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Registration number: 03693572

Balcomm Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2024

 

Balcomm Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Balcomm Ltd

Company Information

Directors

Mr P A Richardson

Mr D Bryant

Mr J Faul

Registered office

9/11 Wellesley Avenue
Richings Park
Iver
Buckinghamshire
SL0 9AX

Registered number

03693572

Accountants

Ripe LLP
Chartered Accountants
9A Burroughs Gardens
London
NW4 4AU

 

Balcomm Ltd

(Registration number: 03693572)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

67,723

67,092

Current assets

 

Stocks

6

14,514

23,406

Debtors

7

700,238

529,796

Cash at bank and in hand

 

639,570

449,878

 

1,354,322

1,003,080

Creditors: Amounts falling due within one year

8

(818,114)

(705,628)

Net current assets

 

536,208

297,452

Total assets less current liabilities

 

603,931

364,544

Provisions for liabilities

(16,931)

(12,748)

Net assets

 

587,000

351,796

Capital and reserves

 

Called up share capital

9

100

100

Capital redemption reserve

9,519

9,519

Retained earnings

577,381

342,177

Shareholders' funds

 

587,000

351,796

 

Balcomm Ltd

(Registration number: 03693572)
Balance Sheet as at 30 September 2024

For the financial year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 14 February 2025 and signed on its behalf by:
 

.........................................
Mr P A Richardson
Director

.........................................
Mr D Bryant
Director

.........................................
Mr J Faul
Director

 

Balcomm Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
9/11 Wellesley Avenue
Richings Park
Iver
Buckinghamshire
SL0 9AX

2

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are presented in Sterling (£) and figures are shown to the nearest whole pound.

Revenue recognition

Turnover represents net invoiced sale of services, excluding value added tax.

Government grants

Government grants in relation to expenditure are credited to profit and loss account when the expenditure is charged to profit and loss.

Tax

A provision is recognised when there is legal or constructive obligation as a result of a past event and it is probable that an outflow of economic benefits will be required to settle the obligation.

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

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Balcomm Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Furniture fittings and equipment

25% on reducing balance

Motor vehicles

25% on reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Balcomm Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Defined contribution pension obligation

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the profit and loss account in the period to which they relate.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 20 (2023 - 18).

4

Profit before tax

Tax charged/(credited) in the profit and loss account

2024
£

2023
£

Current taxation

UK corporation tax

276,291

187,764

Deferred taxation

Arising from origination and reversal of timing differences

4,184

(3,365)

Tax expense in the income statement

280,475

184,399

 

Balcomm Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 October 2023

70,786

160,513

231,299

Additions

12,449

10,990

23,439

Disposals

-

(31,949)

(31,949)

At 30 September 2024

83,235

139,554

222,789

Depreciation

At 1 October 2023

53,883

110,324

164,207

Charge for the year

6,496

11,903

18,399

Eliminated on disposal

-

(27,540)

(27,540)

At 30 September 2024

60,379

94,687

155,066

Carrying amount

At 30 September 2024

22,856

44,867

67,723

At 30 September 2023

16,903

50,189

67,092

 

Balcomm Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

6

Stocks

2024
£

2023
£

Work in progress

14,514

23,406

7

Debtors

Current

2024
£

2023
£

Trade debtors

669,918

506,098

Other debtors

30,320

23,698

 

700,238

529,796

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Trade creditors

 

130,405

170,920

Amounts owed to group undertakings

13

148,944

116,426

Taxation and social security

 

275,921

187,524

Other creditors

 

262,844

230,758

 

818,114

705,628

9

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

         

10

Provision for Liabilities

 

Balcomm Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Deferred tax
£

Total
£

At 1 October 2023

12,748

12,748

Increase (decrease) in existing provisions

4,183

4,183

At 30 September 2024

16,931

16,931

11

Pension and other schemes

The company operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the company to the scheme and amounted to £85,387 (2023 - £93,696).

12

Dividends

Final dividends paid

2024
£

2023
£

Final dividend of £2,263.50 (2023 - £3,092.50) per each Ordinary shares

226,350

309,250

 

 

Interim dividends paid

2024
£

2023
£

Interim dividend of £3,000.00 per each Ordinary shares

300,000

300,000

 

 

13

Related party transactions

Amount owed to group undertaking
Balcomm Holdings Limited
As at the balance sheet date, the company owed £148,944 (2023: £116,427) to Balcomm Holding Limited.

14

Parent and ultimate parent undertaking

The ultimate parent is Balcomm Holdings Limited, incorporated in United Kingdom.