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COMPANY REGISTRATION NUMBER: 05738714
ISE COMMUNICATIONS LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
30 March 2024
ISE COMMUNICATIONS LIMITED
STATEMENT OF FINANCIAL POSITION
30 March 2024
2024
2023
Note
£
£
£
£
FIXED ASSETS
Tangible assets
5
23,075
30,377
CURRENT ASSETS
Debtors
6
16,614
16,349
Cash at bank and in hand
31,096
55,551
--------
--------
47,710
71,900
CREDITORS: amounts falling due within one year
7
46,056
53,978
--------
--------
NET CURRENT ASSETS
1,654
17,922
--------
--------
TOTAL ASSETS LESS CURRENT LIABILITIES
24,729
48,299
CREDITORS: amounts falling due after more than one year
8
17,894
29,060
PROVISIONS
5,811
5,772
--------
--------
NET ASSETS
1,024
13,467
--------
--------
CAPITAL AND RESERVES
Called up share capital
1,000
1,000
Profit and loss account
24
12,467
-------
--------
SHAREHOLDERS FUNDS
1,024
13,467
-------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 March 2024 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
ISE COMMUNICATIONS LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
30 March 2024
These financial statements were approved by the board of directors and authorised for issue on 14 November 2024 , and are signed on behalf of the board by:
Mr S J Clubb
Mr S G McAllister
Director
Director
Company registration number: 05738714
ISE COMMUNICATIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 MARCH 2024
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Headlands House, 1 Kings Court, Kettering Parkway, Kettering, Northamptonshire, NN15 6WJ.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis and are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Motor vehicles
-
25% reducing balance
Equipment
-
20% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 3 (2023: 3 ).
5. TANGIBLE ASSETS
Motor vehicles
Equipment
Total
£
£
£
Cost
At 31 March 2023
39,749
6,010
45,759
Additions
367
367
Disposals
( 1,220)
( 1,220)
--------
-------
--------
At 30 March 2024
39,749
5,157
44,906
--------
-------
--------
Depreciation
At 31 March 2023
11,800
3,582
15,382
Charge for the year
6,988
463
7,451
Disposals
( 1,002)
( 1,002)
--------
-------
--------
At 30 March 2024
18,788
3,043
21,831
--------
-------
--------
Carrying amount
At 30 March 2024
20,961
2,114
23,075
--------
-------
--------
At 30 March 2023
27,949
2,428
30,377
--------
-------
--------
6. DEBTORS
2024
2023
£
£
Trade debtors
12,244
16,349
Other debtors
4,370
--------
--------
16,614
16,349
--------
--------
7. CREDITORS: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
7,000
7,200
Trade creditors
7,180
10,138
Social security and other taxes
14,651
14,259
Other creditors
17,225
22,381
--------
--------
46,056
53,978
--------
--------
Included within other creditors are amounts totalling £4,950 (2023 - £4,950) relating to hire purchase agreements which are secured by the company.
8. CREDITORS: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
9,222
15,438
Other creditors
8,672
13,622
--------
--------
17,894
29,060
--------
--------
Included within other creditors are amounts totalling £8,672 (2023 - £13,622) relating to hire purchase agreements which are secured by the company.
9. OPERATING LEASES
The total future minimum lease payments under non-cancellable operating leases are as follows:
2024
2023
£
£
Not later than 1 year
3,276
3,276
Later than 1 year and not later than 5 years
3,276
6,552
-------
-------
6,552
9,828
-------
-------
10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
Mr S J Clubb
4,370
4,370
----
-------
-------
2023
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
Mr S J Clubb
----
----
----
The above balance was cleared within 9 months of the year-end.