Data Cable Solutions Limited - Period Ending 2020-05-31

Data Cable Solutions Limited

Contents

Statement of Financial Position	1
Notes to the Unaudited Financial Statements	2 to 4

Data Cable Solutions Limited

(Registration number: 10207095)
Statement of Financial Position as at 31 May 2020

	Note	2020 £	2019 £
Fixed assets
Tangible assets	4	281	375
Current assets
Debtors	5	959	2,015
Cash at bank and in hand		250	396
		1,209	2,411
Creditors: Amounts falling due within one year	6	(2,938)	(2,665)
Net current liabilities		(1,729)	(254)
Net (liabilities)/assets		(1,448)	121
Capital and reserves
Called up share capital		100	100
Profit and loss account		(1,548)	21
Shareholders' (deficit)/funds		(1,448)	121

For the financial year ending 31 May 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Income Statement has been taken.

Approved and authorised by the Board on 25 May 2021 and signed on its behalf by:
 

.........................................

Mr S R Dobson
Director

Data Cable Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2020

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit G, Canalside
John Gilbert Way
Trafford Park
Manchester
Lancashire
M17 1AH
United Kingdom

These financial statements were authorised for issue by the Board on 25 May 2021.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

At the balance sheet date, the company's liabilities exceeded its assets. The compnay has received assurances from the directors that they will continue to give financial support to the company for the foreseeable future and for a period not less than 12 monhts from the date of signing these financial statements.

On this basis, the directors consider it appropriate to prepare the accounts on the going concern basis. however, should the financial support mentioned above not be forthcoming the going concern basis used in preparing the company's accounts may be invalid and adjustments would have to be made to reduce the value of assets to their realisable amount and provide for any further liabilities which might arise. The accounts do not include any adjustment to the company's assets or liabilities that might be necessary should this basis not continue to be appropriate.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Data Cable Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2020

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Computer equipment	25% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2019 - 2).

Data Cable Solutions Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2020

4	Tangible assets

	Office equipment £	Total £
Cost or valuation
At 1 June 2019	1,000	1,000
At 31 May 2020	1,000	1,000
Depreciation
At 1 June 2019	625	625
Charge for the year	94	94
At 31 May 2020	719	719
Carrying amount
At 31 May 2020	281	281
At 31 May 2019	375	375

5

Debtors

	2020 £	2019 £
Trade debtors	-	955
Other debtors	959	1,060
	959	2,015

6

Creditors

Creditors: amounts falling due within one year

	2020 £	2019 £
Due within one year
Taxation and social security	1,641	1,641
Accruals and deferred income	-	550
Other creditors	1,297	474
	2,938	2,665