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COMPANY REGISTRATION NUMBER: 06011062
C.A. Telecom UK Limited
Financial Statements
31 December 2023
C.A. Telecom UK Limited
Financial Statements
Year ended 31 December 2023
Contents
Page
Strategic report
1
Director's report
3
Independent auditor's report to the members
5
Statement of income and retained earnings
9
Statement of financial position
10
Statement of cash flows
11
Notes to the financial statements
12
C.A. Telecom UK Limited
Strategic Report
Year ended 31 December 2023
The directors present their strategic report for the year ended 31 December 2023. Overview and Strategy With over 15 years' experience, the company offers a first class service based on consistently delivering engineering excellence. CA Telecom UK works on behalf of Main Contractors & Local Authorities across the UK project managing the installation, repairs and relocation of cabling utilities. The company takes on a number of responsibilities from the planning stages all through to completion. CA Telecom ensures that the clients' needs are met with careful attention and professionalism, ensuring every detail has been considered before execution begins - including cost control measures and full health and safety implementation. CA Telecom has an experienced team of professionals with a wide range of skills and knowledge. Summary of key performance indicators
2023 2022
£ £
Turnover 17,175,614 20,193,182
Gross profit 1,339,098 6,410,559
(Loss)/Profit before tax 43,325 5,480,476
The balance sheet at the year end shows shareholders funds of £3,919,911 (2022: £3,776,781) and demonstrates the Directors intentions to continue to retain significant working capital within the business to support the ongoing advancement of the company. Future Development The management team aim to continue working to their upmost potential and be leading innovators in the field by constantly adapting and improving their technology to suit new openings in the market. Since establishing in 2006 CA Telecom has steadily grown to become a UK market leader in diversionary management and civil engineering. With a fleet of specialist vehicles and engineers, CA Telecom operates across the entire UK ensuring that the clients receive a first class service at all times. CA Telecom works closely with our clients in order to offer a range of solutions that ensure that CA Telecom delivers high quality projects every time. Over the past 15 years of business we have been fortunate to work with some great customers and have built relationships that still exist today. CA Telecom prides itself on gaining repeat business and the majority of new business from recommendations. Risks and uncertainties The Directors have considered various relevant market and economic risks that may materially impact the business including supplier and customer credit terms, changes in interest rates, cashflow, pricing, market competition and current business trading trends to understand and model the financial impact. Taking into account the above risks collectively and the options available to mitigate them, the Directors are satisfied that the financial statements should continue to be prepared on a going concern basis and that there are no material foreseeable risks to the business that have not been assessed or disclosed. Environmental concerns CA Telecom UK Ltd is fully aware of the environmental impact of road transport, which is a matter it takes very seriously, and is always seeking wherever possible to mitigate this. Global activities The directors have considered the impact of the events happening on global scale with particular reference to how this may disrupt their business model, strategy and operations. The directors have liaised with suppliers and customers, and similarly they have no dealings that will impact the company's supply chain, recoverability of debt and credit. There has been a worldwide impact on the cost of particular goods, including fuel, which in turn has increased the costs of the business. The directors have calculated the effect and believe that this will not significantly impact it's ability to trade or going concern.
This report was approved by the board of directors on 19 November 2024 and signed on behalf of the board by:
Mr J Amos
Director
Registered office:
Unit 2 C A Business Park
Colewood Road
Whitstable
Kent
United Kingdom
CT5 2RP
C.A. Telecom UK Limited
Director's Report
Year ended 31 December 2023
The director presents his report and the financial statements of the company for the year ended 31 December 2023 .
Director
The director who served the company during the year was as follows:
Mr J Amos
Dividends
Particulars of recommended dividends are detailed in note 11 to the financial statements.
Director's responsibilities statement
The director is responsible for preparing the strategic report, director's report and the financial statements in accordance with applicable law and regulations. Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period. In preparing these financial statements, the director is required to: - select suitable accounting policies and then apply them consistently; - make judgments and accounting estimates that are reasonable and prudent; - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Auditor
Each of the persons who is a director at the date of approval of this report confirms that:
- so far as they are aware, there is no relevant audit information of which the company's auditor is unaware; and - they have taken all steps that they ought to have taken as a director to make themselves aware of any relevant audit information and to establish that the company's auditor is aware of that information.
This report was approved by the board of directors on 19 November 2024 and signed on behalf of the board by:
Mr J Amos
Director
Registered office:
Unit 2 C A Business Park
Colewood Road
Whitstable
Kent
United Kingdom
CT5 2RP
C.A. Telecom UK Limited
Independent Auditor's Report to the Members of C.A. Telecom UK Limited
Year ended 31 December 2023
Opinion
We have audited the financial statements of C.A. Telecom UK Limited (the 'company') for the year ended 31 December 2023 which comprise the statement of income and retained earnings, statement of financial position, statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: - give a true and fair view of the state of the company's affairs as at 31 December 2023 and of its profit for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; - have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.
Other information
The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The director is responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the strategic report and the director's report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the strategic report and the director's report have been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the director's report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: - adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or - the financial statements are not in agreement with the accounting records and returns; or - certain disclosures of director's remuneration specified by law are not made; or - we have not received all the information and explanations we require for our audit.
Responsibilities of the director
As explained more fully in the director's responsibilities statement, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the director is responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.
Auditor's responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: We identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and then design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion. In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we have considered; the nature of the industry, control environment and business performance with particular reference to the Company's remuneration policies, key drivers for directors' remuneration, bonus levels and performance targets. We also consider the results of our enquiries of management, relating totheir own identification and assessment of the risks of irregularities and possible related fraud. This includes reviewing available documentation on their policies and procedures and performing tests of controls to evidence their effectiveness. Throughout the audit testing we are considering the incentives that may exist within the organisation for fraud. Key areas include timing of recognising income around the year end, posting of unusual journals and manipulating the Company's performance measures to meet remuneration targets and bank covenants. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override. We ensure we have an understanding of the relevant laws and regulations and remain alert to possible non-compliance throughout the audit. Despite proper planning and audit work in accordance with auditing standards there are inherent limitations and unavoidable risk that we may not detect some irregularities and material misstatements in the financial statements. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations. As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also: - Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. - Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the internal control. - Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the director. - Conclude on the appropriateness of the director's use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the company to cease to continue as a going concern. - Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. Use of our report
This report is made solely to the company's members, as a body, in accordance with chapter 3 of part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.
Steven Sutton FCA
(Senior Statutory Auditor)
For and on behalf of
Burgess Hodgson LLP
Chartered accountants & statutory auditor
Camburgh House
27 New Dover Road
Canterbury
Kent
CT1 3DN
29 November 2024
C.A. Telecom UK Limited
Statement of Income and Retained Earnings
Year ended 31 December 2023
2023
2022
(restated)
Note
£
£
Turnover
4
17,175,614
20,193,182
Cost of sales
15,836,516
13,782,623
-------------
-------------
Gross profit
1,339,098
6,410,559
Administrative expenses
1,455,137
943,117
------------
------------
Operating (loss)/profit
5
( 116,039)
5,467,442
Other interest receivable and similar income
9
159,364
13,034
------------
------------
Profit before taxation
43,325
5,480,476
Tax on profit
10
30,036
1,053,447
--------
------------
Profit for the financial year and total comprehensive income
13,289
4,427,029
--------
------------
Dividends paid and payable
11
( 4,180,000)
Retained earnings at the start of the year
3,776,681
3,529,652
------------
------------
Retained earnings at the end of the year
3,789,970
3,776,681
------------
------------
All the activities of the company are from continuing operations.
C.A. Telecom UK Limited
Statement of Financial Position
31 December 2023
2023
2022
(restated)
Note
£
£
£
Fixed assets
Tangible assets
12
1,272,432
932,705
Current assets
Debtors
13
6,181,797
6,470,280
Cash at bank and in hand
10,269,917
8,414,653
-------------
-------------
16,451,714
14,884,933
Creditors: amounts falling due within one year
14
13,708,570
11,847,497
-------------
-------------
Net current assets
2,743,144
3,037,436
------------
------------
Total assets less current liabilities
4,015,576
3,970,141
Provisions
Taxation including deferred tax
15
225,506
193,360
------------
------------
Net assets
3,790,070
3,776,781
------------
------------
Capital and reserves
Called up share capital
19
80
80
Capital redemption reserve
20
20
20
Profit and loss account
20
3,789,970
3,776,681
------------
------------
Shareholders funds
3,790,070
3,776,781
------------
------------
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the medium companies regime.
These financial statements were approved by the board of directors and authorised for issue on 19 November 2024 , and are signed on behalf of the board by:
Mr J Amos
Director
Company registration number: 06011062
C.A. Telecom UK Limited
Statement of Cash Flows
Year ended 31 December 2023
2023
2022
(restated)
£
£
Cash flows from operating activities
Profit for the financial year
13,289
4,427,029
Adjustments for:
Depreciation of tangible assets
491,115
356,509
Other interest receivable and similar income
( 159,364)
( 13,034)
(Gains)/loss on disposal of tangible assets
( 4,144)
22,977
Tax on profit
30,036
1,053,447
Accrued expenses
1,275,468
2,925,075
Changes in:
Trade and other debtors
288,483
( 2,308,051)
Trade and other creditors
4,296,188
( 821,691)
------------
------------
Cash generated from operations
6,231,071
5,642,261
Interest received
159,364
13,034
Tax paid
( 908,473)
( 237,322)
------------
------------
Net cash from operating activities
5,481,962
5,417,973
------------
------------
Cash flows from investing activities
Purchase of tangible assets
( 881,936)
( 1,069,584)
Proceeds from sale of tangible assets
55,238
81,437
------------
------------
Net cash used in investing activities
( 826,698)
( 988,147)
------------
------------
Cash flows from financing activities
Proceeds from loans from group undertakings
( 2,800,000)
3,750,000
Dividends paid
( 4,180,000)
------------
------------
Net cash used in financing activities
( 2,800,000)
( 430,000)
------------
------------
Net increase in cash and cash equivalents
1,855,264
3,999,826
Cash and cash equivalents at beginning of year
8,414,653
4,414,827
-------------
------------
Cash and cash equivalents at end of year
10,269,917
8,414,653
-------------
------------
C.A. Telecom UK Limited
Notes to the Financial Statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 2 C A Business Park, Colewood Road, Whitstable, Kent, United Kingdom, CT5 2RP.
2. Statement of compliance
These financial statements have been prepared in compliance with 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, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
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 from contracts is recognised based on the stage of completion, if the outcome can be reliably measured. Management time on jobs is spent at the back end of a contract, in this respect revenue in relation to management time is only recognised upon completion of the contract. If the outcome cannot be measured reliably, then all contract costs are expensed as incurred, and revenue is only recognised to the extent that it is probable that costs are recoverable. If the contract as a whole is expected to be loss-making, then the whole expected loss is recognised immediately as an onerous contract provision. Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that it is probable the expenses recognised will be recovered.
Income tax
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.
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:
Plant and Machinery
-
33% straight line
Motor Vehicles
-
25% straight line
Equipment
-
25% straight line
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.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. 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 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.
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. Turnover
Turnover arises from:
2023
2022
(restated)
£
£
Rendering of services
17,175,614
20,193,182
-------------
-------------
The whole of the turnover is attributable to the principal activity of the company wholly undertaken in the United Kingdom.
5. Operating (loss)/profit
Operating profit or loss is stated after charging/crediting:
2023
2022
(restated)
£
£
Depreciation of tangible assets
491,115
356,509
(Gains)/loss on disposal of tangible assets
( 4,144)
22,977
Impairment of trade debtors
(4,373)
---------
---------
6. Auditor's remuneration
2023
2022
(restated)
£
£
Fees payable for the audit of the financial statements
15,000
--------
----
7. Staff costs
The average number of persons employed by the company during the year, including the director, amounted to:
2023
2022
No.
No.
Production staff
39
32
Management staff
2
2
----
----
41
34
----
----
The aggregate payroll costs incurred during the year, relating to the above, were:
2023
2022
(restated)
£
£
Wages and salaries
1,894,384
1,479,234
Other pension costs
240,000
40,000
------------
------------
2,134,384
1,519,234
------------
------------
8. Director's remuneration
The director's aggregate remuneration in respect of qualifying services was:
2023
2022
(restated)
£
£
Company contributions to defined contribution pension plans
60,000
40,000
--------
--------
9. Other interest receivable and similar income
2023
2022
(restated)
£
£
Interest on cash and cash equivalents
159,364
13,034
---------
--------
10. Tax on profit
Major components of tax expense
2023
2022
(restated)
£
£
Current tax:
UK current tax expense
909,805
Adjustments in respect of prior periods
( 2,110)
-------
---------
Total current tax
( 2,110)
909,805
-------
---------
Deferred tax:
Origination and reversal of timing differences
32,146
143,642
--------
------------
Tax on profit
30,036
1,053,447
--------
------------
Reconciliation of tax expense
The tax assessed on the profit on ordinary activities for the year is higher than (2022: higher than) the standard rate of corporation tax in the UK of 19 % (2022: 19 %).
2023
2022
(restated)
£
£
Profit on ordinary activities before taxation
43,325
5,480,476
--------
------------
Profit on ordinary activities by rate of tax
8,232
1,041,290
Adjustment to tax charge in respect of prior periods
( 2,110)
Effect of expenses not deductible for tax purposes
18,854
11,672
Effect of capital allowances and depreciation
( 70,287)
( 143,157)
Unused tax losses
43,201
Deferred tax
32,146
143,642
--------
------------
Tax on profit
30,036
1,053,447
--------
------------
11. Dividends
2023
2022
(restated)
£
£
Dividends paid during the year (excluding those for which a liability existed at the end of the prior year )
4,180,000
----
------------
12. Tangible assets
Plant and machinery
Motor vehicles
Equipment
Total
£
£
£
£
Cost
At 1 January 2023 (as restated)
117,550
1,238,262
31,044
1,386,856
Additions
80,865
798,158
2,913
881,936
Disposals
( 90,689)
( 90,689)
---------
------------
--------
------------
At 31 December 2023
198,415
1,945,731
33,957
2,178,103
---------
------------
--------
------------
Depreciation
At 1 January 2023
45,854
395,931
12,366
454,151
Charge for the year
63,568
419,175
8,372
491,115
Disposals
( 39,595)
( 39,595)
---------
------------
--------
------------
At 31 December 2023
109,422
775,511
20,738
905,671
---------
------------
--------
------------
Carrying amount
At 31 December 2023
88,993
1,170,220
13,219
1,272,432
---------
------------
--------
------------
At 31 December 2022
71,696
842,331
18,678
932,705
---------
------------
--------
------------
13. Debtors
2023
2022
(restated)
£
£
Trade debtors
3,098,799
5,069,719
Prepayments and accrued income
1,619,743
20,431
Corporation tax repayable
126,452
Other debtors
1,336,803
1,380,130
------------
------------
6,181,797
6,470,280
------------
------------
14. Creditors: amounts falling due within one year
2023
2022
(restated)
£
£
Trade creditors
565,992
502,613
Amounts owed to group undertakings
950,000
3,750,000
Accruals and deferred income
6,716,390
5,440,922
Corporation tax
910,583
Social security and other taxes
55,382
1,136,292
Other creditors
5,420,806
107,087
-------------
-------------
13,708,570
11,847,497
-------------
-------------
15. Provisions
Deferred tax (note 16)
£
At 1 January 2023 (as restated)
193,360
Additions
32,146
---------
At 31 December 2023
225,506
---------
16. Deferred tax
The deferred tax included in the statement of financial position is as follows:
2023
2022
(restated)
£
£
Included in provisions (note 15)
225,506
193,360
---------
---------
The deferred tax account consists of the tax effect of timing differences in respect of:
2023
2022
(restated)
£
£
Accelerated capital allowances
283,386
193,360
Unused tax losses
( 57,880)
---------
---------
225,506
193,360
---------
---------
17. Employee benefits
Defined contribution plans
The amount recognised in profit or loss as an expense in relation to defined contribution plans was £ 240,000 (2022: £ 40,000 ).
18. Prior period errors
The financial statements have been restated by the directors to reflect an amended estimation for deferred income. The tax charges have also been updated accordingly for this change. The impact of this correction has had the following effect on the current and prior years:
2023 2022
£ £
Turnover increase/(decrease) (665,535)
Deferred income increase/(decrease) 665,535
Corporation tax increase/(decrease) (126,452)
Deferred tax provision increase/(decrease) 143,642
Net assets increase/(decrease) (648,345)
19. Called up share capital
Issued, called up and fully paid
2023
2022
(restated)
No.
£
No.
£
'A' Ordinary shares of £ 1 each
20
20
20
20
'B' Ordinary shares of £ 1 each
60
60
60
60
----
----
----
----
80
80
80
80
----
----
----
----
20. Reserves
Capital redemption reserve - This reserve records the nominal value of shares repurchased by the company.
21. Analysis of changes in net debt
At 1 Jan 2023
Cash flows
At 31 Dec 2023
£
£
£
Cash at bank and in hand
8,414,653
1,855,264
10,269,917
Debt due within one year
(3,750,000)
2,800,000
(950,000)
------------
------------
-------------
4,664,653
4,655,264
9,319,917
------------
------------
-------------
22. Related party transactions
At the balance sheet date, the company had trade debtors balances due of £36,743 (2022: £Nil) and trade creditors balances payable of £13,427 (2022: £Nil) to companies which are related due to common control. At the year end the company owed £950,000 (2022: £3,750,000) to a group company. At the year end the company owed £1,028,272 (2022: £18,713) to a company with common control. At the year end the company was owed £8,903 (2022: £225) by a company with common control. At the year end the company was owed £800,000 (2022: £1,379,135) by a company with common control.
23. Controlling party
The controlling party of C.A. Telecom UK Limited is C.A. Telecom UK Holdings Limited. The address of C.A. Telecom UK Holdings Limited is Unit 2, C A Business Park, Colewood Road, Whitstable, Kent, United Kingdom, CT5 2RP .