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REGISTERED NUMBER: 05817154 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2023

FOR

TRUE TELECOMMUNICATIONS LIMITED

TRUE TELECOMMUNICATIONS LIMITED (REGISTERED NUMBER: 05817154)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31st March 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


TRUE TELECOMMUNICATIONS LIMITED

COMPANY INFORMATION
for the Year Ended 31st March 2023







DIRECTORS: Mr J Marchant
Mr S Bell





SECRETARY: Mr J Marchant





REGISTERED OFFICE: C/O KJG 100 Barbirolli Square
Manchester
M2 3BD





REGISTERED NUMBER: 05817154 (England and Wales)





ACCOUNTANTS: KJG
100 Barbirolli Square
Manchester
M2 3BD

TRUE TELECOMMUNICATIONS LIMITED (REGISTERED NUMBER: 05817154)

BALANCE SHEET
31st March 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 232 290
Investments 5 12,752 20,000
Investment property 6 88,108 -
101,092 20,290

CURRENT ASSETS
Debtors 7 28,688 38,675
Cash at bank 34,134 62,196
62,822 100,871
CREDITORS
Amounts falling due within one year 8 (77,924 ) (118,482 )
NET CURRENT LIABILITIES (15,102 ) (17,611 )
TOTAL ASSETS LESS CURRENT LIABILITIES 85,990 2,679

CREDITORS
Amounts falling due after more than one
year

9

(54,000

)

-
NET ASSETS 31,990 2,679

CAPITAL AND RESERVES
Called up share capital 10 1,000 1,000
Retained earnings 30,990 1,679
SHAREHOLDERS' FUNDS 31,990 2,679

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st 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.

TRUE TELECOMMUNICATIONS LIMITED (REGISTERED NUMBER: 05817154)

BALANCE SHEET - continued
31st 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 13th October 2023 and were signed on its behalf by:





Mr J Marchant - Director


TRUE TELECOMMUNICATIONS LIMITED (REGISTERED NUMBER: 05817154)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31st March 2023


1. STATUTORY INFORMATION

True Telecommunications Limited is a private company limited by share capital, registered in England and Wales, registration number 05817154. The address of the registered office isC/O KJG, 100 Barbirolli Square, Manchester, United Kingdom, M2 3BD. The address of the principle place of business is Pine Ridge, Cross Stone Road, Todmorden, OL14 8RB.

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 as modified by the revaluation of certain assets.

Turnover
Turnover represents amounts recognised by the company in respect of goods and services supplied, exclusive of Value Added Tax and trade discounts. Turnover principally consists of airtime and landline rentals, which are recognised at the point of which the goods and services are provided.

Tangible fixed assets
Plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses.

Depreciation on plant and equipment is charged to the profit and loss so as to write off their value, over their estimated useful lives, using the following methods:

Fixtures and fittings-20% reducing balance

At each balance sheet date, the Company reviews the carrying amounts of its property, plant and equipment to determine whether there is any indication that any items of property, plant and equipment have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. Impairment loss is recognised as an expense immediately.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an 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.


TRUE TELECOMMUNICATIONS LIMITED (REGISTERED NUMBER: 05817154)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st March 2023


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.

Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost.

Cash and cash equivalents
Cash and cash equivalents comprise cash at bank.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1st April 2022
and 31st March 2023 9,417
DEPRECIATION
At 1st April 2022 9,127
Charge for year 58
At 31st March 2023 9,185
NET BOOK VALUE
At 31st March 2023 232
At 31st March 2022 290

TRUE TELECOMMUNICATIONS LIMITED (REGISTERED NUMBER: 05817154)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st March 2023


5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1st April 2022 20,000
Additions 10,050
Revaluations (17,298 )
At 31st March 2023 12,752
NET BOOK VALUE
At 31st March 2023 12,752
At 31st March 2022 20,000

Cost or valuation at 31st March 2023 is represented by:

Other
investments
£   
Valuation in 2023 (17,298 )
Cost 30,050
12,752

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
Additions 88,108
At 31st March 2023 88,108
NET BOOK VALUE
At 31st March 2023 88,108

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 26,087 37,269
Other debtors 2,601 1,406
28,688 38,675

TRUE TELECOMMUNICATIONS LIMITED (REGISTERED NUMBER: 05817154)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st March 2023


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 43,517 67,727
Taxation and social security 32,322 34,143
Other creditors 2,085 16,612
77,924 118,482

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Other creditors 54,000 -

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
600 Ordinary A £1 600 600
200 Ordinary B £1 200 200
200 Ordinary C £1 200 200
1,000 1,000