Registered number
11989105
Comms Technology Ltd
Filleted Accounts
31 May 2024
Comms Technology Ltd
Registered number: 11989105
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 6,548 7,639
Tangible assets 4 4,595 1,960
11,143 9,599
Current assets
Stocks 33,119 12,571
Debtors 5 20,960 17,500
Cash at bank and in hand 278,887 128,294
332,966 158,365
Creditors: amounts falling due within one year 6 (297,061) (189,266)
Net current assets/(liabilities) 35,905 (30,901)
Total assets less current liabilities 47,048 (21,302)
Creditors: amounts falling due after more than one year 7 (13,023) (23,374)
Net assets/(liabilities) 34,025 (44,676)
Capital and reserves
Called up share capital 100 100
Profit and loss account 33,925 (44,776)
Shareholders' funds 34,025 (44,676)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Trevor James Levy
Director
Approved by the board on 16 January 2025
Comms Technology Ltd
Notes to the Accounts
for the year ended 31 May 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 20% on wdv
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 4 2
3 Intangible fixed assets £
Cost
At 1 June 2023 10,912
At 31 May 2024 10,912
Amortisation
At 1 June 2023 3,273
Provided during the year 1,091
At 31 May 2024 4,364
Net book value
At 31 May 2024 6,548
At 31 May 2023 7,639
Research and development is being amortised in equal annual instalments over 10 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 June 2023 2,293
Additions 4,076
At 31 May 2024 6,369
Depreciation
At 1 June 2023 333
Charge for the year 1,441
At 31 May 2024 1,774
Net book value
At 31 May 2024 4,595
At 31 May 2023 1,960
5 Debtors 2024 2023
£ £
Trade debtors 16,722 17,500
Other debtors 4,238 -
20,960 17,500
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 10,299 10,648
Trade creditors 34,177 159,328
Taxation and social security costs 19,811 4,157
Other creditors 232,774 15,133
297,061 189,266
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 13,023 23,374
8 Other information
Comms Technology Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Phoenix Studio 8
c/o MK Accountants Limited
253-255 Belgrave Gate
Leicester
LE1 3HU
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