Abbreviated Company Accounts - CONNECT IT (BUSINESS SERVICES) LIMITED

CONNECT IT (BUSINESS SERVICES) LIMITED - Company Information

02512860 CONNECT IT (BUSINESS SERVICES) LIMITED 2014-04-30 false 2013-05-01 2014-04-30 true 02512860 2013-05-01 2014-04-30 02512860 2014-04-30 02512860 2013-04-30 02512860 uk-gaap-cd-bus:Director1 2013-05-01 2014-04-30 02512860 uk-gaap-cd-bus:Director2 2013-05-01 2014-04-30 uk-gaap-cd-bus:OrdinaryShareClass1 2013-05-01 2014-04-30 uk-gaap-cd-bus:OrdinaryShareClass1 2014-04-30 uk-gaap-cd-bus:OrdinaryShareClass1 2013-04-30 iso4217:GBP shares

Registered Number 02512860

CONNECT IT (BUSINESS SERVICES) LIMITED

Abbreviated Accounts

30 April 2014

CONNECT IT (BUSINESS SERVICES) LIMITED Registered Number 02512860

Abbreviated Balance Sheet as at 30 April 2014

	Notes	2014	2013
		£	£
Fixed assets
Tangible assets	2	1	60
		1	60
Current assets
Stocks		55,981	51,349
Debtors		5,383	4,748
		61,364	56,097
Creditors: amounts falling due within one year		(44,984)	(39,563)
Net current assets (liabilities)		16,380	16,534
Total assets less current liabilities		16,381	16,594
Total net assets (liabilities)		16,381	16,594
Capital and reserves
Called up share capital	3	2	2
Profit and loss account		16,379	16,592
Shareholders' funds		16,381	16,594

For the year ending 30 April 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 6 January 2015

And signed on their behalf by:
Mrs P Stones, Director

CONNECT IT (BUSINESS SERVICES) LIMITED Registered Number 02512860

Notes to the Abbreviated Accounts for the period ended 30 April 2014

1Accounting Policies

Basis of measurement and preparation of accounts
The accounts have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities effective April 2008.

Turnover policy
The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.

In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.

Tangible assets depreciation policy
All fixed assets are initially recorded at cost.

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Computer equipment - 25% straight line
Fixtures & Fittings - 20% straight line
Motor Vehicles - 20% straight line

Other accounting policies
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

2Tangible fixed assets

	£
Cost
At 1 May 2013	33,845
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 30 April 2014	33,845
Depreciation
At 1 May 2013	33,785
Charge for the year	59
On disposals	-
At 30 April 2014	33,844
Net book values
At 30 April 2014	1
At 30 April 2013	60

3Called Up Share Capital
Allotted, called up and fully paid:

	2014 £	2013 £
2 Ordinary shares of £1 each	2	2