Caseware UK (AP4) 2023.0.135 2023.0.135 2023-09-302023-09-30telex services12022-10-01false1falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 03043718 2022-10-01 2023-09-30 03043718 2021-10-01 2022-09-30 03043718 2023-09-30 03043718 2022-09-30 03043718 2021-10-01 03043718 c:Director1 2022-10-01 2023-09-30 03043718 d:PlantMachinery 2022-10-01 2023-09-30 03043718 d:PlantMachinery 2023-09-30 03043718 d:PlantMachinery 2022-09-30 03043718 d:MotorVehicles 2022-10-01 2023-09-30 03043718 d:MotorVehicles 2023-09-30 03043718 d:MotorVehicles 2022-09-30 03043718 d:OfficeEquipment 2022-10-01 2023-09-30 03043718 d:OfficeEquipment 2023-09-30 03043718 d:OfficeEquipment 2022-09-30 03043718 d:CurrentFinancialInstruments 2023-09-30 03043718 d:CurrentFinancialInstruments 2022-09-30 03043718 d:Non-currentFinancialInstruments 2023-09-30 03043718 d:Non-currentFinancialInstruments 2022-09-30 03043718 d:CurrentFinancialInstruments d:WithinOneYear 2023-09-30 03043718 d:CurrentFinancialInstruments d:WithinOneYear 2022-09-30 03043718 d:Non-currentFinancialInstruments d:AfterOneYear 2023-09-30 03043718 d:Non-currentFinancialInstruments d:AfterOneYear 2022-09-30 03043718 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-09-30 03043718 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-09-30 03043718 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-09-30 03043718 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-09-30 03043718 d:ShareCapital 2022-10-01 2023-09-30 03043718 d:ShareCapital 2023-09-30 03043718 d:ShareCapital 2021-10-01 2022-09-30 03043718 d:ShareCapital 2022-09-30 03043718 d:ShareCapital 2021-10-01 03043718 d:RetainedEarningsAccumulatedLosses 2022-10-01 2023-09-30 03043718 d:RetainedEarningsAccumulatedLosses 2023-09-30 03043718 d:RetainedEarningsAccumulatedLosses 2021-10-01 2022-09-30 03043718 d:RetainedEarningsAccumulatedLosses 2022-09-30 03043718 d:RetainedEarningsAccumulatedLosses 2021-10-01 03043718 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-09-30 03043718 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2022-09-30 03043718 c:FRS102 2022-10-01 2023-09-30 03043718 c:AuditExempt-NoAccountantsReport 2022-10-01 2023-09-30 03043718 c:FullAccounts 2022-10-01 2023-09-30 03043718 c:PrivateLimitedCompanyLtd 2022-10-01 2023-09-30 03043718 e:PoundSterling 2022-10-01 2023-09-30 iso4217:GBP xbrli:pure

Registered number: 03043718









TELEX-NET LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 SEPTEMBER 2023

 
TELEX-NET LIMITED
REGISTERED NUMBER: 03043718

BALANCE SHEET
AS AT 30 SEPTEMBER 2023

2023
2022
Note
£
£

  

Current assets
  

Stocks
 5 
1,680
1,680

Debtors: amounts falling due within one year
 6 
68,320
81,383

Cash at bank and in hand
 7 
1,748
276

  
71,748
83,339

Creditors: amounts falling due within one year
 8 
(18,445)
(27,591)

Net current assets
  
 
 
53,303
 
 
55,748

Total assets less current liabilities
  
53,303
55,748

Creditors: amounts falling due after more than one year
  
(10,718)
(16,983)

  

Net assets
  
42,585
38,765


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
42,485
38,665

  
42,585
38,765


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 16 October 2024.




Page 1

 
TELEX-NET LIMITED
REGISTERED NUMBER: 03043718
    
BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2023

Mr. P. Clarke
Director

The notes on pages 5 to 11 form part of these financial statements.

Page 2

 
TELEX-NET LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 SEPTEMBER 2023


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 October 2022
100
38,665
38,765


Comprehensive income for the year

Profit for the year

-
3,820
3,820


Other comprehensive income for the year
-
-
-


Total comprehensive income for the year
-
3,820
3,820


Total transactions with owners
-
-
-


At 30 September 2023
100
42,485
42,585


The notes on pages 5 to 11 form part of these financial statements.

Page 3

 
TELEX-NET LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 SEPTEMBER 2022


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 October 2021
100
35,442
35,542


Comprehensive income for the year

Profit for the year

-
3,223
3,223


Other comprehensive income for the year
-
-
-


Total comprehensive income for the year
-
3,223
3,223


Total transactions with owners
-
-
-


At 30 September 2022
100
38,665
38,765


The notes on pages 5 to 11 form part of these financial statements.

Page 4

 
TELEX-NET LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

1.


General information

The entity is a private company limited by shares and was incorporated in England and Wales. The company's Registered Office address is Unit 39, Axis 31 Woolsbridge Industrial Park, Oak Field Road, Three Legged Cross, Wimborne, BH21 6FE.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 5

 
TELEX-NET LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)

 
2.4

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
20%
Motor vehicles
-
25%
Office equipment
-
20%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is 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.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 6

 
TELEX-NET LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.10

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Page 7

 
TELEX-NET LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

3.


Employees

The average monthly number of employees, including the director, during the year was as follows:


        2023
        2022
            No.
            No.







Director
1
1


4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 October 2022
150,806
12,300
5,980
169,086



At 30 September 2023

150,806
12,300
5,980
169,086



Depreciation


At 1 October 2022
150,806
12,300
5,980
169,086



At 30 September 2023

150,806
12,300
5,980
169,086



Net book value



At 30 September 2023
-
-
-
-



At 30 September 2022
-
-
-
-


5.


Stocks

2023
2022
£
£

Goods for re-sale
1,680
1,680

1,680
1,680



6.


Debtors

2023
2022
£
£

Page 8

 
TELEX-NET LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

6.Debtors (continued)


Trade debtors
7,389
4,395

Other debtors
60,931
76,988

68,320
81,383



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
1,748
276

1,748
276



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
5,864
5,864

Trade creditors
29
301

Corporation tax
4,275
4,275

Other taxation and social security
756
-

Other creditors
6,421
16,551

Accruals and deferred income
1,100
600

18,445
27,591



9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
10,718
16,983

10,718
16,983


Page 9

 
TELEX-NET LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

10.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
5,864
5,864


5,864
5,864

Amounts falling due 1-2 years

Bank loans
5,864
5,864


5,864
5,864

Amounts falling due 2-5 years

Bank loans
4,854
11,119


4,854
11,119


16,582
22,847



11.


Financial instruments

2023
2022
£
£

Financial assets


Financial assets measured at fair value through profit or loss
1,748
276




Financial assets measured at fair value through profit or loss comprise cash at bank.


12.


Related party transactions

At year end the company was owed £44,035 (2022 was owed £44,035) by Net- Telex South Africa, it was owed £16,896 (2022 was owed £16,896)  by Network Telex Dubai and it owed £5,395 (2022 owed £16,355) to Intermedia Supplies Limited. These three companies are controlled by Mr. P. Clarke and are therefore regarded as connected companies. 

Page 10

 
TELEX-NET LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

13.


Controlling party

The company was under the control of Mr. P. Clarke during the entire year by virtue of him owning the 100% of the share capital (2022 100%).

 
Page 11