Registration number:
Prepared for the registrar
for the
Year Ended 30 September 2024
Small Cell Forum Limited
Contents
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Company Information |
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Directors' Report |
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Balance Sheet |
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Notes to the Financial Statements |
Small Cell Forum Limited
Company Information
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Directors |
C E Fitzsimons S C Fletcher |
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Registered office |
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Auditors |
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Small Cell Forum Limited
Directors' Report for the Year Ended 30 September 2024
The directors present their report and the financial statements for the year ended 30 September 2024.
Director of the company
The director who held office during the year was as follows:
The following directors were appointed after the year end:
Principal activity
The principal activity of the company is the advancement of telecommunications products.
Business review
2024 has been another year of challenges and opportunities for the communications industry including diversification and changes in business models. SCF has continued to adapt its strategy to meet the needs of its members and the industry. Under the leadership of Prabhakar Chitrapu, who continued as chair for the fifth year along with strong support from Chief Strategy Officer, Simon Fletcher, it continued to focus on what impact SCF can make in the sector as well as how it can offer best value to its membership.
Backdrop: Industry Challenges
In 2024 the telecommunications ecosystem continued to face challenges including monetizing 5G, and whilst neutral host models continue to gain traction there are still question marks over the commercial model for these businesses. Despite this 6G continues to be discussed and new markets such as the Middle East have started to move forward quickly with connectivity projects - something SCF is responding to.
SCF's Response: Forging into new regions and markets
Our focus toward the end of 2024 has been to address the market requirements of different areas of the eco-system and to establish the organization in more regions. Traditionally SCF has had stronger membership in Europe and the US, with some in Asia (predominantly India and some in Far East). With the support of our Board members from Saudi Arabia we have been forging links in the Middle East, with extension of our SCWS Series in that region, and rekindling links with Taiwan based members to drive more work and outreach in Taiwan, Japan and Korea. Work from the Regulation and Policy Group has extended to looking at regulation in many regions around the world. All of this is giving SCF a wider global appeal and more touch points for membership. We are conscious that membership recruitment takes time but towards the end of the financial year there are strong signs of new interest from companies in different regions.
2023 - 2024 Highlights: SCF's Achievements
Throughout 2024, SCF demonstrated its commitment to advancing small cell technology and ecosystem collaboration through a series of impactful initiatives:
1. Continued development and evolution of FAPI Core Specifications
2. Advancements in network-FAPI/Split6 Core Specifications
3. Millimetre Wave technologies and Front-end reference designs for small cells
4. Promotion of neutral host value proposition through research and case studies
5. Regulatory & Policy Group (RPG) submissions to regulatory papers, and publication of suite of documents addressing small cell regulation for municipalities
6. Support for sharing frameworks, including JOTS evolution and MOCN and MORAN implementation.
These achievements underscored SCF's pivotal role in driving industry-wide transformation and innovation.
Engagement and Advocacy
SCF's engagement extended beyond technical specifications to advocacy and thought leadership. Notably, SCF played a central role in organizing and hosting SCWS-2024 in London and SCWS Saudi 2024 (Nov), a hugely successful information sharing and networking event. The forum's active participation in industry events, collaboration with stakeholders, and advocacy for global regulatory frameworks exemplified its commitment to fostering a conducive environment for innovation and growth.
Small Cell Forum Limited
Directors' Report for the Year Ended 30 September 2024
Membership and Positive Change
While membership retention posed challenges throughout the year due to industry consolidation and financial constraints, the Board and the leadership team remain focused on both increasing membership and finding new funding sources,through events and government projects. SCF's proactive approach to reaching out to new markets and regions, addressing key industry challenges, particularly in monetizing investments, garnered recognition and support from members and stakeholders. The formation of a ‘taskforce’ of engaged members to help with membership recruitment and monetization opportunities shows the commitment of everyone involved in the Forum to make the organization future-proof. We have also worked to bring down operational costs where possible.
Conclusion
As we reflect on the accomplishments of 2024, it's evident that SCF remains at the forefront of driving innovation and collaboration within the telecommunications industry. Despite the challenges posed by the evolving landscape, SCF's dedication to advancing small cell technology, promoting ecosystem collaboration, and advocating for industry-wide initiatives positions it as a catalyst for positive change. Looking ahead, SCF remains committed to its mission of unlocking the full potential of agile and flexible hybrid network technologies and driving sustainable digital transformation on a global scale.
Disclosure of information to the auditors
Each director has taken steps that they ought to have taken as a director in order to make themselves aware of any relevant audit information and to establish that the company's auditors are aware of that information. The directors confirm that there is no relevant information that they know of and of which they know the auditors are unaware.
Small companies provision statement
This report has 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.
Approved by the
Director
Small Cell Forum Limited
(Registration number: 06295097)
Balance Sheet as at 30 September 2024
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Note |
2024 |
2023 |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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( |
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Net assets |
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Reserves |
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Retained earnings |
96,757 |
188,018 |
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Surplus |
96,757 |
188,018 |
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 director has not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the
Director
Small Cell Forum Limited
Notes to the Financial Statements for the Year Ended 30 September 2024
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General information |
The company is a company limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £2 towards the assets of the company in the event of liquidation.
The address of its registered office is:
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except for, where disclosed in these accounting policies, certain items that are shown at fair value.
The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.
Going concern
After reviewing the company's forecasts and projections, the management team has a reasonable belief that the organisation has the financial resources and support of its members to be able to meet financial obligations as they fall due. The management team also has the ability to reduce, delay or cut overhead expenditure to suit the cash resources available to it if they are required to do so.
The management therefore has a reasonable expectation that the company has adequate resources available to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.
Critical accounting judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
Judgements
No significant judgements have been made by management in preparing these financial statements. |
Small Cell Forum Limited
Notes to the Financial Statements for the Year Ended 30 September 2024
Key sources of estimation uncertainty
No key sources of estimation uncertainty have been identified by management in preparing these financial statements other than those detailed in these accounting policies.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Government grants
Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.
Foreign currency transactions and balances
Tax
The company is a mutual trading company. Income derived from mutual trading is exempt from corporation tax under s490 ICTA 1988.
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Trade debtors
Trade debtors are amounts due from customers for 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.
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 all are repayable within one year and hence are included at the undiscounted amount of cash expected to be paid.
Leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
Small Cell Forum Limited
Notes to the Financial Statements for the Year Ended 30 September 2024
Financial instruments
Classification
Recognition and measurement
Impairment
A non financial asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.
For financial assets carried at amortised cost, the amount of an impairment is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate.
For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.
Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.
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Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
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Profit before tax |
Arrived at after charging:
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2024 |
2023 |
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Foreign currency (gains)/losses |
10,157 |
9,030 |
Small Cell Forum Limited
Notes to the Financial Statements for the Year Ended 30 September 2024
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Debtors |
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2024 |
2023 |
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Trade debtors |
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Other debtors |
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Creditors |
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2024 |
2023 |
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Due within one year |
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Trade creditors |
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Taxation and social security |
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Accrued expenses |
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Deferred income |
248,000 |
305,691 |
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Related party transactions |
Monahan Enterprises
During the year, the company made purchases totalling £25,469 (2023 - £97,237) from Monahan Enterprises, an entity controlled by S Monahan who is acting CEO of Small Cell Forum. At the balance sheet date the company had accrued £nil (2023 - £nil) to Monahan Enterprises.
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Audit report |