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REGISTERED NUMBER: 01945200 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Owen Communications Limited

Owen Communications Limited (Registered number: 01945200)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Owen Communications Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: A Biggs
S M Sponder
D P Mattingley





REGISTERED OFFICE: Longcroft Barn
Priors Leaze Lane
Nutbourne
Chichester
West Sussex
PO18 8RH





REGISTERED NUMBER: 01945200 (England and Wales)





ACCOUNTANTS: Hughes Spencer
12 Acorn Business Park
Northarbour Road
Portsmouth
Hampshire
PO6 3TH

Owen Communications Limited (Registered number: 01945200)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 8,200 10,250
Tangible assets 5 54,365 23,847
Investments 6 - 100
62,565 34,197

CURRENT ASSETS
Debtors 7 280,154 244,394
Cash at bank and in hand 124,095 938
404,249 245,332
CREDITORS
Amounts falling due within one year 8 214,764 110,650
NET CURRENT ASSETS 189,485 134,682
TOTAL ASSETS LESS CURRENT
LIABILITIES

252,050

168,879

PROVISIONS FOR LIABILITIES 13,134 4,107
NET ASSETS 238,916 164,772

CAPITAL AND RESERVES
Called up share capital 1,002 1,002
Retained earnings 237,914 163,770
SHAREHOLDERS' FUNDS 238,916 164,772

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Owen Communications Limited (Registered number: 01945200)

Balance Sheet - continued
31 December 2023


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 March 2024 and were signed on its behalf by:




A Biggs - Director S M Sponder - Director




D P Mattingley - Director


Owen Communications Limited (Registered number: 01945200)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Owen Communications Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due. Where a contract has only been partially completed at the balance sheet date turnover represents the value of the service provided to date based on a proportion of the total expected consideration on completion.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of twenty years.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Computer equipment - 20% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Owen Communications Limited (Registered number: 01945200)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 41,000
AMORTISATION
At 1 January 2023 30,750
Charge for year 2,050
At 31 December 2023 32,800
NET BOOK VALUE
At 31 December 2023 8,200
At 31 December 2022 10,250

5. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 January 2023 37,353
Additions 36,241
At 31 December 2023 73,594
DEPRECIATION
At 1 January 2023 13,506
Charge for year 5,723
At 31 December 2023 19,229
NET BOOK VALUE
At 31 December 2023 54,365
At 31 December 2022 23,847

Owen Communications Limited (Registered number: 01945200)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 January 2023 100
Disposals (100 )
At 31 December 2023 -
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 100

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 65,537 88,462
Amounts recoverable on contract 19,692 -
Other debtors 194,925 155,932
280,154 244,394

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts - 46,130
Trade creditors 26,784 8,564
Taxation and social security 64,491 51,800
Other creditors 123,489 4,156
214,764 110,650

9. RELATED PARTY DISCLOSURES

There were loans outstanding at the year end from Owen B2B2C Limited of £194,924 (2022 £154,924) and Owen Group International Limited of £nil (2022 £712). These are shown separately under debtors.

There were loans outstanding at the year end to Owen CX Limited of £2,406 (2022 £2,406) and Owen Group International Limited of £119,188 (2022 £nil). These are shown separately under creditors.

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Owen Group International Limited.