Company registration number 11093289 (England and Wales)
A CONNOLLY COMMERCIAL LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
PAGES FOR FILING WITH REGISTRAR
A CONNOLLY COMMERCIAL LIMITED
COMPANY INFORMATION
Directors
Mr A Connolly
Mrs M F Connolly
Mr C J Connolly
Secretary
Mr A Connolly
Company number
11093289
Registered office
The Old Dairy
Leeds Street
Wigan
Lancs
WN3 4BW
Auditor
Goldblatts
4th Floor
4 Tabernacle Street
London
EC2A 4LU
Business address
The Old Dairy
Leeds Street
Wigan
Lancs
WN3 4BW
A CONNOLLY COMMERCIAL LIMITED
CONTENTS
Page
Directors' report
1 - 2
Balance sheet
3
Notes to the financial statements
4 - 6
A CONNOLLY COMMERCIAL LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MARCH 2022
- 1 -
The directors present their annual report and financial statements for the year ended 31 March 2022.
Principal activities
During the year the company continued trading in commercial building construction.
Directors
The directors who held office during the year and up to the date of signature of the financial statements were as follows:
Mr A Connolly
Mrs M F Connolly
Mr C J Connolly
Auditor
The auditor, Goldblatts, is deemed to be reappointed under section 487(2) of the Companies Act 2006.
Statement of directors' responsibilities
The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:
-
select suitable accounting policies and then apply them consistently;
-
make judgements and accounting estimates that are reasonable and prudent;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
A CONNOLLY COMMERCIAL LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
- 2 -
Statement of disclosure to auditor
So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s
auditor
is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s
auditor
is aware of that information.
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
On behalf of the board
Mr C J Connolly
Director
22 December 2022
A CONNOLLY COMMERCIAL LIMITED
BALANCE SHEET
AS AT
31 MARCH 2022
31 March 2022
- 3 -
2022
2021
Notes
£
£
£
£
Current assets
Debtors
3
888,820
1,019,788
Cash at bank and in hand
156,336
467,101
1,045,156
1,486,889
Creditors: amounts falling due within one year
4
(1,025,658)
(1,106,038)
Net current assets
19,498
380,851
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
19,398
380,751
Total equity
19,498
380,851
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 22 December 2022 and are signed on its behalf by:
Mr C J Connolly
Director
Company Registration No. 11093289
A CONNOLLY COMMERCIAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
- 4 -
1
Accounting policies
Company information
A Connolly Commercial Limited is a
private
company
limited by shares
incorporated in
England and Wales
.
The registered office is
The Old Dairy, Leeds Street, Wigan, Lancs, WN3 4BW.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business
, and
is shown net of VAT and other sales related taxes
.
The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that
it is probable will be
recover
ed
.
1.3
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
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.
1.4
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the
profit and loss account
because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The
company’s
liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
A CONNOLLY COMMERCIAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
1
Accounting policies
(Continued)
- 5 -
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
1.5
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or
fixed assets
.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.6
Government grants
Government grants are recognised at the fair value of the asset receive
d
or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met
. Where a
grant does not specify performance conditions
it
is recognised in income when the proceeds are received or receivable
. A grant received before the recognition criteria are satisfied is recognised as a liability.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2022
2021
Number
Number
Total
3
3
3
Debtors
2022
2021
Amounts falling due within one year:
£
£
Trade debtors
577,560
819,888
Amounts owed by group undertakings
131,267
Other debtors
179,993
199,900
888,820
1,019,788
The amounts due from group undertakings are interest free, with no security and no fixed repayment terms.
A CONNOLLY COMMERCIAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2022
- 6 -
4
Creditors: amounts falling due within one year
2022
2021
£
£
Trade creditors
9,331
77,761
Amounts owed to group undertakings
65,453
391,578
Taxation and social security
184,000
111,019
Other creditors
766,874
525,680
1,025,658
1,106,038
The amounts due
to
group undertakings are interest free, with no security and no fixed repayment terms.
5
Audit report information
As the income statement has been omitted from the filing copy of the financial statements
,
the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006
:
The auditor's report was unqualified.
Senior Statutory Auditor:
Seamus Ferguson FCA
Statutory Auditor:
Goldblatts
6
Related party transactions
The following amounts were outstanding at the reporting end date:
2022
2021
Amounts due to related parties
£
£
Entities with control, joint control or significant influence over the company
199,900
The following amounts were outstanding at the reporting end date:
2022
2021
Amounts due from related parties
£
£
Entities with control, joint control or significant influence over the company
131,267
-
7
Parent company
The parent company is A Connolly Holdings Limited whose registered office is The Old Dairy, Leeds Street, Wigan, Lancs, WN3 4BW.
The ultimate parent company is The Connolly Group Limited whose registered office is The Old Dairy, Leeds Street, Wigan, Lancs, WN3 4BW.
The Connolly Group Limited
prepare
s
group financial statements and copies can be obtained from -
The Company Secretary,
The Connolly Group Limited, The Old Dairy, Leeds Street, Wigan, Lancs,WN3 4BW.