Chatter Telecommunications Ltd |
Registered Number:10990205 |
For the year ended 31 October 2023
England and Wales
Unaudited Financial Statements
Chatter Telecommunications Ltd
Statement of Financial Position
2022
2023
Property, plant and equipment |
674
174
2
674
174
46,473
46,037
3
Trade and other receivables |
74,265
32,587
4
78,624
120,738
Trade and other payables: amounts falling due within one |
year |
(109,037)
(80,002)
5
11,701
(1,378)
Net current liabilities
Total assets less current liabilities |
(704)
11,875
Trade and other payables: amounts falling due after more |
than one year |
(23,923)
(12,011)
6
(12,715)
Net liabilities
(12,048)
16,000
16,000
(28,715)
(28,048)
(12,715)
(12,048)
Shareholders' funds
For the year ended 31 October 2023 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies. |
The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 in accordance with Section 476 of the Companies Act 2006 |
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section 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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. |
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For the year ended 31 October 2023
Chatter Telecommunications Ltd
Statement of Financial Position Continued
These financial statements were approved and authorised for issue by the Board on 28 July 2024 and were signed by: |
The notes form part of these financial statements |
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For the year ended 31 October 2023
Chatter Telecommunications Ltd
Notes to the Financial Statements
Statutory Information
Chatter Telecommunications Ltd is a private limited company, limited by shares, domiciled in England and |
Wales, registration number 10990205. |
c/o Summit Bookkeeping Ltd
Bryn Awel, Brithdir
Dolgellau
Gwynedd
LL40 2RR
The presentation currency is £ sterling. |
The principal activity of the company is that of suppliers of telecommunication systems and equipment.
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial |
Reporting Standard 102 ''The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and |
the Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
Significant judgements and estimates
Going ConcernThe directors note the deficit on the Statement of Financial Position of £12,715 at 31 October 2023. The directors have provided personal guarantees to the company's bankers to secure an overdraft facility. Additionally, longer term bank finance has also been arranged and is secured under the UK government's business support scheme. At 31 October 2023, the company had net current liabilities of £1,378. After making enquiries the directors have a reasonable expectation that the company has sufficient working capital to continue in operational existence for the foreseeable future and to meet its liabilities as they fall due. Accordingly, the financial statements have been prepared on the going concern basis. |
Revenue recognition
Sales are measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax or other similar sales taxes. The company recognises revenue when the amount of revenue and related cost can be reliably measured and it is probable that the collectability of the related receivables is reasonably assured. Revenue from long-term service contracts is recognised when the services are rendered, using the percentage of completion method based on the actual service provided as a proportion of the total services to be performed. |
Property, plant and equipment
Property, plant and equipment, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis: |
Office Equipment
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For the year ended 31 October 2023
Chatter Telecommunications Ltd
Notes to the Financial Statements Continued
Inventories
Inventories include stock of goods and contract work in progress and are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Taxation
The tax expense for the year comprises current and deferred tax. Tax is recognised in the Income Statement, |
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. |
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or |
substantively enacted by the reporting date in the countries where the company operates and generates |
taxable income. |
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. |
Financial instruments
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 entity after deducting all of its financial liabilities. |
Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar |
debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are |
presented as such in the Statement of Financial Position. Finance costs and gains or losses relating to financial |
liabilities are included in the Income Statement. Finance costs are calculated so as to produce a constant rate |
of return on the outstanding liability. |
Where the contractual terms of share capital do not have any items meeting the definition of a financial |
liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments |
are debited direct to equity. |
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For the year ended 31 October 2023
Chatter Telecommunications Ltd
Notes to the Financial Statements Continued
Related parties
For the purposes of these financial statements, a party is considered to be related to the company if: |
(i) the party has the ability, directly or indirectly through one or more intermediaries, to control the |
company or exercise significant influence over the company in making financial and operating policy decisions |
or has joint control over the company; |
(ii) the company and the party are subject to common control; |
(iii) the party is an associate of the company or a joint venture in which the company is a venturer; |
(iv) the party is a member of key management personnel of the company or a close family member of such |
an individual or is an entity under the control, joint control or significant influence of such individuals; |
(v) the party is a close family member of a party referred to in (i) above or is an entity under the control, joint |
control or significant influence of such individuals; |
(vi) the party is a post-employment benefit plan which is for the benefit of employees of the company or of |
any entity that is a related party of the company; or |
(vii) the party or any member of a group of which it is part, provides key management personnel services to |
the company. |
Close family members of an individual are those family members who may be expected to influence or be |
influenced by that individual in their dealings with the entity. |
2. Property, plant and equipment |
1,781
1,008
(649)
2,140
Provision for depreciation and impairment |
1,607
Charge for year
507
(648)
1,466
674
174
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For the year ended 31 October 2023
Chatter Telecommunications Ltd
Notes to the Financial Statements Continued
2022
2023
46,037
46,473
4. Trade and other receivables |
2022
2023
32,587
74,265
5. Trade and other payables: amounts falling due within one year |
2022
2023
22,400
30,517
38,744
64,083
Taxation and social security |
4,530
6,896
Accruals and deferred income |
6,014
2,521
5,005
3,670
3,309
1,350
80,002
109,037
6. Trade and other payables: amounts falling due after more than one year |
2022
2023
12,011
19,573
-
4,350
12,011
23,923
7. Related party transactions |
Included in note 5 to the financial statements, trade and other payables: amounts falling due within one year, |
are the following amounts owed by the company at 31 October 2023: |
Amount owed to the directors £5,005 (2022: £3,670) |
Amounts owed to the directors are unsecured, interest free and bear no fixed date for repayment. |
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For the year ended 31 October 2023
Chatter Telecommunications Ltd
Notes to the Financial Statements Continued
8. Average number of persons employed |
During the year the average number of employees was 0 (2022: 0)
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