REGISTERED NUMBER: 11554183 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 September 2025

for

Connolly & Son Limited

Page

Balance Sheet

1

Notes to the Financial Statements

3

Fixed assets

Intangible assets

4

-

-

Tangible assets

5

253,461

279,571

253,461

279,571

Current assets

Stocks

42,350

38,625

Debtors

6

142,819

154,878

Cash at bank

266,274

215,447

451,443

408,950

Creditors

Amounts falling due within one year

7

(401,633

)

(281,861

)

Net current assets

49,810

127,089

Total assets less current liabilities

303,271

406,660

Creditors

Amounts falling due after more than one year

8

(90,929

)

(75,161

)

Provisions for liabilities

(63,365

)

(69,893

)

Net assets

148,977

261,606

Capital and reserves

Called up share capital

10

10

Retained earnings

148,967

261,596

148,977

261,606

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2025 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 23 September 2026 and were signed on its behalf by:

Mr L T Connolly - Director

1.	Statement of compliance

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.

2.	Accounting policies

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Critical accounting judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2018, is being amortised evenly over its estimated useful life of five years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Plant and machinery

-

25% p.a. reducing balance

Computer equipment

-

25% p.a. reducing balance

Stocks

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 items.

Cost is calculated using first-in, first-out method and includes all purchase, transport and handling costs in bringing the stocks to their present location and condition.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. 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 entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Taxation

Taxation for the year 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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

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

Assets held under finance leases and hire purchase contracts are recognised in the balance sheet as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.

Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

3.	Employees and directors

The average number of employees during the year was 3 (2024 - 3 ) .

4.	Intangible fixed assets

Goodwill

£

Cost

At 1 October 2024

and 30 September 2025

12,000

Amortisation

At 1 October 2024

and 30 September 2025

12,000

Net book value

At 30 September 2025

-

At 30 September 2024

-

5.	Tangible fixed assets

Plant and

Computer

machinery

equipment

Totals

£

£

£

Cost

At 1 October 2024

421,355

1,950

423,305

Additions

54,950

259

55,209

Disposals

(20,218

)

-

(20,218

)

At 30 September 2025

456,087

2,209

458,296

Depreciation

At 1 October 2024

142,844

890

143,734

Charge for year

73,180

270

73,450

Eliminated on disposal

(12,349

)

-

(12,349

)

At 30 September 2025

203,675

1,160

204,835

Net book value

At 30 September 2025

252,412

1,049

253,461

At 30 September 2024

278,511

1,060

279,571

6.

Debtors: amounts falling due within one year

30.9.25

30.9.24

£

£

Trade debtors

113,508

29,200

Amounts owed by associates

12,280

12,280

Other debtors

17,031

113,398

142,819

154,878

7.

Creditors: amounts falling due within one year

30.9.25

30.9.24

£

£

Bank loans and overdrafts

2,000

3,000

Hire purchase contracts

40,475

57,593

Trade creditors

65,887

70,043

Taxation and social security

287,625

147,033

Other creditors

5,646

4,192

401,633

281,861

8.

Creditors: amounts falling due after more than one year

30.9.25

30.9.24

£

£

Bank loans

-

2,000

Hire purchase contracts

90,929

73,161

90,929

75,161

9.	Directors' advances, credits and guarantees

The following advances and credits to a director subsisted during the years ended 30 September 2025 and 30 September 2024:

30.9.25

30.9.24

£

£

Mr L T Connolly

Balance outstanding at start of year

91,223

-

Amounts advanced

387,769

91,223

Amounts repaid

(478,992

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

91,223

10.	Related party disclosures

During the previous year the company loaned Connolly and Son Lettings Limited £12,280 which remained outstanding at the balance sheet date. The loan is interest free and repayable on demand.

Connolly and Son Lettings is controlled by Mr L T Connolly.