Registered number: 05738834
INHOUSE COMMUNICATIONS LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
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INHOUSE COMMUNICATIONS LIMITED
Company Information
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INHOUSE COMMUNICATIONS LIMITED
Registered number: 05738834
Balance Sheet
As at 31 March 2023
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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Capital redemption reserve
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INHOUSE COMMUNICATIONS LIMITED
Registered number: 05738834
Balance Sheet (continued)
As at 31 March 2023
The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 25 October 2023.
The notes on pages 3 to 7 form part of these financial statements.
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INHOUSE COMMUNICATIONS LIMITED
Notes to the Financial Statements
For the Year Ended 31 March 2023
Inhouse Communications Limited is a private company limited by shares incorporated in England and Wales. The registered office address and principal place of business is Kings Building, 16 Smith Square, London, England, SW1P 3JJ. The financial statements are presented in Sterling (£).
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The following principal accounting policies have been applied:
Turnover represents amounts receivable for services net of VAT and trade discounts. Turnover is recognised in the period in which the service is provided.
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.
Depreciation is provided on the following basis:
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Short leasehold improvement
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Fixtures, fittings and equipment
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INHOUSE COMMUNICATIONS LIMITED
Notes to the Financial Statements
For the Year Ended 31 March 2023
2.Accounting policies (continued)
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Tangible fixed assets (continued)
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The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.
The Company only enters into basic financial instrument 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 ordinary shares.
Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
Rentals payable under operating leases, including any lease incentives received, are charged to income on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease asset are consumed.
The functional and presentational currency is Sterling (£). Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation are included in the profit and loss account for the period.
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INHOUSE COMMUNICATIONS LIMITED
Notes to the Financial Statements
For the Year Ended 31 March 2023
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The average monthly number of employees, including directors, during the year was 20 (2022 - 17).
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INHOUSE COMMUNICATIONS LIMITED
Notes to the Financial Statements
For the Year Ended 31 March 2023
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Short leasehold improvement
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Prepayments and accrued income
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INHOUSE COMMUNICATIONS LIMITED
Notes to the Financial Statements
For the Year Ended 31 March 2023
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Creditors: Amounts falling due within one year
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Other taxation and social security
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Accruals and deferred income
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Creditors: Amounts falling due after more than one year
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Allotted, called up and fully paid
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12,000 (2022 - 15,733) Ordinary shares shares of £0.01 each
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On 21 July 2022 the company purchased 1,867 of it's own ordinary shares of £0.01 each for a total consideration of £175,031.25. On 20 January 2023 the company purchased 1,866 of it's own ordinary shares of £0.01 each for a total consideration of £174,937.50. The shares were cancelled on the same date.
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