IRIS Accounts Production v25.1.3.33 09061408 director 1.6.23 31.5.24 31.5.24 false true false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh090614082023-05-31090614082024-05-31090614082023-06-012024-05-31090614082022-05-31090614082022-06-012023-05-31090614082023-05-3109061408ns15:EnglandWales2023-06-012024-05-3109061408ns14:PoundSterling2023-06-012024-05-3109061408ns10:Director12023-06-012024-05-3109061408ns10:PrivateLimitedCompanyLtd2023-06-012024-05-3109061408ns10:SmallEntities2023-06-012024-05-3109061408ns10:AuditExempt-NoAccountantsReport2023-06-012024-05-3109061408ns10:SmallCompaniesRegimeForDirectorsReport2023-06-012024-05-3109061408ns10:SmallCompaniesRegimeForAccounts2023-06-012024-05-3109061408ns10:FullAccounts2023-06-012024-05-3109061408ns10:OrdinaryShareClass12023-06-012024-05-3109061408ns10:RegisteredOffice2023-06-012024-05-3109061408ns5:CurrentFinancialInstruments2024-05-3109061408ns5:CurrentFinancialInstruments2023-05-3109061408ns5:Non-currentFinancialInstruments2024-05-3109061408ns5:Non-currentFinancialInstruments2023-05-3109061408ns5:ShareCapital2024-05-3109061408ns5:ShareCapital2023-05-3109061408ns5:RetainedEarningsAccumulatedLosses2024-05-3109061408ns5:RetainedEarningsAccumulatedLosses2023-05-3109061408ns5:FurnitureFittings2023-05-3109061408ns5:MotorVehicles2023-05-3109061408ns5:FurnitureFittings2023-06-012024-05-3109061408ns5:MotorVehicles2023-06-012024-05-3109061408ns5:FurnitureFittings2024-05-3109061408ns5:MotorVehicles2024-05-3109061408ns5:FurnitureFittings2023-05-3109061408ns5:MotorVehicles2023-05-3109061408ns5:WithinOneYearns5:CurrentFinancialInstruments2024-05-3109061408ns5:WithinOneYearns5:CurrentFinancialInstruments2023-05-3109061408ns10:OrdinaryShareClass12024-05-31
REGISTERED NUMBER: 09061408 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 May 2024

for

110 Telecoms Limited

110 Telecoms Limited (Registered number: 09061408)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


110 Telecoms Limited

Company Information
for the Year Ended 31 May 2024







DIRECTOR: Mr S M Jaffer





REGISTERED OFFICE: Primera Accountants Limited
1st Floor Spitalfields Hosue
Stirling Way
Borehamwood
WD6 2FX





REGISTERED NUMBER: 09061408 (England and Wales)





ACCOUNTANTS: TC Group
First Floor
Spitalfields House
Stirling Way
Borehamwood
Hertfordshire
WD6 2FX

110 Telecoms Limited (Registered number: 09061408)

Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 44,918 104,401

CURRENT ASSETS
Stocks 325,560 190,650
Debtors 5 33,213 81,151
Cash at bank and in hand 1,801,336 446,504
2,160,109 718,305
CREDITORS
Amounts falling due within one year 6 1,985,343 539,179
NET CURRENT ASSETS 174,766 179,126
TOTAL ASSETS LESS CURRENT
LIABILITIES

219,684

283,527

CREDITORS
Amounts falling due after more than one
year

7

25,574

28,460
NET ASSETS 194,110 255,067

CAPITAL AND RESERVES
Called up share capital 8 2 2
Retained earnings 194,108 255,065
SHAREHOLDERS' FUNDS 194,110 255,067

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

110 Telecoms Limited (Registered number: 09061408)

Balance Sheet - continued
31 May 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 May 2025 and were signed by:





Mr S M Jaffer - Director


110 Telecoms Limited (Registered number: 09061408)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

110 Telecoms Limited 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 Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax.

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 despatch 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 costs incurred or to be incurred in respect of the transaction can be measured reliably.

Tangible fixed assets
Property, plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses. Such cost includes costs directly attributable to making the assets capable of operating as intended.

The carrying value of tangible assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.

Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

Fixture and fittings 33.33% on reducing balance
Motor vehicles 20% on cost

The company has adopted the policy of not depreciating the assets in the first year, however full depreciation is provided in the year of disposal.

Cash and cash equivalent
Cash and cash equivalents in the statement of financial position comprise cash at banks and in hand, short term deposits with an original maturity date of one month. Cash equivalents are defined as short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value

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

110 Telecoms Limited (Registered number: 09061408)

Notes to the Financial Statements - continued
for the Year Ended 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.

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 and cash and bank balances, 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.

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.

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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the 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.


110 Telecoms Limited (Registered number: 09061408)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

2. ACCOUNTING POLICIES - continued
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 year 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 June 2023 44,012 110,996 155,008
Additions 14,158 112,136 126,294
Disposals - (186,865 ) (186,865 )
At 31 May 2024 58,170 36,267 94,437
DEPRECIATION
At 1 June 2023 23,191 27,416 50,607
Charge for year 10,937 3,914 14,851
Eliminated on disposal - (15,939 ) (15,939 )
At 31 May 2024 34,128 15,391 49,519
NET BOOK VALUE
At 31 May 2024 24,042 20,876 44,918
At 31 May 2023 20,821 83,580 104,401

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 28,241 16,489
Other debtors 4,972 64,662
33,213 81,151

110 Telecoms Limited (Registered number: 09061408)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Hire purchase contracts 2,886 2,886
Trade creditors 906,285 71,679
Taxation and social security 43,532 8,729
Other creditors 1,032,640 455,885
1,985,343 539,179

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.24 31.5.23
£    £   
Hire purchase contracts 25,574 28,460

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.24 31.5.23
value: £    £   
2 Ordinary £1 2 2

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is the director.