1 January 2023 false Taxfiler 2024.5 06848158business:PrivateLimitedCompanyLtd2023-01-012023-12-31 068481582022-12-31 068481582023-01-012023-12-31 06848158business:AuditExemptWithAccountantsReport2023-01-012023-12-31 06848158business:FilletedAccounts2023-01-012023-12-31 068481582023-12-31 06848158business:Director12023-01-012023-12-31 06848158business:Director22023-01-012023-12-31 06848158business:Director42023-01-012023-12-31 06848158business:RegisteredOffice2023-01-012023-12-31 068481582022-12-31 06848158core:WithinOneYear2023-12-31 06848158core:WithinOneYear2022-12-31 06848158core:AfterOneYear2023-12-31 06848158core:AfterOneYear2022-12-31 06848158core:ShareCapitalcore:PreviouslyStatedAmount2023-12-31 06848158core:ShareCapitalcore:PreviouslyStatedAmount2022-12-31 06848158core:SharePremiumcore:PreviouslyStatedAmount2023-12-31 06848158core:SharePremiumcore:PreviouslyStatedAmount2022-12-31 06848158core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-12-31 06848158core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2022-12-31 06848158core:PreviouslyStatedAmount2023-12-31 06848158core:PreviouslyStatedAmount2022-12-31 06848158business:SmallEntities2023-01-012023-12-31 06848158countries:EnglandWales2023-01-012023-12-31 06848158core:IntangibleAssetsOtherThanGoodwill2022-12-31 06848158core:IntangibleAssetsOtherThanGoodwill2023-01-012023-12-31 06848158core:IntangibleAssetsOtherThanGoodwill2023-12-31 06848158core:AdditionsToInvestments2023-12-31 06848158core:WithinOneYear2023-01-012023-12-31 06848158business:OrdinaryShareClass12023-01-012023-12-31 06848158business:OrdinaryShareClass12022-01-012022-12-31 06848158core:BetweenOneFiveYears2023-12-31 06848158core:BetweenOneFiveYears2022-12-31 068481582022-01-012022-12-31 iso4217:GBP xbrli:shares xbrli:pure
Company Registration No. 06848158 (England and Wales)
ID Comms Limited Unaudited accounts for the year ended 31 December 2023
ID Comms Limited Unaudited accounts Contents
Page
- 2 -
ID Comms Limited Company Information for the year ended 31 December 2023
Directors
Mr D Indo Mr T J Denford Mr P James Leary
Company Number
06848158 (England and Wales)
Registered Office
60 Cannon Street London EC4N 6NP
Accountants
Wellden Turnbull Limited Albany House Claremont Lane Esher Surrey KT10 9FQ
- 3 -
ID Comms Limited Statement of financial position as at 31 December 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Intangible assets
261,085 
37,790 
Investments
147,057 
100 
408,142 
37,890 
Current assets
Debtors
691,993 
1,715,416 
Cash at bank and in hand
370,148 
167,057 
1,062,141 
1,882,473 
Creditors: amounts falling due within one year
(243,746)
(421,387)
Net current assets
818,395 
1,461,086 
Total assets less current liabilities
1,226,537 
1,498,976 
Creditors: amounts falling due after more than one year
(14,807)
(24,946)
Net assets
1,211,730 
1,474,030 
Capital and reserves
Called up share capital
250 
250 
Share premium
24,656 
24,656 
Profit and loss account
1,186,824 
1,449,124 
Shareholders' funds
1,211,730 
1,474,030 
For the year ending 31 December 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 in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 2 September 2024 and were signed on its behalf by
Mr D Indo Director Company Registration No. 06848158
- 4 -
ID Comms Limited Notes to the Accounts for the year ended 31 December 2023
1
Statutory information
ID Comms Limited is a private company, limited by shares, registered in England and Wales, registration number 06848158. The registered office is 60 Cannon Street, London, EC4N 6NP.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. The company is a parent company and is exempt from the requirement to prepare group accounts by virtue of section 399 of the Companies Act 2006. These financial statements therefore present information about the Company as an individual undertaking and not about its group.
Presentation currency
The accounts are presented in £ sterling and rounded to the nearest £.
Revenue
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: Sale of goods: Revenue from the sale of goods is recognised when all of the following conditions are satisfied: - the Company has transferred the significant risks and rewards of ownership to the buyer; - the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; - the amount of revenue can be measured reliably; - it is probable that the Company will receive the consideration due under the transaction; and - the costs incurred or to be incurred in respect of the transaction can be measured reliably. Rendering of services: Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied: - the amount of revenue can be measured reliably; - it is probable that the Company will receive the consideration due under the contract; - the stage of completion of the contract at the end of the reporting period can be measured reliably; and - the costs incurred and the costs to complete the contract can be measured reliably.
- 5 -
ID Comms Limited Notes to the Accounts for the year ended 31 December 2023
Taxation
Tax is recognised in the statement of comprehensive income, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.
Intangible fixed assets
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows: Asset class Amortization method and rate Intellectual Property 20% Straight line
Investments
Investments in subsidiaries are held at cost less impairment.
Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
Trade debtors
Short term debtors are measured at transaction price, less any impairment.
Borrowing costs
All borrowing costs are recognised in the statement of comprehensive income in the year in which they are incurred.
Leases
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the statement of comprehensive income so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting. Dividends on shares recognised as liabilities are recognised as expenses and classified within interest payable.
- 6 -
ID Comms Limited Notes to the Accounts for the year ended 31 December 2023
4
Intangible fixed assets
Other 
£ 
Cost
At 1 January 2023
170,661 
Additions
280,253 
At 31 December 2023
450,914 
Amortisation
At 1 January 2023
132,871 
Charge for the year
56,958 
At 31 December 2023
189,829 
Net book value
At 31 December 2023
261,085 
At 31 December 2022
37,790 
5
Investments
Subsidiary undertakings 
£ 
Valuation at 1 January 2023
100 
Additions
146,957 
Valuation at 31 December 2023
147,057 
The company's investments consist of the following 100% owned subsidiaries: - Media Performance Systems Ltd - ID Comms Inc
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
558,294 
279,086 
Amounts due from group undertakings etc.
75,675 
410,188 
Accrued income and prepayments
52,059 
1,025,912 
Other debtors
5,965 
230 
691,993 
1,715,416 
- 7 -
ID Comms Limited Notes to the Accounts for the year ended 31 December 2023
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
10,140 
19,892 
Trade creditors
42,867 
43,958 
Taxes and social security
39,379 
115,230 
Other creditors
59,653 
62,949 
Accruals
10,422 
26,074 
Deferred income
81,285 
153,284 
243,746 
421,387 
The company's outstanding bank loan is secured by a fixed and floating charge over the company's assets.
8
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
14,807 
24,946 
9
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
2,500 Ordinary shares of £0.10 each
250 
250 
10
Operating lease commitments
2023 
2022 
£ 
£ 
At 31 December 2023 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
10,373 
16,480 
Later than one year and not later than five years
6,054 
16,428 
16,427 
32,908 
11
Transactions with related parties
The Company has taken the exemption under FRS102 section 33.1A not to disclose transactions and balances with other group companies, on the basis that the subsidiary companies are wholly owned.
12
Average number of employees
During the year the average number of employees was 14 (2022: 14).
- 8 -