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Company registration number: 12346340
Complete Voice & Data Solutions Ltd
Unaudited filleted financial statements
31 December 2024
Complete Voice & Data Solutions Ltd
Contents
Statement of financial position
Notes to the financial statements
Complete Voice & Data Solutions Ltd
Statement of financial position
31 December 2024
2024 2023
Note £ £ £ £
Fixed assets
Intangible assets 6 14,000 -
Tangible assets 7 6,412 5,587
_______ _______
20,412 5,587
Current assets
Stocks 4,227 3,363
Debtors 8 334,422 351,919
Cash at bank and in hand 347,361 315,910
_______ _______
686,010 671,192
Creditors: amounts falling due
within one year 9 ( 615,027) ( 601,227)
_______ _______
Net current assets 70,983 69,965
_______ _______
Total assets less current liabilities 91,395 75,552
Creditors: amounts falling due
after more than one year 10 ( 8,250) ( 17,250)
Provisions for liabilities 11 ( 1,218) ( 1,061)
_______ _______
Net assets 81,927 57,241
_______ _______
Capital and reserves
Called up share capital 2,352 2,352
Profit and loss account 79,575 54,889
_______ _______
Shareholders funds 81,927 57,241
_______ _______
For the year ending 31 December 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 financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 07 May 2025 , and are signed on behalf of the board by:
Mr Michael Ridgway
Director
Company registration number: 12346340
Complete Voice & Data Solutions Ltd
Notes to the financial statements
Year ended 31 December 2024
1. General information
The company is a private company limited by shares, registered in United Kingdom. The address of the registered office is Deansfield House, 98 Lancaster Road, Newcastle under Lyme, Staffordshire, ST5 1DS.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill - 3 years straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fittings fixtures and equipment - 20 % straight line
Office equipment - 25 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 10 (2023: 9 ).
5. Profit before taxation
Profit before taxation is stated after charging/(crediting):
2024 2023
£ £
Amortisation of intangible assets 4,000 -
Depreciation of tangible assets 3,736 4,379
_______ _______
6. Intangible assets
Goodwill Total
£ £
Cost
At 1 January 2024 - -
Additions 18,000 18,000
_______ _______
At 31 December 2024 18,000 18,000
_______ _______
Amortisation
At 1 January 2024 - -
Charge for the year 4,000 4,000
_______ _______
At 31 December 2024 4,000 4,000
_______ _______
Carrying amount
At 31 December 2024 14,000 14,000
_______ _______
At 31 December 2023 - -
_______ _______
7. Tangible assets
Fixtures, fittings and equipment Computer equipment Total
£ £ £
Cost
At 1 January 2024 2,640 15,142 17,782
Additions - 4,562 4,562
_______ _______ _______
At 31 December 2024 2,640 19,704 22,344
_______ _______ _______
Depreciation
At 1 January 2024 1,529 10,667 12,196
Charge for the year 593 3,143 3,736
_______ _______ _______
At 31 December 2024 2,122 13,810 15,932
_______ _______ _______
Carrying amount
At 31 December 2024 518 5,894 6,412
_______ _______ _______
At 31 December 2023 1,111 4,475 5,586
_______ _______ _______
8. Debtors
2024 2023
£ £
Trade debtors 183,662 275,350
Other debtors 150,760 76,569
_______ _______
334,422 351,919
_______ _______
9. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 9,217 9,331
Trade creditors 334,868 229,029
Other creditors 270,942 362,867
_______ _______
615,027 601,227
_______ _______
10. Creditors: amounts falling due after more than one year
2024 2023
£ £
Bank loans and overdrafts 8,250 17,250
_______ _______
11. Provisions
Deferred tax (note 12) Total
£ £
At 1 January 2024 1,061 1,061
Additions 157 157
_______ _______
At 31 December 2024 1,218 1,218
_______ _______
12. Deferred tax
The deferred tax included in the statement of financial position is as follows:
2024 2023
£ £
Included in provisions (note 11) 1,218 1,061
_______ _______
13. Operating leases
The company as lessee
The total future minimum lease payments under non-cancellable operating leases are as follows:
£ £
Not later than 1 year 18,327 15,547
Later than 1 year and not later than 5 years 21,727 21,727
_______ _______
40,054 37,274
_______ _______
14. Related party transactions
Michael Ridgway is a related party by virtue of his directorship of and shareholding in the company.The following transactions took place during the year between Michael Ridgway and the company:Amounts due from the related party as at 1 January 2024 : £1,570Payments to related party : £41,352Payments from related party : (£2,000)Amounts due from the related party as at 31 December 2024 : £40,922