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Registration number: 07136627

One Communication Solutions Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2022

 

One Communication Solutions Ltd

Contents

Company Information

1

Directors' Report

2

Accountants' Report

3

Balance Sheet

4

Notes to the Unaudited Financial Statements

5 to 9

 

One Communication Solutions Ltd

Company Information

Directors

Mr Robert Clark

Mrs Rachael Clark

Company secretary

Mrs Rachael Clark

Registered office

Enterprise House
Tenlons Road
Nuneaton
Warwickshire
CV10 7HR

Accountants

Sheridan Accounting Solutions Limited
Enterprise House
Tenlons Road
Nuneaton
Warwickshire
CV10 7HR

 

One Communication Solutions Ltd

Directors' Report for the Year Ended 31 December 2022

The directors present their report and the financial statements for the year ended 31 December 2022.

Directors of the company

The directors who held office during the year were as follows:

Mr Robert Clark

Mrs Rachael Clark - Company secretary and director

Principal activity

The principal activity of the company is of the provision of mobile voice and data solutions.

Small companies provision statement

This report has 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 28 September 2023 and signed on its behalf by:
 

.........................................
Mr Robert Clark
Director

 

Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
One Communication Solutions Ltd
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 One Communication Solutions Ltd for the year ended 31 December 2022 as set out on pages 4 to 9 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Accounting Technicians (AAT), we are subject to its ethical and other professional requirements which are detailed at https://www.aat.org.uk/prod/s3fs-public/assets/AAT-Code-Professional-Ethics.pdf

This report is made solely to the Board of Directors of One Communication Solutions Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of One Communication Solutions Ltd and state those matters that we have agreed to state to the Board of Directors of One Communication Solutions Ltd, as a body. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than One Communication Solutions Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that One Communication Solutions Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of One Communication Solutions Ltd. You consider that One Communication Solutions Ltd 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 One Communication Solutions Ltd. 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.

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

Sheridan Accounting Solutions Limited
Enterprise House
Tenlons Road
Nuneaton
Warwickshire
CV10 7HR

28 September 2023

 

One Communication Solutions Ltd

(Registration number: 07136627)
Balance Sheet as at 31 December 2022

Note

2022
£

2021
£

Fixed assets

 

Tangible assets

5

54,600

743

Current assets

 

Debtors

6

51,230

27,317

Cash at bank and in hand

 

4,704

15,381

 

55,934

42,698

Creditors: Amounts falling due within one year

7

(30,060)

(25,700)

Net current assets

 

25,874

16,998

Total assets less current liabilities

 

80,474

17,741

Creditors: Amounts falling due after more than one year

7

(72,532)

(17,666)

Net assets

 

7,942

75

Capital and reserves

 

Called up share capital

8

2

2

Retained earnings

7,940

73

Shareholders' funds

 

7,942

75

For the financial 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.

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 28 September 2023 and signed on its behalf by:
 

.........................................
Mr Robert Clark
Director

 

One Communication Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022

1

General information

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

The address of its registered office is:
Enterprise House
Tenlons Road
Nuneaton
Warwickshire
CV10 7HR
England

These financial statements were authorised for issue by the Board on 28 September 2023.

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

The financial statements have been prepared under the historical cost convention and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities Regime'.

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.

Revenue recognition

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

Tax

The tax expense for the period comprises current 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.

 

One Communication Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022

Tangible assets

Tangible assets are stated in the balance sheet 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

10% Reducing Balance

Office Equipment

25% Reducing Balance

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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable 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.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

One Communication Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022

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.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2021 - 2).

4

Profit before tax

Arrived at after charging/(crediting)

2022
£

2021
£

Depreciation expense

2,148

116

 

One Communication Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022

5

Tangible assets

Fixtures and fittings
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2022

2,100

1,115

-

3,215

Additions

-

786

55,219

56,005

At 31 December 2022

2,100

1,901

55,219

59,220

Depreciation

At 1 January 2022

1,501

971

-

2,472

Charge for the year

60

234

1,854

2,148

At 31 December 2022

1,561

1,205

1,854

4,620

Carrying amount

At 31 December 2022

539

696

53,365

54,600

At 31 December 2021

599

144

-

743

6

Debtors

Current

2022
£

2021
£

Trade debtors

29,441

12,622

Other debtors

21,789

14,695

 

51,230

27,317

7

Creditors

Creditors: amounts falling due within one year

2022
£

2021
£

Due within one year

Trade creditors

21,441

5,360

Taxation and social security

6,383

18,104

Accruals and deferred income

2,236

2,236

30,060

25,700

Creditors: amounts falling due after more than one year

 

One Communication Solutions Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2022

Note

2022
£

2021
£

Due after one year

 

Loans and borrowings

9

72,532

17,666

8

Share capital

Allotted, called up and fully paid shares

 

2022

2021

 

No.

£

No.

£

Ordinary Shares of £1 each

2

2

2

2

         

9

Loans and borrowings

2022
£

2021
£

Non-current loans and borrowings

Bank borrowings

15,495

17,666

Other borrowings

57,037

-

72,532

17,666