Acorah Software Products - Accounts Production 16.2.850 false true 31 December 2023 1 January 2023 false 1 January 2024 31 December 2024 31 December 2024 06939008 J Duffield J Duffield true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 06939008 2023-12-31 06939008 2024-12-31 06939008 2024-01-01 2024-12-31 06939008 frs-core:Non-currentFinancialInstruments 2024-12-31 06939008 frs-core:ComputerEquipment 2024-01-01 2024-12-31 06939008 frs-core:FurnitureFittings 2024-01-01 2024-12-31 06939008 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-01-01 2024-12-31 06939008 frs-core:MotorVehicles 2024-01-01 2024-12-31 06939008 frs-core:PlantMachinery 2024-01-01 2024-12-31 06939008 frs-core:ShareCapital 2024-12-31 06939008 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 06939008 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 06939008 frs-bus:AbridgedAccounts 2024-01-01 2024-12-31 06939008 frs-bus:SmallEntities 2024-01-01 2024-12-31 06939008 frs-bus:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 06939008 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 06939008 1 2024-01-01 2024-12-31 06939008 frs-bus:Director1 2024-01-01 2024-12-31 06939008 frs-countries:EnglandWales 2024-01-01 2024-12-31 06939008 2022-12-31 06939008 2023-12-31 06939008 2023-01-01 2023-12-31 06939008 frs-core:Non-currentFinancialInstruments 2023-12-31 06939008 frs-core:ShareCapital 2023-12-31 06939008 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31
Registered number: 06939008
Connect Live (Uk) Ltd
ABRIDGED Financial Statements
For The Year Ended 31 December 2024
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—5
Page 1
Abridged Balance Sheet
Registered number: 06939008
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 966,836 866,982
966,836 866,982
CURRENT ASSETS
Stocks 5,225 2,246
Debtors 345,026 435,064
Cash at bank and in hand 1,327,989 921,030
1,678,240 1,358,340
Creditors: Amounts Falling Due Within One Year (218,289 ) (222,844 )
NET CURRENT ASSETS (LIABILITIES) 1,459,951 1,135,496
TOTAL ASSETS LESS CURRENT LIABILITIES 2,426,787 2,002,478
Creditors: Amounts Falling Due After More Than One Year (134,523 ) (130,200 )
NET ASSETS 2,292,264 1,872,278
CAPITAL AND RESERVES
Called up share capital 5 80 80
Profit and Loss Account 2,292,184 1,872,198
SHAREHOLDERS' FUNDS 2,292,264 1,872,278
Page 1
Page 2
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
All of the company's members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet for the year end 31 December 2024 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
J Duffield
Director
17th April 2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Abridged Financial Statements
1. General Information
Connect Live (Uk) Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 06939008 . The registered office is Unit 1A, Vickers Drive North, Brooklands Industrial Park, Weybridge, Surrey, KT13 0YU.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
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. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 10% on cost
Plant & Machinery 25% on reducing balance
Motor Vehicles 25% on reducing balance
Fixtures & Fittings 25% on reducing balance
Computer Equipment 33.33% on cost
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
Minimum lease payments under non-cancellable operating leases fall due as follows:
2024
2023
£
£
Within one year
157,412
157,412
Between one and five years
78,706
236,118
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image
236,118
image
393,530
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2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.6. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 12 (2023: 12)
12 12
4. Tangible Assets
Total
£
Cost
As at 1 January 2024 3,595,500
Additions 433,360
Disposals (7,500 )
As at 31 December 2024 4,021,360
Depreciation
As at 1 January 2024 2,728,518
Provided during the period 332,630
Disposals (6,624 )
As at 31 December 2024 3,054,524
Net Book Value
As at 31 December 2024 966,836
As at 1 January 2024 866,982
5. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 80 80
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6. Related Party Transactions
During the year, the company recharged Brooklands Studio Ltd, a fellow subsidiary company, management fees in the sum of £14,500 (2023: £14,500).
7. Ultimate Parent Undertaking and Controlling Party
The company's immediate and ultimate parent undertaking is Connect Live Ltd . Connect Live Ltd was incorporated in England. The ultimate controlling party is J Duffield .
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