Contact One Limited - Accounts to registrar - small 17.2

REGISTERED NUMBER: 03577259 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2016

for

Contact One Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

D A Riley

SECRETARY:

REGISTERED OFFICE:

43B Princes Crescent

Bare

Morecambe

Lancashire

LA4 6BY

REGISTERED NUMBER:

03577259 (England and Wales)

ACCOUNTANTS:

Triton Accountancy Services Ltd

Automation House

Newton Rd

Lowton St Mary's

Warrington

WA3 2AN

FIXED ASSETS

Tangible assets

4

13,588

11,846

CURRENT ASSETS

Stocks

5

45,850

148,936

Debtors

6

665,823

392,518

Cash at bank and in hand

340,217

349,477

1,051,890

890,931

CREDITORS

Amounts falling due within one year

7

747,418

666,420

NET CURRENT ASSETS

304,472

224,511

TOTAL ASSETS LESS CURRENT LIABILITIES

318,060

236,357

CREDITORS

Amounts falling due after more than one year

8

-

(2,587

)

PROVISIONS FOR LIABILITIES

(3,154

)

(3,154

)

NET ASSETS

314,906

230,616

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

314,904

230,614

SHAREHOLDERS' FUNDS

314,906

230,616

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 his 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 22 September 2017 and were signed 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 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 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 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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 January 2016

24,696

2,348

25,781

12,269

65,094

Additions

691

-

-

4,792

5,483

At 31 December 2016

25,387

2,348

25,781

17,061

70,577

DEPRECIATION

At 1 January 2016

22,417

2,183

16,379

12,269

53,248

Charge for year

575

25

2,350

791

3,741

At 31 December 2016

22,992

2,208

18,729

13,060

56,989

NET BOOK VALUE

At 31 December 2016

2,395

140

7,052

4,001

13,588

At 31 December 2015

2,279

165

9,402

-

11,846

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

follows:

Motor

vehicles

£

COST

At 1 January 2016

and 31 December 2016

13,482

DEPRECIATION

At 1 January 2016

and 31 December 2016

5,899

NET BOOK VALUE

At 31 December 2016

7,583

At 31 December 2015

7,583

5.

STOCKS

31.12.16

31.12.15

£

£

Work-in-progress

45,850

148,936

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.16

31.12.15

£

£

Trade debtors

652,981

385,922

Amounts owed by associated businesses

6,246

-

Other debtors

6,596

6,596

665,823

392,518

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.16

31.12.15

£

£

Hire purchase contracts

2,307

4,571

Trade creditors

535,295

577,821

Tax

25,637

36,146

Social security and other taxes

17,414

-

VAT

13,291

29,704

Directors' current accounts

148,984

13,688

Accrued expenses

4,490

4,490

747,418

666,420

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.16

31.12.15

£

£

Hire purchase contracts

-

2,587

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.16

31.12.15

£

£

Hire purchase contracts

2,307

7,158