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REGISTERED NUMBER: 09183927 (England and Wales)



















Financial Statements

for the Year Ended 31 December 2023

for

Enhanced Telecommunications Limited

Enhanced Telecommunications Limited (Registered number: 09183927)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Enhanced Telecommunications Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: M Dissington
K M Hoyer
P M Pifer





SECRETARY: K M Hoyer





REGISTERED OFFICE: Swadlincote Innovation Centre
George Holmes Way
Swadlincote
Derbyshire
DE11 9DF





REGISTERED NUMBER: 09183927 (England and Wales)





AUDITORS: Bates Weston Audit Ltd
Statutory Auditors
Chartered Accountants
The Mills
Canal Street
Derby
DE1 2RJ

Enhanced Telecommunications Limited (Registered number: 09183927)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 13,250 17,486
Investments 6 1 1
13,251 17,487

CURRENT ASSETS
Debtors 7 31,350 34,315
Cash at bank 60,517 29,817
91,867 64,132
CREDITORS
Amounts falling due within one year 8 2,789,020 2,342,208
NET CURRENT LIABILITIES (2,697,153 ) (2,278,076 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(2,683,902

)

(2,260,589

)

CREDITORS
Amounts falling due after more than one
year

9

15,606

39,463
NET LIABILITIES (2,699,508 ) (2,300,052 )

CAPITAL AND RESERVES
Called up share capital 1 1
Other reserves 1,287,612 1,287,612
Retained earnings (3,987,121 ) (3,587,665 )
(2,699,508 ) (2,300,052 )

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 5 August 2024 and were signed on its behalf by:





M Dissington - Director


Enhanced Telecommunications Limited (Registered number: 09183927)

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

1. STATUTORY INFORMATION

Enhanced Telecommunications 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.

Going concern
In assessing the appropriateness of the going concern assumption, the Directors have reviewed detailed profit and loss forecasts and cash flow forecasts, considering all reasonably foreseeable potential scenarios and uncertainties in relation to revenue and expenditure for a period of at least 12 months from the date these financial statements have been signed. The ultimate parent company has confirmed its willingness to financially support the company to ensure it is able to meet its liabilities as they fall due. Based on these forecasts and offers of financial support, the Directors have a reasonable expectation that the company is a going concern and as such have prepared the financial statements on the going concern basis. The Directors note that the business has made a loss for the year and continues to trade at a loss post year end, and the ultimate parent company has made a loss for the year. The parent company is is in default on its loan agreements with former stockholders at the reporting date, primarily due to its inability to make principal and interest payments as they fall due. Under the terms of the loan agreements, the noteholders have the right to foreclose upon the collateral and/or liquidate the parent company's assets to satisfy the debt obligations. As of the reporting date, no such liquidation proceedings have begun; however, substantial doubt exists about the parent company's ability to continue as a going concern. As such, the Directors acknowledge that a material uncertainty does exist in respect of the entity's going concern status.

Preparation of consolidated financial statements
The financial statements contain information about Enhanced Telecommunications Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Enhanced Telecommunications Limited (Registered number: 09183927)

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

2. ACCOUNTING POLICIES - continued

Turnover
Turnover is recognised when revenue and associated costs can be measured reliably and future economic benefits are probable. Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, VAT and other sales taxes. The following criteria must also be met before revenue is recognised:

Maintenance Contracts
Income in respect of maintenance contracts is invoiced on annual basis and recognised as earned.

Software Licences
For perpetual licences, revenues are recognised once the software has been fully installed.

Consultancy Services
Revenues in respect of consultancy services are recognised on a percentage of completion basis calculated pro-rata on the number of man days completed to the estimated total project man days.

Intangible assets other than goodwill
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.

Development costs are being amortised evenly over their estimated useful life of eight years.

Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures, fittings & equipment20% reducing balance
Computer equipment20% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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.


Enhanced Telecommunications Limited (Registered number: 09183927)

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

2. ACCOUNTING POLICIES - continued
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.

Research and development
Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is captialised to the extent that the technical, commercial and financial feasibility can be demonstrated.

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.

Hire purchase and leasing commitments
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

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.

3. EMPLOYEES AND DIRECTORS

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

Enhanced Telecommunications Limited (Registered number: 09183927)

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

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 January 2023
and 31 December 2023 651,589 246,184 897,773
AMORTISATION
At 1 January 2023
and 31 December 2023 651,589 246,184 897,773
NET BOOK VALUE
At 31 December 2023 - - -
At 31 December 2022 - - -

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 January 2023 3,232 31,877 35,109
Additions 1,413 - 1,413
At 31 December 2023 4,645 31,877 36,522
DEPRECIATION
At 1 January 2023 1,530 16,093 17,623
Charge for year 340 5,309 5,649
At 31 December 2023 1,870 21,402 23,272
NET BOOK VALUE
At 31 December 2023 2,775 10,475 13,250
At 31 December 2022 1,702 15,784 17,486

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2023
and 31 December 2023 1
NET BOOK VALUE
At 31 December 2023 1
At 31 December 2022 1

Enhanced Telecommunications Limited (Registered number: 09183927)

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

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 18,014 9,561
Other debtors 6,242 13,257
Prepayments 7,094 11,497
31,350 34,315

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts (see note 10) - 6,314
Trade creditors 7,069 2,323
Social security and other taxes 5,986 9,375
Other creditors 645 902
Owed to related parties 2,700,500 2,176,925
Accruals and deferred income 74,820 146,369
2,789,020 2,342,208

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Accruals and deferred income 15,606 39,463

10. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2023 2022
£    £   
Net obligations repayable:
Within one year - 6,314

11. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Sean Douglass ACA (Senior Statutory Auditor)
for and on behalf of Bates Weston Audit Ltd

12. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Enhanced Telecommunications Inc and its registered office is 6065 Atlantic Boulevard, Norcross, GA 30071.