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Registration number: 06696370

RCQ Communications Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

RCQ Communications Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

RCQ Communications Limited

Company Information

Directors

Mr David Leslie Cole

Mrs Maree Wendy Cole

Company secretary

Mrs Maree Wendy Cole

Registered office

Silver Rose Unit 21 East Lodge Village
East Lodge Lane
Enfield
EN2 8AS

Accountants

Paul Winston Limited
Chartered Accountants
Silver Rose Unit 21
East Lodge Village
East Lodge Lane
Enfield
EN2 8AS

 

RCQ Communications Limited

(Registration number: 06696370)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

fixed assets

 

tangible assets

4

3,455

4,320

Current assets

 

stocks

5

2,915

2,002

Debtors

6

8,500

8,500

Cash at bank and in hand

 

5,533

5,530

 

16,948

16,032

Creditors: Amounts falling due within one year

7

(8,361)

(14,305)

Net current assets

 

8,587

1,727

Net assets

 

12,042

6,047

capital and reserves

 

Called up share capital

8

100

100

Profit and loss account

11,942

5,947

Shareholders' funds

 

12,042

6,047

For the financial 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 12 September 2024 and signed on its behalf by:
 

.........................................
Mr David Leslie Cole
Director

 

RCQ Communications Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Silver Rose Unit 21 East Lodge Village
East Lodge Lane
Enfield
EN2 8AS
England

These financial statements were authorised for issue by the Board on 12 September 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

RCQ Communications Limited

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

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

20% on a reducing balance basis

Fixtures and fittings

20% on a reducing balance basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors 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 the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

RCQ Communications Limited

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

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

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2022 - 1).

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 January 2023

19,407

19,407

At 31 December 2023

19,407

19,407

Depreciation

At 1 January 2023

15,087

15,087

Charge for the year

865

865

At 31 December 2023

15,952

15,952

Carrying amount

At 31 December 2023

3,455

3,455

At 31 December 2022

4,320

4,320

5

Stocks

2023
£

2022
£

Other inventories

2,915

2,002

6

Debtors

Current

2023
£

2022
£

Other debtors

8,500

8,500

 

8,500

8,500

 

RCQ Communications Limited

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

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Taxation and social security

 

1,384

1,384

Other creditors

 

2,190

793

Directors' loan accounts

 

4,787

12,128

 

8,361

14,305

8

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary D of £1 each

51

51

51

51

Ordinary M of £1 each

49

49

49

49

100

100

100

100

9

Dividends

Interim dividends paid

2023
£

2022
£

Interim dividend of £Nil (2022 - £39.2157) per each Ordinary D

-

2,000

 

 

10

Related party transactions

 

RCQ Communications Limited

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

Directors' remuneration

The directors' remuneration for the year was as follows:

2023
£

2022
£

Remuneration

2,166

1,652