0 false false false false false false false false false false true false false false false false false No description of principal activity 2022-11-01 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 06429734 2022-11-01 2023-10-31 06429734 2023-10-31 06429734 2022-10-31 06429734 2021-11-01 2022-10-31 06429734 2022-10-31 06429734 2021-10-31 06429734 bus:Director1 2022-11-01 2023-10-31 06429734 core:WithinOneYear 2023-10-31 06429734 core:WithinOneYear 2022-10-31 06429734 core:AfterOneYear 2023-10-31 06429734 core:AfterOneYear 2022-10-31 06429734 core:ShareCapital 2023-10-31 06429734 core:ShareCapital 2022-10-31 06429734 core:RetainedEarningsAccumulatedLosses 2023-10-31 06429734 bus:SmallEntities 2022-11-01 2023-10-31 06429734 bus:AuditExemptWithAccountantsReport 2022-11-01 2023-10-31 06429734 bus:SmallCompaniesRegimeForAccounts 2022-11-01 2023-10-31 06429734 bus:PrivateLimitedCompanyLtd 2022-11-01 2023-10-31 06429734 bus:AbridgedAccounts 2022-11-01 2023-10-31 06429734 core:ComputerEquipment 2022-11-01 2023-10-31
COMPANY REGISTRATION NUMBER: 06429734
VOIP Solutions Limited
Filleted Unaudited Abridged Financial Statements
31 October 2023
VOIP Solutions Limited
Abridged Statement of Financial Position
31 October 2023
2023
2022
Note
£
£
£
Current assets
Debtors
17,870
20,400
Cash at bank and in hand
66
--------
--------
17,936
20,400
Creditors: amounts falling due within one year
7,191
7,000
--------
--------
Net current assets
10,745
13,400
--------
--------
Total assets less current liabilities
10,745
13,400
Creditors: amounts falling due after more than one year
11,032
13,399
--------
--------
Net (liabilities)/assets
( 287)
1
--------
--------
Capital and reserves
Called up share capital
1
1
Profit and loss account
( 288)
----
----
Shareholders (deficit)/funds
( 287)
1
----
----
These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the abridged statement of income and retained earnings has not been delivered.
For the year ending 31 October 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 members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476 ;
- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .
All of the members have consented to the preparation of the abridged statement of income and retained earnings and the abridged statement of financial position for the year ending 31 October 2023 in accordance with Section 444(2A) of the Companies Act 2006.
VOIP Solutions Limited
Abridged Statement of Financial Position (continued)
31 October 2023
These abridged financial statements were approved by the board of directors and authorised for issue on 26 July 2024 , and are signed on behalf of the board by:
Mrs D Arkwell
Director
Company registration number: 06429734
VOIP Solutions Limited
Notes to the Abridged Financial Statements
Year ended 31 October 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 1 George Street, Wolverhampton, WV2 4DG.
2. Statement of compliance
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
33% straight line
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 balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. 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 terms 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.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to Nil (2022: 3 ).
5. Financial instruments
Financial instruments such as trade debtors, cash and trade creditors arise from the company's operations.
6. Director's advances, credits and guarantees
7. Related party transactions
At 31 October 2023 the company had outstanding loans due to the director of £191 (2022: £nil) included within other creditors. At 31 October 2023 the company had outstanding loans due from the director of £nil (2022: £1) included within other debtors. All related party loans are interest-free and repayable on demand.