Owen Communications Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01945200 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2021

for

Owen Communications Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

R O Roberts

REGISTERED OFFICE:

Longcroft Barn

Priors Leaze Lane

Nutbourne

Chichester

West Sussex

PO18 8RH

REGISTERED NUMBER:

01945200 (England and Wales)

ACCOUNTANTS:

Hughes Spencer

12 Acorn Business Park

Northarbour Road

Portsmouth

Hampshire

PO6 3TH

FIXED ASSETS

Intangible assets

4

12,300

14,350

Tangible assets

5

7,106

8,882

Investments

6

100

100

19,506

23,332

CURRENT ASSETS

Stocks

35,994

33,000

Debtors

7

87,986

173,054

Cash at bank and in hand

133,966

4,479

257,946

210,533

CREDITORS

Amounts falling due within one year

8

222,364

411,342

NET CURRENT ASSETS/(LIABILITIES)

35,582

(200,809

)

TOTAL ASSETS LESS CURRENT LIABILITIES

55,088

(177,477

)

CAPITAL AND RESERVES

Called up share capital

1,002

1,002

Retained earnings

54,086

(178,479

)

SHAREHOLDERS' FUNDS

55,088

(177,477

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 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 applicable to companies subject to the small companies regime.

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 and authorised for issue on 21 June 2022 and were signed by:

R O Roberts - Director

A Biggs - Director

S M Sponder - Director

D P Mattingley - Director

1.	STATUTORY INFORMATION

Owen Communications 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 represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due. Where a contract has only been partially completed at the balance sheet date turnover represents the value of the service provided to date based on a proportion of the total expected consideration on completion.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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.

Computer equipment

-

20% 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2020 - 4 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2021

and 31 December 2021

41,000

AMORTISATION

At 1 January 2021

26,650

Charge for year

2,050

At 31 December 2021

28,700

NET BOOK VALUE

At 31 December 2021

12,300

At 31 December 2020

14,350

5.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 January 2021

and 31 December 2021

18,883

DEPRECIATION

At 1 January 2021

10,001

Charge for year

1,776

At 31 December 2021

11,777

NET BOOK VALUE

At 31 December 2021

7,106

At 31 December 2020

8,882

6.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 January 2021

and 31 December 2021

100

NET BOOK VALUE

At 31 December 2021

100

At 31 December 2020

100

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

21,882

95,682

Other debtors

66,104

77,372

87,986

173,054

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Bank loans and overdrafts

-

50,000

Trade creditors

12,254

68,628

Taxation and social security

54,586

33,095

Other creditors

155,524

259,619

222,364

411,342

9.	RELATED PARTY DISCLOSURES

There were loans outstanding at the year end from Owen Health Marketing Limited of £64,924 (2020 £26,480) and Owen Group International Limited of £712 (2020 £400). These are shown separately under debtors.

There were loans outstanding at the year end to Owen Advertising Limited of nil (2020 £16,000), Major Tom Branding Limited of £2,406 (2020 £16,406) and Roy Owen Roberts Limited of £140,143 (2020 £225,643). These are shown separately under creditors.

10.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Owen Group International Limited.