Silverfin false 31/03/2023 01/04/2022 31/03/2023 P Kopec 25/03/2024 A Williamson 23/03/2024 20/05/2010 23 April 2024 The principal activity of the Company during the financial year continued to be the provision of wireless technology products and services. SC301076 2023-03-31 SC301076 bus:Director1 2023-03-31 SC301076 bus:Director2 2023-03-31 SC301076 2022-03-31 SC301076 core:CurrentFinancialInstruments 2023-03-31 SC301076 core:CurrentFinancialInstruments 2022-03-31 SC301076 core:Non-currentFinancialInstruments 2023-03-31 SC301076 core:Non-currentFinancialInstruments 2022-03-31 SC301076 core:ShareCapital 2023-03-31 SC301076 core:ShareCapital 2022-03-31 SC301076 core:RetainedEarningsAccumulatedLosses 2023-03-31 SC301076 core:RetainedEarningsAccumulatedLosses 2022-03-31 SC301076 core:PlantMachinery 2022-03-31 SC301076 core:OfficeEquipment 2022-03-31 SC301076 core:PlantMachinery 2023-03-31 SC301076 core:OfficeEquipment 2023-03-31 SC301076 core:RemainingRelatedParties core:CurrentFinancialInstruments 2023-03-31 SC301076 core:RemainingRelatedParties core:CurrentFinancialInstruments 2022-03-31 SC301076 bus:OrdinaryShareClass1 2023-03-31 SC301076 2022-04-01 2023-03-31 SC301076 bus:FullAccounts 2022-04-01 2023-03-31 SC301076 bus:SmallEntities 2022-04-01 2023-03-31 SC301076 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 SC301076 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 SC301076 bus:Director1 2022-04-01 2023-03-31 SC301076 bus:Director2 2022-04-01 2023-03-31 SC301076 core:PlantMachinery core:TopRangeValue 2022-04-01 2023-03-31 SC301076 core:OfficeEquipment core:TopRangeValue 2022-04-01 2023-03-31 SC301076 2021-04-01 2022-03-31 SC301076 core:PlantMachinery 2022-04-01 2023-03-31 SC301076 core:OfficeEquipment 2022-04-01 2023-03-31 SC301076 core:Non-currentFinancialInstruments 2022-04-01 2023-03-31 SC301076 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 SC301076 bus:OrdinaryShareClass1 2021-04-01 2022-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC301076 (Scotland)

CONTACT CD LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 MARCH 2023
PAGES FOR FILING WITH THE REGISTRAR

CONTACT CD LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2023

Contents

CONTACT CD LIMITED

BALANCE SHEET

AS AT 31 MARCH 2023
CONTACT CD LIMITED

BALANCE SHEET (continued)

AS AT 31 MARCH 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 1,961 2,918
1,961 2,918
Current assets
Debtors 4 143,724 145,986
Cash at bank and in hand ( 3,984) 3,270
139,740 149,256
Creditors: amounts falling due within one year 5 ( 110,797) ( 136,035)
Net current assets 28,943 13,221
Total assets less current liabilities 30,904 16,139
Creditors: amounts falling due after more than one year 6 ( 25,089) ( 31,478)
Net assets/(liabilities) 5,815 ( 15,339)
Capital and reserves
Called-up share capital 7 100 100
Profit and loss account 5,715 ( 15,439 )
Total shareholders' funds/(deficit) 5,815 ( 15,339)

For the financial year ending 31 March 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Contact CD Limited (registered number: SC301076) were approved and authorised for issue by the Director on 23 April 2024. They were signed on its behalf by:

P Kopec
Director
CONTACT CD LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2023
CONTACT CD LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MARCH 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Contact CD Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is 25 Portland Road, Kilmarnock, KA1 2BT, Scotland, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover represents amounts receivable for goods net of VAT and is recognisable on an accruals basis.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised as an expense when the Company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery 4 years straight line
Office equipment 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss.

If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks and bank overdrafts.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans and loans from fellow group companies, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 2 2

3. Tangible assets

Plant and machinery Office equipment Total
£ £ £
Cost
At 01 April 2022 5,609 13,926 19,535
At 31 March 2023 5,609 13,926 19,535
Accumulated depreciation
At 01 April 2022 5,609 11,008 16,617
Charge for the financial year 0 957 957
At 31 March 2023 5,609 11,965 17,574
Net book value
At 31 March 2023 0 1,961 1,961
At 31 March 2022 0 2,918 2,918

4. Debtors

2023 2022
£ £
Trade debtors 126,372 0
Amounts owed by related parties 16,023 129,622
Other debtors 1,329 16,364
143,724 145,986

5. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans 9,703 9,022
Trade creditors 27,584 4,800
Amounts owed to related parties 44,678 110,800
Corporation tax 5,953 599
Other taxation and social security 3,390 2,762
Other creditors 19,489 8,052
110,797 136,035

6. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 25,089 31,478

There are no amounts included above in respect of which any security has been given by the small entity.

7. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
100 ordinary shares of £ 1.00 each 100 100

8. Related party transactions

Transactions with the entity's director

2023 2022
£ £
Amounts due from key management personnel 0 7,287
Amounts due to key management personnel 13,589 0

Other related party transactions

2023 2022
£ £
Amounts due to related parties 44,678 110,800
Amounts due from related parties 16,439 129,623