Shout Connect Limited 14133928 false 2022-05-26 2023-05-31 2023-05-31 The principal activity of the company is Other business support service activities not elsewhere classified Digita Accounts Production Advanced 6.30.9574.0 true true 14133928 2022-05-26 2023-05-31 14133928 2023-05-31 14133928 core:CurrentFinancialInstruments 2023-05-31 14133928 core:CurrentFinancialInstruments core:WithinOneYear 2023-05-31 14133928 core:FurnitureFittings 2023-05-31 14133928 core:OfficeEquipment 2023-05-31 14133928 bus:SmallEntities 2022-05-26 2023-05-31 14133928 bus:AuditExemptWithAccountantsReport 2022-05-26 2023-05-31 14133928 bus:FullAccounts 2022-05-26 2023-05-31 14133928 bus:SmallCompaniesRegimeForAccounts 2022-05-26 2023-05-31 14133928 bus:RegisteredOffice 2022-05-26 2023-05-31 14133928 bus:Director1 2022-05-26 2023-05-31 14133928 bus:Director2 2022-05-26 2023-05-31 14133928 bus:Director3 2022-05-26 2023-05-31 14133928 bus:PrivateLimitedCompanyLtd 2022-05-26 2023-05-31 14133928 core:FurnitureFittings 2022-05-26 2023-05-31 14133928 core:OfficeEquipment 2022-05-26 2023-05-31 14133928 countries:AllCountries 2022-05-26 2023-05-31 iso4217:GBP xbrli:pure

Registration number: 14133928

Shout Connect Limited

Annual Report and Unaudited Financial Statements

for the Period from 26 May 2022 to 31 May 2023

 

Shout Connect Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Shout Connect Limited

Company Information

Directors

Mr I T Coupe

Mrs M T Coupe

Mr J Conlin

Registered office

Unit 1
Edward VII Quay
Navigation Way
Preston
PR2 2YF

Accountants

Rotherham Taylor Limited
21 Navigation Business Village
Navigation Way
Ashton-on-Ribble
Preston
PR2 2YP

 

Shout Connect Limited

(Registration number: 14133928)
Balance Sheet as at 31 May 2023

Note

2023
£

Fixed assets

 

Tangible assets

4

74,599

Current assets

 

Debtors

5

59,095

Cash at bank and in hand

 

2,777

 

61,872

Creditors: Amounts falling due within one year

6

(322,403)

Net current liabilities

 

(260,531)

Net liabilities

 

(185,932)

Capital and reserves

 

Called up share capital

100

Retained earnings

(186,032)

Shareholders' deficit

 

(185,932)

For the financial period ending 31 May 2023 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 period 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.

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 23 February 2024 and signed on its behalf by:
 

.........................................
Mr I T Coupe
Director

   
     
 

Shout Connect Limited

Notes to the Unaudited Financial Statements for the Period from 26 May 2022 to 31 May 2023

1

General information

The company is a private company limited by share capital, incorporated in England/Wales.

The address of its registered office is:
Unit 1
Edward VII Quay
Navigation Way
Preston
PR2 2YF

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 on account of assurances given by the directors that they will continue to provide support to the company to meet its financial obligations for the foreseeable future.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the 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.

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.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Shout Connect Limited

Notes to the Unaudited Financial Statements for the Period from 26 May 2022 to 31 May 2023

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

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

Fixtures and Fittings

straight line over three years

Office Equipment

straight line over three years

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.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Shout Connect Limited

Notes to the Unaudited Financial Statements for the Period from 26 May 2022 to 31 May 2023

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.

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.

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 7.

 

Shout Connect Limited

Notes to the Unaudited Financial Statements for the Period from 26 May 2022 to 31 May 2023

4

Tangible assets

Fixtures and fittings
£

Office equipment
£

Total
£

Cost or valuation

Additions

71,466

40,433

111,899

At 31 May 2023

71,466

40,433

111,899

Depreciation

Charge for the period

23,822

13,478

37,300

At 31 May 2023

23,822

13,478

37,300

Carrying amount

At 31 May 2023

47,644

26,955

74,599

5

Debtors

2023
£

Trade debtors

53,568

Prepayments

1,936

Other debtors

3,591

 

59,095

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

Due within one year

 

Loans and borrowings

7

70,211

Trade creditors

 

38,443

Taxation and social security

 

22,278

Accruals and deferred income

 

137,913

Other creditors

 

53,558

 

322,403

Accruals and deferred income includes £133,283 of deferred income which represents income received in advance for events and annual memberships after the period end. The income received is non-refundable.

 

Shout Connect Limited

Notes to the Unaudited Financial Statements for the Period from 26 May 2022 to 31 May 2023

7

Loans and borrowings

2023
£

Current loans and borrowings

Bank overdrafts

511

Directors' loan accounts

69,700

70,211

The directors' loan accounts are non-interest bearing and have no formal repayment terms.