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Registration number: 08128143

Comms Unite Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 December 2022

 

Comms Unite Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Comms Unite Ltd

Company Information

Directors

Mr Nicholas Brian Shaw

Mr Leo Alexander Elward

Mr Richard George Campbell Shaw

Registered office

BT Innovation Centre
Columba House
Martlesham
Suffolk
IP5 3RE

Accountants

Anthony Russel Limited
Winghams House
9 Freeport Office Village
Century Drive
Braintree
Essex
CM77 8YG

 

Comms Unite Ltd

(Registration number: 08128143)
Balance Sheet as at 30 December 2022

Note

2022
 £

2021
 £

fixed assets

 

tangible assets

4

123,545

108,078

Current assets

 

stocks

5

33,961

52,734

Debtors

6

194,279

303,361

Cash at bank and in hand

 

77,512

40,669

 

305,752

396,764

Creditors: Amounts falling due within one year

7

(411,090)

(337,749)

Net current (liabilities)/assets

 

(105,338)

59,015

Total assets less current liabilities

 

18,207

167,093

Creditors: Amounts falling due after more than one year

7

(174,759)

(35,000)

Provisions for liabilities

(22,322)

(20,278)

Net (liabilities)/assets

 

(178,874)

111,815

capital and reserves

 

Called up share capital

100

100

Profit and loss account

(178,974)

111,715

Total equity

 

(178,874)

111,815

For the financial year ending 30 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.

 

Comms Unite Ltd

(Registration number: 08128143)
Balance Sheet as at 30 December 2022

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 18 October 2023 and signed on its behalf by:
 

.........................................
Mr Nicholas Brian Shaw
Director

 

Comms Unite Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 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:
BT Innovation Centre
Columba House
Martlesham
Suffolk
IP5 3RE
England

These financial statements were authorised for issue by the Board on 18 October 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

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' 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 and after eliminating sales within the company.

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.

 

Comms Unite Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 December 2022

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 rate on the date when the fair value is re-measured.

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

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

Improvements to Property

25% reducing balance

Computer 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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Comms Unite Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 December 2022

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.

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

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 13 (2021 - 10).

 

Comms Unite Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 December 2022

4

Tangible assets

Furniture, fittings and equipment
 £

Improvements to Property
£

Total
£

Cost or valuation

At 31 December 2021

206,391

3,448

209,839

Additions

45,037

6,063

51,100

At 30 December 2022

251,428

9,511

260,939

Depreciation

At 31 December 2021

99,663

2,097

101,760

Charge for the year

34,283

1,351

35,634

At 30 December 2022

133,946

3,448

137,394

Carrying amount

At 30 December 2022

117,482

6,063

123,545

At 30 December 2021

106,728

1,350

108,078

5

Stocks

2022
£

2021
£

Other inventories

33,961

52,734

 

Comms Unite Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 December 2022

6

Debtors

2022
 £

2021
 £

Trade debtors

128,740

135,305

Other debtors

15,897

15,895

Prepayments

-

47,446

Accrued income

2,744

38,458

Director current account

46,898

66,257

Total current trade and other debtors

194,279

303,361

 

Comms Unite Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 December 2022

7

Creditors

Creditors: amounts falling due within one year

Note

2022
 £

2021
 £

Due within one year

 

Bank loans and overdrafts

47,191

10,000

Trade creditors

 

89,285

120,123

Other creditors

 

5,389

3,990

Accrued expenses

 

5,850

4,000

Corporation tax

 

19,866

39,726

PAYE and NIC

 

113,651

46,523

VAT

 

129,858

113,387

 

411,090

337,749

Creditors: amounts falling due after more than one year

Note

2022
£

2021
£

Due after one year

 

Loans and borrowings

174,759

35,000

8

Related party transactions

Transactions with directors

The following advances and credits to a director subsisted during the years ended 30 December 2022 and 30 December 2021:

Interest is charged on the overdrawn loans at 2% per annum.

Transactions with directors

2022

At 31 December 2021
£

Advances to director
£

Repayments by director
£

At 30 December 2022
£

66,256

23,967

(43,326)

46,897

         
       

 

 

Comms Unite Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 December 2022

2021

At 31 December 2020
£

Advances to director
£

Repayments by director
£

At 30 December 2021
£

38,713

67,226

(39,683)

66,256

         
       

 

Directors' remuneration

The directors' remuneration for the year was as follows:

2022
£

2021
£

Remuneration

118,750

94,750