Company Registration No. 04076514 (England and Wales)
SOUTHESK COMMUNICATIONS LIMITED
ANNUAL REPORT AND
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED
30 NOVEMBER 2023
PAGES FOR FILING WITH REGISTRAR
SOUTHESK COMMUNICATIONS LIMITED
COMPANY INFORMATION
Directors
G W Carmichael
A D Carmichael
J A Parkin
Secretary
J A Parkin
Company number
04076514
Registered office
West Walk Building
110 Regent Road
Leicester
LE1 7LT
Accountants
Newby Castleman LLP
West Walk Building
110 Regent Road
Leicester
LE1 7LT
SOUTHESK COMMUNICATIONS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
SOUTHESK COMMUNICATIONS LIMITED
BALANCE SHEET
AS AT
30 NOVEMBER 2023
30 November 2023
- 1 -
30 November 2023
31 May 2022
Notes
£
£
£
£
Fixed assets
Investments
5
60,000
60,000
Current assets
Debtors
19
21,468
Cash at bank and in hand
17,255
22,213
17,274
43,681
Creditors: amounts falling due within one year
(8,446)
(38,741)
Net current assets
8,828
4,940
Net assets
68,828
64,940
Capital and reserves
Called up share capital
6
1,024,802
1,024,802
Profit and loss reserves
(955,974)
(959,862)
Total equity
68,828
64,940

In accordance with section 444 of the Companies Act 2006, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial period ended 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 20 September 2024 and are signed on its behalf by:
J A Parkin
Director
Company registration number 04076514 (England and Wales)
SOUTHESK COMMUNICATIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 NOVEMBER 2023
- 2 -
1
Accounting policies
Company information

Southesk Communications Limited is a private company limited by shares incorporated in England and Wales. The registered office is West Walk Building, 110 Regent Road, Leicester, LE1 7LT.

1.1
Basis of preparation

These financial statements have been prepared in accordance with applicable accounting standards including FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

 

As explained in Note 1.2, the company ceased trading in 2023. As required by UK accounting standards, the directors have prepared the financial statements on the basis that the company is no longer a going concern. No material adjustments arose as a result of ceasing to apply the going concern basis other than the impairment of investment included in Note 3.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

1.2
Going concern

Ttruehe company ceased trading during 2023 and will be liquidated in 2024. The financial statements have been prepared on a basis other than that of a going concern which includes, where appropriate, writing down the company’s assets to their net realisable value. The financial statements do not include any provision for the future costs of terminating the business of the company except to the extent that such costs were committed at the balance sheet date.

1.3
Reporting period

The financial statements have been prepared for an 18 month period and so the comparative amounts presented in the financial statements are not entirely comparable.

1.4
Turnover

Turnover is recognised at the fair value of the consideration received from the subsidiary undertaking in regards to management fees, and is shown net of VAT.

1.5
Tangible fixed assets

Tangible fixed assets are measured at cost, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:

Motor vehicles
25% per annum of cost
1.6
Fixed asset investments

Interests in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

SOUTHESK COMMUNICATIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 NOVEMBER 2023
1
Accounting policies
(Continued)
- 3 -
1.7
Financial instruments

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Debtors and creditors with no stated interest rate and receivable or payable within one year are measured at transaction price. Any losses arising from impairment are recognised in the profit and loss account

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity.

1.9
Employee benefits

When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

1.10
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.11
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to the profit and loss account on a straight line basis over the term of the relevant lease.

1.12

Group accounts

The financial statements present information about the company as an individual undertaking and not about its group. The company and its subsidiary undertaking comprise a small-sized group. The company has therefore taken advantage of the exemptions provided by section 399 of the Companies Act 2006 not to prepare group accounts.

SOUTHESK COMMUNICATIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 NOVEMBER 2023
- 4 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

2023
2022
Number
Number
Total
3
3
3
Impairments

Impairment tests have been carried out where appropriate and the following impairment losses have been recognised in profit or loss:

2023
2022
Notes
£
£
In respect of:
Fixed asset investments
5
-
1,085,356
Recognised in:
Amounts written off investments
-
1,085,356
4
Tangible fixed assets
Total
£
Cost
At 1 June 2022
29,800
Disposals
(29,800)
At 30 November 2023
-
0
Depreciation and impairment
At 1 June 2022
29,800
Eliminated in respect of disposals
(29,800)
At 30 November 2023
-
0
Carrying amount
At 30 November 2023
-
0
At 31 May 2022
-
0
SOUTHESK COMMUNICATIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 NOVEMBER 2023
- 5 -
5
Fixed asset investments
2023
2022
£
£
Investments
60,000
60,000
Movements in fixed asset investments
Shares in subsidiaries
£
Cost or valuation
At 1 June 2022 & 30 November 2023
60,000
Carrying amount
At 30 November 2023
60,000
At 31 May 2022
60,000
6
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary Shares of £1 each
1,024,802
1,024,802
1,024,802
1,024,802
7
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2023
2022
£
£
-
0
27,608
8
Related party transactions

During the year the company received management charges of £385,830 (2022: £515,388).

 

At 30 November 2023 the company owed £Nil (2022: £583) to its subsidiary undertaking.

 

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