REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 30 April 2020 |
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for |
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ICONNECT SPACE LTD |
REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 30 April 2020 |
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for |
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ICONNECT SPACE LTD |
ICONNECT SPACE LTD (REGISTERED NUMBER: 09563113) |
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Contents of the Financial Statements |
for the Year Ended 30 April 2020 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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ICONNECT SPACE LTD |
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Company Information |
for the Year Ended 30 April 2020 |
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Director: |
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Secretary: |
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Registered office: |
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Registered number: |
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Accountants: |
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First Floor, Templeback |
10 Temple back |
Bristol |
BS1 6FL |
ICONNECT SPACE LTD (REGISTERED NUMBER: 09563113) |
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Balance Sheet |
30 April 2020 |
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30/4/20 | 30/4/19 |
Notes | £ | £ |
CURRENT ASSETS |
Debtors | 4 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 5 | ( |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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( |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings | ( |
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SHAREHOLDERS' FUNDS | ( |
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The director acknowledges his 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. |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the director and authorised for issue on
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ICONNECT SPACE LTD (REGISTERED NUMBER: 09563113) |
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Notes to the Financial Statements |
for the Year Ended 30 April 2020 |
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1. | Statutory information |
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Iconnect Space Ltd is a
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | Accounting policies |
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Basis of preparing the financial statements |
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Turnover |
Revenue is measured at the fair value of the consideration received or receivable and represents amounts receivable for services provided in the normal course of business, net of discounts, VAT and other sales related taxes. |
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Sale of services are recognised when services are delivered and title has passed. |
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Financial instruments |
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS102 to all of its financial instruments. |
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Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. |
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Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. |
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Classification of financial liabilities |
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. |
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Basic financial liabilities |
Basic financial liabilities, including creditors, and loans from fellow group companies are initially recognised at transaction price. |
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Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are initially recognised at transaction price. |
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Interest bearing bank loans, overdrafts and other loans which meet the criteria to be classified as basic financial instruments are initially recorded at the present value of cash payable to the bank, which is ordinarily equal to the proceeds received net of direct issue costs. These liabilities are subsequently measured at amortised cost, using the effective interest rate method. |
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Going concern |
The balance sheet shows an excess of current liabilities over current assets. The director who is the sole shareholder has agreed to support the company financially and has also determined the company will be able to continue as a going concern for the period of 12 months from the date of the financial statements. |
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3. | Employees and directors |
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The average number of employees during the year was NIL (2019 - NIL). |
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4. | Debtors: amounts falling due within one year |
30/4/20 | 30/4/19 |
£ | £ |
Prepayments |
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ICONNECT SPACE LTD (REGISTERED NUMBER: 09563113) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 April 2020 |
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5. | Creditors: amounts falling due within one year |
30/4/20 | 30/4/19 |
£ | £ |
Trade creditors |
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Directors' current accounts | 1,329 | 1,329 |
Accrued expenses |
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