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REGISTERED NUMBER: 04534240 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

COMTEC TRANSLATIONS LIMITED

COMTEC TRANSLATIONS LIMITED (REGISTERED NUMBER: 04534240)

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 March 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


COMTEC TRANSLATIONS LIMITED

COMPANY INFORMATION
for the year ended 31 March 2024







DIRECTORS: Mrs S I Howe
Mr D Howe





SECRETARY: Mrs S I Howe





REGISTERED OFFICE: 3 Pegasus House
Pegasus Court
Olympus Avenue
Warwick
Warwickshire
CV34 6LW





REGISTERED NUMBER: 04534240 (England and Wales)





ACCOUNTANTS: Pentlands Accountants and advisors Ltd
Chartered Certified Accountants
and Registered Auditors
3 & 4 Pegasus House
Pegasus Court
Olympus Avenue
Warwick
Warwickshire
CV34 6LW

COMTEC TRANSLATIONS LIMITED (REGISTERED NUMBER: 04534240)

BALANCE SHEET
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 124,383 138,984
124,383 138,984

CURRENT ASSETS
Debtors 6 1,344,850 1,302,457
Cash at bank and in hand 747,000 2,091,485
2,091,850 3,393,942
CREDITORS
Amounts falling due within one year 7 837,702 1,360,477
NET CURRENT ASSETS 1,254,148 2,033,465
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,378,531

2,172,449

CREDITORS
Amounts falling due after more than one
year

8

(57,167

)

(106,167

)

PROVISIONS FOR LIABILITIES (30,687 ) (23,367 )
NET ASSETS 1,290,677 2,042,915

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,290,577 2,042,815
SHAREHOLDERS' FUNDS 1,290,677 2,042,915

COMTEC TRANSLATIONS LIMITED (REGISTERED NUMBER: 04534240)

BALANCE SHEET - continued
31 March 2024


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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 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.

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 Income Statement has not been delivered.

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





Mrs S I Howe - Director


COMTEC TRANSLATIONS LIMITED (REGISTERED NUMBER: 04534240)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2024


1. STATUTORY INFORMATION

Comtec Translations Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Except in respect of service contracts where turnover is recognised when the company obtains the right to consideration.

Goodwill
Goodwill, being the amount in connection with the acquisitions of a business in 2007 and 2015, has been fully amortised over its estimated useful life of ten years and two years respectively.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - in accordance with the property
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 25% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.


COMTEC TRANSLATIONS LIMITED (REGISTERED NUMBER: 04534240)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Work in progress
Work in progress is valued at selling price and is shown within turnover with the corresponding amount receivable shown within Debtors under 'Amounts recoverable on long term contracts'.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 25 (2023 - 29 ) .

4. INTANGIBLE FIXED ASSETS
Computer
Goodwill software Totals
£    £    £   
COST
At 1 April 2023
and 31 March 2024 224,184 24,204 248,388
AMORTISATION
At 1 April 2023
and 31 March 2024 224,184 24,204 248,388
NET BOOK VALUE
At 31 March 2024 - - -
At 31 March 2023 - - -

COMTEC TRANSLATIONS LIMITED (REGISTERED NUMBER: 04534240)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024


5. TANGIBLE FIXED ASSETS
Fixtures
Short and Motor Computer
leasehold fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 77,038 79,971 30,071 106,653 293,733
Additions - 1,068 - 30,699 31,767
Disposals - (3,626 ) - - (3,626 )
At 31 March 2024 77,038 77,413 30,071 137,352 321,874
DEPRECIATION
At 1 April 2023 18,818 42,570 12,028 81,333 154,749
Charge for year 15,408 8,934 6,015 13,292 43,649
Eliminated on disposal - (907 ) - - (907 )
At 31 March 2024 34,226 50,597 18,043 94,625 197,491
NET BOOK VALUE
At 31 March 2024 42,812 26,816 12,028 42,727 124,383
At 31 March 2023 58,220 37,401 18,043 25,320 138,984

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 827,530 682,270
Amounts recoverable on contract 422,879 535,008
Other debtors 94,441 85,179
1,344,850 1,302,457

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 49,000 49,000
Trade creditors 309,997 337,204
Amounts owed to group undertakings 10,493 500,000
Taxation and social security 140,218 184,215
Other creditors 327,994 290,058
837,702 1,360,477

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 57,167 106,167

COMTEC TRANSLATIONS LIMITED (REGISTERED NUMBER: 04534240)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024


9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year - 72,400
Between one and five years 223,987 223,988
223,987 296,388

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
Mrs S I Howe
Balance outstanding at start of year (105 ) 25,289
Amounts advanced 11,108 -
Amounts repaid (1,349 ) (25,394 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 9,654 (105 )

Mr D Howe
Balance outstanding at start of year (464 ) 9,981
Amounts advanced 10,500 -
Amounts repaid (849 ) (10,445 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 9,187 (464 )

11. ULTIMATE PARENT COMPANY

The ultimate parent company is Noodle Bear Limited (14407624).