Airphone Telecom Solutions Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07550295 (England and Wales)

AIRPHONE TELECOM SOLUTIONS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2020

Page

Company Information

1

Statement of Financial Position

2

to

3

Notes to the Financial Statements

4

to

6

DIRECTORS:

Mrs R E Forde

Mr J J Forde

REGISTERED OFFICE:

The Forde Building

Number One Forder Way

The Hamptons

Peterborough

Cambridgeshire

PE7 8GX

REGISTERED NUMBER:

07550295 (England and Wales)

ACCOUNTANTS:

Duncan & Toplis Limited

Enterprise Way

Pinchbeck

Spalding

Lincolnshire

PE11 3YR

FIXED ASSETS

Property, plant and equipment

4

2,512

1,306

CURRENT ASSETS

Inventories

1,398

2,336

Debtors

5

53,797

58,849

Cash at bank and in hand

28,817

14,478

84,012

75,663

CREDITORS

Amounts falling due within one year

6

115,053

122,364

NET CURRENT LIABILITIES

(31,041

)

(46,701

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(28,529

)

(45,395

)

CREDITORS

Amounts falling due after more than one year

7

45,000

-

NET LIABILITIES

(73,529

)

(45,395

)

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

(73,629

)

(45,495

)

SHAREHOLDERS' FUNDS

(73,529

)

(45,395

)

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

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

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 30 September 2021 and were signed on its behalf by:

Mr J J Forde - Director

1.	STATUTORY INFORMATION

Airphone Telecom Solutions 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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 amounts charged to customers for goods and airtime provided during the period, excluding value added tax and trade discounts. Sales are recognised upon delivery to the customer, or upon collection by the customer.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Office & computer equipment - straight line over 3 years & 25% on reducing balance.

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Costs includes costs directly attributable to making the asset capable of operating as intended.

Government grants

During the year the company received funding from the government under the Coronavirus Job Retention

Scheme (CJRS). The purpose of this grant is to help cover the costs of staff that are unable to work due to the coronavirus pandemic.

During the year the company received funding from the government under the Bounce Back Loans Scheme

(BBLS). The purpose of this scheme is to help small and medium sized businesses access finance during the

coronavirus pandemic. As part of the scheme the government acts as guarantor for the loan and pays the first year's interest and fees.

Stocks

Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell and after making due allowance for obsolete and slow moving items

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 statement of financial position date.

Going concern

The company balance sheet shows net liabilities of £73,529 (2019: £45,395). The directors are aware of the situation and believe that it is appropriate to prepare the financial statements on a going concern basis as the company continues to trade profitably.

In common with many other organisations, the business operations have also been impacted by the coronavirus outbreak. The full impact of Covid-19 remains uncertain and continues to develop on a daily basis. Therefore the director is monitoring the exposure to the company's trade and is referring to government and professional advice being published so that action can be considered which may help minimise the impact of this risk. The director is confident that the company is in a position to manage the situation and possible outcomes, while working to mitigate the risk where possible. For this reason the director believes that the going concern basis is appropriate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2019 - 8 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Plant and

machinery

etc

£

COST

At 1 January 2020

17,066

Additions

2,088

At 31 December 2020

19,154

DEPRECIATION

At 1 January 2020

15,760

Charge for year

882

At 31 December 2020

16,642

NET BOOK VALUE

At 31 December 2020

2,512

At 31 December 2019

1,306

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

12,951

6,715

Other debtors

40,846

52,134

53,797

58,849

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Bank loans and overdrafts

4,386

-

Trade creditors

64,063

46,617

Taxation and social security

22,952

26,803

Other creditors

23,652

48,944

115,053

122,364

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2020

2019

£

£

Bank loans

45,000

-

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

5,000

-

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2020

2019

value:

£

£

100

Ordinary

£1

100

100