Company Registration No. 08122392 (England and Wales)
Activon Projects Limited
Unaudited accounts
for the year ended 31 December 2022
Activon Projects Limited
Statement of financial position
as at 31 December 2022
Tangible assets
28,189
21,446
Cash at bank and in hand
6,252
88
Creditors: amounts falling due within one year
(72,773)
(51,336)
Net current (liabilities)/assets
(52,194)
4,843
Total assets less current liabilities
(24,005)
26,289
Creditors: amounts falling due after more than one year
(14,842)
(19,857)
Provisions for liabilities
Net (liabilities)/assets
(38,847)
2,357
Called up share capital
100
100
Profit and loss account
(38,947)
2,257
Shareholders' funds
(38,847)
2,357
For the year ending 31 December 2022 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 21 November 2023 and were signed on its behalf by
Scott Bickerton
Director
Company Registration No. 08122392
Activon Projects Limited
Notes to the Accounts
for the year ended 31 December 2022
Activon Projects Limited is a private company, limited by shares, registered in England and Wales, registration number 08122392. The registered office is International House, 45-55 Commercial Street, London, E1 6BD, United Kingdom.
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Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
10% reducing balance
Motor vehicles
25% reducing balance
Fixtures & fittings
15% reducing balance, 20% straight line
Computer equipment
3 years straight line
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Activon Projects Limited
Notes to the Accounts
for the year ended 31 December 2022
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
At the year end, the company had net liabilities of £38,847. The directors have confirmed that they will continue to provide financial support to the company until such time that the financial position improves. The directors therefore consider it appropriate to prepare the financial statements on a going concern basis.
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Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 January 2022
14,486
32,951
7,027
6,947
61,411
Additions
-
-
9,246
4,707
13,953
At 31 December 2022
14,486
32,951
16,273
11,654
75,364
At 1 January 2022
8,054
24,286
2,633
4,992
39,965
Charge for the year
643
2,166
1,870
2,531
7,210
At 31 December 2022
8,697
26,452
4,503
7,523
47,175
At 31 December 2022
5,789
6,499
11,770
4,131
28,189
At 31 December 2021
6,432
8,665
4,394
1,955
21,446
Amounts falling due within one year
Trade debtors
12,192
55,295
Deferred tax asset
1,339
-
Accrued income and prepayments
796
796
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Creditors: amounts falling due within one year
2022
2021
Bank loans and overdrafts
5,091
5,091
Obligations under finance leases and hire purchase contracts
2,452
7,035
Trade creditors
20,618
5,268
Amounts owed to group undertakings and other participating interests
5,350
10,277
Taxes and social security
8,522
7,006
Other creditors
27,885
15,008
Activon Projects Limited
Notes to the Accounts
for the year ended 31 December 2022
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Creditors: amounts falling due after more than one year
2022
2021
Obligations under finance leases and hire purchase contracts
-
2,448
At the Balance Sheet date the company owed the directors £17,319 (2021 - £15,008). this loan has been made on an interest free basis and no repayment terms have been set.
Dividends totaling £0 (2020 - £0) were paid in the year in respect of shares held by the company's directors
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Transactions with related parties
Included in trade creditors is an amount of £10,214 (2021: £2,083) owed to Activon Limited, a company in which S and O Bickerton are directors.
Included in other creditors is an amount of £5,350 (2021: £10,277) owed to Activon Limited.
The ultimate controlling party is Activon Limited, who own 100% of the issued share capital.
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Average number of employees
During the year the average number of employees was 4 (2021: 4).