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GOVERNANCE CONNECTED LTD

Registered Number
11528328
(England and Wales)

Unaudited Financial Statements for the Year ended
31 August 2024

GOVERNANCE CONNECTED LTD
Company Information
for the year from 1 September 2023 to 31 August 2024

Director

A.M. ROBINSON

Registered Address

22 Telegraph Hill
Higham
Rochester
ME3 7NW

Registered Number

11528328 (England and Wales)
GOVERNANCE CONNECTED LTD
Balance Sheet as at
31 August 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3377503
377503
Current assets
Debtors57,69359,682
Cash at bank and on hand115,700125,819
173,393185,501
Creditors amounts falling due within one year4(45,909)(93,223)
Net current assets (liabilities)127,48492,278
Total assets less current liabilities127,86192,781
Provisions for liabilities5(72)(96)
Net assets127,78992,685
Capital and reserves
Called up share capital11
Profit and loss account127,78892,684
Shareholders' funds127,78992,685
The financial statements were approved and authorised for issue by the Director on 6 May 2025, and are signed on its behalf by:
A.M. ROBINSON
Director
Registered Company No. 11528328
GOVERNANCE CONNECTED LTD
Notes to the Financial Statements
for the year ended 31 August 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)
Office Equipment25
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.
Trade and other creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2.Average number of employees

20242023
Average number of employees during the year11
3.Tangible fixed assets

Office Equipment

Total

££
Cost or valuation
At 01 September 232,1272,127
At 31 August 242,1272,127
Depreciation and impairment
At 01 September 231,6241,624
Charge for year126126
At 31 August 241,7501,750
Net book value
At 31 August 24377377
At 31 August 23503503
4.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables-1,160
Taxation and social security42,73828,660
Other creditors2,12163,403
Accrued liabilities and deferred income1,050-
Total45,90993,223
5.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)7296
Total7296