COPIER TECHNICAL SERVICES LIMITED | |||||||||||
UNAUDITED FINANCIAL STATEMENTS | |||||||||||
FOR THE YEAR ENDED | |||||||||||
31 OCTOBER 2020 | |||||||||||
Company Registration Number: 04780927 | |||||||||||
COPIER TECHNICAL SERVICES LIMITED | |||||||||||
UNAUDITED FINANCIAL STATEMENTS | |||||||||||
FOR THE YEAR ENDED 31 OCTOBER 2020 | |||||||||||
CONTENTS | PAGES | ||||||||||
Company information | 1 | ||||||||||
Balance sheet | 2 | ||||||||||
Notes to the financial statements | 3 to 6 | ||||||||||
COPIER TECHNICAL SERVICES LIMITED | |||||||||||
COMPANY INFORMATION | |||||||||||
FOR THE YEAR ENDED 31 OCTOBER 2020 | |||||||||||
DIRECTOR | |||||||||||
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SECRETARY | |||||||||||
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REGISTERED OFFICE | |||||||||||
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COMPANY REGISTRATION NUMBER | |||||||||||
04780927 England and Wales | |||||||||||
COPIER TECHNICAL SERVICES LIMITED | |||||||||||
BALANCE SHEET | |||||||||||
AS AT 31 OCTOBER 2020 | |||||||||||
Notes | 2020 | 2019 | |||||||||
£ | £ | ||||||||||
CURRENT ASSETS | |||||||||||
Stock |
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Debtors | 5 |
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Cash at bank and in hand |
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CREDITORS: Amounts falling due within one year | 6 |
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NET CURRENT ASSETS |
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NET ASSETS |
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CAPITAL AND RESERVES | |||||||||||
Called up share capital |
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Distributable profit and loss account |
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SHAREHOLDER'S FUNDS |
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As permitted by S444 (5A) of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company’s Profit and Loss Account or Directors Report. | |||||||||||
Signed on behalf of the board | |||||||||||
D Bunting | |||||||||||
Director | |||||||||||
Date approved by the board: |
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COPIER TECHNICAL SERVICES LIMITED | |||||||||||
NOTES TO THE FINANCIAL STATEMENTS | |||||||||||
FOR THE YEAR ENDED 31 OCTOBER 2020 | |||||||||||
1 | GENERAL INFORMATION | ||||||||||
Copier Technical Services Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is: | |||||||||||
Cranbrook House | |||||||||||
287-291 Banbury Road | |||||||||||
Oxford | |||||||||||
OX2 7JQ | |||||||||||
The financial statements are presented in Sterling, which is the functional currency of the company. | |||||||||||
2 | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | ||||||||||
Basis of preparation of financial statements | |||||||||||
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Revenue recognition | |||||||||||
Turnover is measured at the fair value of consideration received or receivable and represents the invoiced value of office and computer equipment maintenance services provided, stated net of trade discounts and value added tax. | |||||||||||
The company recognises revenue when the amount of revenue can be measured reliably and when it is probable that future economic benefits will flow to the entity. |
Grant Income | |
Grant income has been recognised under the accrual model, where income is recognised on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate. |
COPIER TECHNICAL SERVICES LIMITED | |||||||||||
NOTES TO THE FINANCIAL STATEMENTS | |||||||||||
FOR THE YEAR ENDED 31 OCTOBER 2020 | |||||||||||
2 | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…) | ||||||||||
Financial Instruments | |||||||||||
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The impairment loss for financial assets measured at cost is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date. |
Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amount and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. | |||||||||||
Impairment of non-financial assets | |||||||||||
Stocks are assessed for impairment at each reporting date. The carrying amount of each item of stock, or group of similar items, is compared with its selling price less cost to complete and sell. If an item of stock, or group of similar items, is impaired its carrying amount is reduced to selling price less costs to complete and sell, and an impairment loss is recognised immediately in the profit and loss account. | |||||||||||
If an impairment loss is subsequently reversed, the carrying amount of the asset, or group of related assets, is increased to the revised estimate of its recoverable amount, but not to exceed the amount that would have been determined had no impairment loss been recognised for the asset, or group of related assets, in prior periods. A reversal of an impairment loss is recognised immediately in the profit and loss account. |
Stock | |||||||||||
Stock has been valued at the lower of cost and estimated selling price less cost to complete and sell, after making due allowance for obsolete and slow-moving items. Cost comprises the cost of goods purchased valued on a first in first out basis. | |||||||||||
The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised. |
Debtors | |
Short term debtors are measured at transaction price, less any impairment. | |||||||||||
COPIER TECHNICAL SERVICES LIMITED | |||||||||||
NOTES TO THE FINANCIAL STATEMENTS | |||||||||||
FOR THE YEAR ENDED 31 OCTOBER 2020 | |||||||||||
2 | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued…) | ||||||||||
Creditors | |||||||||||
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Taxation | |||||||||||
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Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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 taxable profits. | |||||||||||
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference. | |||||||||||
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3 | CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS | ||||||||||
No significant accounting estimates and judgements have had to be made by the director in preparing these financial statements. | |||||||||||
4 | EMPLOYEES | ||||||||||
The average number of persons employed by the company (including the director) during the year was: | |||||||||||
2020 | 2019 | ||||||||||
Average number of employees |
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5 | DEBTORS | ||||||||||
2020 | 2019 | ||||||||||
£ | £ | ||||||||||
Trade debtors |
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COPIER TECHNICAL SERVICES LIMITED | |||||||||||
NOTES TO THE FINANCIAL STATEMENTS | |||||||||||
FOR THE YEAR ENDED 31 OCTOBER 2020 | |||||||||||
6 | CREDITORS: Amounts falling due within one year | ||||||||||
2020 | 2019 | ||||||||||
£ | £ | ||||||||||
Trade creditors |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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25,506 | 23,542 | ||||||||||