Airphone Telecom Solutions Limited - Accounts to registrar - small 17.1.1

REGISTERED NUMBER: 07550295 (England and Wales)

AIRPHONE TELECOM SOLUTIONS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2016

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

to

5

Chartered Accountants' Report

6

DIRECTOR:

Mrs R E Forde

REGISTERED OFFICE:

Number One Forder Way

Hampton

Peterborough

Cambridgeshire

PE7 8GX

REGISTERED NUMBER:

07550295 (England and Wales)

ACCOUNTANTS:

Duncan & Toplis Limited

Enterprise Way

Pinchbeck

Spalding

Lincolnshire

PE11 3YR

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

105

189

105

189

CURRENT ASSETS

Stocks

2,502

2,707

Debtors

6

60,931

61,513

Cash at bank

24,098

17,757

87,531

81,977

CREDITORS

Amounts falling due within one year

7

218,032

214,051

NET CURRENT LIABILITIES

(130,501

)

(132,074

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(130,396

)

(131,885

)

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

10

(130,496

)

(131,985

)

SHAREHOLDERS' FUNDS

(130,396

)

(131,885

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2016 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 of Part 15 of the Companies Act 2006 relating to small companies.

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

The financial statements were approved by the director on 23 May 2017 and were signed by:

Mrs R E Forde - Director

1.	STATUTORY INFORMATION

Airphone Telecom Solutions 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents amounts charged to customers for goods and airtime provided during the period, excluding value

added tax and trade discounts. Sales are recognised upon delivery to the customer, or upon collection by the customer.

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.

Office & computer equipment - straight line over 3 years.

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

The company has adopted Sections 11 and 12 of FRS 102 Section 1A in respect of financial instruments.

Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction

price, 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.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of

impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present

value of the estimated cashflows discounted at the asset's original effective interest rate. The impairment loss is

recognised in profit or loss.

Basic financial liabilities, including trade and other 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 receipts discounted at a market rate

of interest.

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. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are

measured at amortised cost using the effective interest method.

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 that have been enacted or

substantively enacted by the statement of financial position date.

Going concern

The company balance sheet shows net liabilities of £130,396 (2015 £131,885). The director is aware of the situation and

believes that it is appropriate to prepare the financial statements on a going concern basis as she believes the company will

return to trading profitably in the future.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2016

and 31 December 2016

111,384

AMORTISATION

At 1 January 2016

and 31 December 2016

111,384

NET BOOK VALUE

At 31 December 2016

-

At 31 December 2015

-

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2016

and 31 December 2016

13,022

DEPRECIATION

At 1 January 2016

12,833

Charge for year

84

At 31 December 2016

12,917

NET BOOK VALUE

At 31 December 2016

105

At 31 December 2015

189

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Trade debtors

30,696

13,407

Other debtors

30,235

48,106

60,931

61,513

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Bank loans and overdrafts

-

786

Credit card

2,806

1,891

Trade creditors

154,029

162,829

Taxation and social security

12,427

6,161

Other creditors

48,770

42,384

218,032

214,051

8.	FINANCIAL INSTRUMENTS

The company has the following financial instruments:

2016

2015

£

£

Financial assets that are debt instruments measured at amortised cost

Trade debtors

30,696

13,407

Financial liabilities measured at amortised cost

Trade creditors

154,029

162,829

There is no interest income or expense for financial assets and liabilities that are not measured at fair value through profit

and loss.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

£

100

Ordinary

£1

100

100

10.

RESERVES

Retained

earnings

£

At 1 January 2016

(131,985

)

Profit for the year

1,489

At 31 December 2016

(130,496

)

11.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mrs RE Forde.

12.	FIRST YEAR ADOPTION

The company has adopted FRS 102 for the first time in the year ended 31 December 2016. The reported financial position

and financial performance for the previous period are not affected by the transition to FRS102.

The following reproduces the text of the report prepared for the director and members in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of

Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the

Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial

statements of Airphone Telecom Solutions Limited for the year ended 31 December 2016 which comprise the Income Statement,

Statement of Financial Position and the related notes from the company's accounting records and from information and

explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Airphone Telecom Solutions Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Airphone Telecom Solutions Limited and state those matters that we have agreed to state to the director of Airphone Telecom Solutions Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Airphone Telecom Solutions Limited director for our work or for this report.

It is your duty to ensure that Airphone Telecom Solutions Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Airphone Telecom Solutions Limited. You consider that Airphone Telecom Solutions Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Airphone Telecom Solutions Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Duncan & Toplis Limited

Enterprise Way

Pinchbeck

Spalding

Lincolnshire

PE11 3YR

23 May 2017