Company registration number 03083739 (England and Wales)
COMMUNICATION NETWORKING SYSTEMS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
PAGES FOR FILING WITH REGISTRAR
COMMUNICATION NETWORKING SYSTEMS LIMITED
CONTENTS
Page
Statement of financial position
1 - 2
Notes to the financial statements
3 - 5
COMMUNICATION NETWORKING SYSTEMS LIMITED
STATEMENT OF FINANCIAL POSITION
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
1,195
1,714
Current assets
Stocks
610
610
Debtors
74,246
76,964
Cash at bank and in hand
84,889
114,181
159,745
191,755
Creditors: amounts falling due within one year
(17,144)
(20,420)
Net current assets
142,601
171,335
Total assets less current liabilities
143,796
173,049
Creditors: amounts falling due after more than one year
(8,368)
(18,333)
Provisions for liabilities
(227)
(325)
Net assets
135,201
154,391
Capital and reserves
Called up share capital
4
100
100
Profit and loss reserves
135,101
154,291
Total equity
135,201
154,391
In accordance with section 444 of the Companies Act 2006, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).
The director of the company has elected not to include a copy of the income statement within the financial statements.true
For the financial year ended 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
COMMUNICATION NETWORKING SYSTEMS LIMITED
STATEMENT OF FINANCIAL POSITION (CONTINUED)
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 27 November 2024
Mr D Wakefield
Director
Company registration number 03083739 (England and Wales)
COMMUNICATION NETWORKING SYSTEMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
- 3 -
1
Accounting policies
Company information
Communication Networking Systems Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 2, Highfield Business Park, Tewkesbury Road, Cheltenham, United Kingdom, GL19 4BP.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
The director has considered the working capital needs of the company for a period of more than twelve months from the date of approval of these financial statements, taking into account to ongoing uncertainties created by the recent coronavirus pandemic and other global economic factors. The director believes that the company will continue to generate sufficient working capital to deliver against its current business plan and that the company will be able to continue trading as a going concern. He has consequently prepared the financial statements on that basis.true
1.3
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Revenue is recognised at the point of invoicing.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
25% on reducing balance
Fixtures and fittings
25% on cost
Motor vehicles
25% on cost
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.5
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
COMMUNICATION NETWORKING SYSTEMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
1
Accounting policies
(Continued)
- 4 -
1.6
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.
Current or deferred taxation assets and liabilities are not discounted.
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but no reversed at the statement of financial position date.
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.
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.
1.7
Retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
4
4
COMMUNICATION NETWORKING SYSTEMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 5 -
3
Tangible fixed assets
Total
£
Cost
At 1 August 2023 and 31 July 2024
60,154
Depreciation and impairment
At 1 August 2023
58,440
Depreciation charged in the year
519
At 31 July 2024
58,959
Carrying amount
At 31 July 2024
1,195
At 31 July 2023
1,714
4
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
100
100
100
100
5
Related party transactions
Clear Natural Spas Limited
Company under common control
During the year the company charged Clear Natural Spas Limited a management fee of £90,000 (2023: £110,000) on an arms' length basis. The company also provided working capital funding to the related party and as at 31 July 2024 the company was owed a total of £39,519 (2023: £36,593). The advance is unsecured, interest free and repayable on demand.
Deerhurst Properties Limited
Company under common control
The company rents the business premises from which it operates on an arms' length basis from Deerhurst Properties Limited. Rent paid in the year was £15,600 (2023: £15,600). The company also provided working capital funding to the related party and as at 31 July 2024 the related party owed the company a total of £32,615 (2023: £32,615). The advance is unsecured, interest free and repayable on demand.
Mr D Wakefield
Sole director and shareholder
Mr Wakefield has provided funding to the company for working capital and as at 31 July 2024 the balance owed to the director was £151 (2023: £5). The advance is unsecured, interest free and repayable on demand.