01 Telecom Ltd - Abbreviated accounts 16.1

REGISTERED NUMBER: 06862204 (England and Wales)

01 Telecom Ltd

Abbreviated Unaudited Accounts

for the Year Ended 31 March 2016

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

M G Lower

A Lower

C R Golland

SECRETARY:

M G Lower

REGISTERED OFFICE:

The Old Factory

30 - 31 Devonshire Place

Brighton

East Sussex

BN2 1QB

REGISTERED NUMBER:

06862204 (England and Wales)

ACCOUNTANTS:

M Goddard & Co

Chartered Accountants

69 Tupwood Lane

Caterham

Surrey

CR3 6DD

FIXED ASSETS

Intangible assets

2

209,998

233,998

Tangible assets

3

15,653

18,249

Investments

4

-

53

225,651

252,300

CURRENT ASSETS

Debtors

16,957

14,487

Cash in hand

11

217

16,968

14,704

CREDITORS

Amounts falling due within one year

149,342

202,782

NET CURRENT LIABILITIES

(132,374

)

(188,078

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

93,277

64,222

CREDITORS

Amounts falling due after more than one
year

(14,803

)

(55,117

)

PROVISIONS FOR LIABILITIES

(3,131

)

-

NET ASSETS

75,343

9,105

CAPITAL AND RESERVES

Called up share capital

5

200

Profit and loss account

75,143

8,905

SHAREHOLDERS' FUNDS

75,343

9,105

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2016 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 26 July 2016 and were signed on its behalf by:

M G Lower - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover

Turnover represents the value of equipment installed and rented and equipment sold to customers on finance and

operating leases, net of Vat.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of three companies on 1st July 2014, is being

amortised evenly over its estimated useful life of ten years from 1st January 2015 when these companies were

amalgamated into 01 Telecom Ltd.

Tangible fixed assets

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

Plant and machinery etc

-

33% on cost and 20% on cost

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Consolidated accounts

The company is exempt from preparing consolidated financial statements on the grounds that, taken with its

subsidiaries, it qualifies as a small group under S398 of the Companies Act 2006. These financial statements

therefore present information about the company as an individual undertaking and not about its group.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

and 31 March 2016

239,998

AMORTISATION

At 1 April 2015

6,000

Amortisation for year

24,000

At 31 March 2016

30,000

NET BOOK VALUE

At 31 March 2016

209,998

At 31 March 2015

233,998

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2015

51,703

Additions

15,098

At 31 March 2016

66,801

DEPRECIATION

At 1 April 2015

33,454

Charge for year

17,694

At 31 March 2016

51,148

NET BOOK VALUE

At 31 March 2016

15,653

At 31 March 2015

18,249

4.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1 April 2015

53

Disposals

(53

)

At 31 March 2016

-

NET BOOK VALUE

At 31 March 2016

-

At 31 March 2015

53

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.16

31.3.15

value:

£

200

Ordinary

£1

200