Discrete Time Communications (UK) Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04389630 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31st May 2020

for

Discrete Time Communications (UK) Ltd

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

J L Taylor

Mrs S Taylor

P C F Taylor

SECRETARY:

R Layton FCA

REGISTERED OFFICE:

6 Manchester Road

Buxton

Derbyshire

SK17 6SB

REGISTERED NUMBER:

04389630 (England and Wales)

ACCOUNTANTS:

Laytons

Chartered Accountants

6 Manchester Road

Buxton

Derbyshire

SK17 6SB

FIXED ASSETS

Tangible assets

4

1,090,908

1,090,911

CURRENT ASSETS

Debtors

3,600

26,700

Cash at bank

290,626

249,288

294,226

275,988

CREDITORS

Amounts falling due within one year

14,173

27,163

NET CURRENT ASSETS

280,053

248,825

TOTAL ASSETS LESS CURRENT LIABILITIES

1,370,961

1,339,736

CAPITAL AND RESERVES

Called up share capital

5

98

100

Capital redemption reserve

6

2

-

Retained earnings

6

1,370,861

1,339,636

SHAREHOLDERS' FUNDS

1,370,961

1,339,736

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st May 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st May 2020 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31st May 2020 in accordance with Section 444(2A) of the Companies Act 2006.

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 and authorised for issue on 30th November 2020 and were signed on its behalf by:

Mrs S Taylor - Director

1.	STATUTORY INFORMATION

Discrete Time Communications (UK) 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.

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 each asset over its estimated useful life.

Plant and machinery etc

-

33% on reducing balance

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 4 (2019 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1st June 2019

1,094,752

Disposals

(3,844

)

At 31st May 2020

1,090,908

DEPRECIATION

At 1st June 2019

3,841

Eliminated on disposal

(3,841

)

At 31st May 2020

-

NET BOOK VALUE

At 31st May 2020

1,090,908

At 31st May 2019

1,090,911

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.5.20

31.5.19

value:

£

£

100

Ordinary

£1

98

100

6.

RESERVES

Capital

Retained

redemption

earnings

reserve

Totals

£

£

£

At 1st June 2019

1,339,636

-

1,339,636

Profit for the year

53,129

53,129

Purchase of own shares

(21,904

)

2

(21,902

)

At 31st May 2020

1,370,861

2

1,370,863

7.	PURCHASE OF OWN SHARES

During the year the company purchased its own ordinary shares to the value of £2.

In the opinion of the directors' this did not in anyway impact on the solvency of the company.

The balance sheet on page four shows a positive net asset position.