Company Registration No. SC646068 (Scotland)
Activon Limited
Unaudited accounts
for the year ended 31 December 2022
Activon Limited
Statement of financial position
as at 31 December 2022
Tangible assets
10,720
13,400
Cash at bank and in hand
103
7
Creditors: amounts falling due within one year
(32,974)
(27,635)
Net current liabilities
(690)
(7,050)
Total assets less current liabilities
10,457
6,810
Creditors: amounts falling due after more than one year
(969)
(4,270)
Provisions for liabilities
Deferred tax
(2,037)
(2,546)
Net assets/(liabilities)
7,451
(6)
Called up share capital
1,000
1,000
Profit and loss account
6,451
(1,006)
Shareholders' funds
7,451
(6)
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 15 November 2023 and were signed on its behalf by
Mr S Bickerton
Director
Company Registration No. SC646068
Activon Limited
Notes to the Accounts
for the year ended 31 December 2022
Activon Limited is a private company, limited by shares, registered in Scotland, registration number SC646068. The registered office is Liberator House, Glasgow Prestwick Intl Airport, Prestwick, KA9 2PT, Scotland.
2
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.
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.
Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Trademarks 9 year straight line
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
25% reducing balance
Motor vehicles
20% reducing balance
Computer equipment
25% reducing balance
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.
Activon Limited
Notes to the Accounts
for the year ended 31 December 2022
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.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
4
Intangible fixed assets
Goodwill
5
Tangible fixed assets
Plant & machinery
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 January 2022
10,872
2,895
2,771
16,538
At 31 December 2022
10,872
2,895
2,771
16,538
At 1 January 2022
2,039
579
520
3,138
Charge for the year
1,767
463
450
2,680
At 31 December 2022
3,806
1,042
970
5,818
At 31 December 2022
7,066
1,853
1,801
10,720
At 31 December 2021
8,833
2,316
2,251
13,400
Activon Limited
Notes to the Accounts
for the year ended 31 December 2022
6
Investments
Subsidiary undertakings
Valuation at 1 January 2022
200
Valuation at 31 December 2022
200
Amounts falling due after more than one year
Trade debtors
15,102
7,451
Amounts due from group undertakings etc.
17,079
13,127
8
Creditors: amounts falling due within one year
2022
2021
Obligations under finance leases and hire purchase contracts
3,349
3,075
Loans from directors
26,445
23,031
9
Creditors: amounts falling due after more than one year
2022
2021
Obligations under finance leases and hire purchase contracts
969
4,270
Included in creditors is £26,196 (2021: £23,031) owed to the directors. The amount is unsecured, interest
free and has no fixed terms of repayment.
11
Transactions with related parties
Included in trade debtors is an amount of £10,214 (2021: £2,083) owed by Activon Projects Limited, and an amount of £4,888 (2021: £5,366) owed by Activon Electrical Limited.
Included in other debtors is an amount of £5,350 (2021: £10,277) owed by Activon Projects Limited, and an amount of £11,730 (2021: £2,850) owed by Activon Electrical Limited. Interest of 14.5% APR is receivable on loans to subsidiaries.
Both companies are 100% subsidiaries of Activon Limited.
12
Average number of employees
During the year the average number of employees was 2 (2021: 2).