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REGISTERED NUMBER: 03333380 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Contact Sales Limited

Contact Sales Limited (Registered number: 03333380)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


Contact Sales Limited (Registered number: 03333380)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Tangible assets 4 58,164 3,753
Investments 5 25,000 25,000
83,164 28,753

Current assets
Stocks 484,109 336,766
Debtors 6 395,131 344,539
Cash at bank 669,825 1,078,769
1,549,065 1,760,074
Creditors
Amounts falling due within one year 7 361,463 600,978
Net current assets 1,187,602 1,159,096
Total assets less current liabilities 1,270,766 1,187,849

Provisions for liabilities 14,541 938
Net assets 1,256,225 1,186,911

Capital and reserves
Called up share capital 9 11 11
Retained earnings 10 1,256,214 1,186,900
Shareholders' funds 1,256,225 1,186,911

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.

Contact Sales Limited (Registered number: 03333380)

Balance Sheet - continued
31 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 22 October 2024 and were signed on its behalf by:





R Stallibrass - Director


Contact Sales Limited (Registered number: 03333380)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. Statutory information

Contact Sales Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 03333380

Registered office: Office 15B
Bloxham Mill
Barford Road
Bloxham, Banbury
Oxfordshire
OX16 4FF

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.

Tangible fixed assets
Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Fixtures, fittings and equipment35% Straight line

Investments in associates
Investments in associates are measured at cost less impairment.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Contact Sales Limited (Registered number: 03333380)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. Accounting policies - continued

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

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Provisions
Provisions are recognised when the charity has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated.

Leases
Rentals payable and receivable under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

Taxation
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

Turnover and other income
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:


Contact Sales Limited (Registered number: 03333380)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. Accounting policies - continued
Sales income
Turnover from sales is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on insert detail (eg. dispatch of the goods).

Interest and dividends receivable
Interest income is recognised using the effective interest method and dividend income is recognised as the company's right to receive payment is established.

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.

The company contributes to a defined contribution workplace pension plan for the benefit of its employees. Contributions are charged to the statement of financial activities in the period to which they relate.

3. Employees and directors

The average number of employees during the year was 11 (2023 - 11 ) .

4. Tangible fixed assets
Furniture
and
equipment
£   
Cost
At 1 April 2023 43,360
Additions 68,299
Disposals (5,619 )
At 31 March 2024 106,040
Depreciation
At 1 April 2023 39,607
Charge for year 13,888
Eliminated on disposal (5,619 )
At 31 March 2024 47,876
Net book value
At 31 March 2024 58,164
At 31 March 2023 3,753

Contact Sales Limited (Registered number: 03333380)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. Fixed asset investments
Interest
in
associate
£   
Cost
At 1 April 2023
and 31 March 2024 25,000
Net book value
At 31 March 2024 25,000
At 31 March 2023 25,000

6. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 234,072 195,057
Other debtors 24,481 8,618
VAT 34,480 50,261
Prepayments and accrued income 102,098 90,603
395,131 344,539

7. Creditors: amounts falling due within one year
2024 2023
£    £   
Trade creditors 169,360 453,931
Tax 119,368 97,380
Social security and other taxes 35,767 9,799
Other creditors 26,983 8,618
Accrued expenses 9,985 31,250
361,463 600,978

8. Secured debts

The company granted a debenture to Close Investment Finance Ltd on 23 May 2005 in respect of sales invoice factoring services. The debenture is secured by fixed and floating charges on the assets of Contact Sales Ltd.

Contact Sales Limited (Registered number: 03333380)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

9. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1,000 A Ordinary £0.01 10 10
53 B Ordinary £0.01 1 1
11 11

10. Reserves
Retained
earnings
£   

At 1 April 2023 1,186,900
Profit for the year 413,601
Dividends (344,287 )
At 31 March 2024 1,256,214