Caseware UK (AP4) 2024.0.164 2024.0.164 2023-07-01falseBusiness research and strategy, advisers andconsultants.22truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false OC393576 2023-07-01 2024-06-30 OC393576 2022-07-01 2023-06-30 OC393576 2024-06-30 OC393576 2023-06-30 OC393576 c:FurnitureFittings 2023-07-01 2024-06-30 OC393576 c:FurnitureFittings 2024-06-30 OC393576 c:FurnitureFittings 2023-06-30 OC393576 c:FurnitureFittings c:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 OC393576 c:OfficeEquipment 2023-07-01 2024-06-30 OC393576 c:OfficeEquipment 2024-06-30 OC393576 c:OfficeEquipment 2023-06-30 OC393576 c:OfficeEquipment c:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 OC393576 c:OtherPropertyPlantEquipment 2023-07-01 2024-06-30 OC393576 c:OwnedOrFreeholdAssets 2023-07-01 2024-06-30 OC393576 c:CurrentFinancialInstruments 2024-06-30 OC393576 c:CurrentFinancialInstruments 2023-06-30 OC393576 c:Non-currentFinancialInstruments 2024-06-30 OC393576 c:Non-currentFinancialInstruments 2023-06-30 OC393576 c:CurrentFinancialInstruments c:WithinOneYear 2024-06-30 OC393576 c:CurrentFinancialInstruments c:WithinOneYear 2023-06-30 OC393576 c:Non-currentFinancialInstruments c:AfterOneYear 2024-06-30 OC393576 c:Non-currentFinancialInstruments c:AfterOneYear 2023-06-30 OC393576 c:Non-currentFinancialInstruments c:BetweenOneTwoYears 2024-06-30 OC393576 c:Non-currentFinancialInstruments c:BetweenOneTwoYears 2023-06-30 OC393576 c:Non-currentFinancialInstruments c:BetweenTwoFiveYears 2024-06-30 OC393576 c:Non-currentFinancialInstruments c:BetweenTwoFiveYears 2023-06-30 OC393576 c:Non-currentFinancialInstruments c:MoreThanFiveYears 2024-06-30 OC393576 c:Non-currentFinancialInstruments c:MoreThanFiveYears 2023-06-30 OC393576 d:FRS102 2023-07-01 2024-06-30 OC393576 d:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 OC393576 d:FullAccounts 2023-07-01 2024-06-30 OC393576 d:LimitedLiabilityPartnershipLLP 2023-07-01 2024-06-30 OC393576 2 2023-07-01 2024-06-30 OC393576 6 2023-07-01 2024-06-30 OC393576 d:PartnerLLP1 2023-07-01 2024-06-30 OC393576 c:FurtherSpecificReserve3ComponentTotalEquity 2024-06-30 OC393576 c:FurtherSpecificReserve3ComponentTotalEquity 2023-06-30 OC393576 e:PoundSterling 2023-07-01 2024-06-30 iso4217:GBP xbrli:pure

Registered number: OC393576










Connected Capital LLP








Unaudited

Financial statements

Information for filing with the registrar

For the year ended 30 June 2024

 
Connected Capital LLP
 
  
Chartered accountants' report to the members on the preparation of the unaudited statutory financial statements of Connected Capital LLP for the year ended 30 June 2024

In order to assist you to fulfil your duties under the Companies Act 2006 (as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008), we have prepared for your approval the financial statements of Connected Capital LLP for the year ended 30 June 2024 which comprise  the Balance sheet and the related notes from the LLP's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the members in accordance with the terms of our engagement letter dated 21 March 2023Our work has been undertaken solely to prepare for your approval the financial statements of Connected Capital LLP and state those matters that we have agreed to state to the Connected Capital LLP's members in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Connected Capital LLP and its members for our work or for this report. 

It is your duty to ensure that Connected Capital LLP has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Connected Capital LLP. You consider that Connected Capital LLP is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Connected Capital LLP. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



Kreston Reeves LLP
 
Chartered Accountants
  
London
26 June 2025
Page 1

 
Connected Capital LLP
Registered number: OC393576

Balance sheet
As at 30 June 2024

As restated
2024
2023
Note
£
£

Fixed assets
  

Tangible fixed assets
  
2,729
3,640

Investments
 5 
-
2,443

  
2,729
6,083

Current assets
  

Debtors: amounts falling due within one year
 6 
105,562
779

Cash at bank and in hand
 7 
8,530
83,607

  
114,092
84,386

Creditors: Amounts Falling Due Within One Year
 8 
(92,776)
(35,441)

Net current assets
  
 
 
21,316
 
 
48,945

Total assets less current liabilities
  
24,045
55,028

Creditors: amounts falling due after more than one year
 9 
(18,586)
(21,664)

  
5,459
33,364

  

Net assets
  
5,459
33,364


Represented by:
  

Loans and other debts due to members within one year
  

Other amounts
 11 
5,459
33,364

  
5,459
33,364

  

  
5,459
33,364


Total members' interests
  

Loans and other debts due to members
 11 
5,459
33,364

  
5,459
33,364


Page 2

 
Connected Capital LLP
Registered number: OC393576

Balance sheet (continued)
As at 30 June 2024

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small LLPs regime.

The entity was entitled to exemption from audit under section 477 of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008.

The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006, as applied by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, with respect to accounting records and the preparation of financial statements.

The financial statements have been delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.

The entity has opted not to file the statement of comprehensive income in accordance with the provisions applicable to entities subject to the small LLPs regime.

The financial statements were approved and authorised for issue by the members and were signed on their behalf on 26 June 2025.




Harmeet Singh
Designated member

The notes on pages 5 to 11 form part of these financial statements.

Connected Capital LLP has no equity and, in accordance with the provisions contained within the Statement of Recommended Practice "Accounting by Limited Liability Partnerships", has not presented a Statement of changes in equity.

Page 3

 
Connected Capital LLP
 

Reconciliation of members' interests
For the year ended 30 June 2024






EQUITY
Members' other interests
DEBT
Loans and other debts due to members less any amounts due from members in debtors
Total members' interests
Other reserves
Total
Other amounts
Total
Total

£
£
£
£
£

Loss for the year available for discretionary division among members
 
(43,807)
(43,807)
-
-
(43,807)

Members' interests after profit for the year
(43,807)
(43,807)
171,805
171,805
127,998

Other division of losses
43,807
43,807
(43,807)
(43,807)
-

Drawings on account and distribution of profit
-
-
(94,634)
(94,634)
(94,634)

Amounts due to members
33,364
33,364

Balance at 30 June 2023
-
-
186,835
186,835
186,835

Prior year adjustment
 
-
-
(153,471)
(153,471)
(153,471)

Balance at 30 June 2023 (as restated)
-
-
33,364
33,364
33,364

Profit for the year available for discretionary division among members
 
79,725
79,725
-
-
79,725

Members' interests after profit for the year
79,725
79,725
33,364
33,364
113,089

Other division of profits
(79,725)
(79,725)
79,725
79,725
-

Drawings on account and distribution of profit
-
-
(107,630)
(107,630)
(107,630)

Amounts due to members
5,459
5,459

Balance at 30 June 2024 
-
-
5,459
5,459
5,459

There are no existing restrictions or limitations which impact the ability of the members of the LLP to reduce the amount of Members' other interests.

Page 4

 
Connected Capital LLP
 

 
Notes to the financial statements
For the year ended 30 June 2024

1.


General information

Connected Capital LLP is a limited liability partnership incorporated in England and Wales. The registered
office is 43 Berkeley Square, Mayfair, London, W1J 5FJ.  
The principal activity of the limited liability partnership was that of business research and strategy, advisers and consultants.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The LLP's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 5

 
Connected Capital LLP
 

 
Notes to the financial statements
For the year ended 30 June 2024

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the LLP and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the LLP will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Operating leases: the LLP as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 6

 
Connected Capital LLP
 

 
Notes to the financial statements
For the year ended 30 June 2024

2.Accounting policies (continued)

 
2.8

Division and distribution of profits

A division of profits is the mechanism by which the profits of an LLP become a debt due to members. A division may be automatic or discretionary, may relate to some or all of the profits for a financial period and may take place during or after the end of a financial period.

An automatic division of profits is one where the LLP does not have an unconditional right to avoid making a division of an amount of profits based on the members' agreement in force at the time, whereas a discretionary division of profits requires a decision to be made by the LLP, which it has the unconditional right to avoid making.

The LLP divides profits automatically. Automatic divisions of profits are recognised as 'Members' remuneration charged as an expense in .

In the event of the LLP making losses, the loss is recognised as a credit amount of 'Members' remuneration charged as an expense where it is automatically divided or as a debit within equity under 'Other reserves' if not divided automatically.

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures and fittings
-
25%
Office equipment
-
25%
Other fixed assets
-
25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted LLP shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of comprehensive income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

Page 7

 
Connected Capital LLP
 

 
Notes to the financial statements
For the year ended 30 June 2024

2.Accounting policies (continued)

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).


4.


Tangible fixed assets





Fixtures and fittings
Office equipment
Total

£
£
£



Cost or valuation


At 1 July 2023
2,332
3,543
5,875



At 30 June 2024

2,332
3,543
5,875



Depreciation


At 1 July 2023
1,349
886
2,235


Charge for the year on owned assets
246
665
911



At 30 June 2024

1,595
1,551
3,146



Net book value



At 30 June 2024
737
1,992
2,729



At 30 June 2023
983
2,657
3,640

Page 8

 
Connected Capital LLP
 

 
Notes to the financial statements
For the year ended 30 June 2024

5.


Fixed asset investments





Unlisted investments

£





At 1 July 2023
2,443


Disposals
(2,443)



At 30 June 2024
-





6.


Debtors

As restated
2024
2023
£
£


Trade debtors
105,120
-

Other debtors
353
376

Prepayments and accrued income
89
403

105,562
779



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
8,530
83,607



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
3,774
4,441

Trade creditors
1,824
2,200

Accruals and deferred income
87,178
28,800

92,776
35,441



9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
18,586
21,664


Page 9

 
Connected Capital LLP
 

 
Notes to the financial statements
For the year ended 30 June 2024

10.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
3,774
4,441

Amounts falling due 1-2 years

Bank loans
3,774
21,664

Amounts falling due 2-5 years

Bank loans
11,323
-

Amounts falling due after more than 5 years

Bank loans
3,489
-

22,360
26,105



11.


Loans and other debts due to members


As restated
2024
2023
£
£



Other amounts due to members
5,459
33,364

5,459
33,364

Loans and other debts due to members may be further analysed as follows:

As restated
2024
2023
£
£



Falling due within one year
5,459
33,364

5,459
33,364

Loans and other debts due to members rank equally with debts due to ordinary creditors in the event of a winding up.

Page 10

 
Connected Capital LLP
 

 
Notes to the financial statements
For the year ended 30 June 2024

12.


Prior year adjustment

The prior year adjustment relates to providing a bad debt provision against a historic debtor of £153,471. This has reduced the total profit for division amoungst members by £153,471 and ultimatley reduced loans and other debts due to members by £153,471.

As previously reported
Adjustment
As restated
        £
        £
        £

Trade Debtors

153,471

(153,471)

-
 
Bad debt

-

153,471

153,471
 
Loans and other debts due to members

186,835

(153,471)

33,364
 

340,306

(153,471)

186,835
 


13.


Controlling party

The LLP is under the control of its deignated members 


Page 11