Registered number
04189802
3R TELECOM LIMITED
Filleted Accounts
31 May 2023
3R TELECOM LIMITED
Registered number: 04189802
Balance Sheet
as at 31 May 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 178,580 214,296
Tangible assets 4 229,420 163,380
Investments 5 514,900 514,900
922,900 892,576
Current assets
Stocks 78,162 191,097
Debtors 6 905,012 602,718
Cash at bank and in hand 512,023 668,477
1,495,197 1,462,292
Creditors: amounts falling due within one year 7 (339,948) (253,084)
Net current assets 1,155,249 1,209,208
Total assets less current liabilities 2,078,149 2,101,784
Creditors: amounts falling due after more than one year 8 (31,091) (40,000)
Net assets 2,047,058 2,061,784
Capital and reserves
Called up share capital 759,825 759,825
Share premium 70,000 70,000
Profit and loss account 1,217,233 1,231,959
Shareholders' funds 2,047,058 2,061,784
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr Ramesh Patel Mr Paul Wootten
Director Director
Approved by the board on 22 February 2024 Approved by the board on 22 February 2024
3R TELECOM LIMITED
Notes to the Accounts
for the year ended 31 May 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings Over 30 years on a straight line basis
Plant and machinery 25% Reducing balance basis
Fixtures, fittings, tools and equipment 25% Reducing balance basis
Investment Property
Investment property is initially recognised at cost and then subsequently measure at fair value. Changes in value are recognised in profit and loss.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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 reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 7 7
3 Intangible fixed assets £
Goodwill:
Cost
At 1 June 2022 1,327,160
At 31 May 2023 1,327,160
Amortisation
At 1 June 2022 1,112,864
Provided during the year 35,716
At 31 May 2023 1,148,580
Net book value
At 31 May 2023 178,580
At 31 May 2022 214,296
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 June 2022 224,301 1,772,864 21,870 2,019,035
Additions - 100,199 - 100,199
At 31 May 2023 224,301 1,873,063 21,870 2,119,234
Depreciation
At 1 June 2022 84,819 1,751,061 19,775 1,855,655
Charge for the year 3,135 30,500 524 34,159
At 31 May 2023 87,954 1,781,561 20,299 1,889,814
Net book value
At 31 May 2023 136,347 91,502 1,571 229,420
At 31 May 2022 139,482 21,803 2,095 163,380
5 Investments
Investments in
subsidiary
undertakings
£
Cost
At 1 June 2022 514,900
At 31 May 2023 514,900
The company holds 20% or more of the share capital of the following companies:
Company Shares Held Class % Capital and reserves Profit (Loss) for the year
CES TS Software Limited Ordinary 100 44,235 (18,833)
Octepos Limited Ordinary 100 47,160 (961)
3R Software Solutions Limited Ordinary 100 (219,614) (70,926)
6 Debtors 2023 2022
£ £
Trade debtors 163,014 33,139
Amounts owed by group undertakings and undertakings in which the company has a participating interest 670,401 423,982
Other debtors 71,597 145,597
905,012 602,718
7 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 7,872 10,404
Trade creditors 110,939 105,046
Amounts owed to group undertakings and undertakings in which the company has a participating interest 42,631 42,631
Taxation and social security costs 12,551 1,042
Other creditors 165,955 93,961
339,948 253,084
8 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 31,091 40,000
9 Revaluation reserve 2023 2022
£ £
At 1 June 2022 - 1,919
Loss on revaluation of land and buildings - (1,919)
At 31 May 2023 - -
10 Related party transactions
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transaction with wholly owned subsidaries within the group.
11 Controlling party
The ultimate controlling party is Mr Ramesh Bhikabhai Patel.
12 Principle place of business
3R TELECOM LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
Charter House
8-10 Station Road
Manor Park
London
E12 5BT
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