Oscatel Ltd 06822088 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is Telecommunications activities Digita Accounts Production Advanced 6.30.9574.0 true true 06822088 2023-04-01 2024-03-31 06822088 2024-03-31 06822088 bus:Director1 1 2024-03-31 06822088 core:CurrentFinancialInstruments 2024-03-31 06822088 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 06822088 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 06822088 core:Goodwill 2024-03-31 06822088 core:OfficeEquipment 2024-03-31 06822088 bus:SmallEntities 2023-04-01 2024-03-31 06822088 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 06822088 bus:FilletedAccounts 2023-04-01 2024-03-31 06822088 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 06822088 bus:RegisteredOffice 2023-04-01 2024-03-31 06822088 bus:CompanySecretary1 2023-04-01 2024-03-31 06822088 bus:Director1 2023-04-01 2024-03-31 06822088 bus:Director1 1 2023-04-01 2024-03-31 06822088 bus:Director3 2023-04-01 2024-03-31 06822088 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 06822088 core:Goodwill 2023-04-01 2024-03-31 06822088 core:OfficeEquipment 2023-04-01 2024-03-31 06822088 countries:EnglandWales 2023-04-01 2024-03-31 06822088 2023-03-31 06822088 bus:Director1 1 2023-03-31 06822088 core:Goodwill 2023-03-31 06822088 core:CostValuation 2023-03-31 06822088 core:OfficeEquipment 2023-03-31 06822088 2022-04-01 2023-03-31 06822088 2023-03-31 06822088 core:CurrentFinancialInstruments 2023-03-31 06822088 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 06822088 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 06822088 core:OfficeEquipment 2023-03-31 iso4217:GBP xbrli:pure

Registration number: 06822088

Oscatel Ltd

Annual Report and Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Oscatel Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 12

 

Oscatel Ltd

Company Information

Directors

L Blackwell

R A Blackwell

Company secretary

ED2 Limited

Registered office

2 Charnwood House
Marsh Road
Ashton
Bristol
BS3 2NA

Accountants

Stone & Co Chartered Accountants
2 Charnwood House
Marsh Road
Ashton
Bristol
BS3 2NA

 

Oscatel Ltd

(Registration number: 06822088)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

         

Fixed assets

   

Tangible assets

5

 

43,637

67,030

Investments

6

 

31,000

31,000

   

74,637

98,030

Current assets

   

Stocks

7

51,515

 

-

Debtors

8

63,704

 

63,353

Cash at bank and in hand

 

489,488

 

548,233

 

604,707

 

611,586

Creditors: Amounts falling due within one year

9

(541,232)

 

(334,444)

Net current assets

   

63,475

277,142

Total assets less current liabilities

   

138,112

375,172

Creditors: Amounts falling due after more than one year

9

 

-

(22,107)

Provisions for liabilities

 

(394)

-

Net assets

   

137,718

353,065

Capital and reserves

   

Called up share capital

100

 

100

Retained earnings

137,618

 

352,965

Shareholders' funds

   

137,718

353,065

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.

Directors' 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 directors acknowledge their 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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

Oscatel Ltd

(Registration number: 06822088)
Balance Sheet as at 31 March 2024

Approved and authorised by the Board on 25 November 2024 and signed on its behalf by:
 

.........................................

L Blackwell
Director

.........................................

R A Blackwell
Director

 

Oscatel Ltd

Notes to the Unaudited 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:
2 Charnwood House
Marsh Road
Ashton
Bristol
BS3 2NA
United Kingdom

These financial statements were authorised for issue by the Board on 25 November 2024.

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

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 when:
The amount of revenue can be reliably measured;
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.

 

Oscatel Ltd

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

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income 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.

Unrelieved tax losses and other deferred tax assets are recognised when 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 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

Equipment

20% - 50% straight line

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

 

Oscatel Ltd

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

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

10% straight line

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

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.

Trade debtors

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

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

 

Oscatel Ltd

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

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

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.

3

Staff numbers

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

 

Oscatel Ltd

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

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 April 2023

14,400

14,400

At 31 March 2024

14,400

14,400

Amortisation

At 1 April 2023

14,400

14,400

At 31 March 2024

14,400

14,400

Carrying amount

At 31 March 2024

-

-

5

Tangible assets

Office equipment
£

Total
£

Cost or valuation

At 1 April 2023

557,250

557,250

Additions

12,275

12,275

Disposals

(310,957)

(310,957)

At 31 March 2024

258,568

258,568

Depreciation

At 1 April 2023

490,220

490,220

Charge for the year

35,668

35,668

Eliminated on disposal

(310,957)

(310,957)

At 31 March 2024

214,931

214,931

Carrying amount

At 31 March 2024

43,637

43,637

At 31 March 2023

67,030

67,030

6

Investments

2024
£

2023
£

Other investments

31,000

31,000

 

Oscatel Ltd

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

Associates

£

Cost

At 1 April 2023

31,000

Provision

Carrying amount

At 31 March 2024

31,000

At 31 March 2023

31,000

7

Stocks

2024
£

2023
£

Work in progress

51,515

-

8

Debtors

Current

2024
£

2023
£

Trade debtors

47,011

32,446

Prepayments

5,724

24,142

Other debtors

10,969

6,765

 

63,704

63,353

 

Oscatel Ltd

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

9

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

-

10,393

Trade creditors

 

143,920

203,081

Taxation and social security

 

49,771

68,574

Accruals and deferred income

 

342,834

25,035

Other creditors

 

4,707

27,361

 

541,232

334,444

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

-

22,107

10

Related party transactions

 

Oscatel Ltd

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

Transactions with directors

2024

At 1 April 2023
£

Advances to director
£

At 31 March 2024
£

L Blackwell

-

1,946

1,946

 

Oscatel Ltd

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

Other transactions with directors

At the balance sheet date the directors owed the company £1,946 (2023: the company owed the directors £25,000).

The amounts owed the the company were interest free and repayable on demand.