Runcomm Global Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08513108 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2018

for

Runcomm Global Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Mr M D Ward

REGISTERED OFFICE:

Braich Goch Villa

Corris

Machynlleth

Powys

SY20 9SH

REGISTERED NUMBER:

08513108 (England and Wales)

FIXED ASSETS

Tangible assets

4

2,401

3,752

CURRENT ASSETS

Stocks

37,785

30,054

Debtors

5

32,060

38,552

Cash at bank and in hand

3,920

11,270

73,765

79,876

CREDITORS

Amounts falling due within one year

6

45,109

44,102

NET CURRENT ASSETS

28,656

35,774

TOTAL ASSETS LESS CURRENT LIABILITIES

31,057

39,526

PROVISIONS FOR LIABILITIES

319

641

NET ASSETS

30,738

38,885

CAPITAL AND RESERVES

Called up share capital

9

200

200

Retained earnings

10

30,538

38,685

SHAREHOLDERS' FUNDS

30,738

38,885

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2018 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.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

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 on 7 March 2019 and were signed by:

Mr M D Ward - Director

1.	STATUTORY INFORMATION

Runcomm Global 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents net invoiced sales of goods and services, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

25% on reducing balance and 25% on cost

Stocks

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

moving items.

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.

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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2017 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2018

and 31 December 2018

8,955

DEPRECIATION

At 1 January 2018

5,204

Charge for year

1,350

At 31 December 2018

6,554

NET BOOK VALUE

At 31 December 2018

2,401

At 31 December 2017

3,751

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 January 2018

1,257

Transfer to ownership

(1,257

)

At 31 December 2018

-

DEPRECIATION

At 1 January 2018

210

Charge for year

261

Transfer to ownership

(471

)

At 31 December 2018

-

NET BOOK VALUE

At 31 December 2018

-

At 31 December 2017

1,047

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.18

31.12.17

£

£

Trade debtors

3,456

2,934

Other debtors

28,604

35,618

32,060

38,552

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.18

31.12.17

£

£

Hire purchase contracts (see note 7)

-

1,087

Trade creditors

7,628

10,691

Taxation and social security

9,062

8,413

Other creditors

28,419

23,911

45,109

44,102

7.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts

31.12.18

31.12.17

£

£

Net obligations repayable:

Within one year

-

1,087

Non-cancellable operating

leases

31.12.18

31.12.17

£

£

Within one year

3,979

3,979

Between one and five years

6,300

10,279

10,279

14,258

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.18

31.12.17

£

£

Hire purchase contracts

-

1,087

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.18

31.12.17

value:

£

£

100

Ordinary

£1

100

100

100

B Ordinary

£1

100

100

200

200

10.

RESERVES

Retained

earnings

£

At 1 January 2018

38,685

Profit for the year

26,853

Dividends

(35,000

)

At 31 December 2018

30,538

11.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

Included in debtors is £28,514 in respect of a loan to the director. Interest is charged on the loan at 2.5% with no

fixed repayment terms.