Relate AccountsProduction v2.7.2 v2.7.2 2022-01-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The prinicipal activity of the company is other telecommunications limited. 27 November 2023 09456069 2022-12-31 09456069 2021-12-31 09456069 2020-12-31 09456069 2022-01-01 2022-12-31 09456069 2021-01-01 2021-12-31 09456069 uk-bus:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31 09456069 uk-curr:PoundSterling 2022-01-01 2022-12-31 09456069 uk-bus:SmallCompaniesRegimeForAccounts 2022-01-01 2022-12-31 09456069 uk-bus:FullAccounts 2022-01-01 2022-12-31 09456069 uk-bus:Director1 2022-01-01 2022-12-31 09456069 uk-bus:Director2 2022-01-01 2022-12-31 09456069 uk-bus:RegisteredOffice 2022-01-01 2022-12-31 09456069 uk-bus:Agent1 2022-01-01 2022-12-31 09456069 uk-core:ShareCapital 2022-12-31 09456069 uk-core:ShareCapital 2021-12-31 09456069 uk-core:RetainedEarningsAccumulatedLosses 2022-12-31 09456069 uk-core:RetainedEarningsAccumulatedLosses 2021-12-31 09456069 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2022-12-31 09456069 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2021-12-31 09456069 uk-bus:FRS102 2022-01-01 2022-12-31 09456069 uk-core:OtherPropertyPlantEquipment 2022-01-01 2022-12-31 09456069 uk-core:CurrentFinancialInstruments 2022-12-31 09456069 uk-core:CurrentFinancialInstruments 2021-12-31 09456069 uk-core:WithinOneYear 2022-12-31 09456069 uk-core:WithinOneYear 2021-12-31 09456069 uk-core:WithinOneYear 2022-12-31 09456069 uk-core:WithinOneYear 2021-12-31 09456069 uk-core:AfterOneYear 2022-12-31 09456069 uk-core:AfterOneYear 2021-12-31 09456069 uk-core:BetweenOneTwoYears 2022-12-31 09456069 uk-core:BetweenOneTwoYears 2021-12-31 09456069 uk-core:BetweenTwoFiveYears 2022-12-31 09456069 uk-core:BetweenTwoFiveYears 2021-12-31 09456069 2022-01-01 2022-12-31 09456069 uk-bus:AuditExempt-NoAccountantsReport 2022-01-01 2022-12-31 xbrli:pure iso4217:GBP xbrli:shares
Company Registration Number: 09456069
 
 
Streamlined Communications Limited
 
Directors' Report and Unaudited Financial Statements
 
for the financial year ended 31 December 2022
Streamlined Communications Limited
DIRECTORS AND OTHER INFORMATION

 
Directors Mr. Steven Salvarinov
Mr. Colin David Hutchison
 
 
Company Registration Number 09456069
 
 
Registered Office and Business Address 8 St. James's Square
London
SW1Y 4JU
 
 
Accountants Muldoon & Co
Register accountants and reporting accountants
16 Mount Charles
Belfast
BT7 1NZ



Streamlined Communications Limited
DIRECTORS' REPORT
for the financial year ended 31 December 2022

 
The directors present their report and the unaudited financial statements for the financial year ended 31 December 2022.
 
Principal Activity
The prinicipal activity of the company is other telecommunications limited.
     
Results and Dividends
The (loss)/profit for the financial year after providing for depreciation and taxation amounted to £(225,967) (2021 - £2,346,000).
     
Directors
The directors who served during the financial year are as follows:
     
Mr. Steven Salvarinov
Mr. Colin David Hutchison
   
     
Statement of Directors' Responsibilities
     
The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.
     
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law) including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Section 1A (Small Entities). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period.

In preparing these financial statements, the directors are required to:
- select suitable accounting policies and apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
     
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
     
Special provisions relating to small companies
The above report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.
     
     
On behalf of the board
     
     
___________________________
Mr. Steven Salvarinov
Director
     
27 November 2023



Streamlined Communications Limited
Company Registration Number: 09456069
BALANCE SHEET
as at 31 December 2022

2022 2021
Notes £ £
 
Fixed Assets
 
Tangible assets 4 2,691 461
───────── ─────────
 
Current Assets
 
Debtors 5 12,155,876 7,161,129
 
Cash and cash equivalents 17,394 3,358
───────── ─────────
12,173,270 7,164,487
───────── ─────────
 
Creditors: amounts falling due within one year 6 (7,979,788) (3,323,880)
───────── ─────────
 
Net Current Assets 4,193,482 3,840,607
───────── ─────────
 
Total Assets less Current Liabilities 4,196,173 3,841,068
 
Creditors:
 
amounts falling due after more than one year 7 (611,707) (34,027)
 
 
Suspense (3,392) -
───────── ─────────
Net Assets 3,581,074 3,807,041
═════════ ═════════
 
 
Capital and Reserves
 
Called up share capital 5 5
 
Retained earnings 3,581,069 3,807,036
───────── ─────────
Equity attributable to owners of the company 3,581,074 3,807,041
═════════ ═════════
 
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 company has taken advantage of the exemption under section 444 not to file the Profit and Loss Account.
           
For the financial year ended 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The directors confirm that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.
           
Approved by the Board and authorised for issue on 27 November 2023 and signed on its behalf by
           
           
________________________________          
Mr. Steven Salvarinov          
Director          
           



Streamlined Communications Limited
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 31 December 2022

   
1. General Information
 
Streamlined Communications Limited is a company limited by shares incorporated in the United Kingdom. 8 St. James's Square, St James's, London, SW1Y 4JU is the registered office, which is also the principal place of business of the company. The nature of the company’s operations and its principal activities are set out in the Directors' Report. The financial statements have been presented in Pound Sterling (£) which is also the functional currency of the company.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the year ended 31 December 2022 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Turnover
Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax.
 
Tangible assets and depreciation
Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:
 
  Office Equipment - 20% Reducing Balance
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
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.
 
Borrowing costs
Borrowing costs relating to the acquisition of assets are capitalised at the appropriate rate by adding them to the cost of assets being acquired. Investment income earned on the temporary investment of specific borrowings pending their expenditure on the assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Employee benefits
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The company also operates a defined benefit pension scheme for its employees providing benefits based on final pensionable pay. The assets of this scheme are also held separately from those of the company, being invested with pension fund managers.
 
Taxation and deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
 
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Balance Sheet date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Profit and Loss Account.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
       
3. Employees
 
The average monthly number of employees, including directors, during the financial year was
 
  2022 2021
  Number Number
 
Employee 1 1
Director 2 2
  ───────── ─────────
  3 3
  ═════════ ═════════
       
4. Tangible assets
  Office Equipment Total
     
     
  £ £
Cost
At 1 January 2022 1,328 1,328
Additions 2,620 2,620
  ───────── ─────────
At 31 December 2022 3,948 3,948
  ───────── ─────────
Depreciation
At 1 January 2022 867 867
Charge for the financial year 390 390
  ───────── ─────────
At 31 December 2022 1,257 1,257
  ───────── ─────────
Net book value
At 31 December 2022 2,691 2,691
  ═════════ ═════════
At 31 December 2021 461 461
  ═════════ ═════════
       
5. Debtors 2022 2021
  £ £
 
Trade debtors 5,985,147 2,452,014
Amounts owed by connected parties (Note 9) 4,107,117 3,768,383
Other debtors 120,617 -
Directors' current accounts (Note 10) 1,801,070 798,807
Taxation  (Note 8) 140,120 140,120
Prepayments and accrued income 1,805 1,805
  ───────── ─────────
  12,155,876 7,161,129
  ═════════ ═════════
       
6. Creditors 2022 2021
Amounts falling due within one year £ £
 
Bank overdrafts 8,710 -
Bank loan - 10,648
Other loans - 64,108
Trade creditors 34,652 10,054
Taxation  (Note 8) 1,225,786 1,444,863
Other creditors 6,704,640 1,788,207
Accruals 6,000 6,000
  ───────── ─────────
  7,979,788 3,323,880
  ═════════ ═════════
       
7. Creditors 2022 2021
Amounts falling due after more than one year £ £
 
Bank loan 611,707 34,027
  ═════════ ═════════
 
Loans
Repayable in one year or less, or on demand (Note 6) 8,710 74,756
Repayable between one and two years 480,941 34,027
Repayable between two and five years 130,766 -
  ───────── ─────────
  620,417 108,783
  ═════════ ═════════
 
       
8. Taxation 2022 2021
  £ £
 
Debtors:
Corporation tax 140,120 140,120
  ═════════ ═════════
Creditors:
VAT 64,912 211,145
Corporation tax 1,139,375 1,212,219
PAYE / NI 21,499 21,499
  ───────── ─────────
  1,225,786 1,444,863
  ═════════ ═════════
           
9. Related party transactions
  Balance Movement Balance Maximum
  2022 in year 2021 in year
  £ £ £ £
 
Streamlined Communications Pte Ltd 2,039,072 239,519 1,799,553 5,066
Streamlined Communications Pty Ltd 266,077 64,521 201,556 (2,533)
Streamlined Communications Hong Kong 28,097 - 28,097 -
Streamlined Fitness 1 Wimbledon 481,155 126,501 354,654 -
Streamlined Fitness 2 Chelsea 387,709 (20,722) 408,431 -
Streamlined Investments Ltd 1 338,940 (231,978) 570,918 -
Streamlined Investments Ltd 2 (3,540) (49,450) 45,910 -
Streamlined Fitness 4 215,490 126,990 88,500 -
Streamlined Fitness Holdings Ltd 268,000 - 268,000 -
Streamlined Fitness 3 Ltd 75,650 74,650 1,000 -
Streamlined Fitness 5 Ltd 28,164 26,400 1,764 -
Streamlined Communications Canada 122,398 122,398 - -
Streamlined Fitness 6 Twickenham 100 100 - -
Streamlined Fitness 7 Brentwood 115 115 - -
Streamlined Fitness 8 Wandsworth (140,760) (140,760) - -
Streamlined Fitness 9 Earlsfield 110 110 - -
Streamlined Fitness 10  Canary Wharf 210 210 - -
Streamlined Fitness 11 Imperial Wharf 130 130 - -
  ───────── ───────── ───────── ═════════
  4,107,117 338,734 3,768,383  
  ═════════ ═════════ ═════════  
   
10. Directors' advances, credits and guarantees
 
During the financial year, the company made a loan to a directors amounting to £1,002,263. Interest at the rate of 32.5% per annum is payable half-yearly and the loan is repayable on 31st September 2024