Commercial Transmission Services Ltd. - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: SC088922 (Scotland)

Financial Statements For The Year Ended 30 June 2022

for

Commercial Transmission Services Ltd.

Page

Company Information

1

Abridged Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

G Dunn

Mrs M H Dunn

SECRETARY:

Mrs M H Dunn

REGISTERED OFFICE:

Richmond Place

Rutherglen

GLASGOW

G73 3AZ

REGISTERED NUMBER:

SC088922 (Scotland)

ACCOUNTANTS:

Robb Ferguson Chartered Accountants

Regent Court

70 West Regent Street

Glasgow

G2 2QZ

FIXED ASSETS

Tangible assets

4

91,885

85,452

CURRENT ASSETS

Stocks

5,719

5,719

Debtors

270,336

354,312

Cash at bank

172,007

216,587

448,062

576,618

CREDITORS

Amounts falling due within one year

272,093

333,397

NET CURRENT ASSETS

175,969

243,221

TOTAL ASSETS LESS CURRENT LIABILITIES

267,854

328,673

CREDITORS

Amounts falling due after more than one year

5

(37,099

)

(43,700

)

PROVISIONS FOR LIABILITIES

(13,109

)

(14,825

)

NET ASSETS

217,646

270,148

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

217,546

270,048

SHAREHOLDERS' FUNDS

217,646

270,148

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

All the members have consented to the preparation of an abridged Statement of Comprehensive Income and an abridged Statement of Financial Position for the year ended 30 June 2022 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 June 2023 and were signed on its behalf by:

Mrs M H Dunn - Director

1.	STATUTORY INFORMATION

Commercial Transmission Services Ltd. is a private company, limited by shares , registered in Scotland. 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 is stated net of VAT and trade discounts. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer. Turnover from the supply of services 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.

Tangible fixed assets

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

Freehold property

-

2% on reducing balance

Office equipment

-

20% on cost

Plant & machinery

-

10% on reducing balance

Fixtures and fittings

-

10% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

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.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 - 7 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 July 2021

192,700

Additions

24,782

Disposals

(11,250

)

At 30 June 2022

206,232

DEPRECIATION

At 1 July 2021

107,248

Charge for year

15,679

Eliminated on disposal

(8,580

)

At 30 June 2022

114,347

NET BOOK VALUE

At 30 June 2022

91,885

At 30 June 2021

85,452

5.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS

2022

2021

£

£

Repayable by instalments

Other loans more 5yrs instal

-

6,900