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REGISTERED NUMBER: 03333380 (England and Wales)











Unaudited Financial Statements

for the Year Ended 31 March 2023

for

Contact Sales Limited

Contact Sales Limited (Registered number: 03333380)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Balance Sheet 1

Notes to the Financial Statements 3


Contact Sales Limited (Registered number: 03333380)

Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Tangible assets 4 3,753 5,779
Investments 5 25,000 -
28,753 5,779

Current assets
Stocks 336,766 402,059
Debtors 6 344,539 506,571
Cash at bank 1,078,769 902,277
1,760,074 1,810,907
Creditors
Amounts falling due within one year 7 600,978 582,951
Net current assets 1,159,096 1,227,956
Total assets less current liabilities 1,187,849 1,233,735

Provisions for liabilities 938 1,098
Net assets 1,186,911 1,232,637

Capital and reserves
Called up share capital 8 11 11
Retained earnings 9 1,186,900 1,232,626
Shareholders' funds 1,186,911 1,232,637

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Contact Sales Limited (Registered number: 03333380)

Balance Sheet - continued
31 March 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 September 2023 and were signed on its behalf by:





R Stallibrass - Director


Contact Sales Limited (Registered number: 03333380)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. Statutory information

Contact Sales Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 03333380

Registered office: Suite 11
Borough House
Marlborough Road
Banbury
Oxfordshire
OX16 5TH

2. Accounting policies

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Fixtures, fittings and equipment35% Straight line

Investments in associates
Investments in associates are measured at cost less impairment.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Contact Sales Limited (Registered number: 03333380)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

2. Accounting policies - continued

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses .

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Provisions
Provisions are recognised when the charity has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated.

Leases
Rentals payable and receivable under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

Taxation
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

Turnover and other income
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:


Contact Sales Limited (Registered number: 03333380)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

2. Accounting policies - continued
Sales income
Turnover from sales is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on insert detail (eg. dispatch of the goods).

Interest and dividends receivable
Interest income is recognised using the effective interest method and dividend income is recognised as the company's right to receive payment is established.

Employee benefits
When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

The company contributes to a defined contribution workplace pension plan for the benefit of its employees. Contributions are charged to the statement of financial activities in the period to which they relate.

3. Employees and directors

The average number of employees during the year was 11 (2022 - 10 ) .

4. Tangible fixed assets
Furniture
and
equipment
£   
Cost
At 1 April 2022 55,494
Additions 1,902
Disposals (14,036 )
At 31 March 2023 43,360
Depreciation
At 1 April 2022 49,715
Charge for year 3,928
Eliminated on disposal (14,036 )
At 31 March 2023 39,607
Net book value
At 31 March 2023 3,753
At 31 March 2022 5,779

Contact Sales Limited (Registered number: 03333380)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

5. Fixed asset investments
Interest
in
associate
£   
Cost
Additions 25,000
At 31 March 2023 25,000
Net book value
At 31 March 2023 25,000

6. Debtors: amounts falling due within one year
2023 2022
£    £   
Trade debtors 195,057 335,975
Other debtors 8,618 11,472
VAT 50,261 79,946
Prepayments and accrued income 90,603 79,178
344,539 506,571

7. Creditors: amounts falling due within one year
2023 2022
£    £   
Trade creditors 453,931 294,042
Tax 97,380 216,635
Social security and other taxes 9,799 46,753
Other creditors 8,618 12,794
Accrued expenses 31,250 12,727
600,978 582,951

8. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1,000 A Ordinary £0.01 10 10
53 B Ordinary £0.01 1 1
11 11

Contact Sales Limited (Registered number: 03333380)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

9. Reserves
Retained
earnings
£   

At 1 April 2022 1,232,626
Profit for the year 411,274
Dividends (457,000 )
At 31 March 2023 1,186,900