Company registration number 07945622 (England and Wales)
COMMSWORKS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025
PAGES FOR FILING WITH REGISTRAR
COMMSWORKS LTD
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
Notes to the financial statements
2 - 4
COMMSWORKS LTD
BALANCE SHEET
AS AT
28 FEBRUARY 2025
28 February 2025
- 1 -
28 February 2025
29 February 2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
4,855
4,410
Current assets
Debtors
4
599,186
504,901
Cash at bank and in hand
167,103
150,311
766,289
655,212
Creditors: amounts falling due within one year
5
(744,146)
(652,513)
Net current assets
22,143
2,699
Total assets less current liabilities
26,998
7,109
Creditors: amounts falling due after more than one year
6
13,083
20,617
Net assets
40,081
27,726
Capital and reserves
Called up share capital
210
2
Profit and loss reserves
39,871
27,724
Total equity
40,081
27,726
For the financial year ended 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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 director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 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.
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved and signed by the director and authorised for issue on 20 May 2025
P Martin
Director
Company registration number 07945622 (England and Wales)
COMMSWORKS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025
- 2 -
1
Accounting policies
Company information
Commsworks Ltd is a private company limited by shares incorporated in England and Wales. The registered office is C/O Xeinadin First Floor Secure House, Lulworth Close, Chandler's Ford, Southampton, Hampshire, England, SO53 3TL.
1.1
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.
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, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
These financial statements for the year ended 28 February 2025 are the first financial statements of Commsworks Ltd prepared in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland. The date of transition to FRS 102 was 1 March 2023. The reported financial position and financial performance for the previous period are not affected by the transition to FRS 102.
1.2
Turnover
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recoverable.
1.3
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 Equipment
33% Straight Line
Computers
33% 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.
1.4
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.
1.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
COMMSWORKS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
1
Accounting policies
(Continued)
- 3 -
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account 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.
1.6
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2025
2024
Number
Number
9
7
3
Tangible fixed assets
Office Equipment
Computers
Total
£
£
£
Cost
At 1 March 2024
5,936
13,720
19,656
Additions
227
3,236
3,463
At 28 February 2025
6,163
16,956
23,119
Depreciation and impairment
At 1 March 2024
3,277
11,969
15,246
Depreciation charged in the year
2,003
1,015
3,018
At 28 February 2025
5,280
12,984
18,264
Carrying amount
At 28 February 2025
883
3,972
4,855
At 29 February 2024
2,659
1,751
4,410
COMMSWORKS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
- 4 -
4
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
217,867
368,110
Other debtors
1,300
821
Prepayments and accrued income
380,019
135,970
599,186
504,901
5
Creditors: amounts falling due within one year
2025
2024
Notes
£
£
Bank loans
10,000
22,404
Other borrowings
1,098
Payments received on account
497,958
Trade creditors
131,268
75,681
Corporation tax
27,133
21,117
Other taxation and social security
28,726
46,965
Deferred income
472,404
Dividends payable
35,988
4,828
Other creditors
5,368
724
Accruals and deferred income
7,705
7,292
744,146
652,513
6
Creditors: amounts falling due after more than one year
2025
2024
Notes
£
£
Bank loans and overdrafts
2,500
Other borrowings
(15,583)
(20,617)
(13,083)
(20,617)