01 Telecom Ltd - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 06862204 (England and Wales)

01 Telecom Ltd

Abbreviated Unaudited Accounts

for the Year Ended 31 March 2015

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

M G Lower

A Lower

C R Golland

SECRETARY:

M G Lower

REGISTERED OFFICE:

The Old Factory

30 - 31 Devonshire Place

Brighton

East Sussex

BN2 1QB

REGISTERED NUMBER:

06862204 (England and Wales)

ACCOUNTANTS:

M Goddard & Co

Chartered Accountants

69 Tupwood Lane

Caterham

Surrey

CR3 6DD

FIXED ASSETS

Intangible assets

2

233,998

-

Tangible assets

3

18,249

24,670

Investments

4

53

51

252,300

24,721

CURRENT ASSETS

Debtors

14,487

14,641

Cash in hand

217

659

14,704

15,300

CREDITORS

Amounts falling due within one year

202,782

60,573

NET CURRENT LIABILITIES

(188,078

)

(45,273

)

TOTAL ASSETS LESS CURRENT LIABILITIES

64,222

(20,552

)

CREDITORS

Amounts falling due after more than one year

55,117

42,607

NET ASSETS/(LIABILITIES)

9,105

(63,159

)

CAPITAL AND RESERVES

Called up share capital

5

200

2

Profit and loss account

8,905

(63,161

)

SHAREHOLDERS' FUNDS

9,105

(63,159

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2015 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 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 Board of Directors on 31 July 2015 and were signed on its behalf by:

M G Lower - 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 the value of equipment installed and rented and equipment sold to customers on finance and

operating leases, net of Vat.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2015, is being amortised evenly over its estimated useful life of ten years.

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 cost and 20% on cost

Deferred tax

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

sheet date.

Consolidated accounts

The company is exempt from preparing consolidated financial statements on the grounds that, taken with its

subsidiaries, it qualifies as a small group under S398 of the Companies Act 2006. These financial statements

therefore present information about the company as an individual undertaking and not about its group.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

Hived up

239,998

At 31 March 2015

239,998

AMORTISATION

Amortisation for year

6,000

At 31 March 2015

6,000

NET BOOK VALUE

At 31 March 2015

233,998

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2014

43,742

Additions

7,961

At 31 March 2015

51,703

DEPRECIATION

At 1 April 2014

19,072

Charge for year

14,382

At 31 March 2015

33,454

NET BOOK VALUE

At 31 March 2015

18,249

At 31 March 2014

24,670

4.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 April 2014

51

Additions

240,000

Disposals

(239,998

)

At 31 March 2015

53

NET BOOK VALUE

At 31 March 2015

53

At 31 March 2014

51

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Zenhound Limited

Nature of business: Communications and consultancy

%

Class of shares:

holding

Ordinary

100.00

31.3.15

31.3.14

£

£

Aggregate capital and reserves

(1,529

)

146,237

Profit for the year

21,100

32,609

The entire share capital of Zenhound Limited was purchased on 1st July 2014. The cost of this acquisition was

£240,000. The company has now hived up the businss of Zenhound Limited and its subsidiary and associate

company and has shown the entire cost as goodwill arising on acquisition.

01 Telecom (London) Limited

Nature of business: Telecommunications

%

Class of shares:

holding

Ordinary

100.00

31.3.15

31.3.14

£

£

Aggregate capital and reserves

6,562

26,648

(Loss)/profit for the year

(20,086

)

33,009

During the year the remaining 49% of the shares in this company were acquired when the company purchased

Zenhound Limited.

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.15

31.3.14

value:

£

£

200

Ordinary

£1

200

2

198 Ordinary shares of £1 each were allotted and fully paid for cash at par during the year.