Owen Communications Limited - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 01945200 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2022

for

Owen Communications Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

R O Roberts

A Biggs

S M Sponder

D P Mattingley

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

10,250

12,300

Tangible assets

5

23,847

7,106

Investments

6

100

100

34,197

19,506

CURRENT ASSETS

Stocks

-

35,994

Debtors

7

244,394

87,986

Cash at bank and in hand

938

133,966

245,332

257,946

CREDITORS

Amounts falling due within one year

8

110,650

222,364

NET CURRENT ASSETS

134,682

35,582

TOTAL ASSETS LESS CURRENT LIABILITIES

168,879

55,088

PROVISIONS FOR LIABILITIES

4,107

-

NET ASSETS

164,772

55,088

CAPITAL AND RESERVES

Called up share capital

1,002

1,002

Retained earnings

163,770

54,086

SHAREHOLDERS' FUNDS

164,772

55,088

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 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 4 May 2023 and were signed on its behalf 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2021 - 6 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2022

and 31 December 2022

41,000

AMORTISATION

At 1 January 2022

28,700

Charge for year

2,050

At 31 December 2022

30,750

NET BOOK VALUE

At 31 December 2022

10,250

At 31 December 2021

12,300

5.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 January 2022

18,883

Additions

18,470

At 31 December 2022

37,353

DEPRECIATION

At 1 January 2022

11,777

Charge for year

1,729

At 31 December 2022

13,506

NET BOOK VALUE

At 31 December 2022

23,847

At 31 December 2021

7,106

6.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 January 2022

and 31 December 2022

100

NET BOOK VALUE

At 31 December 2022

100

At 31 December 2021

100

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

88,462

21,882

Other debtors

155,932

66,104

244,394

87,986

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Bank loans and overdrafts

46,130

-

Trade creditors

8,564

12,254

Taxation and social security

51,800

54,586

Other creditors

4,156

155,524

110,650

222,364

9.	RELATED PARTY DISCLOSURES

There were loans outstanding at the year end from Owen Health Marketing Limited of £154,924 (2021 £64,924) and Owen Group International Limited of £712 (2021 £712). These are shown separately under debtors.

There were loans outstanding at the year end to Major Tom Branding Limited of £2,406 (2021 £2,406) and Roy Owen Roberts Limited of £nil (2021 £140,143). These are shown separately under creditors.

10.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Owen Group International Limited.