Caseware UK (AP4) 2022.0.179 2022.0.179 2023-12-312023-12-312023-01-0125falsefalseNo description of principal activity24trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 09322680 2023-01-01 2023-12-31 09322680 2022-01-01 2022-12-31 09322680 2023-12-31 09322680 2022-12-31 09322680 c:Director1 2023-01-01 2023-12-31 09322680 d:FurnitureFittings 2023-01-01 2023-12-31 09322680 d:FurnitureFittings 2023-12-31 09322680 d:FurnitureFittings 2022-12-31 09322680 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 09322680 d:OfficeEquipment 2023-01-01 2023-12-31 09322680 d:OfficeEquipment 2023-12-31 09322680 d:OfficeEquipment 2022-12-31 09322680 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 09322680 d:ComputerEquipment 2023-01-01 2023-12-31 09322680 d:ComputerEquipment 2023-12-31 09322680 d:ComputerEquipment 2022-12-31 09322680 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 09322680 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 09322680 d:CurrentFinancialInstruments 2023-12-31 09322680 d:CurrentFinancialInstruments 2022-12-31 09322680 d:Non-currentFinancialInstruments 2023-12-31 09322680 d:Non-currentFinancialInstruments 2022-12-31 09322680 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 09322680 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 09322680 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 09322680 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 09322680 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-12-31 09322680 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-12-31 09322680 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-12-31 09322680 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-12-31 09322680 d:ShareCapital 2023-12-31 09322680 d:ShareCapital 2022-12-31 09322680 d:RetainedEarningsAccumulatedLosses 2023-12-31 09322680 d:RetainedEarningsAccumulatedLosses 2022-12-31 09322680 c:FRS102 2023-01-01 2023-12-31 09322680 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 09322680 c:FullAccounts 2023-01-01 2023-12-31 09322680 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 09322680 d:HirePurchaseContracts d:WithinOneYear 2023-12-31 09322680 d:HirePurchaseContracts d:WithinOneYear 2022-12-31 09322680 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-12-31 09322680 d:HirePurchaseContracts d:BetweenOneFiveYears 2022-12-31 iso4217:GBP xbrli:pure

Registered number: 09322680









ARMOUR COMMUNICATIONS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
ARMOUR COMMUNICATIONS LIMITED
REGISTERED NUMBER: 09322680

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
75,567
10,269

  
75,567
10,269

Current assets
  

Debtors: amounts falling due within one year
 5 
197,782
80,768

Cash at bank and in hand
 6 
6,994
144

  
204,776
80,912

Creditors: amounts falling due within one year
 7 
(1,709,117)
(1,665,346)

Net current liabilities
  
 
 
(1,504,341)
 
 
(1,584,434)

Total assets less current liabilities
  
(1,428,774)
(1,574,165)

Creditors: amounts falling due after more than one year
 8 
(414,745)
(416,110)

  

Net liabilities
  
(1,843,519)
(1,990,275)

Page 1

 
ARMOUR COMMUNICATIONS LIMITED
REGISTERED NUMBER: 09322680
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

2023
2022
£
£

Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
(1,843,521)
(1,990,277)

  
(1,843,519)
(1,990,275)


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
D Holman
Director

Date: 12 March 2024

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
ARMOUR COMMUNICATIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Armour Communications Limited (the Company) is a company incorporated in the United Kingdom under the Companies Act.
The Company is a private company limited by shares and is registered in England and Wales. The address of the Company’s registered office is Portsoken House, 155-157 Minories, London, England, EC3N 1LJ.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

After making enquiries, at the time of approving the financial statements, the Directors expect that Armour Communications Limited will continue in operational existence for the foreseeable future, and for a period of not less than 12 months from the date of signing of the financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP and the financial statements are rounded to the nearest £.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Page 3

 
ARMOUR COMMUNICATIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.5

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.8

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

 
ARMOUR COMMUNICATIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.9

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.10

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

The estimated useful lives range as follows:

Fixtures and fittings
-
3
years
Office equipment
-
3
years
Computer equipment
-
3
years

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 5

 
ARMOUR COMMUNICATIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.14

Financial instruments

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.


3.


Employees

The average monthly number of employees, including directors, during the year was 24 (2022 - 25).


4.


Tangible fixed assets





Fixtures and fittings
Office equipment
Computer equipment
Total

£
£
£
£



Cost or valuation


At 1 January 2023
19,289
3,391
132,100
154,780


Additions
-
-
75,096
75,096



At 31 December 2023

19,289
3,391
207,196
229,876



Depreciation


At 1 January 2023
19,289
3,391
121,831
144,511


Charge for the year on owned assets
-
-
9,798
9,798



At 31 December 2023

19,289
3,391
131,629
154,309



Net book value



At 31 December 2023
-
-
75,567
75,567



At 31 December 2022
-
-
10,269
10,269

The net book value of assets held under finance leases or hire purchase contracts are £65,942 (2022 : £Nil).

Page 6

 
ARMOUR COMMUNICATIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Debtors

2023
2022
£
£


Trade debtors
152,711
32,987

Other debtors
34,486
43,029

Prepayments and accrued income
10,585
4,752

197,782
80,768



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
6,994
144

Less: bank overdrafts
(6,250)
(75,860)

744
(75,716)



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank overdrafts
6,250
75,860

Other loans
76,971
338,487

Trade creditors
33,909
39,388

Other taxation and social security
291,104
187,813

Obligations under finance lease and hire purchase contracts
36,989
-

Other creditors
130,955
119,779

Accruals and deferred income
1,132,939
904,019

1,709,117
1,665,346


Page 7

 
ARMOUR COMMUNICATIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Other loans
370,784
416,110

Net obligations under finance leases and hire purchase contracts
43,961
-


The following liabilities were secured:

2023
2022
£
£



Other loans
66,829
397,530

Details of security provided:

The security on the above facility from Boost & Co through IL2 SARL is a fixed and floating charge covering all property or undertaking of the Company.


9.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Other loans
76,971
338,487

Amounts falling due 1-2 years

Other loans
10,398
79,076

Amounts falling due 2-5 years

Other loans
360,386
337,034


447,755
754,597


Page 8

 
ARMOUR COMMUNICATIONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

10.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2023
2022
£
£


Within one year
36,989
-

Between 1-5 years
43,961
-

80,950
-


11.


Pension commitments

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 pension cost charge represents contributions payable by the Company to the fund and amounted to £55,321 (2022 - £25,400). Contributions totalling £11,538 (2022 - £6,218) were payable to the fund at the balance sheet date and are included in other creditors.

 
Page 9