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

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

OWEN COMMUNICATIONS LIMITED - Company Information

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REGISTERED NUMBER: 01945200 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 December 2020

for

Owen Communications Limited
Owen Communications Limited (Registered number: 01945200)






Contents of the Financial Statements
for the Year Ended 31 December 2020




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Owen Communications Limited

Company Information
for the Year Ended 31 December 2020







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
Page 1
Owen Communications Limited (Registered number: 01945200)

Balance Sheet
31 December 2020

2020 2019
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 14,350 16,400
Tangible assets 5 8,882 10,038
Investments 6 100 100
23,332 26,538

CURRENT ASSETS
Stocks 33,000 35,994
Debtors 7 173,054 151,760
Cash at bank and in hand 4,479 555
210,533 188,309
CREDITORS
Amounts falling due within one year 8 411,342 459,049
NET CURRENT LIABILITIES (200,809 ) (270,740 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
(177,477
)
(244,202
)

CAPITAL AND RESERVES
Called up share capital 1,002 1,002
Retained earnings (178,479 ) (245,204 )
SHAREHOLDERS' FUNDS (177,477 ) (244,202 )

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 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 notes form part of these financial statements

Page 2 continued...
Owen Communications Limited (Registered number: 01945200)

Balance Sheet - continued
31 December 2020


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 6 September 2021 and were signed by:





R O Roberts - Director


The notes form part of these financial statements

Page 3
Owen Communications Limited (Registered number: 01945200)

Notes to the Financial Statements
for the Year Ended 31 December 2020

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.

Page 4 continued...
Owen Communications Limited (Registered number: 01945200)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2020

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2019 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2020
and 31 December 2020 41,000
AMORTISATION
At 1 January 2020 24,600
Charge for year 2,050
At 31 December 2020 26,650
NET BOOK VALUE
At 31 December 2020 14,350
At 31 December 2019 16,400

5. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 January 2020 17,857
Additions 1,026
At 31 December 2020 18,883
DEPRECIATION
At 1 January 2020 7,819
Charge for year 2,182
At 31 December 2020 10,001
NET BOOK VALUE
At 31 December 2020 8,882
At 31 December 2019 10,038

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 January 2020
and 31 December 2020 100
NET BOOK VALUE
At 31 December 2020 100
At 31 December 2019 100

Page 5 continued...
Owen Communications Limited (Registered number: 01945200)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2020

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2020 2019
£    £   
Trade debtors 95,682 67,512
Other debtors 77,372 84,248
173,054 151,760

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2020 2019
£    £   
Bank loans and overdrafts 50,000 37,377
Trade creditors 68,628 60,986
Taxation and social security 33,095 15,324
Other creditors 259,619 345,362
411,342 459,049

9. RELATED PARTY DISCLOSURES

There were loans outstanding at the year end from Owen Health Marketing Limited of £26,480 (2019 £74,554) and Owen Group International Limited of £400 (2019 £400). These are shown separately under debtors.

There were loans outstanding at the year end to Owen Advertising Limited of £16,000 (2019 £36,272), Major Tom Branding Limited of £16,406 (2019 £16,406) and Roy Owen Roberts Limited of £225,643 (2019 £227,500). These are shown separately under creditors.

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Owen Group International Limited.

11. GOING CONCERN

The director has confirmed his continued support to the Company, and will ensure that the Company retains sufficient working capital to continue trading for the foreseeable future.

Page 6