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REGISTERED NUMBER: 03015234 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023

FOR

NATIONWIDE TELECOM SERVICES LTD

NATIONWIDE TELECOM SERVICES LTD (REGISTERED NUMBER: 03015234)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


NATIONWIDE TELECOM SERVICES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2023







DIRECTOR: A Beck





SECRETARY: C D Deutsch





REGISTERED OFFICE: 115 Craven Park Road
South Tottenham
London
N15 6BL





REGISTERED NUMBER: 03015234 (England and Wales)





ACCOUNTANTS: Venitt and Greaves
Chartered Accountants
115 Craven Park Road
South Tottenham
London
N15 6BL

NATIONWIDE TELECOM SERVICES LTD (REGISTERED NUMBER: 03015234)

STATEMENT OF FINANCIAL POSITION
30 NOVEMBER 2023

30.11.23 30.11.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 4,661 5,574
Investment property 5 4,003,788 3,820,716
4,008,449 3,826,290

CURRENT ASSETS
Debtors 6 1,120,126 1,813,144
Cash at bank 231,452 207,191
1,351,578 2,020,335
CREDITORS
Amounts falling due within one year 7 (666,131 ) (1,187,089 )
NET CURRENT ASSETS 685,447 833,246
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,693,896

4,659,536

CREDITORS
Amounts falling due after more than one
year

8

(2,469,879

)

(2,506,219

)
NET ASSETS 2,224,017 2,153,317

CAPITAL AND RESERVES
Called up share capital 11 100 100
Share premium 12 29,901 29,901
Revaluation reserve 12 728,095 728,095
Retained earnings 12 1,465,921 1,395,221
SHAREHOLDERS' FUNDS 2,224,017 2,153,317

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

NATIONWIDE TELECOM SERVICES LTD (REGISTERED NUMBER: 03015234)

STATEMENT OF FINANCIAL POSITION - continued
30 NOVEMBER 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 director and authorised for issue on 16 August 2024 and were signed by:





A Beck - Director


NATIONWIDE TELECOM SERVICES LTD (REGISTERED NUMBER: 03015234)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1. STATUTORY INFORMATION

Nationwide Telecom Services Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

Turnover
Turnover represents net rent receivable, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance
Computer equipment - 33% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

NATIONWIDE TELECOM SERVICES LTD (REGISTERED NUMBER: 03015234)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 December 2022
and 30 November 2023 93,305 1,599 94,904
DEPRECIATION
At 1 December 2022 88,161 1,169 89,330
Charge for year 771 142 913
At 30 November 2023 88,932 1,311 90,243
NET BOOK VALUE
At 30 November 2023 4,373 288 4,661
At 30 November 2022 5,144 430 5,574

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 December 2022 3,820,716
Additions 183,072
At 30 November 2023 4,003,788
NET BOOK VALUE
At 30 November 2023 4,003,788
At 30 November 2022 3,820,716

Fair value at 30 November 2023 is represented by:
£   
Valuation in 2006 566,806
Valuation in 2016 415,909
Valuation in 2019 (254,620 )
Cost 3,275,693
4,003,788

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Other debtors 1,120,126 1,813,144

NATIONWIDE TELECOM SERVICES LTD (REGISTERED NUMBER: 03015234)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Tax 21,367 13,689
Other creditors 636,905 1,163,301
Directors' current accounts 5,999 5,999
Accruals and deferred income - 2,300
Accrued expenses 1,860 1,800
666,131 1,187,089

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.11.23 30.11.22
£    £   
Bank loans (see note 9) 2,444,242 2,506,219
Other loans (see note 9) 25,637 -
2,469,879 2,506,219

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 1,093,464 487,550

Repayable by instalments
Bank loans more 5 yr by instal 1,350,778 1,983,207

9. LOANS

An analysis of the maturity of loans is given below:

30.11.23 30.11.22
£    £   
Amounts falling due between two and five years:
Bank loans - 2-5 years - 35,462
Other loans - 2-5 years 25,637 -
25,637 35,462

Amounts falling due in more than five years:
Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 1,093,464 487,550

Repayable by instalments
Bank loans more 5 yr by instal 1,350,778 1,983,207

NATIONWIDE TELECOM SERVICES LTD (REGISTERED NUMBER: 03015234)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023

10. SECURED DEBTS

The following secured debts are included within creditors:

30.11.23 30.11.22
£    £   
Bank loans 2,444,242 2,506,219
Other loans 25,637 -
2,469,879 2,506,219

1. Bank loans are secured by first charge over company's investment properties and bear interest at variable rates.

2. Under the bank loan, £25,637 was received under Bounce back Loan Scheme (BBL). The loan is unsecured, interest free for the first year, then capped at 2.5% afterwards and backed by HM Government.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.11.23 30.11.22
value: £    £   
100 Ordinary £1 100 100

12. RESERVES
Retained Share Revaluation
earnings premium reserve Totals
£    £    £    £   

At 1 December 2022 1,395,221 29,901 728,095 2,153,217
Profit for the year 70,700 70,700
At 30 November 2023 1,465,921 29,901 728,095 2,223,917

13. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is A Beck.