Konnektis Communications Ltd

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 10

Konnektis Communications Ltd

Company Information

Director

M Howells

Registered Office

Avenue Hq 10-12 East Parade Leeds LS1 2BH

Registered Number

07555513

Accountants

Verinder Powell Associates Limited Suite 5 Corum 2 Corum Office Park Crown Way Warmley Bristol BS30 8FJ

Konnektis Communications Ltd

(Registration number: 07555513)
Balance Sheet as at 31 March 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	2,940	3,676
Current assets
Debtors	5	19,498	41,594
Cash at bank and in hand		67	72
		19,565	41,666
Creditors: Amounts falling due within one year	6	(705,745)	(665,454)
Net current liabilities		(686,180)	(623,788)
Total assets less current liabilities		(683,240)	(620,112)
Creditors: Amounts falling due after more than one year	6	(29,758)	(37,452)
Net liabilities		(712,998)	(657,564)
Capital and reserves
Called up share capital		1,251	1,251
Share premium reserve		397,858	397,858
Other reserves		17,159	17,159
Retained earnings		(1,129,266)	(1,073,832)
Shareholders' deficit		(712,998)	(657,564)

Konnektis Communications Ltd

(Registration number: 07555513)
Balance Sheet as at 31 March 2025

For the financial year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 1 September 2026
 

......................................... M Howells Director

Konnektis Communications Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Avenue Hq
10-12 East Parade
Leeds
LS1 2BH

These financial statements were authorised for issue by the director on 1 September 2026.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime). There have been no material departures from the Financial Reporting Standard 102 1A.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value. The financial statements are prepared in Pounds Sterling (£), and are rounded to the nearest pound.

Going concern

The financial statements have been prepared on a going concern basis following confirmation that the director will continue to financially support the company in order to maintain its operations as necessary for the foreseeable future and at least 12 months from the date of signing the financial statements.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
- the amount of revenue can be reliably measured;
- it is probable that future economic benefits will flow to the entity;
- and specific criteria have been met for each of the company's activities.

Konnektis Communications Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Government grants

Government grants have been recognised on an accruals basis and have been recognised in the same period in which the related expense has been incurred.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:

Asset class	Depreciation method and rate
Computer equipment	25% on cost

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Konnektis Communications Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

The company operates a define contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. Once the contributions have been paid, the company has no further payment obligations.

Konnektis Communications Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Financial instruments

Classification
The company has elected to apply the provisions of section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 Recognition and measurement
Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Trade debtors, loans and other receivables that have fixed or determinable payments that are not quoted in an active market are classified as 'loans and receivables'. Loans and receivables are measured at amortised cost using the effective interest method, less any impairment.

Basic financial liabilities, including trade and other payables, and bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 Impairment
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. The impairment loss is recognised in profit or loss.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 6 (2024 - 4).

Konnektis Communications Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

4	Tangible assets

	Computer equipment £	Total £
Cost or valuation
At 1 April 2024	16,249	16,249
Additions	1,199	1,199
At 31 March 2025	17,448	17,448
Depreciation
At 1 April 2024	12,573	12,573
Charge for the year	1,935	1,935
At 31 March 2025	14,508	14,508
Carrying amount
At 31 March 2025	2,940	2,940
At 31 March 2024	3,676	3,676

5

Debtors

	2025 £	2024 £
Trade debtors	16,896	16,778
Prepayments and accrued income	1,545	23,759
Other debtors	1,057	1,057
	19,498	41,594

Konnektis Communications Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

6

Creditors

Due within one year	2025 £	2024 £
Bank borrowings	7,694	7,013
Trade creditors	1,119	6,666
Taxation and social security	84,943	33,100
Accruals and deferred income	144,249	114,559
Other creditors	467,740	504,116
	705,745	665,454

 

	2025 £	2024 £
Due after one year
Bank borrowings	29,758	37,452

Included in bank borrowings is a combined balance of £37,452 (2024 - £44,465) which is guaranteed by the government and unsecured.

Within other creditors are convertible loan notes with a principal value of £395,000 (2024 - £395,000). Of this balance, loan notes of £345,000 (2024 - £345,000) bear interest at 8% per annum, whilst the remaining £50,000 (2024 - £50,000) are interest free. All loan notes are repayable unless converted into ordinary shares in accordance with the loan note agreements.

7	Financial commitments, guarantees and contingencies

Pension commitments

Included in the balance sheet are pensions of £201 (2024 - £Nil). The company participates in a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

 

Konnektis Communications Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

8	Related party transactions

Loans from related parties

2025	Key management £	Other related parties £	Total £
At start of period	22,086	322,335	344,421
Advanced	30,572	18,500	49,072
Repaid	(41,505)	(48,488)	(89,993)
At end of period	11,153	292,347	303,500

2024	Key management £	Other related parties £	Total £
At start of period	21,568	319,450	341,018
Advanced	10,168	21,881	32,049
Repaid	(9,650)	(18,996)	(28,646)
At end of period	22,086	322,335	344,421

Terms of loans from related parties

The loan from key management is interest free and repayable on demand.
 
The loans from other related parties are repayable on demand. Of the total loan, £175,000 (2024 - £175,000) is charged interest at 8% and the remainder is interest free.