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REGISTERED NUMBER: SC434425 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024

FOR

Commwire Ltd

Commwire Ltd (Registered number: SC434425)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 October 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Commwire Ltd

COMPANY INFORMATION
for the Year Ended 31 October 2024







DIRECTORS: Mr J Mclaughlin
Miss L Thomson





REGISTERED OFFICE: Unit 17
Colvilles Park
East Kilbride
Glasgow
G75 0GZ





REGISTERED NUMBER: SC434425 (Scotland)





ACCOUNTANTS: R.A.M.
Unit 17, Colvilles Park
Kelvin Industrial Estate
East Kilbride
South Lanarkshire
G75 0GZ

Commwire Ltd (Registered number: SC434425)

BALANCE SHEET
31 October 2024

31.10.24 31.10.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 31,363 41,819

CURRENT ASSETS
Stocks 1,199 1,516
Debtors 5 195,099 257,662
Cash at bank and in hand 45,858 108,889
242,156 368,067
CREDITORS
Amounts falling due within one year 6 82,308 208,622
NET CURRENT ASSETS 159,848 159,445
TOTAL ASSETS LESS CURRENT
LIABILITIES

191,211

201,264

CREDITORS
Amounts falling due after more than one
year

7

41,477

56,298
NET ASSETS 149,734 144,966

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 149,732 144,964
SHAREHOLDERS' FUNDS 149,734 144,966

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

Commwire Ltd (Registered number: SC434425)

BALANCE SHEET - continued
31 October 2024



The financial statements were approved by the Board of Directors and authorised for issue on 11 December 2024 and were signed on its behalf by:





Mr J Mclaughlin - Director


Commwire Ltd (Registered number: SC434425)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 October 2024


1. STATUTORY INFORMATION

Commwire Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-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.

Commwire Ltd (Registered number: SC434425)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 October 2024


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2023 - 14 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 November 2023
and 31 October 2024 3,067 49,700 52,767
DEPRECIATION
At 1 November 2023 1,773 9,175 10,948
Charge for year 324 10,132 10,456
At 31 October 2024 2,097 19,307 21,404
NET BOOK VALUE
At 31 October 2024 970 30,393 31,363
At 31 October 2023 1,294 40,525 41,819

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Trade debtors 195,099 257,662

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Bank loans and overdrafts 17,002 7,377
Hire purchase contracts 9,487 9,487
Trade creditors 12,643 31,501
Taxation and social security 28,323 120,098
Other creditors 14,853 40,159
82,308 208,622

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.10.24 31.10.23
£    £   
Hire purchase contracts 20,458 29,724
Other creditors 21,019 26,574
41,477 56,298