REGISTERED NUMBER: |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 |
FOR |
COMMUNICATIONS AUDIT UK LIMITED |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 |
FOR |
COMMUNICATIONS AUDIT UK LIMITED |
COMMUNICATIONS AUDIT UK LIMITED (REGISTERED NUMBER: 01940384) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
COMMUNICATIONS AUDIT UK LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2023 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
Chargrove House |
Shurdington Road |
Cheltenham |
Gloucestershire |
GL51 4GA |
COMMUNICATIONS AUDIT UK LIMITED (REGISTERED NUMBER: 01940384) |
BALANCE SHEET |
31 MARCH 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
The director acknowledges his responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each 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. |
COMMUNICATIONS AUDIT UK LIMITED (REGISTERED NUMBER: 01940384) |
BALANCE SHEET - continued |
31 MARCH 2023 |
In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
COMMUNICATIONS AUDIT UK LIMITED (REGISTERED NUMBER: 01940384) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2023 |
1. | STATUTORY INFORMATION |
Communications Audit UK Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents the total amount receivable by the company for goods supplied and services provided during the year exclusive of VAT and trade discounts and in the case of contract work the value of the work done during the year, including a proportion of foreseeable profit where this can be assessed with reasonable certainty. |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
Research and development costs |
Expenditure on research is charged to the profit and loss account in the year in which it is incurred. Expenditure on development is charged to the profit and loss account as it is incurred, except where it relates to individual projects, and the recoverability of the expenditure on individual projects is reasonably assured, in which case the expenditure is deferred until the commencement of commercial production and then amortised over the relevant period of production. |
Development costs are being amortised evenly over their estimated useful life. |
Tangible fixed assets |
Property improvements | - |
Plant and machinery | - |
Government grants |
Government grants relating to tangible fixed assets are treated as deferred income and released to the profit and loss over the expected useful lives of the assets to which they relate. Government grants which are not directly attributable to fixed assets are recognised in the profit and loss in accordance with the accruals method in line with FRS 102. |
COMMUNICATIONS AUDIT UK LIMITED (REGISTERED NUMBER: 01940384) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2023 |
2. | ACCOUNTING POLICIES - continued |
Amounts due under contracts, work in progress and stock |
The company recognises revenue under contracts based on the value of work done by the year end including recoverable contract costs, direct costs and a proportion of overheads. Where the outcome of the contract can be assessed with reasonable certainty revenue includes a proportion of profits by reference to the value of work done. |
Amounts recoverable under contracts are included in debtors and are the amounts of work done on the above basis not invoiced by the period end. |
Stocks and work in progress are valued at the lower of cost and estimated selling price less costs to sell, together with a proportion of foreseeable profit where appropriate and after making due allowance for obsolete and slow moving items. |
Cost is calculated using the first-in, first-out method and includes all purchase, transport and handling costs in bringing stocks to their present location and condition and an appropriate proportion of fixed and variable overheads. |
Financial instruments |
Financial instruments are classified by the directors as basic or advanced following the conditions in FRS 102 Section 11. Basic financial instruments are recognised at amortised cost using the effective interest method. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
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. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
Provisions |
Provisions are set up only where it is probable that a present obligation exists as a result of an event prior to the balance sheet date and that a payment will be require in settlement that can be estimated reliably. |
Going concern |
There are no material uncertainties that may cast significant doubt about the company's ability to continue as a going concern. |
COMMUNICATIONS AUDIT UK LIMITED (REGISTERED NUMBER: 01940384) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2023 |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | INTANGIBLE FIXED ASSETS |
Development |
costs |
£ |
COST |
At 1 April 2022 |
and 31 March 2023 |
AMORTISATION |
At 1 April 2022 |
Amortisation for year |
At 31 March 2023 |
NET BOOK VALUE |
At 31 March 2023 |
At 31 March 2022 |
5. | TANGIBLE FIXED ASSETS |
Property | Plant and |
improvements | machinery | Totals |
£ | £ | £ |
COST |
At 1 April 2022 |
Additions |
At 31 March 2023 |
DEPRECIATION |
At 1 April 2022 |
Charge for year |
At 31 March 2023 |
NET BOOK VALUE |
At 31 March 2023 |
At 31 March 2022 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Amounts recoverable on contracts |
Other debtors |
COMMUNICATIONS AUDIT UK LIMITED (REGISTERED NUMBER: 01940384) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2023 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Taxation and social security |
Other creditors |
8. | LEASING AGREEMENTS |
The total minimum lease payments due for operating leases is £45,850 (2022 - £45,868). |
9. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the years ended 31 March 2023 and 31 March 2022: |
2023 | 2022 |
£ | £ |
Balance outstanding at start of year | ( |
) | ( |
) |
Amounts advanced |
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | ( |
) |
There is no interest being charged on the above loan nor any set repayment terms. |
10. | SHARE-BASED PAYMENT TRANSACTIONS |
The ultimate parent company has a share option scheme for the employees of Communications Audit UK Limited. |
The options may be exercised in the event of a sale or flotation of the company. The exercise price per share is £0.01. |
No. of shares |
Outstanding as at 1 April 2022 | 29,600 |
Granted during the period | - |
Forfeited during the period | (2,000) |
Exercised during the period | - |
Expired during the period | - |
Outstanding as at 31 March 2023 | 27,600 |
Exercisable as at 31 March 2023 | 27,600 |