Registered number
07398305
NTEL COMMUNICATIONS LTD
Filleted Accounts
31 October 2024
NTEL COMMUNICATIONS LTD
Registered number: 07398305
Balance Sheet
as at 31 October 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 6,362 4,986
Current assets
Debtors 4 23,182 9,327
Cash at bank and in hand 91,108 98,189
114,290 107,516
Creditors: amounts falling due within one year 5 (69,008) (63,379)
Net current assets 45,282 44,137
Total assets less current liabilities 51,644 49,123
Creditors: amounts falling due after more than one year 6 (16,413) (19,604)
Net assets 35,231 29,519
Capital and reserves
Called up share capital 100 100
Profit and loss account 35,131 29,419
Shareholders' funds 35,231 29,519
The director is 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 director acknowledges his 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.
Mr Jonathon Menahem
Director
Approved by the board on 24 February 2025
NTEL COMMUNICATIONS LTD
Notes to the Accounts
for the year ended 31 October 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:
Leasehold land and buildings over term of 5 years
Fixtures, fittings and office equipment 10% reducing balance
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 3
3 Tangible fixed assets
Land and buildings Fixtures, fittings and office equipment Total
£ £ £
Cost
At 1 November 2023 746 8,405 9,151
Additions - 2,083 2,083
At 31 October 2024 746 10,488 11,234
Depreciation
At 1 November 2023 745 3,420 4,165
Charge for the year - 707 707
At 31 October 2024 745 4,127 4,872
Net book value
At 31 October 2024 1 6,361 6,362
At 31 October 2023 1 4,985 4,986
4 Debtors 2024 2023
£ £
Trade debtors 22,133 6,831
Other debtors and prepayments 1,049 2,496
23,182 9,327
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 2,912 2,912
Trade creditors 2,011 3,542
Taxation and social security costs 60,928 50,160
Other creditors and accruals 3,157 6,765
69,008 63,379
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 16,413 19,604
7 Other information
NTEL COMMUNICATIONS LTD is a private company limited by shares and incorporated in England. Its registered office is:
Network House
2 Connaught Avenue
London
E4 7AA
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