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Registration number: 09497831

Acturus Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2023

Pages for filing with Registrar

 

Acturus Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Financial Statements

4 to 8

 

Acturus Ltd

Company Information

Director

C D Harvey

Registered office

Unit 10 Hollyhill Park
Hollyhill Road
Cinderford
Gloucestershire
GL14 2YB

Registered number

09497831

Accountants

Corrigan Accountants Limited
1st Floor
25 King Street
Bristol
BS1 4PB

 

Acturus Ltd

(Registration number: 09497831)
Balance Sheet as at 30 June 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

3,400

2,774

Current assets

 

Stocks

5

135,210

50,724

Debtors

6

2,304

49,343

Cash at bank and in hand

 

63,655

48,286

 

201,169

148,353

Creditors: Amounts falling due within one year

7

(50,710)

(42,207)

Net current assets

 

150,459

106,146

Net assets

 

153,859

108,920

Capital and reserves

 

Called up share capital

8

2

2

Capital redemption reserve

4

4

Profit and loss account

153,853

108,914

Total equity

 

153,859

108,920

 

Acturus Ltd

(Registration number: 09497831)
Balance Sheet as at 30 June 2023

For the financial year ending 30 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:

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 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.

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 director on 10 November 2023
 

C D Harvey

Director

 

Acturus Ltd

Notes to the Financial Statements for the Year Ended 30 June 2023

1

Statutory information

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

The address of its registered office is:
Unit 10 Hollyhill Park
Hollyhill Road
Cinderford
Gloucestershire
GL14 2YB

2

Accounting policies

Summary of significant accounting policies

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.

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.

The financial statements are prepared in pounds sterling which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Going concern

The accounts have been prepared on a going concern basis which assumes that the company has sufficient funds to meet liabilities as they fall due. Having prepared forecasts and budgets for forthcoming periods, the director continues to adopt the going concern basis in preparing the annual financial statements.

Revenue recognition

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

The company recognises revenue when the amount of revenue can be reliably measured and it is probable that future economic benefits will flow to the entity.

 

Acturus Ltd

Notes to the Financial Statements for the Year Ended 30 June 2023

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into sterling at the rates prevailing on the reporting period date. Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Foreign exchange gains and losses are taken to profit or loss, and classified within administrative expenses.

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 corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date.

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
Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation.

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

Other property, plant and equipment

20% on cost

Furniture, fittings and equipment

20% on cost

Cash and cash equivalents

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

 

Acturus Ltd

Notes to the Financial Statements for the Year Ended 30 June 2023

Trade debtors

Trade debtors are recognised initially at the transaction price. They are subsequently measured at cost 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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are recognised at the transaction price.

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.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

 

Acturus Ltd

Notes to the Financial Statements for the Year Ended 30 June 2023

4

Tangible fixed assets

Furniture, fittings and equipment
 £

Other property, plant and equipment
 £

Total
£

Cost

At 1 July 2022

13,961

34,200

48,161

Additions

1,829

-

1,829

At 30 June 2023

15,790

34,200

49,990

Depreciation

At 1 July 2022

12,682

32,705

45,387

Charge for the year

647

556

1,203

At 30 June 2023

13,329

33,261

46,590

Carrying amount

At 30 June 2023

2,461

939

3,400

At 30 June 2022

1,279

1,495

2,774

5

Stocks

2023
£

2022
£

Raw materials and consumables

63,130

31,578

Work in progress

72,080

19,146

135,210

50,724

6

Debtors: amounts falling due within one year

2023
£

2022
£

Trade debtors

-

46,800

Other debtors

2,304

2,304

Social security and other taxes

-

239

2,304

49,343

 

Acturus Ltd

Notes to the Financial Statements for the Year Ended 30 June 2023

7

Creditors

2023
£

2022
£

Trade creditors

79

117

Corporation tax

20,953

5,753

Taxation and social security

10,836

10,770

Other creditors

17

17

Accruals

1,825

1,550

Directors' loan accounts

17,000

24,000

50,710

42,207

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

2

2

2

2

         

9

Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

2023
£

2022
£

6,483

17,408

The amount of non-cancellable operating lease payments recognised as an expense during the year was £10,925 (2022 - £10,607).