Sure Communication (sur.co.uk) Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 04189399 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

SURE COMMUNICATION (SUR.CO.UK) LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

Mr David P. Morgan

Mr Andrew J. Speed

Mrs Louisa Morgan

Mr Alexander J. Colburn

SECRETARY:

Mrs Louisa Morgan

REGISTERED OFFICE:

3 Jesse Terrace

Reading

Berkshire

RG1 7RS

REGISTERED NUMBER:

04189399 (England and Wales)

ACCOUNTANTS:

Malcolm J. Greer FCCA, ATT

Chartered Certified Accountant

3 Jesse Terrace

Reading

Berkshire

RG1 7RS

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

8,566

5,848

Investments

6

250

250

8,816

6,098

CURRENT ASSETS

Debtors

7

64,010

64,342

Cash at bank

101,762

100,109

165,772

164,451

CREDITORS

Amounts falling due within one year

8

71,146

36,457

NET CURRENT ASSETS

94,626

127,994

TOTAL ASSETS LESS CURRENT LIABILITIES

103,442

134,092

CREDITORS

Amounts falling due after more than one year

9

(22,438

)

(32,383

)

PROVISIONS FOR LIABILITIES

11

(1,078

)

(465

)

NET ASSETS

79,926

101,244

CAPITAL AND RESERVES

Called up share capital

12

105

105

Retained earnings

79,821

101,139

SHAREHOLDERS' FUNDS

79,926

101,244

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 October 2023 and were signed on its behalf by:

Mr David P. Morgan - Director

1.	STATUTORY INFORMATION

Sure Communication (sur.co.uk) 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of three 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 each asset over its estimated useful life.

Improvements to property

-

10% on cost

Office furniture & equipment

-

33% on cost

Financial instruments

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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

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.

Research and development

Expenditure on research and development is written off in the year in which it is incurred. At the year end, a claim for enhanced relief against the Company's Corporation Tax liability was made in respect of research and development costs incurred on the ongoing Customer Relationship Management (CRM) project during the year ended 31st March 2023. These costs totalled £0 (2022 - £50,278) before enhancement and are included within the Company's overheads, although they are not detailed separately on the face of the Trading and Profit and Loss Account.

Hire purchase and leasing commitments

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

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 5 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2022

and 31 March 2023

32,000

AMORTISATION

At 1 April 2022

and 31 March 2023

32,000

NET BOOK VALUE

At 31 March 2023

-

At 31 March 2022

-

5.	TANGIBLE FIXED ASSETS

Improvements

Office

to

furniture

property

& equipment

Totals

£

£

£

COST

At 1 April 2022

3,570

35,083

38,653

Additions

-

5,314

5,314

At 31 March 2023

3,570

40,397

43,967

DEPRECIATION

At 1 April 2022

565

32,240

32,805

Charge for year

357

2,239

2,596

At 31 March 2023

922

34,479

35,401

NET BOOK VALUE

At 31 March 2023

2,648

5,918

8,566

At 31 March 2022

3,005

2,843

5,848

6.	FIXED ASSET INVESTMENTS

Unlisted

investments

£

COST

At 1 April 2022

and 31 March 2023

250

NET BOOK VALUE

At 31 March 2023

250

At 31 March 2022

250

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.3.22

£

£

Trade debtors

63,881

54,537

Net wages debtor

129

105

Directors' current accounts

-

8,682

Corporation tax recoverable

-

1,018

64,010

64,342

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.3.22

£

£

Bank loans and overdrafts

9,944

9,685

Trade creditors

5,213

7,553

Corporation tax

6,060

-

PAYE and social security

345

1,449

VAT

8,609

8,749

Directors' current accounts

38,905

7,063

Accruals and deferred income

2,070

1,958

71,146

36,457

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.23

31.3.22

£

£

Bank loans - 1-2 years

10,204

9,944

Bank loans - 2-5 years

12,234

22,439

22,438

32,383

10.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.3.23

31.3.22

£

£

Within one year

-

778

11.	PROVISIONS FOR LIABILITIES

31.3.23

31.3.22

£

£

Deferred tax - Accelerated Capital Allowances

1,078

465

Deferred

tax

£

Balance at 1 April 2022

465

Provided during year

613

Balance at 31 March 2023

1,078

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.23

31.3.22

value:

£

£

105

Ordinary shares classes A - D

£1

105

105

The total share capital of the Company is sub divided into ten separate classes of ordinary share labelled A to J inclusive, each class containing an authorised share capital of 100,000 shares.

The shares have the same rights and restrictions and rank pari passu in all respects save that as regards voting, share classes F to J inclusive shall not be entitled to vote at any general meeting of the Company and as regards income. shares classes A to J inclusive shall be entitled to payments of varying amounts of dividends at the discretion of the directors, as declared by the Company from time to time.

13.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2023 and 31 March 2022:

31.3.23

31.3.22

£

£

Mr David P. Morgan

Balance outstanding at start of year

1,057

-

Amounts advanced

-

1,057

Amounts repaid

(1,057

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

1,057

Mrs Louisa Morgan

Balance outstanding at start of year

7,625

-

Amounts advanced

-

7,625

Amounts repaid

(7,625

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

7,625

The advances were provided interest free.

14.	ULTIMATE CONTROLLING PARTY

The controlling party is Mr David P. Morgan.

The ultimate controlling party is Mr David P. Morgan.