137 126,161
Prepayments and accrued income 2,808,164 2,776
Rent deposits 39,060 -
5,810,292 753,367

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Other loans 1,200,000 -
Hire purchase contracts 25,806 -
Trade creditors 74,088 520,760
Tax 373,210 77,345
Social security and other taxes 34,086 3,751
VAT 1,309,221 197,955
Other creditors 241,939 11,921
Director's loan account 31,110 5,372
Accruals and deferred income 2,051,065 10,444
5,340,525 827,548

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.24 31.12.23
£    £   
Bank loans - 1-2 years - 4,850
Bank loans - 2-5 years - 20,052
Hire purchase contracts 101,954 -
101,954 24,902

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.24 31.12.23
value: £    £   
100 Ordinary 1 100 2
(31.12.23 - 2 )

98 Ordinary shares of 1 each were allotted and fully paid for cash at par during the year.