West Pier Telecom Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07589250 (England and Wales)

Financial Statements

for the Year Ended 31 December 2018

for

West Pier Telecom Ltd

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

G J Bloomfield

N J Barnett

REGISTERED OFFICE:

Chancery House

30 St Johns Road

Woking

Surrey

GU21 7SA

REGISTERED NUMBER:

07589250 (England and Wales)

ACCOUNTANTS:

Barnbrook Sinclair

Chartered Accountants

Chancery House

30 St Johns Road

Woking

Surrey

GU21 7SA

FIXED ASSETS

Property, plant and equipment

5

2,896

3,961

CURRENT ASSETS

Inventories

24,193

22,105

Debtors

6

329,985

166,593

Cash at bank

35,494

189,043

389,672

377,741

CREDITORS

Amounts falling due within one year

7

(654,685

)

(612,280

)

NET CURRENT LIABILITIES

(265,013

)

(234,539

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(262,117

)

(230,578

)

CAPITAL AND RESERVES

Called up share capital

200

200

Retained earnings

(262,317

)

(230,778

)

SHAREHOLDERS' FUNDS

(262,117

)

(230,578

)

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 applicable to companies subject to the small companies regime.

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

The financial statements were approved by the Board of Directors on 29 November 2019 and were signed on its behalf by:

N J Barnett - Director

1.	STATUTORY INFORMATION

West Pier Telecom Ltd 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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

The company is in a net current liabilities position at 31 December 2018. After reviewing the company's

forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to

continue in operational existence for the foreseeable future. The company therefore continues to adopt the going

concern basis in preparing its financial statements.

Turnover

Revenue 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 each asset over its estimated useful life.

Fixtures and fittings

-

Straight line over 3 years

Stocks

Inventories 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 Statement of Income and

Retained Earnings, 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

statement of financial position 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.

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2017 - 13 ) .

5.	PROPERTY, PLANT AND EQUIPMENT

Fixtures

and

fittings

£

Cost

At 1 January 2018

24,594

Additions

1,644

At 31 December 2018

26,238

Depreciation

At 1 January 2018

20,633

Charge for year

2,709

At 31 December 2018

23,342

Net book value

At 31 December 2018

2,896

At 31 December 2017

3,961

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/18

31/12/17

£

£

Trade debtors

253,846

148,713

Other debtors

587

152

Tax

24,452

-

Prepayments and accrued income

51,100

17,728

329,985

166,593

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/18

31/12/17

£

£

Trade creditors

171,027

164,325

Social security and other taxes

69,454

103,844

VAT

129,750

132,322

Other creditors

21,057

6,797

Directors' current accounts

35,000

5,000

Accruals and deferred income

228,397

199,992

654,685

612,280

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31/12/18

31/12/17

£

£

Within one year

18,000

16,500

The rent has break outs in June and December with a notice requirement of 3 months.

9.	RELATED PARTY DISCLOSURES

During the year to 31 December 2018, the company made sales under normal commercial terms, totalling £1,378

(2017: £1,260), to Ciptex Ltd, a company under common control. The balance owing from Ciptex Ltd at the

balance sheet date was £nil (2017: £nil). During the year the company made purchases under normal commercial

terms, totalling £1,882 (2017: £2,669) from Ciptex Ltd. The balances owing to Ciptex Ltd at the balance sheet

date was £606 (2017: £757).

During the year to 31 December 2018, the company made purchases under normal commercial terms, totalling

£41,640 (2017: £24,300) from Used Telecoms (Europe) Ltd, a company under common control. The balance

owed to Used Telecoms (Europe) Ltd at the balance sheet date was £12,960 (2017: £6,300).