Cinos Communications Services Limited - Period Ending 2017-10-31

Cinos Communications Services Limited

Annual Report and Unaudited Financial Statements

Year Ended 31 October 2017

Cinos Communications Services Limited

Balance Sheet

31 October 2017

Registration Number: 09665758

	Note	2017 £	2016 £
Fixed assets
Tangible assets	4	8,770	3,198
Current assets
Debtors	5	298,805	404,283
Cash at bank and in hand		145,828	107,998
		444,633	512,281
Creditors: Amounts falling due within one year	6	(260,342)	(414,405)
Net current assets		184,291	97,876
Net assets		193,061	101,074
Capital and reserves
Called up share capital		100	100
Profit and loss account		192,961	100,974
Total equity		193,061	101,074

For the financial year ending 31 October 2017 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 accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 31 May 2018
and signed on its behalf by:
 

Mr K Deady Director

Mr S Franklin Director

Mr D T Worman Director

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Cinos Communications Services Limited

Notes to the Financial Statements

Year Ended 31 October 2017

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 13
Camberley Business Park
Bracebridge
Camberley
Surrey
GU15 3DP

These financial statements were authorised for issue by the Board on 31 May 2018.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Tangible assets

Tangible assets is stated in the Balance Sheet at cost, less any subsequent accumulated depreciation.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Equipment & fixtures	20% reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits.

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Cinos Communications Services Limited

Notes to the Financial Statements

Year Ended 31 October 2017

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. All shares are allotted, called up and fully paid.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 12 (2016 - 5).

4	Tangible assets

	Equipment £	Total £
Cost or valuation
At 1 November 2016	3,295	3,295
Additions	10,616	10,616
Disposals	(2,500)	(2,500)
At 31 October 2017	11,411	11,411
Depreciation
At 1 November 2016	97	97
Charge for the year	2,544	2,544
At 31 October 2017	2,641	2,641
Carrying amount
At 31 October 2017	8,770	8,770
At 31 October 2016	3,198	3,198

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Cinos Communications Services Limited

Notes to the Financial Statements

Year Ended 31 October 2017

5

Debtors

	Note	2017 £	2016 £
Trade debtors		271,582	389,389
Amounts owed by group undertakings and undertakings in which the company has a participating interest		-	689
Other debtors		4,903	-
Directors' loan accounts		15,000	12,000
		291,485	402,078

Included within debtors is a directors' loan account balance of £15,000 (2016 - £12,000).

6

Creditors

Creditors: amounts falling due within one year

	Note	2017 £	2016 £
Due within one year
Trade creditors		90,240	259,153
Amounts owed to group undertakings and undertakings in which the company has a participating interest		54,031	-
Taxation and social security		69,846	76,742
Other creditors		46,225	78,510
		260,342	414,405

7	Financial commitments, guarantees and contingencies

At the balance sheet date the total amount of rentals payable in respect of the premises lease covering the period to the end of the lease is £29,032 (2016 - £nil).

8	Transition to FRS 102

This is the first accounting period the company has prepared financial statements in accordance with FRS 102. There are no adjustments arising on transition from previous UK GAAP to FRS 102.

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