Contact One Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03577259 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2018

for

Contact One Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

D A Riley

D L Riley

SECRETARY:

REGISTERED OFFICE:

43B Princes Crescent

BARE

Morcambe

Lancashire

LA4 6BY

REGISTERED NUMBER:

03577259 (England and Wales)

ACCOUNTANTS:

Triton Accountancy Services Ltd

Automation House

Newton Rd

Lowton St Mary's

Warrington

WA3 2AN

FIXED ASSETS

Tangible assets

4

41,673

30,468

CURRENT ASSETS

Stocks

5

22,750

25,000

Debtors

6

263,272

157,634

Cash at bank and in hand

556,756

762,476

842,778

945,110

CREDITORS

Amounts falling due within one year

7

441,929

543,843

NET CURRENT ASSETS

400,849

401,267

TOTAL ASSETS LESS CURRENT LIABILITIES

442,522

431,735

CREDITORS

Amounts falling due after more than one year

8

(8,647

)

(2,624

)

PROVISIONS FOR LIABILITIES

(3,154

)

(3,154

)

NET ASSETS

430,721

425,957

CAPITAL AND RESERVES

Called up share capital

3

3

Retained earnings

430,718

425,954

430,721

425,957

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 directors acknowledge their 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 Board of Directors on 6 September 2019 and were signed on its behalf by:

D A Riley - Director

1.	STATUTORY INFORMATION

Contact One 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 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

Turnover is measured at the fair value of the consideration received or receivable, excluding

discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of 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

-

33% on cost, 25% on reducing balance, 20% on reducing balance and 15% on reducing balance

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and

handling costs in bringing stocks to their present location and condition.

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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over

the period of the lease.

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 15 (2017 - 12 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 January 2018

25,387

2,348

51,856

17,061

96,652

Additions

-

-

20,998

-

20,998

At 31 December 2018

25,387

2,348

72,854

17,061

117,650

DEPRECIATION

At 1 January 2018

23,471

2,229

23,423

17,061

66,184

Charge for year

479

18

9,296

-

9,793

At 31 December 2018

23,950

2,247

32,719

17,061

75,977

NET BOOK VALUE

At 31 December 2018

1,437

101

40,135

-

41,673

At 31 December 2017

1,916

119

28,433

-

30,468

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

follows:

Motor

vehicles

£

COST

At 1 January 2018

29,857

Additions

20,998

At 31 December 2018

50,855

DEPRECIATION

At 1 January 2018

10,597

Charge for year

7,003

At 31 December 2018

17,600

NET BOOK VALUE

At 31 December 2018

33,255

At 31 December 2017

19,260

5.

STOCKS

31.12.18

31.12.17

£

£

Work-in-progress

22,750

25,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.18

31.12.17

£

£

Trade debtors

238,821

144,792

Amounts owed by group undertakings

800

6,246

Other debtors

23,651

6,596

263,272

157,634

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.18

31.12.17

£

£

Hire purchase contracts

7,686

5,217

Trade creditors

357,036

422,256

Taxation and social security

66,751

61,093

Other creditors

10,456

55,277

441,929

543,843

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.18

31.12.17

£

£

Hire purchase contracts

8,647

2,624