Connections Exhibitions Inc Ltd - Period Ending 2014-06-30

Registration number: 08099631

Connections Exhibitions Inc Ltd

Unaudited Abbreviated Accounts

for the Year Ended 30 June 2014
 

Sherwin Currid Accountancy Limited
Chartered Certified Accountants
32 London Road
Guildford
Surrey
GU1 2AB

Connections Exhibitions Inc Ltd
Contents

Accountants' Report 1

Abbreviated Balance Sheet 2

Notes to the Abbreviated Accounts 3 to 4

The following reproduces the text of the accountants' report in respect of the company's annual financial statements, from which the abbreviated accounts (set out on pages 2 to 4) have been prepared.

Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Connections Exhibitions Inc Ltd
for the Year Ended 30 June 2014

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Connections Exhibitions Inc Ltd for the year ended 30 June 2014 set out on pages from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.

This report is made solely to the Board of Directors of Connections Exhibitions Inc Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Connections Exhibitions Inc Ltd and state those matters that we have agreed to state to them, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www2.accaglobal.com/pubs/members/publications/technical_factsheets/downloads/163.doc. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Connections Exhibitions Inc Ltd and its Board of Directors as a body for our work or for this report.

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

We have not been instructed to carry out an audit or a review of the accounts of Connections Exhibitions Inc Ltd. 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 accounts.

......................................

Sherwin Currid Accountancy Limited
Chartered Certified Accountants
32 London Road
Guildford
Surrey
GU1 2AB

9 March 2015

Page 1

Connections Exhibitions Inc Ltd
(Registration number: 08099631)
Abbreviated Balance Sheet at 30 June 2014

		Note			30 June 2014 £			30 June 2013 £
Fixed assets
Intangible fixed assets					102,960			137,280
Tangible fixed assets					41,705			33,807
					144,665			171,087
Current assets
Debtors					103,887			56,938
Cash at bank and in hand					29,713			27,827
					133,600			84,765
Creditors: Amounts falling due within one year					(240,371)			(227,440)
Net current liabilities					(106,771)			(142,675)
Net assets					37,894			28,412
Capital and reserves
Called up share capital		3			100			100
Profit and loss account					37,794			28,312
Shareholders' funds					37,894			28,412

For the year ending 30 June 2014 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 9 March 2015 and signed on its behalf by:

.........................................
Mrs H Neal
Director

The notes on pages 3 to 4 form an integral part of these financial statements.
Page 2

Connections Exhibitions Inc Ltd
Notes to the Abbreviated Accounts for the Year Ended 30 June 2014
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers. Revenue has been recognised with Financial Reporting Standard 5 – Reporting the substance of Transactions: Application note G – Revenue Recognition. Income is recognised when the company has performed services in accordance with the agreement with the relevant client and has obtained a right to consideration for those services. Where such income has not been billed at the balance sheet date, it is included as accrued income.

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Amortisation

Amortisation is provided on intangible fixed assets so as to write off the cost, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Amortisation method and rate
Goodwill	20% straight line basis

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Fixtures and fittings	20% straight line basis
Plant and machinery	33.33% straight line basis
Motor vehicles	25% reducing balance

Foreign currency

Transactions in foreign currencies are recorded at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the closing rates at the balance sheet date. All exchange differences are included in the profit and loss account.

Hire purchase and leasing

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Page 3

Connections Exhibitions Inc Ltd
Notes to the Abbreviated Accounts for the Year Ended 30 June 2014
......... continued

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

2	Fixed assets

		Intangible assets £			Tangible assets £			Total £
Cost
At 1 July 2013		171,600			36,833			208,433
Additions		-			25,271			25,271
Disposals		-			(11,100)			(11,100)
At 30 June 2014		171,600			51,004			222,604
Depreciation
At 1 July 2013		34,320			3,026			37,346
Charge for the year		34,320			10,088			44,408
Eliminated on disposals		-			(3,815)			(3,815)
At 30 June 2014		68,640			9,299			77,939
Net book value
At 30 June 2014		102,960			41,705			144,665
At 30 June 2013		137,280			33,807			171,087

3	Share capital

Allotted, called up and fully paid shares

	30 June 2014						30 June 2013
		No.			£			No.			£
Ordinary shares of £1 each		100			100			100			100

Page 4