2 false false false false false false false false false false true false false false false false false No description of principal activity 2023-01-01 Sage Accounts Production Advanced 2023 - FRS102_2023 120,000 96,000 12,000 108,000 12,000 24,000 59,357 371 59,728 59,329 121 59,450 278 28 51 51 51 xbrli:pure xbrli:shares iso4217:GBP 8644619 2023-01-01 2023-12-31 8644619 2023-12-31 8644619 2022-12-31 8644619 2022-01-01 2022-12-31 8644619 2022-12-31 8644619 2021-12-31 8644619 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 8644619 bus:Director1 2023-01-01 2023-12-31 8644619 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-12-31 8644619 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-12-31 8644619 core:WithinOneYear 2023-12-31 8644619 core:WithinOneYear 2022-12-31 8644619 core:AfterOneYear 2023-12-31 8644619 core:AfterOneYear 2022-12-31 8644619 core:ShareCapital 2023-12-31 8644619 core:ShareCapital 2022-12-31 8644619 core:SharePremium 2023-12-31 8644619 core:SharePremium 2022-12-31 8644619 core:RetainedEarningsAccumulatedLosses 2023-12-31 8644619 core:RetainedEarningsAccumulatedLosses 2022-12-31 8644619 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-01-01 2023-12-31 8644619 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-12-31 8644619 core:CostValuation core:Non-currentFinancialInstruments 2023-12-31 8644619 core:Non-currentFinancialInstruments 2023-12-31 8644619 core:Non-currentFinancialInstruments 2022-12-31 8644619 bus:SmallEntities 2023-01-01 2023-12-31 8644619 bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 8644619 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 8644619 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 8644619 bus:FullAccounts 2023-01-01 2023-12-31 8644619 bus:OrdinaryShareClass1 2023-12-31 8644619 bus:OrdinaryShareClass1 2022-12-31 8644619 core:OfficeEquipment 2022-12-31 8644619 core:OfficeEquipment 2023-01-01 2023-12-31 8644619 core:OfficeEquipment 2023-12-31
COMPANY REGISTRATION NUMBER: 8644619
TACTICAL WIRELESS LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 December 2023
TACTICAL WIRELESS LIMITED
BALANCE SHEET
31 December 2023
2023
2022
Note
£
£
£
£
FIXED ASSETS
Intangible assets
5
12,000
24,000
Tangible assets
6
278
28
Investments
7
51
51
-------
-------
12,329
24,079
CURRENT ASSETS
Debtors
8
48,342
27,065
Cash at bank and in hand
15,639
18,211
-------
-------
63,981
45,276
CREDITORS: amounts falling due within one year
9
( 50,010)
( 25,987)
-------
-------
NET CURRENT ASSETS
13,971
19,289
-------
-------
TOTAL ASSETS LESS CURRENT LIABILITIES
26,300
43,368
CREDITORS: amounts falling due after more than one year
10
( 7,829)
( 12,892)
-------
-------
NET ASSETS
18,471
30,476
-------
-------
CAPITAL AND RESERVES
Called up share capital
11
100,000
100,000
Share premium account
20,000
20,000
Profit and loss account
( 101,529)
( 89,524)
--------
--------
SHAREHOLDERS FUNDS
18,471
30,476
--------
--------
These 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 profit and loss account has not been delivered.
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.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
TACTICAL WIRELESS LIMITED
BALANCE SHEET (continued)
31 December 2023
These financial statements were approved by the board of directors and authorised for issue on 11 September 2024 , and are signed on behalf of the board by:
P Morton
Director
Company registration number: 8644619
TACTICAL WIRELESS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 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 2 Crossways Business Centre, Bicester Road, Kingswood, Aylesbury, Bucks, HP18 0RA.
2. Statement of compliance
These 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 financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The financial statements have been prepared on the basis that the company will continue in business for the foreseeable future. The directors believe that this is appropriate with the continued support of the shareholders.
Revenue recognition
Turnover represents the amounts derived from the provision of goods and services supplied by the company, and is stated net of Value Added Tax and discounts given.
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.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Intellectual property
-
10 years straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
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
-
25% straight line
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Investments in joint ventures
Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.
Financial instruments
Basic financial assets, including trade and other receivables and cash and bank balances, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method. Financial assets comprise of debtors and cash. At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss. Basic financial liabilities, including trade and other payables, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Financial liabilities comprise of creditors. Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year of less. If not, then they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2022: 1 ).
5. Intangible assets
Development costs
£
Cost
At 1 January 2023 and 31 December 2023
120,000
--------
Amortisation
At 1 January 2023
96,000
Charge for the year
12,000
--------
At 31 December 2023
108,000
--------
Carrying amount
At 31 December 2023
12,000
--------
At 31 December 2022
24,000
--------
6. Tangible assets
Equipment
Total
£
£
Cost
At 1 January 2023
59,357
59,357
Additions
371
371
-------
-------
At 31 December 2023
59,728
59,728
-------
-------
Depreciation
At 1 January 2023
59,329
59,329
Charge for the year
121
121
-------
-------
At 31 December 2023
59,450
59,450
-------
-------
Carrying amount
At 31 December 2023
278
278
-------
-------
At 31 December 2022
28
28
-------
-------
7. Investments
Shares in group undertakings
£
Cost
At 1 January 2023 and 31 December 2023
51
----
Impairment
At 1 January 2023 and 31 December 2023
----
Carrying amount
At 31 December 2023
51
----
At 31 December 2022
51
----
8. Debtors
2023
2022
£
£
Trade debtors
19,900
Other debtors
28,442
27,065
-------
-------
48,342
27,065
-------
-------
9. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
5,059
4,934
Social security and other taxes
921
Other creditors
44,030
21,053
-------
-------
50,010
25,987
-------
-------
10. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
7,829
12,892
------
-------
11. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary shares of £ 1 each
100,000
100,000
100,000
100,000
--------
--------
--------
--------