Connect ACR Supplies Ltd - Period Ending 2022-03-31
Connect ACR Supplies Ltd - Period Ending 2022-03-31
Registration number:
Connect ACR Supplies Ltd
for the Period from 18 November 2020 to 31 March 2022
Connect ACR Supplies Ltd
Contents
Balance Sheet |
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Notes to the Unaudited Financial Statements |
Connect ACR Supplies Ltd
(Registration number: 13029691)
Balance Sheet as at 31 March 2022
Note |
2022 |
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Fixed assets |
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Intangible assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
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Net current liabilities |
( |
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Total assets less current liabilities |
( |
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Provisions for liabilities |
( |
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Net liabilities |
( |
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Capital and reserves |
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Called up share capital |
100 |
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Retained earnings |
(98,669) |
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Shareholders' deficit |
(98,569) |
Connect ACR Supplies Ltd
(Registration number: 13029691)
Balance Sheet as at 31 March 2022
For the financial period ending 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
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Connect ACR Supplies Ltd
Notes to the Unaudited Financial Statements for the Period from 18 November 2020 to 31 March 2022
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
England
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).
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.
Revenue recognition
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.
Tax
The tax expense for the period comprises deferred tax.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
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 charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Fixtures and fittings |
20% straight line basis |
Connect ACR Supplies Ltd
Notes to the Unaudited Financial Statements for the Period from 18 November 2020 to 31 March 2022
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
Asset class |
Amortisation method and rate |
Website |
over 10 years |
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.
Debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.
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.
Staff numbers |
The average number of persons employed by the company (including the director) during the period, was
Connect ACR Supplies Ltd
Notes to the Unaudited Financial Statements for the Period from 18 November 2020 to 31 March 2022
Intangible assets |
Other intangible assets |
Total |
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Cost or valuation |
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Additions- website |
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At 31 March 2022 |
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Amortisation |
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Charge for the year |
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At 31 March 2022 |
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Carrying amount |
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At 31 March 2022 |
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Connect ACR Supplies Ltd
Notes to the Unaudited Financial Statements for the Period from 18 November 2020 to 31 March 2022
Tangible assets |
Fixtures and fittings |
Total |
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Cost or valuation |
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Additions |
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At 31 March 2022 |
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Depreciation |
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Charge for the period |
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At 31 March 2022 |
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Carrying amount |
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At 31 March 2022 |
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Stocks |
2022 |
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Other inventories |
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Debtors |
Current |
2022 |
Trade debtors |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
2022 |
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Due within one year |
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Trade creditors |
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Other creditors |
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Connect ACR Supplies Ltd
Notes to the Unaudited Financial Statements for the Period from 18 November 2020 to 31 March 2022
Related party transactions |
Summary of transactions with other related parties
Expenditure with and payables to related parties
2022 |
Other related parties |
Amounts payable to related party |
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