Company Registration No. 14605186 (England and Wales)
Better Comms (VOIP) LTD
Unaudited financial statements
for the period ended 31 March 2025
Pages for filing with the registrar
Better Comms (VOIP) LTD
Contents
Page
Income statement
1
Statement of financial position
2 - 3
Notes to the financial statements
5 - 12
Better Comms (VOIP) LTD
Income statement
For the period ended 31 March 2025
1
Period
Period
ended
ended
31 March
30 September
2025
2023
£
£
Turnover
10,144,576
939,959
Cost of sales
(6,163,205)
(314,476)
Gross profit
3,981,371
625,483
Administrative expenses
(3,260,614)
(254,895)
Other operating income
14,487
Operating profit
735,244
370,588
Interest receivable and similar income
20,144
Interest payable and similar expenses
(9,506)
Profit before taxation
745,882
370,588
Tax on profit
(197,439)
(89,386)
Profit for the financial period
548,443
281,202
The income statement has been prepared on the basis that all operations are continuing operations.
Better Comms (VOIP) LTD
Statement of financial position
As at 31 March 2025
2
31 March 2025
30 September 2023
Notes
£
£
£
£
Fixed assets
Intangible assets
4
241,111
30,815
Tangible assets
5
40,012
7,802
281,123
38,617
Current assets
Stocks
361,405
-
Debtors falling due after more than one year
6
1,135,680
Debtors falling due within one year
6
1,112,607
221,245
Cash at bank and in hand
778,572
417,752
3,388,264
638,997
Creditors: amounts falling due within one year
7
(2,888,269)
(504,752)
Net current assets
499,995
134,245
Total assets less current liabilities
781,118
172,862
Provisions for liabilities
(69,467)
(9,654)
Net assets
711,651
163,208
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
711,551
163,108
Total equity
711,651
163,208
The directors of the company have elected not to include a copy of the income statement within the financial statements.true
For the financial period ended 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Better Comms (VOIP) LTD
Statement of financial position (continued)
As at 31 March 2025
3
The financial statements were approved by the board of directors and authorised for issue on 28 May 2025 and are signed on its behalf by:
Mitchell Fortescue
Director
Company Registration No. 14605186
Better Comms (VOIP) LTD
Statement of changes in equity
For the period ended 31 March 2025
4
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 19 January 2023
-
Period ended 30 September 2023:
Profit and total comprehensive income
-
281,202
281,202
Issue of share capital
100
-
100
Dividends
-
(118,094)
(118,094)
Balance at 30 September 2023
100
163,108
163,208
Period ended 31 March 2025:
Profit and total comprehensive income
-
548,443
548,443
Balance at 31 March 2025
100
711,551
711,651
Better Comms (VOIP) LTD
Notes to the financial statements
For the period ended 31 March 2025
5
1
Accounting policies
Company information
Better Comms (VOIP) LTD is a private company limited by shares incorporated in England and Wales. The registered office is Telephone House, 18 Christchurch Road, Bournemouth, Dorset, England, BH13NE.
1.1
Reporting period
The reporting period has been extended to an 18 month period in order to be inline with the long term strategy of the company. The prior period results are represented by the period from incorporation on 19 January 2023 to September 2023. Due to this, the comparative amounts shown in the financial statements and related notes are not entirely comparable.
1.2
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the leasing of telecoms equipment, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
Revenue arrangements relating to services over a period and including various deliverables require use of judgement to assess the point at which revenue should be recognised. In the case of installation contracts, the Company recognises revenue only when the installation is complete and the customer is in a position to use the underlying asset. The Company obtains customer sign off to ensure that provision of services has been completed before revenue is recognised.
Better Comms (VOIP) LTD
Notes to the financial statements (continued)
For the period ended 31 March 2025
1
Accounting policies (continued)
6
1.4
Intangible fixed assets other than goodwill
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.
Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Software
5 years reducing balance
1.5
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Office equipments
4 years straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.6
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.
If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.
Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.
Better Comms (VOIP) LTD
Notes to the financial statements (continued)
For the period ended 31 March 2025
1
Accounting policies (continued)
7
1.7
Own Book
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
Own book leases are capitalised as assets at commencement of the lease at the fair value of the leased asset or, if lower, the present value of the minimum lease payments calculated using the interest rate implicit in the lease. Assets are depreciated over the shorter of the lease term and the estimated useful life of the asset. Assets are assessed for impairment at each reporting date. Lease payments are apportioned between capital repayment and finance charge, using the effective interest rate method, to produce a constant rate of charge on the balance of the capital repayments outstanding.
1.8
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.9
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 statement of financial position when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Better Comms (VOIP) LTD
Notes to the financial statements (continued)
For the period ended 31 March 2025
1
Accounting policies (continued)
8
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
1.10
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.11
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Where items recognised in other comprehensive income or equity are chargeable to or deductible for tax purposes, the resulting current or deferred tax expense or income is presented in the same component of comprehensive income or equity as the transaction or other event that resulted in the tax expense or income. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
Better Comms (VOIP) LTD
Notes to the financial statements (continued)
For the period ended 31 March 2025
1
Accounting policies (continued)
9
1.12
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.13
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.14
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
1.15
Costs for buying out existing network contracts are recognised as other debtors at the signing and initiation of network service contracts and amortised over the period of the lease, a maximum of 7 years. In this way revenues recognised as a result of acquiring customers are matched to the expenditure relating to the customer acquisition.
2
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 amount 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 where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3
Employees
The average monthly number of persons (including directors) employed by the company during the period was:
2025
2023
Number
Number
Total
47
4
Better Comms (VOIP) LTD
Notes to the financial statements (continued)
For the period ended 31 March 2025
10
4
Intangible fixed assets
Software
£
Cost
At 1 October 2023
30,815
Additions
210,296
At 31 March 2025
241,111
Amortisation and impairment
At 1 October 2023 and 31 March 2025
Carrying amount
At 31 March 2025
241,111
At 30 September 2023
30,815
5
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 October 2023
8,268
Additions
46,955
At 31 March 2025
55,223
Depreciation and impairment
At 1 October 2023
466
Depreciation charged in the period
14,745
At 31 March 2025
15,211
Carrying amount
At 31 March 2025
40,012
At 30 September 2023
7,802
Better Comms (VOIP) LTD
Notes to the financial statements (continued)
For the period ended 31 March 2025
11
6
Debtors
2025
2023
Amounts falling due within one year:
£
£
Trade debtors
431,222
64,080
Other debtors
681,385
157,165
1,112,607
221,245
2025
2023
Amounts falling due after more than one year:
£
£
Other debtors
1,135,680
Total debtors
2,248,287
221,245
7
Creditors: amounts falling due within one year
2025
2023
£
£
Bank loans and overdrafts
8
Trade creditors
620,115
71,135
Taxation and social security
741,936
174,321
Other creditors
1,526,210
259,296
2,888,269
504,752
8
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2025
2023
£
£
192,000
2,300
9
Related party transactions
Other debtors includes a loan of £54,030 (2023: £nil) owed from a company registered in Dubai to which a director has a controlling interest. The registered office is Silicon Oasis, DDP, Building A1, Dubai, UAE. The loan is interest free and repayable on demand.
Better Comms (VOIP) LTD
Notes to the financial statements (continued)
For the period ended 31 March 2025
12
10
Directors' transactions
Description
% Rate
Opening balance
Amounts advanced
Amounts repaid
Closing balance
£
£
£
£
Loan to director
-
75
625,120
(527,300)
97,895
Loan to director
-
-
258,058
(18,861)
239,197
75
883,178
(546,161)
337,092
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