Registration number:
CER Communications Limited
for the Year Ended 28 June 2023
CER Communications Limited
Contents
Company Information |
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Director's Report |
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Accountants' Report |
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Profit and Loss Account |
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Balance Sheet |
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Notes to the Financial Statements |
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Detailed Profit and Loss Account |
CER Communications Limited
Company Information
Director |
Mr CA Edwards |
Registered office |
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Accountants |
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CER Communications Limited
Director's Report for the Year Ended 28 June 2023
The director presents his report and the financial statements for the year ended 28 June 2023.
Directors of the company
The directors who held office during the year were as follows:
Principal activity
The principal activity of the company is the provision of information technology consultancy.
Small companies provision statement
This report has 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.
Approved and authorised by the
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Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
CER Communications Limited
for the Year Ended 28 June 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of CER Communications Limited for the year ended 28 June 2023 as set out on pages 4 to 12 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 at
http://www.icaew.com/regulation.
This report is made solely to the Board of Directors of CER Communications Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of CER Communications Limited and state those matters that we have agreed to state to the Board of Directors of CER Communications Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than CER Communications Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that CER Communications Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of CER Communications Limited. You consider that CER Communications 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 accounts of CER Communications 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 accounts.
......................................
Links Point, Amy Johnson Way
Blackpool
Lancashire
FY4 2FF
CER Communications Limited
Profit and Loss Account for the Year Ended 28 June 2023
Note |
2023 |
2022 |
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Turnover |
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Cost of sales |
( |
( |
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Gross profit |
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|
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Administrative expenses |
( |
( |
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Other operating income |
- |
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Operating profit |
10,129 |
8,417 |
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Other interest receivable and similar income |
|
- |
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Interest payable and similar expenses |
( |
( |
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(162) |
(1,172) |
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Profit before tax |
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|
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Tax on profit |
( |
( |
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Profit for the financial year |
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The above results were derived from continuing operations.
The company has no recognised gains or losses for the year other than the results above.
CER Communications Limited
(Registration number: 05502153)
Balance Sheet as at 28 June 2023
Note |
2023 |
2022 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Retained earnings |
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Shareholders' funds |
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For the financial year ending 28 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
• |
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• |
The director acknowledges his 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.
CER Communications Limited
(Registration number: 05502153)
Balance Sheet as at 28 June 2023
Approved and authorised by the
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CER Communications Limited
Notes to the Financial Statements for the Year Ended 28 June 2023
General information |
The company is a private company limited by share capital, incorporated in England.
The address of its registered office is:
These financial statements were authorised for issue by the
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.
Going concern
The financial statements have been prepared on a going concern basis.
Revenue recognition
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 sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
CER Communications Limited
Notes to the Financial Statements for the Year Ended 28 June 2023
Tax
The tax expense for the period comprises current and deferred 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.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the 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.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
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, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Furniture , fittings and equipment |
25% Reducing balance |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
CER Communications Limited
Notes to the Financial Statements for the Year Ended 28 June 2023
Trade creditors
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 the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
CER Communications Limited
Notes to the Financial Statements for the Year Ended 28 June 2023
Profit before tax |
Arrived at after charging/(crediting)
2023 |
2022 |
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Depreciation expense |
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CER Communications Limited
Notes to the Financial Statements for the Year Ended 28 June 2023
Tangible assets |
Furniture, fittings and equipment |
Total |
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Cost or valuation |
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At 29 June 2022 |
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At 28 June 2023 |
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Depreciation |
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At 29 June 2022 |
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Charge for the year |
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At 28 June 2023 |
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Carrying amount |
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At 28 June 2023 |
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At 28 June 2022 |
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Debtors |
Current |
2023 |
2022 |
Trade debtors |
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Prepayments |
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Other debtors |
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CER Communications Limited
Notes to the Financial Statements for the Year Ended 28 June 2023
Creditors |
Creditors: amounts falling due within one year
Note |
2023 |
2022 |
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Due within one year |
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Loans and borrowings |
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Trade creditors |
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Taxation and social security |
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Accruals and deferred income |
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Creditors: amounts falling due after more than one year
Note |
2023 |
2022 |
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Due after one year |
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Loans and borrowings |
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Share capital |
Allotted, called up and fully paid shares
2023 |
2022 |
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No. |
£ |
No. |
£ |
|
|
|
100 |
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100 |
Loans and borrowings |
2023 |
2022 |
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Non-current loans and borrowings |
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Bank borrowings |
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2023 |
2022 |
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Current loans and borrowings |
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Bank borrowings |
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CER Communications Limited
Detailed Profit and Loss Account for the Year Ended 28 June 2023
2023 |
2022 |
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Turnover (analysed below) |
220,031 |
239,128 |
Cost of sales (analysed below) |
(141,454) |
(163,547) |
Gross profit |
78,577 |
75,581 |
Gross profit (%) |
35.71% |
31.61% |
Administrative expenses |
||
Employment costs (analysed below) |
(34,572) |
(26,892) |
Establishment costs (analysed below) |
(1,429) |
(1,669) |
General administrative expenses (analysed below) |
(31,285) |
(38,014) |
Finance charges (analysed below) |
(320) |
(987) |
Depreciation costs (analysed below) |
(842) |
(1,122) |
(68,448) |
(68,684) |
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Other operating income (analysed below) |
- |
1,520 |
Operating profit |
10,129 |
8,417 |
Other interest receivable and similar income (analysed below) |
752 |
- |
Interest payable and similar expenses (analysed below) |
(914) |
(1,172) |
(162) |
(1,172) |
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Profit before tax |
9,967 |
7,245 |
CER Communications Limited
Detailed Profit and Loss Account for the Year Ended 28 June 2023
2023 |
2022 |
Turnover |
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Sale of goods, UK |
220,031 |
239,128 |
Cost of sales |
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Purchases |
(141,454) |
(163,547) |
Employment costs |
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Wages and salaries (excluding directors) |
(9,600) |
(9,120) |
Directors remuneration |
(24,972) |
(17,772) |
(34,572) |
(26,892) |
Establishment costs |
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Insurance |
(456) |
(455) |
Repairs and maintenance |
(973) |
(1,214) |
(1,429) |
(1,669) |
General administrative expenses |
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Telephone and fax |
(6,822) |
(9,807) |
Printing, postage and stationery |
(980) |
(844) |
Sundry expenses |
(230) |
(282) |
Motor expenses |
(11,581) |
(10,411) |
Travel and subsistence |
(6,246) |
(5,295) |
Advertising |
- |
(2,392) |
Marketing and entertaining |
(2,906) |
(4,618) |
Accountancy fees |
(2,520) |
(3,540) |
Legal and professional fees |
- |
(825) |
(31,285) |
(38,014) |
Finance charges |
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Bank charges |
(320) |
(987) |
Depreciation costs |
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Depreciation of office equipment (owned) |
(842) |
(1,122) |
Other operating income |
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Government grants receivable |
- |
1,520 |
Other interest receivable and similar income |
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Other interest receivable |
752 |
- |
CER Communications Limited
Detailed Profit and Loss Account for the Year Ended 28 June 2023
2023 |
2022 |
Interest payable and similar expenses |
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Bank loan interest payable |
(870) |
(1,115) |
Other interest payable |
(44) |
(57) |
(914) |
(1,172) |