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REGISTERED NUMBER: 05938802 (England and Wales)















Group Strategic Report, Report of the Directors and

Consolidated Financial Statements for the Period 1 December 2022 to 31 May 2024

for

Communications Plus Ltd

Communications Plus Ltd (Registered number: 05938802)






Contents of the Consolidated Financial Statements
for the Period 1 December 2022 to 31 May 2024




Page

Company Information 1

Group Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 5

Consolidated Income Statement 9

Consolidated Other Comprehensive Income 10

Consolidated Balance Sheet 11

Company Balance Sheet 12

Consolidated Statement of Changes in Equity 13

Company Statement of Changes in Equity 14

Consolidated Cash Flow Statement 15

Notes to the Consolidated Cash Flow Statement 16

Notes to the Consolidated Financial Statements 17


Communications Plus Ltd

Company Information
for the Period 1 December 2022 to 31 May 2024







DIRECTORS: S M Roberts
Mrs L M Roberts
N Burke





SECRETARY: N Burke





REGISTERED OFFICE: Unit 1
Millbrook Business Park Mill Lane
Rainford
St Helens
Merseyside
WA11 8LZ





REGISTERED NUMBER: 05938802 (England and Wales)





AUDITORS: Myersons
Statutory Auditors
Chartered Accountants
32 Derby Street
Ormskirk
Lancashire
L39 2BY

Communications Plus Ltd (Registered number: 05938802)

Group Strategic Report
for the Period 1 December 2022 to 31 May 2024

The directors present their strategic report of the company and the group for the period 1 December 2022 to 31 May 2024.

REVIEW OF BUSINESS
During the year the group turnover increased to £65m (2022: £47m). Due to VMO2's decision in September 2022 to close down the Franchise Programme, 3 stores were closed and 15 transferred to VMO2 during the period.

Profit before tax for the company has increased to £14.4m (2022: £2.3m) and profit before tax for the group has increased to £13.3m (2022: £1.6m). These increases includes the final settlement relating to the close down of the Franchise Programme.

PRINCIPAL RISKS AND UNCERTAINTIES
In September 2022 VMO2 announced that following a Strategic Review of their Franchise Programme that they will not be continuing with the franchise model. As each individual store reaches its franchise agreement end or break, the agreement will not be renewed or the break will be served and the store will either close or transfer to VMO2 ownership.

By 31 May 2024, all stores had been closed or transferred back to VMO2 and our Customer Support Centre had closed.

The impact of this major change and reduced size of the group will financially materialise in the year 2024/25 and with strategic plans for growth in other areas, including Business Mobiles, SIMs, Digital products, Ultra Fast Fibre Connectivity, VoIP systems and Unified Communications and by managing the company's costs we will continue to be profitable although profits will be reduced.

Despite these risks, the directors believe the company is in a strong position, both financially and operationally to maximise the opportunities and challenges that are presented.

FUTURE DEVELOPMENTS
The directors consider that with management of cost reductions and operational efficiencies and the growth of our Business to Business division that the company will still be trading profitably and the future, whilst challenging, will continue to be positive.

In June 2024 the Communications Plus Ltd retained the Investors In People Platinum accreditation for the next 3 years.

KEY PERFORMANCE INDICATORS
The directors monitor the financial performance of the Company by reference to revenue share, operating profit and cashflow.

ON BEHALF OF THE BOARD:





S M Roberts - Director


14 March 2025

Communications Plus Ltd (Registered number: 05938802)

Report of the Directors
for the Period 1 December 2022 to 31 May 2024

The directors present their report with the financial statements of the company and the group for the period 1 December 2022 to 31 May 2024.

PRINCIPAL ACTIVITIES
The principal activities of the group in the period under review were those of mobile phone retail outlets, the provision and management of communication systems and the retailing of mobile phones.

DIVIDENDS
Interim dividends totalling £24210 per share were paid during the period. The directors recommend that no final dividend be paid.

The total distribution of dividends for the period ended 31 May 2024 will be £ 2,421,000 .

DIRECTORS
The directors shown below have held office during the whole of the period from 1 December 2022 to the date of this report.

S M Roberts
Mrs L M Roberts
N Burke

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

Communications Plus Ltd (Registered number: 05938802)

Report of the Directors
for the Period 1 December 2022 to 31 May 2024


AUDITORS
The auditors, Myersons, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:



S M Roberts - Director


14 March 2025

Report of the Independent Auditors to the Members of
Communications Plus Ltd

Opinion
We have audited the financial statements of Communications Plus Ltd (the 'parent company') and its subsidiaries (the 'group') for the period ended 31 May 2024 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the group's and of the parent company affairs as at 31 May 2024 and of the group's profit for the period then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
Communications Plus Ltd


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
Communications Plus Ltd


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

-the senior statutory auditor ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;

-we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the client and their industry sector;

-we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation and data protection, employment and environmental and health and safety legislation;

-we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management; and

-identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

-making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected, and alleged fraud; and

-considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:

-performed analytical procedures to identify any unusual or unexpected relationships;

-tested journal entries to identify unusual transactions;

-assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and

-investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

-agreeing financial statement disclosures to underlying supporting documentation;

-enquiring of management as to actual and potential litigation and claims; and

-reviewing correspondence with HMRC.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.
Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

Report of the Independent Auditors to the Members of
Communications Plus Ltd


A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Paul Rothwell FCA FCCA CTA (Senior Statutory Auditor)
for and on behalf of Myersons
Statutory Auditors
Chartered Accountants
32 Derby Street
Ormskirk
Lancashire
L39 2BY

14 March 2025

Communications Plus Ltd (Registered number: 05938802)

Consolidated
Income Statement
for the Period 1 December 2022 to 31 May 2024

Period
1.12.22
to Year Ended
31.5.24 30.11.22
Notes £    £   

TURNOVER 64,560,044 46,575,762

Cost of sales 37,930,529 33,250,476
GROSS PROFIT 26,629,515 13,325,286

Administrative expenses 14,401,108 11,876,923
12,228,407 1,448,363

Other operating income 988,129 109,325
OPERATING PROFIT 4 13,216,536 1,557,688

Interest receivable and similar income 96,837 6,418
13,313,373 1,564,106

Interest payable and similar expenses 5 - 138
PROFIT BEFORE TAXATION 13,313,373 1,563,968

Tax on profit 6 3,505,362 438,615
PROFIT FOR THE FINANCIAL PERIOD 9,808,011 1,125,353
Profit attributable to:
Owners of the parent 9,808,011 1,125,353

Communications Plus Ltd (Registered number: 05938802)

Consolidated
Other Comprehensive Income
for the Period 1 December 2022 to 31 May 2024

Period
1.12.22
to Year Ended
31.5.24 30.11.22
Notes £    £   

PROFIT FOR THE PERIOD 9,808,011 1,125,353


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE PERIOD

9,808,011

1,125,353

Total comprehensive income attributable to:
Owners of the parent 9,808,011 1,125,353

Communications Plus Ltd (Registered number: 05938802)

Consolidated Balance Sheet
31 May 2024

31.5.24 30.11.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 9 1,625,598 2,793,524
Tangible assets 10 776,674 917,366
Investments 11
Interest in associate - 3
2,402,272 3,710,893

CURRENT ASSETS
Stocks 12 2,566 1,824,243
Debtors 13 14,736,199 8,509,584
Cash at bank and in hand 1,727,836 4,197,437
16,466,601 14,531,264
CREDITORS
Amounts falling due within one year 14 6,489,552 13,171,894
NET CURRENT ASSETS 9,977,049 1,359,370
TOTAL ASSETS LESS CURRENT
LIABILITIES

12,379,321

5,070,263

CREDITORS
Amounts falling due after more than one
year

15

(8,494

)

(72,287

)

PROVISIONS FOR LIABILITIES 18 (86,893 ) (101,053 )
NET ASSETS 12,283,934 4,896,923

CAPITAL AND RESERVES
Called up share capital 19 100 100
Retained earnings 20 12,283,834 4,896,823
SHAREHOLDERS' FUNDS 12,283,934 4,896,923

The financial statements were approved by the Board of Directors and authorised for issue on 14 March 2025 and were signed on its behalf by:





S M Roberts - Director


Communications Plus Ltd (Registered number: 05938802)

Company Balance Sheet
31 May 2024

31.5.24 30.11.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 9 - 50,334
Tangible assets 10 764,993 880,633
Investments 11 4,117,871 4,110,685
4,882,864 5,041,652

CURRENT ASSETS
Stocks 12 - 1,820,397
Debtors 13 13,187,367 6,638,663
Cash at bank and in hand 1,628,008 3,792,812
14,815,375 12,251,872
CREDITORS
Amounts falling due within one year 14 5,131,534 11,215,477
NET CURRENT ASSETS 9,683,841 1,036,395
TOTAL ASSETS LESS CURRENT
LIABILITIES

14,566,705

6,078,047

PROVISIONS FOR LIABILITIES 18 84,382 94,939
NET ASSETS 14,482,323 5,983,108

CAPITAL AND RESERVES
Called up share capital 19 100 100
Retained earnings 20 14,482,223 5,983,008
SHAREHOLDERS' FUNDS 14,482,323 5,983,108

Company's profit for the financial year 10,920,215 1,901,676

The financial statements were approved by the Board of Directors and authorised for issue on 14 March 2025 and were signed on its behalf by:





S M Roberts - Director


Communications Plus Ltd (Registered number: 05938802)

Consolidated Statement of Changes in Equity
for the Period 1 December 2022 to 31 May 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 December 2021 100 4,771,470 4,771,570

Changes in equity
Dividends - (1,000,000 ) (1,000,000 )
Total comprehensive income - 1,125,353 1,125,353
Balance at 30 November 2022 100 4,896,823 4,896,923

Changes in equity
Dividends - (2,421,000 ) (2,421,000 )
Total comprehensive income - 9,808,011 9,808,011
Balance at 31 May 2024 100 12,283,834 12,283,934

Communications Plus Ltd (Registered number: 05938802)

Company Statement of Changes in Equity
for the Period 1 December 2022 to 31 May 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 December 2021 100 5,081,332 5,081,432

Changes in equity
Dividends - (1,000,000 ) (1,000,000 )
Total comprehensive income - 1,901,676 1,901,676
Balance at 30 November 2022 100 5,983,008 5,983,108

Changes in equity
Dividends - (2,421,000 ) (2,421,000 )
Total comprehensive income - 10,920,215 10,920,215
Balance at 31 May 2024 100 14,482,223 14,482,323

Communications Plus Ltd (Registered number: 05938802)

Consolidated Cash Flow Statement
for the Period 1 December 2022 to 31 May 2024

Period
1.12.22
to Year Ended
31.5.24 30.11.22
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 1,145,857 2,093,840
Interest paid - (138 )
Tax paid (984,603 ) (437,051 )
Net cash from operating activities 161,254 1,656,651

Cash flows from investing activities
Purchase of intangible fixed assets (7,186 ) (54,765 )
Purchase of tangible fixed assets (291,528 ) (264,752 )
Sale of tangible fixed assets 32,995 525
Sale of fixed asset investments 40,000 -
Interest received 96,837 6,418
Net cash from investing activities (128,882 ) (312,574 )

Cash flows from financing activities
Amount introduced by directors 1,839,960 760,000
Amount withdrawn by directors (1,920,933 ) (679,074 )
Equity dividends paid (2,421,000 ) (1,000,000 )
Net cash from financing activities (2,501,973 ) (919,074 )

(Decrease)/increase in cash and cash equivalents (2,469,601 ) 425,003
Cash and cash equivalents at beginning of
period

2

4,197,437

3,772,434

Cash and cash equivalents at end of
period

2

1,727,836

4,197,437

Communications Plus Ltd (Registered number: 05938802)

Notes to the Consolidated Cash Flow Statement
for the Period 1 December 2022 to 31 May 2024

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS

Period
1.12.22
to Year Ended
31.5.24 30.11.22
£    £   
Profit before taxation 13,313,373 1,563,968
Depreciation charges 1,470,648 1,054,659
Loss on disposal of fixed assets 63,690 17,844
Sundry adjustments 2 -
Finance costs - 138
Finance income (96,837 ) (6,418 )
14,750,876 2,630,191
Decrease in stocks 1,821,677 646,524
(Increase)/decrease in trade and other debtors (6,226,615 ) 619,466
Decrease in trade and other creditors (9,200,081 ) (1,802,341 )
Cash generated from operations 1,145,857 2,093,840

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Period ended 31 May 2024
31.5.24 1.12.22
£    £   
Cash and cash equivalents 1,727,836 4,197,437
Year ended 30 November 2022
30.11.22 1.12.21
£    £   
Cash and cash equivalents 4,197,437 3,772,434


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.12.22 Cash flow At 31.5.24
£    £    £   
Net cash
Cash at bank and in hand 4,197,437 (2,469,601 ) 1,727,836
4,197,437 (2,469,601 ) 1,727,836
Total 4,197,437 (2,469,601 ) 1,727,836

Communications Plus Ltd (Registered number: 05938802)

Notes to the Consolidated Financial Statements
for the Period 1 December 2022 to 31 May 2024

1. STATUTORY INFORMATION

Communications Plus Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the General 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements.

Turnover
Turnover represents net invoiced sales of goods and commissions receivable, excluding value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of businesses in 2010, 2011, 2013 and 2016, is being amortised evenly over its estimated useful life of five years.

Goodwill in relation to business combinations is also being amortised over its estimated useful life of five years.

Intangible assets
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Amortisation is recognised so as to write off the cost or valuation of assets less residual values over their useful lives on the following bases:

Website development20% on cost
Database20% reducing balance

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - in accordance with the property
Improvements to property - 10% on cost
Fixtures and fittings - 25% on cost and 20% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 20% on cost

Investments in associates
Investments in associate undertakings are recognised at cost.

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

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

Communications Plus Ltd (Registered number: 05938802)

Notes to the Consolidated Financial Statements - continued
for the Period 1 December 2022 to 31 May 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Consolidated 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 period 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 group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS
Period
1.12.22
to Year Ended
31.5.24 30.11.22
£    £   
Wages and salaries 8,100,814 6,584,754
Social security costs 801,712 699,959
Other pension costs 190,953 145,760
9,093,479 7,430,473

Communications Plus Ltd (Registered number: 05938802)

Notes to the Consolidated Financial Statements - continued
for the Period 1 December 2022 to 31 May 2024

3. EMPLOYEES AND DIRECTORS - continued

The average number of employees during the period was as follows:
Period
1.12.22
to Year Ended
31.5.24 30.11.22

Average number of employees 170 216

Period
1.12.22
to Year Ended
31.5.24 30.11.22
£    £   
Directors' remuneration 264,530 192,079
Directors' pension contributions to money purchase schemes 27,333 14,000

Information regarding the highest paid director for the period ended 31 May 2024 is as follows:
Period
1.12.22
to
31.5.24
£   
Emoluments etc 169,459
Pension contributions to money purchase schemes 9,000

4. OPERATING PROFIT

The operating profit is stated after charging:

Period
1.12.22
to Year Ended
31.5.24 30.11.22
£    £   
Hire of plant and machinery 2,344 2,070
Other operating leases 99,155 29,692
Depreciation - owned assets 321,538 267,427
Loss on disposal of fixed assets 63,690 17,844
Goodwill amortisation 1,122,994 747,226
Franchise fee amortisation 24,334 34,666
Development costs amortisation - 1
Computer software amortisation 1,784 5,339
Auditors' remuneration 24,879 21,435

Communications Plus Ltd (Registered number: 05938802)

Notes to the Consolidated Financial Statements - continued
for the Period 1 December 2022 to 31 May 2024

5. INTEREST PAYABLE AND SIMILAR EXPENSES
Period
1.12.22
to Year Ended
31.5.24 30.11.22
£    £   
Bank loan interest - 36
Corporation tax interest - 102
- 138

6. TAXATION

Analysis of the tax charge
The tax charge on the profit for the period was as follows:
Period
1.12.22
to Year Ended
31.5.24 30.11.22
£    £   
Current tax:
UK corporation tax 3,519,522 459,541
Previous years - (78,345 )
Total current tax 3,519,522 381,196

Deferred tax (14,160 ) 57,419
Tax on profit 3,505,362 438,615

Communications Plus Ltd (Registered number: 05938802)

Notes to the Consolidated Financial Statements - continued
for the Period 1 December 2022 to 31 May 2024

6. TAXATION - continued

Reconciliation of total tax charge included in profit and loss
The tax assessed for the period is higher than the standard rate of corporation tax in the UK. The difference is explained below:

Period
1.12.22
to Year Ended
31.5.24 30.11.22
£    £   
Profit before tax 13,313,373 1,563,968
Profit multiplied by the standard rate of corporation tax in the UK of
23.666 % (2022 - 19 %)

3,150,743

297,154

Effects of:
Expenses not deductible for tax purposes 28,172 18,963
Depreciation in excess of capital allowances 75,692 2,048
Utilisation of tax losses - 21
Adjustments to tax charge in respect of previous periods - (78,345 )
Deferred tax movement (14,160 ) 57,419
Goodwill Amortisation 265,776 141,973


Consolidation adjustments 530 -
Structural & Buildings allowance (1,391 ) (618 )
Total tax charge 3,505,362 438,615

7. INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


8. DIVIDENDS
Period
1.12.22
to Year Ended
31.5.24 30.11.22
£    £   
Interim 2,421,000 1,000,000

Communications Plus Ltd (Registered number: 05938802)

Notes to the Consolidated Financial Statements - continued
for the Period 1 December 2022 to 31 May 2024

9. INTANGIBLE FIXED ASSETS

Group
Franchise Development Computer
Goodwill fee costs software Totals
£    £    £    £    £   
COST
At 1 December 2022 4,554,346 310,000 392 42,044 4,906,782
Additions 7,186 - - - 7,186
Disposals (816,568 ) (310,000 ) - - (1,126,568 )
At 31 May 2024 3,744,964 - 392 42,044 3,787,400
AMORTISATION
At 1 December 2022 1,813,535 259,666 392 39,665 2,113,258
Amortisation for period 1,122,994 24,334 - 1,784 1,149,112
Eliminated on disposal (816,568 ) (284,000 ) - - (1,100,568 )
At 31 May 2024 2,119,961 - 392 41,449 2,161,802
NET BOOK VALUE
At 31 May 2024 1,625,003 - - 595 1,625,598
At 30 November 2022 2,740,811 50,334 - 2,379 2,793,524

Company
Franchise
Goodwill fee Totals
£    £    £   
COST
At 1 December 2022 816,568 310,000 1,126,568
Disposals (816,568 ) (310,000 ) (1,126,568 )
At 31 May 2024 - - -
AMORTISATION
At 1 December 2022 816,568 259,666 1,076,234
Amortisation for period - 24,334 24,334
Eliminated on disposal (816,568 ) (284,000 ) (1,100,568 )
At 31 May 2024 - - -
NET BOOK VALUE
At 31 May 2024 - - -
At 30 November 2022 - 50,334 50,334

Communications Plus Ltd (Registered number: 05938802)

Notes to the Consolidated Financial Statements - continued
for the Period 1 December 2022 to 31 May 2024

10. TANGIBLE FIXED ASSETS

Group
Improvements Fixtures
Short to and
leasehold property fittings
£    £    £   
COST
At 1 December 2022 141,196 1,011,068 2,090,917
Additions - - 6,989
Disposals (141,196 ) - (1,596,068 )
At 31 May 2024 - 1,011,068 501,838
DEPRECIATION
At 1 December 2022 103,552 443,603 1,925,817
Charge for period 10,701 130,028 86,526
Eliminated on disposal (114,253 ) - (1,528,075 )
At 31 May 2024 - 573,631 484,268
NET BOOK VALUE
At 31 May 2024 - 437,437 17,570
At 30 November 2022 37,644 567,465 165,100

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 December 2022 157,211 168,415 3,568,807
Additions 278,919 5,620 291,528
Disposals - (61,027 ) (1,798,291 )
At 31 May 2024 436,130 113,008 2,062,044
DEPRECIATION
At 1 December 2022 90,079 88,390 2,651,441
Charge for period 58,944 35,339 321,538
Eliminated on disposal - (45,281 ) (1,687,609 )
At 31 May 2024 149,023 78,448 1,285,370
NET BOOK VALUE
At 31 May 2024 287,107 34,560 776,674
At 30 November 2022 67,132 80,025 917,366

Communications Plus Ltd (Registered number: 05938802)

Notes to the Consolidated Financial Statements - continued
for the Period 1 December 2022 to 31 May 2024

10. TANGIBLE FIXED ASSETS - continued

Company
Improvements Fixtures
Short to and
leasehold property fittings
£    £    £   
COST
At 1 December 2022 141,196 774,832 1,725,950
Additions - - 4,941
Disposals (141,196 ) - (1,596,068 )
At 31 May 2024 - 774,832 134,823
DEPRECIATION
At 1 December 2022 103,552 229,354 1,575,596
Charge for period 10,701 112,925 76,529
Eliminated on disposal (114,253 ) - (1,528,075 )
At 31 May 2024 - 342,279 124,050
NET BOOK VALUE
At 31 May 2024 - 432,553 10,773
At 30 November 2022 37,644 545,478 150,354

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 December 2022 157,211 168,415 2,967,604
Additions 278,919 5,620 289,480
Disposals - (61,027 ) (1,798,291 )
At 31 May 2024 436,130 113,008 1,458,793
DEPRECIATION
At 1 December 2022 90,079 88,390 2,086,971
Charge for period 58,944 35,339 294,438
Eliminated on disposal - (45,281 ) (1,687,609 )
At 31 May 2024 149,023 78,448 693,800
NET BOOK VALUE
At 31 May 2024 287,107 34,560 764,993
At 30 November 2022 67,132 80,025 880,633

Communications Plus Ltd (Registered number: 05938802)

Notes to the Consolidated Financial Statements - continued
for the Period 1 December 2022 to 31 May 2024

11. FIXED ASSET INVESTMENTS

Group
Interest
in
associate
£   
COST
At 1 December 2022 3
Disposals (3 )
At 31 May 2024 -
NET BOOK VALUE
At 31 May 2024 -
At 30 November 2022 3

Interest in associate

The investment in the above associate company has not been presented in the financial statements due to the balances being immaterial for the period to 31 May 2024.

Company
Shares in
group
undertakings
£   
COST
At 1 December 2022 4,110,685
Additions 7,186
At 31 May 2024 4,117,871
NET BOOK VALUE
At 31 May 2024 4,117,871
At 30 November 2022 4,110,685

The group or the company's investments at the Balance Sheet date in the share capital of companies include the following:

Subsidiaries

Cellular Solutions Holdings Limited
Registered office: Ferryboat House, Ferryboat Lane, Sunderland, SR5 3JN
Nature of business: Communication systems and mobile phone retailer
%
Class of shares: holding
Ordinary 100.00

Cellular Solutions (North East) Limited
Registered office: Ferryboat House, Ferryboat Lane, Sunderland, SR5 3JN
Nature of business: Communication systems and mobile phone retailer
%
Class of shares: holding
Ordinary 100.00

Communications Plus Ltd (Registered number: 05938802)

Notes to the Consolidated Financial Statements - continued
for the Period 1 December 2022 to 31 May 2024

11. FIXED ASSET INVESTMENTS - continued


12. STOCKS

Group Company
31.5.24 30.11.22 31.5.24 30.11.22
£    £    £    £   
Stocks 2,566 1,824,243 - 1,820,397

13. DEBTORS

Group Company
31.5.24 30.11.22 31.5.24 30.11.22
£    £    £    £   
Amounts falling due within one year:
Trade debtors 10,670,002 4,483,621 10,503,758 4,323,035
Amounts owed by group undertakings - - 38,246 7,186
Other debtors 172,442 58,351 168,645 56,097
Associated company loan 1,225,995 1,170,000 1,225,995 1,170,000
Prepayments and accrued income 2,667,760 2,695,772 1,250,723 980,505
14,736,199 8,407,744 13,187,367 6,536,823

Amounts falling due after more than one year:
Other debtors - 101,840 - 101,840

Aggregate amounts 14,736,199 8,509,584 13,187,367 6,638,663

14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
31.5.24 30.11.22 31.5.24 30.11.22
£    £    £    £   
Trade creditors 1,774,874 9,163,679 1,056,966 7,846,394
Tax 2,729,522 194,603 2,716,116 103,951
Social security and other taxes 691,495 1,092,767 673,458 1,076,182
VAT 135,584 27,982 - -
Other creditors 501,591 620,422 498,095 613,439
Directors' current accounts 73 81,046 73 81,046
Accruals and deferred income 656,413 1,991,395 186,826 1,494,465
6,489,552 13,171,894 5,131,534 11,215,477

15. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

Group
31.5.24 30.11.22
£    £   
Trade creditors 8,494 72,287

Communications Plus Ltd (Registered number: 05938802)

Notes to the Consolidated Financial Statements - continued
for the Period 1 December 2022 to 31 May 2024

16. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Non-cancellable operating leases
31.5.24 30.11.22
£    £   
Within one year 196,724 735,237
Between one and five years 222,475 919,714
419,199 1,654,951

Company
Non-cancellable operating leases
31.5.24 30.11.22
£    £   
Within one year 116,144 673,857
Between one and five years 130,965 884,906
247,109 1,558,763

17. SECURED DEBTS

The following secured debts are included within creditors:

Company
31.5.24 30.11.22
£    £   
- 7,585,987

The personal guarantee given by the director, S M Roberts, covering the balances owed to the franchise provider expired on 31 May 2024.

18. PROVISIONS FOR LIABILITIES

Group Company
31.5.24 30.11.22 31.5.24 30.11.22
£    £    £    £   
Deferred tax 86,893 101,053 84,382 94,939

Group
Deferred
tax
£   
Balance at 1 December 2022 101,053
Provided during period (14,160 )
Balance at 31 May 2024 86,893

Communications Plus Ltd (Registered number: 05938802)

Notes to the Consolidated Financial Statements - continued
for the Period 1 December 2022 to 31 May 2024

18. PROVISIONS FOR LIABILITIES - continued

Company
Deferred
tax
£   
Balance at 1 December 2022 94,939
Provided during period (10,557 )
Balance at 31 May 2024 84,382

The provision for deferred tax is made entirely in relation to accelerated capital allowances and pension provision timing differences.

19. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 31.5.24 30.11.22
value: £    £   
100 Share capital 1 £1 100 100

20. RESERVES

Group
Retained
earnings
£   

At 1 December 2022 4,896,823
Profit for the period 9,808,011
Dividends (2,421,000 )
At 31 May 2024 12,283,834

Company
Retained
earnings
£   

At 1 December 2022 5,983,008
Profit for the period 10,920,215
Dividends (2,421,000 )
At 31 May 2024 14,482,223


21. PENSION COMMITMENTS

The group companies operate defined contribution pension schemes. The assets of the schemes are held in a separately administered fund. Contributions payable for the year are charged in the profit and loss account and totalled £190,953 (2022: £145,760).

Communications Plus Ltd (Registered number: 05938802)

Notes to the Consolidated Financial Statements - continued
for the Period 1 December 2022 to 31 May 2024

22. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the period ended 31 May 2024 and the year ended 30 November 2022:

31.5.24 30.11.22
£    £   
S M Roberts and Mrs L M Roberts
Balance outstanding at start of period - (120 )
Amounts advanced 1,632,803 351,624
Amounts repaid (1,632,803 ) (351,504 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period - -

23. RELATED PARTY DISCLOSURES

Rent totalling £56,250 (2022: £37,500) was paid to a pension scheme for office space during the year, of which one of the directors is a beneficiary.

Other related parties
31.5.24 30.11.22
£    £   
Sales 87,259 17,173
Purchases 12,820 14,000
Amount due from related party 1,254,801 1,172,812