|
|
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
FINANCIAL STATEMENTS |
|
FOR THE YEAR ENDED 31 MARCH 2019 |
|
FOR |
|
CALL SYSTEMS TECHNOLOGY LIMITED |
|
|
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
FINANCIAL STATEMENTS |
|
FOR THE YEAR ENDED 31 MARCH 2019 |
|
FOR |
|
CALL SYSTEMS TECHNOLOGY LIMITED |
CALL SYSTEMS TECHNOLOGY LIMITED (REGISTERED NUMBER: 04025235) |
|
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2019 |
|
|
|
|
|
|
|
|
|
|
Page |
|
Company Information | 1 |
|
Statement of Financial Position | 2 |
|
Notes to the Financial Statements | 3 |
|
CALL SYSTEMS TECHNOLOGY LIMITED |
|
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MARCH 2019 |
|
|
|
|
|
|
|
DIRECTORS: |
|
|
|
|
|
|
|
SECRETARY: |
|
|
|
|
|
|
REGISTERED OFFICE: |
|
|
|
|
|
|
|
|
REGISTERED NUMBER: |
|
|
|
|
|
|
AUDITORS: |
|
Chartered Accountants and |
Statutory Auditors |
50 Seymour Street |
London |
W1H 7JG |
CALL SYSTEMS TECHNOLOGY LIMITED (REGISTERED NUMBER: 04025235) |
|
STATEMENT OF FINANCIAL POSITION |
31 MARCH 2019 |
|
2019 | 2018 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
|
|
|
CURRENT ASSETS |
Stocks |
|
|
Debtors | 5 |
|
|
Cash at bank and in hand |
|
|
|
|
CREDITORS |
Amounts falling due within one year | 6 |
|
|
NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
|
TOTAL ASSETS LESS CURRENT
LIABILITIES |
|
|
|
PROVISIONS FOR LIABILITIES |
|
|
NET ASSETS |
|
|
|
CAPITAL AND RESERVES |
Called up share capital | 8 |
|
|
Retained earnings | 9 |
|
|
SHAREHOLDERS' FUNDS |
|
|
|
|
|
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
|
The financial statements were approved and authorised for issue by the Board of Directors on
were signed on its behalf by: |
|
|
|
|
|
|
|
CALL SYSTEMS TECHNOLOGY LIMITED (REGISTERED NUMBER: 04025235) |
|
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2019 |
|
|
1. | STATUTORY INFORMATION |
|
Call Systems Technology Limited is a
|
company's registered number and registered office address can be found on the Company Information page. |
|
The presentation currency of the financial statements is the Pound Sterling (£). |
|
|
2. | ACCOUNTING POLICIES |
|
Basis of preparing the financial statements |
|
|
Related party exemption |
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. |
|
Significant judgements and estimates |
The preparation of financial statements in conformity with FRS 102 requires management to make judgements, |
estimates and assumptions that affect the application of policies and reported amounts of assets and liabilities, |
income and expenses. These estimates and associated assumptions are based on historical experience and various |
other factors that are believed to be reasonable under the circumstances. |
|
The estimates and underlying assumptions are reviewed on an ongoing basis. There has been no judgements |
made by management in the application of FRS 102 that have had a significant effect on the financial statements |
and estimates with a significant risk of material adjustment. |
|
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
|
Turnover can be split into two main categories: |
|
- Sales |
- Service |
|
Sales turnover is recognised when the significant risk and rewards of ownership of the goods has transferred to |
the buyer. This is usually the point at which the items have been delivered and installed. |
|
Service turnover is recognised in accordance with the extended maintenance contract. Turnover is deferred and |
recognised in the period to which it relates. |
CALL SYSTEMS TECHNOLOGY LIMITED (REGISTERED NUMBER: 04025235) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2019 |
|
|
2. | ACCOUNTING POLICIES - continued |
|
Tangible fixed assets |
|
Improvement to Short leasehold | - |
|
Plant and machinery | - |
|
Fixtures and fittings | - |
|
Computer equipment | - |
|
|
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets |
have suffered an impairment. If there is an indication of possible impairment, the recoverable amount of any |
affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the |
carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised |
immediately in profit or loss. |
|
If an impairment loss subsequently reverses, the carry amount of the asset is increased to the revised estimate of |
its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss |
been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit |
or loss. |
|
Stocks |
Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell. The cost of |
these stock are measured by using the first-in, first-out (FIFO) or weighted average cost formula and the same |
cost formula has been used for all stock items having a similar nature and use. |
|
At each reporting date, stocks are assessed to determine whether a provision for any impairment is required by |
comparing the carrying amount of each item of stock (or group of similar items) with its selling price less costs to |
complete and sell. |
|
If an item of stock (or group of similar items) is impaired, the carrying amount of the stock (or the group of |
similar items) is reduced to its selling price less costs to complete and sell. That reduction is an impairment loss |
and it is recognised immediately in profit or loss |
|
Financial instruments |
The company only enters into basic financial instruments transactions that result in the recognition of financial |
assets and liabilities like trade and other accounts receivable and payable. |
|
Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are |
measured, initially and subsequently, at the undiscounted amount of the cash and other consideration, expected to |
be paid or received. However if the arrangements of a short-term instrument constitute a financing transaction, |
like the payment of a trade debt deferred beyond normal business terms of financed at a rate of interest that is not |
a market rate or in case of an out-right short-term loan not at market rate, the financial asset or liability is |
measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar |
debt instrument and subsequently at amortised cost. |
|
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 statement of financial position date. |
|
CALL SYSTEMS TECHNOLOGY LIMITED (REGISTERED NUMBER: 04025235) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2019 |
|
|
2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the |
statement of financial position 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. |
|
Research and development |
Expenditure on research and development is written off in the year in which it is incurred. |
|
|
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the |
statement of financial position 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. |
|
Leases |
Rentals payable under operating leases are charged to profit or loss on a straight-line basis over the lease term, |
unless the rental payments are structured to increase in line with expected general inflation, in which case the |
company recognises annual rent expense to amounts owed to the lessor. |
|
The aggregate benefit of lease incentives are recognised as a reduction to the expense recognised over the lease |
term on a straight line basis. |
|
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension plan for its employees. A defined contribution plan is a |
pension plan under which the company pays fixed contributions into a separate entity. Contributions to the |
company's pension scheme are charged to the profit or loss in the period to which they relate. |
|
Debtors |
Trade debtors are amounts due from customers for services performed in the ordinary course of business. Trade |
debtors are recognised at the undiscounted amount of cash receivable, which is normally the invoice price, less |
any allowance for doubtful debts. |
|
Creditors |
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of |
business from suppliers. Trade creditors are recognised at the undiscounted amount owed to the supplier, which |
is normally the invoice price. |
|
Cash and cash equivalents |
Cash and cash equivalents in the balance sheet comprise cash at banks and in hand. |
|
3. | EMPLOYEES AND DIRECTORS |
|
The average number of employees during the year was
|
CALL SYSTEMS TECHNOLOGY LIMITED (REGISTERED NUMBER: 04025235) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2019 |
|
|
4. | TANGIBLE FIXED ASSETS |
Improvement | Fixtures |
to Short | Plant and | and | Computer |
leasehold | machinery | fittings | equipment | Totals |
£ | £ | £ | £ | £ |
COST |
At 1 April 2018 |
|
|
|
|
|
Additions |
|
|
|
|
|
Disposals |
|
( |
) | ( |
) | ( |
) | ( |
) |
At 31 March 2019 |
|
|
|
|
|
DEPRECIATION |
At 1 April 2018 |
|
|
|
|
|
Charge for year |
|
|
|
|
|
Eliminated on disposal |
|
( |
) | ( |
) | ( |
) | ( |
) |
At 31 March 2019 |
|
|
|
|
|
NET BOOK VALUE |
At 31 March 2019 |
|
|
|
|
|
At 31 March 2018 |
|
|
|
|
|
|
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Trade debtors |
|
|
Amounts owed by group undertakings |
|
|
Other debtors |
|
|
Directors' current accounts | 4,135 | - |
Corporation tax recoverable | 18,591 | 101,987 |
Prepayments |
|
|
|
|
|
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2019 | 2018 |
£ | £ |
Trade creditors |
|
|
Amounts owed to group undertakings |
|
|
Social security and other taxes |
|
|
VAT | 68,195 | 69,122 |
Other creditors |
|
|
Invoice Discounting | 415,255 | 516,301 |
Directors' current accounts | 11,295 | 2,256 |
Accruals and deferred income |
|
|
|
|
CALL SYSTEMS TECHNOLOGY LIMITED (REGISTERED NUMBER: 04025235) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2019 |
|
|
7. | SECURED DEBTS |
|
The following secured debts are included within creditors: |
|
2019 | 2018 |
£ | £ |
Invoice Discounting | 415,255 | 516,301 |
|
There is a debenture charge over all the assets of the company in respect of the liabilities owed to RBS invoice |
Finance Limited for its invoice discounting facilities. |
|
8. | CALLED UP SHARE CAPITAL |
|
|
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2019 | 2018 |
value: | £ | £ |
|
Ordinary | £1 | 100 | 100 |
|
9. | RESERVES |
Retained |
earnings |
£ |
|
At 1 April 2018 |
|
Profit for the year |
|
Dividends | ( |
) |
At 31 March 2019 |
|
|
10. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
|
The Report of the Auditors was unqualified. |
|
|
for and on behalf of
|
|
11. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
|
The following advances and credits to directors subsisted during the years ended 31 March 2019 and |
31 March 2018: |
|
2019 | 2018 |
£ | £ |
|
Balance outstanding at start of year |
|
|
Amounts advanced |
|
|
Amounts repaid |
|
|
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
|
|
CALL SYSTEMS TECHNOLOGY LIMITED (REGISTERED NUMBER: 04025235) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2019 |
|
|
11. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued |
|
|
Balance outstanding at start of year | ( |
) | ( |
) |
Amounts advanced |
|
|
Amounts repaid | ( |
) |
|
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | ( |
) | ( |
) |
|
A P Hutchinson's overdrawn balance will be repaid within 9 months of the period end. |
|
12. | CONTROL AND ULTIMATE CONTROLLING PARTY |
|
Call Systems Holdings Limited, a company incorporated in England & Wales, is the immediate controlling party |
and Call Systems Holdings (UK) Limited, a company incorporated in England & Wales, is the ultimate parent |
company of Call Systems Technology Limited. |
|
Call Systems Holdings Limited, a company incorporated in England & Wales, is the smallest group and Call |
Systems Holdings (UK) Limited, a company incorporated in England & Wales, is the largest group of which the |
company is a member. Copies of their accounts can be obtained from Companies House, Crown Way, Cardiff |
CF14 3UZ. |
|
Mr A D Sheppard and Mrs E C Sheppard are the ultimate controlling parties by virtue of their majority |
shareholdings in Call Systems Holdings (UK) Limited, a company incorporated in England & Wales. |