Connect Portfolio Ltd - Accounts to registrar (filleted)

REGISTERED NUMBER: 12241083 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

1 NOVEMBER 2023 TO 31 DECEMBER 2024

FOR

CONNECT PORTFOLIO LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr T Philippou

Mrs O Philippou

REGISTERED OFFICE:

Fourth Floor

Chase House

305 Chase Road

London

N14 6JS

REGISTERED NUMBER:

12241083 (England and Wales)

ACCOUNTANTS:

Freemans Partnership LLP

Chartered Certified Accountants

Solar House

282 Chase Road

London

N14 6NZ

CURRENT ASSETS

Stocks

4

6,553,751

-

Debtors

5

223,038

48,942

Cash at bank and in hand

9,152

100

6,785,941

49,042

CREDITORS

Amounts falling due within one year

6

6,709,712

28,977

NET CURRENT ASSETS

76,229

20,065

TOTAL ASSETS LESS CURRENT
LIABILITIES

76,229

20,065

CAPITAL AND RESERVES

Called up share capital

7

100

Retained earnings

76,129

19,965

SHAREHOLDERS' FUNDS

76,229

20,065

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

The members have not required the company to obtain an audit of its financial statements for the period 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.

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 4 September 2025 and were signed on its behalf by:

Mr T Philippou - Director

1.	STATUTORY INFORMATION

Connect Portfolio Ltd 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 customers during the year, and is recognised at the date the service was provided. This is stated after trade discounts and other sales taxes and net of VAT.

Stocks

Property is stated at the lower of cost and net realisable value, based on its present condition. Property in the course of development is stated at the lower of direct cost and net realisable value. Direct cost comprises the cost of land, development and construction costs to date.

Taxation

Taxation for the period 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 2 (2023 - 1 ) .

4.

STOCKS

31.12.24

31.10.23

£

Stocks

6,553,751

-

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.10.23

£

Other debtors

60,000

-

Amount owed by related companies

163,038

48,942

223,038

48,942

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.10.23

£

Bank loans and overdrafts

4,389,677

-

Trade creditors

3,918

-

Tax

18,721

3,452

VAT

62

5,354

Amounts due to related company

2,187,734

15,679

Directors' current accounts

6,600

3,292

Accrued expenses

103,000

1,200

6,709,712

28,977

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.10.23

value:

£

100

Ordinary

1

100

8.	RELATED PARTY DISCLOSURES

At the period end the company owed £2,187,194 (2023: £15,139) to Connect Lettings and Management Limited, a company in which a director has significant control. Interest is charged at market rate.

At the period end the company owed £540 (2023: £540) to Connect Maintenance London LTD a company in which a director has significant influence. The balance is unsecured, interest free and payable on demand.

At the period end the company was owed £51,606 (2023: £48,941) from Connect Homes Limited a company in which a director has significant control. The balance is unsecured, interest free and payable on demand.

At the period end the company was owed £111,432 (2023: £Nil) from Connect Construction and Maintenance Limited a company in which a director has significant influence. The balance is unsecured, interest free and payable on demand.