Communication and Technical Services Limited 31/03/2023 iXBRL

Communication and Technical Services Limited 31/03/2023 iXBRL

COMMUNICATION AND TECHNICAL SERVICES LIMITED - Company Information

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15 31/03/2023 2023-03-31 false false false false false false false false false false true false false true false false false false false true false No description of principal activities is disclosed 2022-04-01 Sage Accounts Production 21.0 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 01926779 2022-04-01 2023-03-31 01926779 2023-03-31 01926779 2022-03-31 01926779 2021-04-01 2022-03-31 01926779 2022-03-31 01926779 core:PlantMachinery 2022-04-01 2023-03-31 01926779 core:FurnitureFittingsToolsEquipment 2022-04-01 2023-03-31 01926779 core:MotorVehicles 2022-04-01 2023-03-31 01926779 core:OnerousContractsExcludingVacantProperties 2022-04-01 2023-03-31 01926779 bus:RegisteredOffice 2022-04-01 2023-03-31 01926779 bus:LeadAgentIfApplicable 2022-04-01 2023-03-31 01926779 bus:Director1 2022-04-01 2023-03-31 01926779 bus:Director2 2022-04-01 2023-03-31 01926779 bus:Director3 2022-04-01 2023-03-31 01926779 core:PlantMachinery 2022-03-31 01926779 core:PlantMachinery 2023-03-31 01926779 core:WithinOneYear 2023-03-31 01926779 core:WithinOneYear 2022-03-31 01926779 core:AfterOneYear 2023-03-31 01926779 core:AfterOneYear 2022-03-31 01926779 core:ShareCapital 2023-03-31 01926779 core:ShareCapital 2022-03-31 01926779 core:RetainedEarningsAccumulatedLosses 2023-03-31 01926779 core:RetainedEarningsAccumulatedLosses 2022-03-31 01926779 core:PlantMachinery 2022-03-31 01926779 bus:SmallEntities 2022-04-01 2023-03-31 01926779 bus:AuditExempt-NoAccountantsReport 2022-04-01 2023-03-31 01926779 bus:FullAccounts 2022-04-01 2023-03-31 01926779 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 01926779 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 01926779 core:LandBuildings core:OwnedOrFreeholdAssets 2022-04-01 2023-03-31
Company registration number: 01926779
Communication and Technical Services Limited
Unaudited filleted financial statements
31 March 2023
Communication and Technical Services Limited
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
Communication and Technical Services Limited
Directors and other information
Directors Mr Nusrat Rao
Mr Earl Clarke
Mr Derek Pearce
Company number 01926779
Registered office 17 Pages Walk
London
SE1 4SB
Accountants Capshire (UK) LLP
Castle Court
41 London Road
Reigate
RH2 9RJ
Communication and Technical Services Limited
Statement of financial position
31 March 2023
2023 2022
Note £ £ £ £
Fixed assets
Tangible assets 5 38,311 39,695
_______ _______
38,311 39,695
Current assets
Stocks 48,187 22,879
Debtors 6 77,726 115,698
Cash at bank and in hand 64,559 129,311
_______ _______
190,472 267,888
Creditors: amounts falling due
within one year 7 ( 96,981) ( 133,218)
_______ _______
Net current assets 93,491 134,670
_______ _______
Total assets less current liabilities 131,802 174,365
Creditors: amounts falling due
after more than one year 8 ( 35,382) ( 40,895)
_______ _______
Net assets 96,420 133,470
_______ _______
Capital and reserves
Called up share capital 50,000 50,000
Profit and loss account 46,420 83,470
_______ _______
Shareholders funds 96,420 133,470
_______ _______
For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 20 December 2023 , and are signed on behalf of the board by:
Mr Nusrat Rao
Director
Company registration number: 01926779
Communication and Technical Services Limited
Notes to the financial statements
Year ended 31 March 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 17 Pages Walk, London, SE1 4SB.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold property - in accordance with the property
Plant and machinery - 20 % reducing balance
Fittings fixtures and equipment - 25 % reducing balance
Motor vehicles - 25 % reducing balance
Hire equipment - 35 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 15 (2022: 15 ).
5. Tangible assets
Plant and machinery Total
£ £
Cost
At 1 April 2022 814,068 814,068
Additions 17,138 17,138
Disposals ( 29,939) ( 29,939)
_______ _______
At 31 March 2023 801,267 801,267
_______ _______
Depreciation
At 1 April 2022 774,373 774,373
Charge for the year 17,725 17,725
Disposals ( 29,142) ( 29,142)
_______ _______
At 31 March 2023 762,956 762,956
_______ _______
Carrying amount
At 31 March 2023 38,311 38,311
_______ _______
At 31 March 2022 39,695 39,695
_______ _______
6. Debtors
2023 2022
£ £
Trade debtors 61,406 89,862
Other debtors 16,320 25,836
_______ _______
77,726 115,698
_______ _______
7. Creditors: amounts falling due within one year
2023 2022
£ £
Bank loans and overdrafts 5,514 5,514
Trade creditors 49,769 87,664
Social security and other taxes 33,456 31,010
Other creditors 8,242 9,030
_______ _______
96,981 133,218
_______ _______
8. Creditors: amounts falling due after more than one year
2023 2022
£ £
Other creditors 35,382 40,895
_______ _______