BrightAccountsProduction v1.0.0 v1.0.0 2023-10-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The principal activity of the company is that of a holding company. 14 April 2025 0 0 NI679393 2024-09-30 NI679393 2023-09-30 NI679393 2022-09-30 NI679393 2023-10-01 2024-09-30 NI679393 2022-10-01 2023-09-30 NI679393 uk-bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 NI679393 uk-curr:PoundSterling 2023-10-01 2024-09-30 NI679393 uk-bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 NI679393 uk-bus:FullAccounts 2023-10-01 2024-09-30 NI679393 uk-core:ShareCapital 2024-09-30 NI679393 uk-core:ShareCapital 2023-09-30 NI679393 uk-core:SharePremium 2024-09-30 NI679393 uk-core:SharePremium 2023-09-30 NI679393 uk-core:RetainedEarningsAccumulatedLosses 2024-09-30 NI679393 uk-core:RetainedEarningsAccumulatedLosses 2023-09-30 NI679393 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2024-09-30 NI679393 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-09-30 NI679393 uk-bus:FRS102 2023-10-01 2024-09-30 NI679393 uk-core:CostValuation 2024-09-30 NI679393 uk-core:CurrentFinancialInstruments 2024-09-30 NI679393 uk-core:CurrentFinancialInstruments 2023-09-30 NI679393 uk-core:CurrentFinancialInstruments 2024-09-30 NI679393 uk-core:CurrentFinancialInstruments 2023-09-30 NI679393 uk-core:WithinOneYear 2024-09-30 NI679393 uk-core:WithinOneYear 2023-09-30 NI679393 uk-core:EmployeeBenefits 2023-09-30 NI679393 uk-core:EmployeeBenefits 2023-10-01 2024-09-30 NI679393 uk-core:AcceleratedTaxDepreciationDeferredTax 2024-09-30 NI679393 uk-core:TaxLossesCarry-forwardsDeferredTax 2024-09-30 NI679393 uk-core:OtherDeferredTax 2024-09-30 NI679393 uk-core:RevaluationPropertyPlantEquipmentDeferredTax 2024-09-30 NI679393 uk-core:EmployeeBenefits 2024-09-30 NI679393 2023-10-01 2024-09-30 NI679393 uk-bus:Director1 2023-10-01 2024-09-30 NI679393 uk-bus:AuditExempt-NoAccountantsReport 2023-10-01 2024-09-30 xbrli:pure iso4217:GBP xbrli:shares
 
 
 
 
 
Company Registration Number: NI679393
 
 
Conlect Holdings Ltd
 
Unaudited Financial Statements
 
for the financial year ended 30 September 2024
Conlect Holdings Ltd
Company Registration Number: NI679393
BALANCE SHEET
as at 30 September 2024

2024 2023
Notes £ £
 
Fixed Assets
Investments 3 200,000 200,000
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Current Assets
Debtors 4 504,504 15,595
Cash and cash equivalents 68,940 281,648
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573,444 297,243
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Creditors: amounts falling due within one year 5 (291,787) (27,387)
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Net Current Assets 281,657 269,856
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Total Assets less Current Liabilities 481,657 469,856
 
Provisions for liabilities 6 492 1,229
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Net Assets 482,149 471,085
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Capital and Reserves
Called up share capital 200 200
Share premium account 7 439,900 439,900
Retained earnings 42,049 30,985
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Equity attributable to owners of the company 482,149 471,085
═════════ ═════════
 
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A (Small Entities).
           
The company has taken advantage of the exemption under section 444 not to file the Profit and Loss Account and Director's Report.
           
For the financial year ended 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The director confirms that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The director acknowledges his responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.
           
Approved by the Director and authorised for issue on 14 April 2025
           
           
________________________________          
Mr. Daithi Conlon          
Director          
           



Conlect Holdings Ltd
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 30 September 2024

   
1. General Information
 
Conlect Holdings Ltd is a company limited by shares incorporated and registered in Northern Ireland. The registered number of the company is NI679393. The registered office of the company is 177 Derryfubble Road, Dungannon, Co Tyrone, BT71 7PS, Northern Ireland which is also the principal place of business of the company. The nature of the company's operations and its principal activities are set out in the Director's Report. The financial statements have been presented in Pound (£) which is also the functional currency of the company.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the financial year ended 30 September 2024 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Consolidated accounts
The company is entitled to the exemption in Section 399 of the Companies Act 2006 from the obligation to prepare group accounts.
 
Turnover
Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax.
 
Investments
Investments held as fixed assets are stated at cost less provision for any permanent diminution in value. Income from other investments together with any related tax credit is recognised in the Profit and Loss Account in the financial year in which it is receivable.
 
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Provisions
Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the same value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Taxation and deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
       
3. Investments
  Group and Total
  participating  
  interests/  
  joint ventures  
Investments £ £
Cost
 
At 30 September 2024 200,000 200,000
  ───────── ─────────
Net book value
At 30 September 2024 200,000 200,000
  ═════════ ═════════
At 30 September 2023 200,000 200,000
  ═════════ ═════════
       
4. Debtors 2024 2023
  £ £
 
Trade debtors - 5,595
Amounts owed by group undertakings 26,000 10,000
Other debtors 478,504 -
  ───────── ─────────
  504,504 15,595
  ═════════ ═════════
       
5. Creditors 2024 2023
Amounts falling due within one year £ £
 
Trade creditors - 25,395
Amounts owed to connected parties (Note 8) 265,836 -
Director's current account 22,992 492
Accruals 2,959 1,500
  ───────── ─────────
  291,787 27,387
  ═════════ ═════════
         
6. Provisions for liabilities
 
The amounts provided for deferred taxation are analysed below:
 
  Losses Total Total
       
       
    2024 2023
  £ £ £
 
At financial year start (1,229) (1,229) (781)
Charged to profit and loss 737 737 (448)
  ───────── ───────── ─────────
At financial year end (492) (492) (1,229)
  ═════════ ═════════ ═════════
   
7. Reserves
 
Share Premium Reserve
 
The amount is the premium that arose from the issue of shares in 2021.
 
           
8. Related party transactions
The company has availed of the exemption under FRS 102 Section 1A in relation to the disclosure of transactions with group undertakings.
 
The following amounts are due to other connected parties:
      2024 2023
      £ £
 
Benburb Holdings Ltd     265,836 -
      ═════════ ═════════
 
The director in Conlect Holdings Ltd is also a director in Benburb Holdings Ltd. During the year, Benburb Holdings Ltd loaned Conlect Holdings Ltd £250,000 and charged interest of £15,836. At the year end Conlect Holdings Ltd owes Benburb Holdings Ltd £265,836 (2023: £0) and this is included in the creditors section of the balance sheet.

At the start of the year Conlect Holdings Ltd owed the director £492. During the year Conlect Holdings Ltd borrowed £32,500 from the director and repaid £10,000 to the director. At the year end £22,992 (2023: £492) is owed to the director and this is included in the creditors section of the balance sheet.