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Registration number: 08128143

Comms Unite Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 December 2023

 

Comms Unite Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Comms Unite Ltd

Company Information

Directors

Mr Nicholas Brian Shaw

Mr Leo Alexander Elward

Mr Richard George Campbell Shaw

Registered office

BT Innovation Centre
Columba House
Martlesham
Suffolk
IP5 3RE

Accountants

Anthony Russel Limited
Chartered Accountants
1st Floor
11 Freeport Office Village
Century Drive
Braintree
Essex
CM77 8YG

 

Comms Unite Ltd

(Registration number: 08128143)
Balance Sheet as at 30 December 2023

Note

2023
 £

2022
 £

fixed assets

 

tangible assets

4

101,869

123,545

Current assets

 

stocks

5

48,105

33,961

Debtors

6

186,120

194,279

Cash at bank and in hand

 

103,265

77,512

 

337,490

305,752

Creditors: Amounts falling due within one year

7

(381,538)

(411,090)

Net current liabilities

 

(44,048)

(105,338)

Total assets less current liabilities

 

57,821

18,207

Creditors: Amounts falling due after more than one year

7

(124,277)

(174,759)

Provisions for liabilities

(18,491)

(22,322)

Net liabilities

 

(84,947)

(178,874)

capital and reserves

 

Called up share capital

100

100

Profit and loss account

(85,047)

(178,974)

Total equity

 

(84,947)

(178,874)

For the financial year ending 30 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.

 

Comms Unite Ltd

(Registration number: 08128143)
Balance Sheet as at 30 December 2023

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 1 August 2024 and signed on its behalf by:
 

.........................................
Mr Nicholas Brian Shaw
Director

 

Comms Unite Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 December 2023

1

General information

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

The address of its registered office is:
BT Innovation Centre
Columba House
Martlesham
Suffolk
IP5 3RE
England

These financial statements were authorised for issue by the Board on 1 August 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

The financial statements have been prepared under the historical cost convention and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities 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 and after eliminating sales within the company.

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.

 

Comms Unite Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 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

Improvements to Property

25% reducing balance

Computer Equipment

25% reducing balance

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.

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.

 

Comms Unite Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 December 2023

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 13 (2022 - 13).

 

Comms Unite Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 December 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Improvements to Property
£

Total
£

Cost or valuation

At 31 December 2022

251,428

9,511

260,939

Additions

10,973

-

10,973

At 30 December 2023

262,401

9,511

271,912

Depreciation

At 31 December 2022

133,946

3,448

137,394

Charge for the year

31,133

1,516

32,649

At 30 December 2023

165,079

4,964

170,043

Carrying amount

At 30 December 2023

97,322

4,547

101,869

At 30 December 2022

117,482

6,063

123,545

5

Stocks

2023
£

2022
£

Other inventories

48,105

33,961

 

Comms Unite Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 December 2023

6

Debtors

2023
 £

2022
 £

Trade debtors

124,209

128,740

Other debtors

15,896

15,896

Accrued income

-

2,744

Director current account

46,015

46,899

Total current trade and other debtors

186,120

194,279

7

Creditors

Creditors: amounts falling due within one year

Note

2023
 £

2022
 £

Due within one year

 

Bank loans and overdrafts

50,637

47,191

Trade creditors

 

38,183

89,285

Other creditors

 

10,570

5,389

Accrued expenses

 

5,850

5,850

Corporation tax

 

12,022

19,866

PAYE and NIC

 

214,323

113,651

VAT

 

49,953

129,858

 

381,538

411,090

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

124,277

174,759

 

Comms Unite Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 December 2023

8

Related party transactions

Transactions with directors

The following advances and credits to a director subsisted during the years ended 30 December 2023 and 30 December 2022:

Interest is charged on the overdrawn loans at 2% per annum.

Transactions with directors

2023

At 31 December 2022
£

Advances to director
£

Repayments by director
£

At 30 December 2023
£

46,897

984

(1,866)

46,015

         
       

 

2022

At 31 December 2021
£

Advances to director
£

Repayments by director
£

At 30 December 2022
£

66,256

23,967

(43,326)

46,897

         
       

 

Directors' remuneration

The directors' remuneration for the year was as follows:

2023
£

2022
£

Remuneration

135,000

118,750