Contact One Limited - Accounts to registrar (filleted) - small 23.2

REGISTERED NUMBER: 03577259 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2022

for

Contact One Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

D A Riley

D L Riley

SECRETARY:

REGISTERED OFFICE:

43B Princes Crescent

BARE

Morcambe

Lancashire

LA4 6BY

REGISTERED NUMBER:

03577259 (England and Wales)

ACCOUNTANTS:

Triton Accountancy Services Ltd

The Office

35 Townfields

Ashton in Makerfield

Wigan

WN4 9LJ

FIXED ASSETS

Tangible assets

4

35,345

45,409

CURRENT ASSETS

Stocks

5

56,500

50,000

Debtors

6

1,017,113

218,448

Cash at bank and in hand

1,132,071

627,217

2,205,684

895,665

CREDITORS

Amounts falling due within one year

7

1,296,932

481,312

NET CURRENT ASSETS

908,752

414,353

TOTAL ASSETS LESS CURRENT LIABILITIES

944,097

459,762

CREDITORS

Amounts falling due after more than one year

8

-

(5,146

)

PROVISIONS FOR LIABILITIES

(8,836

)

(1,904

)

NET ASSETS

935,261

452,712

CAPITAL AND RESERVES

Called up share capital

3

3

Retained earnings

935,258

452,709

935,261

452,712

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 5 April 2023 and were signed on its behalf by:

D A Riley - Director

1.	STATUTORY INFORMATION

Contact One 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

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.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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

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 15 (2021 - 14 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 January 2022

35,267

2,348

83,400

23,095

144,110

Additions

-

-

-

2,472

2,472

At 31 December 2022

35,267

2,348

83,400

25,567

146,582

DEPRECIATION

At 1 January 2022

28,464

2,286

45,929

22,022

98,701

Charge for year

1,361

9

9,368

1,798

12,536

At 31 December 2022

29,825

2,295

55,297

23,820

111,237

NET BOOK VALUE

At 31 December 2022

5,442

53

28,103

1,747

35,345

At 31 December 2021

6,803

62

37,471

1,073

45,409

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 January 2022

and 31 December 2022

63,153

DEPRECIATION

At 1 January 2022

and 31 December 2022

39,900

NET BOOK VALUE

At 31 December 2022

23,253

At 31 December 2021

23,253

5.

STOCKS

31.12.22

31.12.21

£

£

Work-in-progress

56,500

50,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.22

31.12.21

£

£

Trade debtors

987,088

192,771

Amounts owed by group undertakings

12,174

7,826

Other debtors

17,851

17,851

1,017,113

218,448

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.22

31.12.21

£

£

Hire purchase contracts

6,478

9,199

Trade creditors

787,826

204,456

Amounts owed to group undertakings

-

100,000

Taxation and social security

458,530

131,287

Other creditors

44,098

36,370

1,296,932

481,312

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.22

31.12.21

£

£

Hire purchase contracts

-

5,146