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Financial Statements for the Year Ended 31 December 2020 |
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Teligent Limited |
REGISTERED NUMBER:
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Financial Statements for the Year Ended 31 December 2020 |
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for |
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Teligent Limited |
Teligent Limited (Registered number: 02893478) |
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Contents of the Financial Statements |
for the Year Ended 31 December 2020 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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Teligent Limited |
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Company Information |
for the Year Ended 31 December 2020 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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SENIOR STATUTORY AUDITOR: |
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AUDITORS: |
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Chartered Accountants & Statutory Auditors |
Gautam House |
1-3 Shenley Avenue |
Ruislip Manor |
Middlesex |
HA4 6BP |
Teligent Limited (Registered number: 02893478) |
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Balance Sheet |
31 December 2020 |
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31.12.20 | 31.12.19 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Stocks | 5 |
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Debtors | 6 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 8 |
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Retained earnings | 9 |
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SHAREHOLDERS' FUNDS |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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Teligent Limited (Registered number: 02893478) |
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Notes to the Financial Statements |
for the Year Ended 31 December 2020 |
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1. | STATUTORY INFORMATION |
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Teligent Limited is a
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover represents the net invoiced sales of goods and services, excluding value added tax and trade discounts. |
Project sales are recognised on an invoiced basis. |
Maintenance income is included in the accounts in the period to which it relates. |
All other income is included in the accounts on an invoiced basis. |
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Tangible fixed assets |
Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation. |
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Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life. |
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Fixtures and fittings - 33% on cost |
Computer equipment - 33% on cost |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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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. |
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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. |
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Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
Teligent Limited (Registered number: 02893478) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2020 |
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2. | ACCOUNTING POLICIES - continued |
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Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
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Leases |
Leases, where a significant portion of the risks and rewards of ownership are retained by the lessor, are classified as operating leases. Where the company is the lessee, payments made under operating leases, are charged to the profit and loss account on a straight line basis over the period of the lease. |
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Critical accounting judgements and key sources of estimation uncertainty |
Where management makes judgements when applying the Company's accounting policies that have a significant effect on the amounts that are recognised in the accounts such judgements are disclosed in the accounts. |
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Where the Company needs to resort to assumptions and estimates at the end of the reporting period that have a significant risk of resulting in a material adjustments in the carrying amounts of assets and liabilities within the next financial year, such assumptions and estimates are disclosed in the accounts. |
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There were no accounting judgement or key sources of estimation uncertainty in these accounts. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Computer |
fittings | equipment | Totals |
£ | £ | £ |
COST |
At 1 January 2020 |
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Additions |
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At 31 December 2020 |
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DEPRECIATION |
At 1 January 2020 |
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Charge for year |
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At 31 December 2020 |
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NET BOOK VALUE |
At 31 December 2020 |
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At 31 December 2019 |
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5. | STOCKS |
31.12.20 | 31.12.19 |
£ | £ |
Stocks |
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Teligent Limited (Registered number: 02893478) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2020 |
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6. | DEBTORS |
31.12.20 | 31.12.19 |
£ | £ |
Amounts falling due within one year: |
Trade debtors |
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Group Undertakings | 347,430 | 236,674 |
Other debtors |
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Prepayments and accrued income |
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Amounts falling due after more than one year: |
Other debtors |
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Aggregate amounts |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.20 | 31.12.19 |
£ | £ |
Trade creditors |
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Tax |
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Social security and other taxes |
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Sundry Credtors | 14,262 | - |
VAT | 129,710 | 102,919 |
Proposed dividends | 273,790 | - |
Accruals and deferred income |
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8. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.12.20 | 31.12.19 |
value: | £ | £ |
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Ordinary shares | £1 | 208,000 | 208,000 |
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9. | RESERVES |
Retained |
earnings |
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At 1 January 2020 |
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Profit for the year |
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Proposed Dividend | (273,790 | ) |
At 31 December 2020 |
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Teligent Limited (Registered number: 02893478) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2020 |
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10. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
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The Report of the Auditors was unqualified. |
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for and on behalf of
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11. | RELATED PARTY DISCLOSURES |
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The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
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12. | CONTROL OF THE COMPANY |
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The company was controlled 100% during the current year and the previous year by its parent company, Teligent Telecom AB.Teligent Telecom AB is a company registered in Sweden. Teligent Telecom AB is 100% controlled by Altruist Technologies Private Limited. Altruist Technologies Private Limited is a company registered in India. |