ACT Blade Ltd Filleted Accounts Cover
ACT Blade Ltd
Company No. SC520419
Information for Filing with The Registrar
31 March 2023
ACT Blade Ltd Directors Report Registrar
The Directors present their report and the accounts for the year ended 31 March 2023.
Principal activities
The principal activity of the company during the year under review was development of ACT Blade technology, which will be used in the future to develop wind turbine blades.
Directors
The Directors who served at any time during the year were as follows:
A. Balestra
L. Isolabella
D.W. Macvicar
S. Malpede
A. Rosiello
C. Rutherford
The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006.
Signed on behalf of the board
A. Rosiello
Director
26 July 2023
ACT Blade Ltd Balance Sheet Registrar
at
31 March 2023
Company No.
SC520419
Notes
2023
2022
£
£
Fixed assets
Intangible assets
4
4,081,2733,417,286
Tangible assets
5
9461,626
Investments
6
8,5928,592
4,090,8113,427,504
Current assets
Debtors
7
74,71259,337
Cash at bank and in hand
2,461,443349,726
2,536,155409,063
Creditors: Amount falling due within one year
8
(132,856)
(98,959)
Net current assets
2,403,299310,104
Total assets less current liabilities
6,494,1103,737,608
Creditors: Amounts falling due after more than one year
9
(4,496,076)
(3,446,919)
Net assets
1,998,034290,689
Capital and reserves
Called up share capital
174174
Share premium account
11
2,965,243778,208
Profit and loss account
11
(967,383)
(487,693)
Total equity
1,998,034290,689
These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.
For the year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.
Approved by the board on 26 July 2023
And signed on its behalf by:
A. Rosiello
Director
26 July 2023
ACT Blade Ltd Notes to the Accounts Registrar
for the year ended 31 March 2023
1
General information
Its registered number is: SC520419
Its registered office is:
14-18 Hill Street
Edinburgh
Scotland
EH2 3JZ
The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland (March 2018) and the Companies Act 2006.
2
Accounting policies
Tangible fixed assets and depreciation
Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss.
Depreciation is provided at the following annual rates in order to write off the cost or valuation less the estimated residual value of each asset over its estimated useful life:
Furniture, fittings and equipment
20% Straight line
3
Employees
2023
2022
Number
Number
The average monthly number of employees (including directors) during the year was:
1215
4
Intangible fixed assets
Develop-ment costs
Total
£
£
Cost
At 1 April 2022
3,418,5543,418,554
Additions
665,255665,255
At 31 March 2023
4,083,8094,083,809
Amortisation and impairment
At 1 April 2022
1,2681,268
Charge for the year
1,2681,268
At 31 March 2023
2,5362,536
Net book values
At 31 March 2023
4,081,2734,081,273
At 31 March 2022
3,417,2863,417,286
5
Tangible fixed assets
Fixtures, fittings and equipment
Total
£
£
Cost or revaluation
At 1 April 2022
20,62320,623
Additions
350350
At 31 March 2023
20,97320,973
Depreciation
At 1 April 2022
18,99718,997
Charge for the year
1,0301,030
At 31 March 2023
20,02720,027
Net book values
At 31 March 2023
946946
At 31 March 2022
1,626
1,626
6
Investments
Other investments
Total
£
£
Cost or valuation
At 1 April 2022
8,592
8,592
At 31 March 2023
8,592
8,592
Provisions/Impairment
Net book values
At 31 March 2023
8,592
8,592
At 31 March 2022
8,592
8,592
7
Debtors
2023
2022
£
£
VAT recoverable
7,433-
Other debtors
63,82159,337
Prepayments and accrued income
3,458-
74,71259,337
8
Creditors:
amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
1,746-
Trade creditors
67,54726,310
Taxes and social security
2,543
1,540
Other creditors
61,02071,109
132,85698,959
9
Creditors:
amounts falling due after more than one year
2023
2022
£
£
Accruals and deferred income
4,496,0763,446,919
4,496,0763,446,919
10
Share Capital
208,380 ordinary shares at £0.001 each
11
Reserves
Share premium account - includes any premiums received on issue of share capital. Any transaction costs associated with the issuing of shares are deducted from share premium.
Profit and loss account - includes all current and prior period retained profits and losses.
12
Related party disclosures
Transactions with related parties
Included with Other Creditors is a loan of £60,920 (2022: £60,920) from SMAR-Azure Limited. Directors, Dr. D W MacVicar, Dr. S M Malpede and Dr. A Rosiello are also directors of SMAR-Azure Limited. The loan is interest-free and repayable on demand.
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