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Registration number: 03214231

Catalysis Communications Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2021

Pages for Filing with Registrar

 

Catalysis Communications Limited

(Registration number: 03214231)
Balance Sheet as at 31 December 2021

Note

2021
£

2020
£

Fixed assets

 

Tangible assets

6

42,848

22,447

Investments

7

3,705

3,705

 

46,553

26,152

Current assets

 

Debtors

8

1,057,649

1,479,213

Cash at bank and in hand

 

1,713,909

2,305,019

 

2,771,558

3,784,232

Creditors: Amounts falling due within one year

9

(383,975)

(262,023)

Net current assets

 

2,387,583

3,522,209

Net assets

 

2,434,136

3,548,361

Capital and reserves

 

Called up share capital

1,000

1,000

Profit and loss account

2,433,136

3,547,361

Shareholders' funds

 

2,434,136

3,548,361

 

Catalysis Communications Limited

(Registration number: 03214231)
Balance Sheet as at 31 December 2021

For the financial year ending 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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.

Approved and authorised by the Board on 8 August 2022 and signed on its behalf by:
 

.........................................

P L A Sive
Director

 

Catalysis Communications Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

1

General information

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

Principal activity

The principal activity of the company is providing consultancy services to the communications industry.

The address of its registered office is:
Fullwood Place, 4th Floor
Fulwood Place
London
WC1V 6HG
England

2

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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.

Going concern

The financial statements have been prepared on a going concern basis.

Turnover recognition

Turnover comprises the fair value of the consideration received or receivable for the 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.

The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.

 

Catalysis Communications Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

Government grants

Grants relating to revenue are recognised in income on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate. A grant that becomes receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs shall be recognised in income in the period in which it becomes receivable.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rates prevailing on the initial transaction dates.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss,
except that a change attributable to an item of income or expense recognised as other comprehensive
income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted
or substantively enacted by the reporting date in the countries where the company operates and
generates taxable income.

Tangible assets

Tangible assets are stated in the statement of financial position 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

Computer equipment

33% straight line

 

Catalysis Communications Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Financial instruments

Financial instruments held by the company include trade debtors and trade creditors.

Debtors

Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Trade debtors are amount due from customers for services performed in the ordinary course of the business.

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.

Creditors

Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the Company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date, If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

 

Catalysis Communications Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the Company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Significant judgements and estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from those estimates. In the Director's opinion there are no significant judgements or key sources of estimation uncertainty.

4

Other operating income

The analysis of the company's other operating income for the year is as follows:

2021
£

2020
£

Government grants

-

70,854

Other operating income

-

2,155

-

73,009


The company received Covid-19 government support in the previous year of: furlough scheme £70,854.

 

Catalysis Communications Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

5

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 31 (2020 - 35).

6

Tangible assets

Plant and
machinery
 £

Total
£

Cost or valuation

At 1 January 2021

115,123

115,123

Additions

42,855

42,855

Disposals

(28,719)

(28,719)

At 31 December 2021

129,259

129,259

Depreciation

At 1 January 2021

92,676

92,676

Charge for the year

18,000

18,000

Eliminated on disposal

(24,265)

(24,265)

At 31 December 2021

86,411

86,411

Carrying amount

At 31 December 2021

42,848

42,848

At 31 December 2020

22,447

22,447

 

Catalysis Communications Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

7

Investments

2021
£

2020
£

Investments in subsidiaries

3,705

3,705

Subsidiaries

£

Cost or valuation

At 1 January 2021

3,705

Provision

Carrying amount

At 31 December 2021

3,705

At 31 December 2020

3,705

8

Debtors

2021
£

2020
£

Trade debtors

370,375

952,470

Amounts owed by group undertakings and undertakings in which the company has a participating interest

73,878

80,412

Other debtors

613,396

446,331

1,057,649

1,479,213

 

Catalysis Communications Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2021

9

Creditors

Creditors: amounts falling due within one year

2021
£

2020
£

Due within one year

Trade creditors

64,402

32,420

Taxation and social security

140,377

66,841

Other creditors

179,196

162,762

383,975

262,023

10

Dividends

Interim dividends paid

   

2021
£

 

2020
£

Interim dividend of £797 (2020 - £564) per each ordinary share

 

797,076

 

563,543

         

11

Operating leases

The total of future minimum lease payments is as follows:

2021
 £

Not later than one year

112,500

12

Related party transactions

Director's loan account

During the year, the directors received dividends of £797,076 (2020: 563,543), took net drawings of £702,297 (2020: £555,966) and were interest of £17,860 (2020: £14,397). At the balance sheet date amounts owed from the directors were £287,233 (2020: £364,153).