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1st Communications Limited

Financial Statements for the Year Ended 31 March 2024






1st Communications Limited

Company Information
for the Year Ended 31 March 2024







DIRECTOR: J S Roblin





SECRETARY: L F Roblin





REGISTERED OFFICE: Hillside
Sully Road
Penarth
Vale of Glamorgan
CF64 2TQ





REGISTERED NUMBER: 06460086 (England and Wales)





ACCOUNTANTS: BPU Limited
Chartered Accountants
Radnor House
Greenwood Close
Cardiff Gate Business Park
Cardiff
CF23 8AA

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
1st Communications Limited


The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of 1st Communications Limited for the year ended 31 March 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of 1st Communications Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of 1st Communications Limited and state those matters that we have agreed to state to the director of 1st Communications Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than 1st Communications Limited and its director for our work or for this report.

It is your duty to ensure that 1st Communications Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of 1st Communications Limited. You consider that 1st Communications Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of 1st Communications Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






BPU Limited
Chartered Accountants


22 August 2024

1st Communications Limited (Registered number: 06460086)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 171,055 181,691

CURRENT ASSETS
Stocks 57,500 4,800
Debtors 4 111,596 144,425
Cash at bank and in hand 283,086 224,587
452,182 373,812
CREDITORS
Amounts falling due within one year 5 75,866 50,128
NET CURRENT ASSETS 376,316 323,684
TOTAL ASSETS LESS CURRENT
LIABILITIES

547,371

505,375

CREDITORS
Amounts falling due after more than one
year

6

(52,128

)

(63,075

)

PROVISIONS FOR LIABILITIES (35,500 ) (35,000 )
NET ASSETS 459,743 407,300

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 459,643 407,200
459,743 407,300

1st Communications Limited (Registered number: 06460086)

Balance Sheet - continued
31 March 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

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 19 August 2024 and were signed by:





J S Roblin - Director


1st Communications Limited (Registered number: 06460086)

Notes to the Financial Statements
for the Year Ended 31 March 2024


1. 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% reducing balance
Fixtures and fittings - 25% reducing balance
Motor vehicles - 25% reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.


1st Communications Limited (Registered number: 06460086)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


1. 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.

Hire purchase and leasing commitments
Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives.

The interest element of the rental obligations is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding.

Rentals paid under operating leases are charged to income on a straight line basis over the lease term.

Pension costs
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.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 4 ) .

1st Communications Limited (Registered number: 06460086)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


3. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 April 2023 98,026 7,336 373,653 479,015
Additions - - 63,500 63,500
Disposals - - (33,875 ) (33,875 )
At 31 March 2024 98,026 7,336 403,278 508,640
DEPRECIATION
At 1 April 2023 75,891 6,369 215,064 297,324
Charge for year 5,532 370 53,978 59,880
Eliminated on disposal - - (19,619 ) (19,619 )
At 31 March 2024 81,423 6,739 249,423 337,585
NET BOOK VALUE
At 31 March 2024 16,603 597 153,855 171,055
At 31 March 2023 22,135 967 158,589 181,691

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 100,003 137,059
Other debtors & prepayments 11,593 7,366
111,596 144,425

1st Communications Limited (Registered number: 06460086)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 10,947 10,583
Trade creditors 28,258 17,372
Taxes & social security costs 28,404 12,746
Other creditors & accruals 8,257 9,427
75,866 50,128

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts 52,128 63,075