ACCOUNTS - Final Accounts

CAMBRIDGE WIRELESS LIMITED - Company Information

Caseware UK (AP4) 2022.0.179 2022.0.179 2022-09-302022-09-302021-10-01falsepromoting Cambridge as centre of excellence for wireless technologies expertise by bringing together a wide range of member companies from inside and outside the region who share this objective.99falsetrue 06529916 2021-10-01 2022-09-30 06529916 2020-10-01 2021-09-30 06529916 2022-09-30 06529916 2021-09-30 06529916 c:Director3 2021-10-01 2022-09-30 06529916 d:OfficeEquipment 2021-10-01 2022-09-30 06529916 d:OfficeEquipment 2022-09-30 06529916 d:OfficeEquipment 2021-09-30 06529916 d:OfficeEquipment d:OwnedOrFreeholdAssets 2021-10-01 2022-09-30 06529916 d:CurrentFinancialInstruments 2022-09-30 06529916 d:CurrentFinancialInstruments 2021-09-30 06529916 d:CurrentFinancialInstruments d:WithinOneYear 2022-09-30 06529916 d:CurrentFinancialInstruments d:WithinOneYear 2021-09-30 06529916 d:OtherMiscellaneousReserve 2022-09-30 06529916 d:OtherMiscellaneousReserve 2021-09-30 06529916 d:RetainedEarningsAccumulatedLosses 2022-09-30 06529916 d:RetainedEarningsAccumulatedLosses 2021-09-30 06529916 c:FRS102 2021-10-01 2022-09-30 06529916 c:Audited 2021-10-01 2022-09-30 06529916 c:FullAccounts 2021-10-01 2022-09-30 06529916 c:CompanyLimitedByGuarantee 2021-10-01 2022-09-30 06529916 c:SmallCompaniesRegimeForAccounts 2021-10-01 2022-09-30 iso4217:GBP xbrli:pure

Registered number: 06529916

CAMBRIDGE WIRELESS LIMITED

(A Company Limited by Guarantee)

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 SEPTEMBER 2022

CAMBRIDGE WIRELESS LIMITED

(A Company Limited by Guarantee)

REGISTERED NUMBER: 06529916

BALANCE SHEET

AS AT 30 SEPTEMBER 2022

		2022		2021
Note		£		£

FIXED ASSETS
Tangible assets	4		7,554		5,867
			7,554		5,867
CURRENT ASSETS
Debtors: amounts falling due within one year	5	783,333		601,557
Current asset investments	6	11,540		11,454
Cash at bank and in hand		450,320		220,986
		1,245,193		833,997
Creditors: amounts falling due within one year	7	(985,744)		(575,018)
NET CURRENT ASSETS			259,449		258,979
NET ASSETS			267,003		264,846

CAPITAL AND RESERVES
Other reserves	14,375	14,375
Profit and loss account	252,628	250,471
	267,003	264,846

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

C F Bruce

Director

Date: 2 June 2023

The notes on pages 2 to 6 form part of these financial statements.

Page 1

CAMBRIDGE WIRELESS LIMITED

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2022

1.	GENERAL INFORMATION

Cambridge Wireless Limited is a private company limited by guarantee incorporated in England and Wales. Its registered office is The Bradfield Centre, 184 Cambridge Science Park, Milton Road, CB4 0GA.

2.ACCOUNTING POLICIES

2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

GOING CONCERN

The directors have prepared budgets and cash flow forecasts up until 30 September 2024, taking into account a range of outcomes. The directors have a reasonable expectation that the Company will continue in operational existence and have sufficient resources to meet its liabilities as they fall due for the foreseeable future. They therefore continue to adopt the going concern basis in preparing these financial statements.

2.3

FOREIGN CURRENCY TRANSLATION

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

2.4

REVENUE

Turnover comprises revenue recognised by the company in respect of membership fees receivable, exclusive of Value Added Tax.
The relevant proportion of any membership subscriptions entered into for a twelve month period, which fall into the following financial period, have been carried forward on the balance sheet as deferred income.
Project income is recognised as the risks and rewards of the project are passed based on the milestones achieved together with associated costs for project recognised in the same period.

Page 2

CAMBRIDGE WIRELESS LIMITED

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2022

2.ACCOUNTING POLICIES (CONTINUED)

2.5

OPERATING LEASES

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

2.6

GOVERNMENT GRANTS

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Profit and Loss Account in the same period as the related expenditure.

2.7

PENSIONS

DEFINED CONTRIBUTION PENSION PLAN

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

2.8

TAXATION

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

2.9

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 3

CAMBRIDGE WIRELESS LIMITED

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2022

2.ACCOUNTING POLICIES (CONTINUED)

2.9

TANGIBLE FIXED ASSETS (CONTINUED)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment

25% to 33%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.10

DEBTORS

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.11

CASH AND CASH EQUIVALENTS

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.12

CREDITORS

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

EMPLOYEES

The average monthly number of employees, including directors, during the year was 9 (2021 - 9).

Page 4

CAMBRIDGE WIRELESS LIMITED

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2022

4.	TANGIBLE FIXED ASSETS

		Office equipment
		£
	COST OR VALUATION
	At 1 October 2021	79,391
	Additions	4,794
	Disposals	(490)
	At 30 September 2022	83,695
	DEPRECIATION
	At 1 October 2021	73,524
	Charge for the year on owned assets	3,107
	Disposals	(490)
	At 30 September 2022	76,141
	NET BOOK VALUE
	At 30 September 2022	7,554
	At 30 September 2021	5,867

DEBTORS

					2022	2021
					£	£


Trade debtors	340,423	290,479
Other debtors	250,938	5,330
Prepayments and accrued income	191,972	305,748
	783,333	601,557

Page 5

CAMBRIDGE WIRELESS LIMITED

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2022

6.	CURRENT ASSET INVESTMENTS
		2022	2021
		£	£

	Unlisted investments	11,540	11,454

7.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
		2022	2021
		£	£

Trade creditors	297,283	37,213
Other taxation and social security	9,047	26,873
Other creditors	4,124	5,689
Accruals and deferred income	675,290	505,243
	985,744	575,018

Other creditors include contributions of £NIL (2021 - £2,470) payable to the Company's defined contribution pension scheme at the balance sheet date.


8.	COMPANY STATUS

The company is a private company limited by guarantee and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.

9.	AUDITORS' INFORMATION

The auditors' report on the financial statements for the year ended 30 September 2022 was unqualified.

The audit report was signed on 20 June 2023 by Michael Hewett (Senior Statutory Auditor) on behalf of Peters Elworthy & Moore.

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