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Registration number: 04151212

Go Tel Communications Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2024

 

Go Tel Communications Limited

Contents

Balance Sheet

1 to 2

Notes to the Financial Statements

3 to 7

 

Go Tel Communications Limited

(Registration number: 04151212)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

4,344

2,041

Current assets

 

Debtors

6

103,821

1,359,005

Cash at bank and in hand

 

267,024

2,154,904

 

370,845

3,513,909

Creditors: Amounts falling due within one year

7

(228,534)

(2,195,357)

Net current assets

 

142,311

1,318,552

Total assets less current liabilities

 

146,655

1,320,593

Provisions for liabilities

(1,086)

(510)

Net assets

 

145,569

1,320,083

Capital and reserves

 

Called up share capital

2

2

Profit and loss account

145,567

1,320,081

Shareholders' funds

 

145,569

1,320,083

 

Go Tel Communications Limited

(Registration number: 04151212)
Balance Sheet as at 31 March 2024

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 19 November 2024
 

.........................................
Mr RC Dash
Director

 

Go Tel Communications Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
16 Dorcan Business Village
Murdock Road, Dorcan
Swindon
Wiltshire
SN3 5HY

The principal place of business is:
Unit 10 Athena Avenue
Les Smith Building
Elgin Industrial Estate
Swindon
Wiltshire
SN2 8EJ

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These accounts have been prepared under the historical cost convention.

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

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue from the sale of goods when:
The amount of revenue can be reliably measured (usually on despatch of the goods),
it is probable that future economic benefits will flow to the entity
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are re-translated at the rates prevailing on the reporting end date. Gains and losses arising on translation are included in the profit and loss account for the period.

 

Go Tel Communications Limited

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

Tax

The tax expense for the period comprises current tax payable and deferred tax.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and equipment

25% straight line basis

Fixtures & fittings

25% straight line basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Goods ordered by the company at the year end and in transit are not included as stock or liabilities, as the risk of ownership and title remain with the supplier.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Go Tel Communications Limited

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

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

3

Taxation

2024

2023

£

£

Corporation tax

48,195

264,859

Deferred tax

576

97

48,771

264,956

4

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 3 (2023 - 3).

 

Go Tel Communications Limited

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

5

Tangible assets

Fixtures and fittings
£

Equipment
£

Total
£

Cost or valuation

At 1 April 2023

1,763

6,668

8,431

Additions

2,550

649

3,199

At 31 March 2024

4,313

7,317

11,630

Depreciation

At 1 April 2023

1,755

4,635

6,390

Charge for the year

-

896

896

At 31 March 2024

1,755

5,531

7,286

Carrying amount

At 31 March 2024

2,558

1,786

4,344

At 31 March 2023

8

2,033

2,041

6

Debtors

2024
£

2023
£

Trade debtors

2,051

1,095,957

Prepayments

2,609

402

Other debtors

99,161

262,646

103,821

1,359,005

 

Go Tel Communications Limited

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

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Loans and borrowings

27

6

Trade creditors

158,740

1,378,595

Amounts owed to group undertakings and undertakings in which the company has a participating interest

4,219

2,271

Taxation and social security

51,405

269,470

Other creditors

14,143

545,015

228,534

2,195,357

8

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £1,000 (2023 - £1,000). Go Tel Communications Limited have an agreement with Les Smith Haulage to trade from their premises. There is no contract in place, but a one month notice is required should they wish to vacate.

9

Parent and ultimate parent undertaking

The company's immediate parent is MultiDash Ltd (Company number 10853283), incorporated in England and Wales. Its registered office is 16 Dorcan Business Village, Murdock Road, Swindon SN3 5HY.