TWL Voice & Data Limited - Limited company - abbreviated - 11.0.0

REGISTERED NUMBER: 04914909 (England and Wales)

TWL VOICE & DATA LIMITED

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 OCTOBER 2013

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTOR:

A M Nicholson

SECRETARY:

REGISTERED OFFICE:

Technology House

P3 Capital Business Park

Capital Point

Cardiff

CF3 2PU

REGISTERED NUMBER:

04914909 (England and Wales)

ACCOUNTANTS:

O'Brien & Partners

Chartered Accountants

Highdale House

7 Centre Court, Main Avenue

Treforest Industrial Estate

Pontypridd

Rhondda Cynon Taff

CF37 5YR

FIXED ASSETS

Intangible assets

2

18,378

45,638

Tangible assets

3

90,926

117,279

109,304

162,917

CURRENT ASSETS

Stocks

7,652

6,402

Debtors

4

373,330

335,630

Cash at bank and in hand

75,630

98,398

456,612

440,430

CREDITORS

Amounts falling due within one year

5

(321,475

)

(328,819

)

NET CURRENT ASSETS

135,137

111,611

TOTAL ASSETS LESS CURRENT LIABILITIES

244,441

274,528

CREDITORS

Amounts falling due after more than one year

5

(77,998

)

(111,477

)

PROVISIONS FOR LIABILITIES

(4,503

)

(7,034

)

NET ASSETS

161,940

156,017

CAPITAL AND RESERVES

Called up share capital

6

2

2

Profit and loss account

161,938

156,015

SHAREHOLDERS' FUNDS

161,940

156,017

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2013.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2013 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 21 July 2014 and were signed by:

A M Nicholson - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax, except in respect of service contracts

where turnover is recognised when the company obtains the right to consideration.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of ten years.

Other intangible assets

Intangible assets relate to the acquisition in previous periods of the economic risks and rewards of two separate

third party customer bases. These assets are being amortised over their expected useful lives of two years and

five year respectively.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off 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 and 25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Deferred tax

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

sheet date.

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 the profit and loss account over the relevant period. The

capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account 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. The assets of the scheme are held separately from

those of the company in an independently administered fund. The pension cost charge represents contributions

payable by the company to the fund and amounted to £3,618 (2012 - £3,445).

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 November 2012

and 31 October 2013

86,518

AMORTISATION

At 1 November 2012

40,880

Amortisation for year

27,260

At 31 October 2013

68,140

NET BOOK VALUE

At 31 October 2013

18,378

At 31 October 2012

45,638

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 November 2012

161,213

Additions

8,096

At 31 October 2013

169,309

DEPRECIATION

At 1 November 2012

43,934

Charge for year

34,449

At 31 October 2013

78,383

NET BOOK VALUE

At 31 October 2013

90,926

At 31 October 2012

117,279

4.

DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

The aggregate total of debtors falling due after more than one year is £ 77,833 (31.10.12 - £ 76,770 )

5.

CREDITORS

Creditors include an amount of £ 105,654 (31.10.12 - £ 138,957 ) for which security has been given.

6.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.10.13

31.10.12

value:

£

£

1

A Ordinary

£1

1

1

1

B Ordinary

£1

1

1

2

2

During the year the existing 2 Ordinary shares were reclassified into 1 A Ordinary share and 1 B Ordinary share.

7.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 October 2013 and

31 October 2012:

31.10.13

31.10.12

£

£

A M Nicholson

Balance outstanding at start of year

22,550

12,908

Amounts advanced

64,594

40,642

Amounts repaid

(35,000

)

(31,000

)

Balance outstanding at end of year

52,144

22,550

Dividends of £30,500 were paid to the director Mr A M Nicholson during the year.