Konnektis Communications Ltd - Period Ending 2020-03-31

Registration number: 07555513

Prepared for the registrar
 
Konnektis Communications Ltd

Unaudited Financial Statements

for the Year Ended 31 March 2020

Konnektis Communications Ltd

(Registration number: 07555513)
Balance Sheet as at 31 March 2020

	2020 £	2019 £
Fixed assets	4,696	6,895
Current assets	24,444	93,657
Prepayments and accrued income	11,558	404
Creditors: Amounts falling due within one year	(134,467)	(57,679)
Net current (liabilities)/assets	(98,465)	36,382
Total assets less current liabilities	(93,769)	43,277
Accruals and deferred income	(19,028)	(2,575)
	(112,797)	40,702
Capital and reserves	(112,797)	40,702

General information

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

The address of its registered office and principal place of business is:
Allen House Business Centre
The Maltings
Station Road
Sawbridgeworth
Hertfordshire
CM21 9JX

Staff numbers

The average number of persons employed by the company (including the director) during the year, was as follows:

	2020  No.	2019  No.
Average number of employees	3	8

Basis of preparation

The financial statements have been prepared under the historical cost convention and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities Regime'.

The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.

These financial statements have been prepared in accordance with the micro-entity provisions of the Companies Act 2006 and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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Konnektis Communications Ltd

(Registration number: 07555513)
Balance Sheet as at 31 March 2020

For the financial year ending 31 March 2020 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.

Approved and authorised by the director on 7 December 2020
 

Mr M D Howells Director

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Konnektis Communications Ltd

Related party transactions

Amounts due to the director
At the balance sheet date, the company owed £141,266 (2019 - £47,537) to the director of the company, of which £16,378 (2019 - £nil) is included in accruals. In respect of the liability, interest accrues monthly based on annual rate of 15%. There are no fixed repayment terms in respect of the outstanding balance.

Contingent liability to the director
The company has recognised that there are some amounts due to the Director of the company for work done in previous and current period.

Following the end of the year, the company declared a bonus which is contingent on the company meeting certain performance conditions and having sufficient resources to make payment to the Director. Total amount of contingency not included in the balance sheet is £156,250. The Director has not made provision in the accounts as at 31 March 2020 as the liability is subject to occurrence of uncertain future events.
 

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