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REGISTERED NUMBER: 05817154 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024

FOR

TRUE TELECOMMUNICATIONS LIMITED

TRUE TELECOMMUNICATIONS LIMITED (REGISTERED NUMBER: 05817154)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31st March 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


TRUE TELECOMMUNICATIONS LIMITED

COMPANY INFORMATION
for the Year Ended 31st March 2024







DIRECTORS: Mr J Marchant
Mr S Bell





SECRETARY: Mr J Marchant





REGISTERED OFFICE: Pine Ridge, Cross Stone Road,
Todmorden
OL14 8RB





REGISTERED NUMBER: 05817154 (England and Wales)





ACCOUNTANTS: Xeinadin
100 Barbirolli Square
Manchester
M2 3BD

TRUE TELECOMMUNICATIONS LIMITED (REGISTERED NUMBER: 05817154)

BALANCE SHEET
31st March 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 2,237 232
Investments 5 12,841 12,752
Investment property 6 96,350 88,108
111,428 101,092

CURRENT ASSETS
Debtors 7 21,215 28,688
Cash at bank 59,077 34,134
80,292 62,822
CREDITORS
Amounts falling due within one year 8 (164,708 ) (77,924 )
NET CURRENT LIABILITIES (84,416 ) (15,102 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

27,012

85,990

CREDITORS
Amounts falling due after more than one
year

9

(25,000

)

(54,000

)
NET ASSETS 2,012 31,990

CAPITAL AND RESERVES
Called up share capital 10 1,000 1,000
Fair value reserve 11 (4,231 ) -
Retained earnings 5,243 30,990
SHAREHOLDERS' FUNDS 2,012 31,990

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

TRUE TELECOMMUNICATIONS LIMITED (REGISTERED NUMBER: 05817154)

BALANCE SHEET - continued
31st March 2024


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7th September 2024 and were signed on its behalf by:





Mr J Marchant - Director


TRUE TELECOMMUNICATIONS LIMITED (REGISTERED NUMBER: 05817154)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31st March 2024


1. STATUTORY INFORMATION

True Telecommunications Limited is a private company limited by share capital, registered in England and Wales, registration number 05817154. The address of the registered office & principle place of business is Pine Ridge, Cross Stone Road, Todmorden, OL14 8RB.

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 amounts recognised by the company in respect of goods and services supplied, exclusive of Value Added Tax and trade discounts. Turnover principally consists of airtime and landline rentals, which are recognised at the point of which the goods and services are provided.

Tangible fixed assets
Plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses.

Depreciation on plant and equipment is charged to the profit and loss so as to write off their value, over their estimated useful lives, using the following methods:

Fixtures and fittings 20% reducing balance

At each balance sheet date, the Company reviews the carrying amounts of its property, plant and equipment to determine whether there is any indication that any items of property, plant and equipment have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. Impairment loss is recognised as an expense immediately.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, 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.

TRUE TELECOMMUNICATIONS LIMITED (REGISTERED NUMBER: 05817154)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st March 2024


2. ACCOUNTING POLICIES - continued

Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.

Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost.

Cash and cash equivalents
Cash and cash equivalents comprise cash at bank.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1st April 2023 9,417
Additions 2,142
At 31st March 2024 11,559
DEPRECIATION
At 1st April 2023 9,185
Charge for year 137
At 31st March 2024 9,322
NET BOOK VALUE
At 31st March 2024 2,237
At 31st March 2023 232

5. FIXED ASSET INVESTMENTS
Other
investment
£   
COST OR VALUATION
At 1st April 2023 12,752
Additions 18,964
Disposals (12,752 )
Revaluations (6,123 )
At 31st March 2024 12,841
NET BOOK VALUE
At 31st March 2024 12,841
At 31st March 2023 12,752

TRUE TELECOMMUNICATIONS LIMITED (REGISTERED NUMBER: 05817154)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st March 2024


5. FIXED ASSET INVESTMENTS - continued

Cost or valuation at 31st March 2024 is represented by:

Other
investment
£   
Valuation in 2024 (6,123 )
Cost 18,964
12,841

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st April 2023 88,108
Additions 6,350
Revaluations 1,892
At 31st March 2024 96,350
NET BOOK VALUE
At 31st March 2024 96,350
At 31st March 2023 88,108

Fair value at 31st March 2024 is represented by:
£   
Valuation in 2024 1,892
Cost 94,458
96,350

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 19,193 26,087
Other debtors 2,022 2,601
21,215 28,688

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 78,104 43,517
Taxation and social security 41,129 32,322
Other creditors 45,475 2,085
164,708 77,924

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Other creditors 25,000 54,000

TRUE TELECOMMUNICATIONS LIMITED (REGISTERED NUMBER: 05817154)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st March 2024


10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
600 Ordinary A £1 600 600
200 Ordinary B £1 200 200
200 Ordinary C £1 200 200
1,000 1,000

11. RESERVES
Fair
value
reserve
£   
Non-distributable reserves (4,231 )

At 31st March 2024 (4,231 )