1 January 2022 false Taxfiler 2023.9 true 09504974business:PrivateLimitedCompanyLtd2022-01-012022-12-31 095049742021-12-31 095049742022-01-012022-12-31 09504974business:AuditExemptWithAccountantsReport2022-01-012022-12-31 09504974business:FilletedAccounts2022-01-012022-12-31 095049742022-12-31 09504974business:Director12022-01-012022-12-31 09504974business:Director22022-01-012022-12-31 09504974business:RegisteredOffice2022-01-012022-12-31 095049742021-12-31 09504974core:WithinOneYear2022-12-31 09504974core:WithinOneYear2021-12-31 09504974core:AfterOneYear2022-12-31 09504974core:AfterOneYear2021-12-31 09504974core:ShareCapitalcore:PreviouslyStatedAmount2022-12-31 09504974core:ShareCapitalcore:PreviouslyStatedAmount2021-12-31 09504974core:SharePremiumcore:PreviouslyStatedAmount2022-12-31 09504974core:SharePremiumcore:PreviouslyStatedAmount2021-12-31 09504974core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2022-12-31 09504974core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2021-12-31 09504974core:PreviouslyStatedAmount2022-12-31 09504974core:PreviouslyStatedAmount2021-12-31 09504974business:SmallEntities2022-01-012022-12-31 09504974countries:EnglandWales2022-01-012022-12-31 09504974core:FurnitureFittings2022-01-012022-12-31 09504974core:ComputerEquipment2022-01-012022-12-31 09504974core:IntangibleAssetsOtherThanGoodwill2021-12-31 09504974core:IntangibleAssetsOtherThanGoodwill2022-12-31 09504974core:FurnitureFittings2021-12-31 09504974core:ComputerEquipment2021-12-31 09504974core:FurnitureFittings2022-12-31 09504974core:ComputerEquipment2022-12-31 095049742021-01-012021-12-31 iso4217:GBP xbrli:pure
Company Registration No. 09504974 (England and Wales)
Close Comms Limited Unaudited accounts for the year ended 31 December 2022
Close Comms Limited Unaudited accounts Contents
Page
- 2 -
Close Comms Limited Company Information for the year ended 31 December 2022
Directors
Mr C N Smith Mr A F Gratte
Company Number
09504974 (England and Wales)
Registered Office
BRIDGE BUILDINGS GODFREY ROAD NEWPORT NP20 4NX WALES
Accountants
STAS Ltd 253 Cowbridge Road West Cardiff CF5 5TD
- 3 -
Close Comms Limited Accountants' report
Accountants' report to the board of directors of Close Comms Limited on the preparation of the unaudited statutory accounts for the year ended 31 December 2022
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Close Comms Limited for the year ended 31 December 2022 as set out on pages 5 - 8 from the company's accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of Close Comms Limited, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the accounts of Close Comms Limited and state those matters that we have agreed to state to them, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Close Comms Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Close Comms Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Close Comms Limited. You consider that Close Comms Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Close Comms Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
STAS Ltd 253 Cowbridge Road West Cardiff CF5 5TD 30 September 2023
- 4 -
Close Comms Limited Statement of financial position as at 31 December 2022
2022 
2021 
Notes
£ 
£ 
Fixed assets
Intangible assets
199,824 
199,824 
Tangible assets
24,084 
24,084 
223,908 
223,908 
Current assets
Debtors
50,765 
403 
Cash at bank and in hand
(1,613)
(16,506)
49,152 
(16,103)
Creditors: amounts falling due within one year
(93,253)
(1,294,622)
Net current liabilities
(44,101)
(1,310,725)
Total assets less current liabilities
179,807 
(1,086,817)
Creditors: amounts falling due after more than one year
(1,271,554)
- 
Net liabilities
(1,091,747)
(1,086,817)
Capital and reserves
Called up share capital
578 
578 
Share premium
1,035,773 
1,035,773 
Profit and loss account
(2,128,098)
(2,123,168)
Shareholders' funds
(1,091,747)
(1,086,817)
For the year ending 31 December 2022 the company was entitled to exemption from audit 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 and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 30 September 2023 and were signed on its behalf by
Mr C N Smith Director Company Registration No. 09504974
- 5 -
Close Comms Limited Notes to the Accounts for the year ended 31 December 2022
1
Statutory information
Close Comms Limited is a private company, limited by shares, registered in England and Wales, registration number 09504974. The registered office is BRIDGE BUILDINGS, GODFREY ROAD, NEWPORT, NP20 4NX, WALES.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
20% reducing balance
Computer equipment
20% reducing balance
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
- 6 -
Close Comms Limited Notes to the Accounts for the year ended 31 December 2022
Going concern
The accounts have been prepared on the going concern basis, as the directors believes that the company is a viable concern. The directors and shareholders have continued to financially support the company to the time of sale of their software platform.
4
Intangible fixed assets
Other 
£ 
Cost
At 1 January 2022
199,824 
At 31 December 2022
199,824 
Amortisation
At 1 January 2022
- 
At 31 December 2022
- 
Net book value
At 31 December 2022
199,824 
At 31 December 2021
199,824 
5
Tangible fixed assets
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 January 2022
6,987 
43,521 
50,508 
At 31 December 2022
6,987 
43,521 
50,508 
Depreciation
At 1 January 2022
3,752 
22,672 
26,424 
At 31 December 2022
3,752 
22,672 
26,424 
Net book value
At 31 December 2022
3,235 
20,849 
24,084 
At 31 December 2021
3,235 
20,849 
24,084 
6
Debtors
2022 
2021 
£ 
£ 
Amounts falling due within one year
VAT
- 
403 
Other debtors
10,765 
- 
10,765 
403 
Amounts falling due after more than one year
Amounts due from group undertakings etc.
40,000 
- 
- 7 -
Close Comms Limited Notes to the Accounts for the year ended 31 December 2022
7
Creditors: amounts falling due within one year
2022 
2021 
£ 
£ 
Trade creditors
1,505 
1,504 
Taxes and social security
91,748 
71,068 
Loans from directors
- 
1,222,050 
93,253 
1,294,622 
8
Creditors: amounts falling due after more than one year
2022 
2021 
£ 
£ 
Amounts owed to group undertakings and other participating interests
1,271,554 
- 
9
Transactions with related parties
During the year MIBA and it's associated parties loaned £795,530 to the company. The balance owing at the end of the year was £1,146,900 and is included within creditors due within 1 year.
10
Controlling party
The controlling party is the MIBA Group by virtue of shares held.
11
Average number of employees
During the year the average number of employees was 12 (2021: 12).
- 8 -