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REGISTERED NUMBER: 06102853 (England and Wales)













Unaudited Financial Statements

for the Year Ended 28 February 2023

for

Alcyomics Limited

Alcyomics Limited (Registered number: 06102853)






Contents of the Financial Statements
for the Year Ended 28 February 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Alcyomics Limited

Company Information
for the Year Ended 28 February 2023







DIRECTORS: R J Neal
A M Dickinson





SECRETARY: A M Dickinson





REGISTERED OFFICE: Bulman House
Regent Centre
Gosforth
Newcastle Upon Tyne
NE3 3LS





REGISTERED NUMBER: 06102853 (England and Wales)





ACCOUNTANTS: Clive Owen LLP
Chartered Accountants
Kepier House
Belmont Business Park
Durham
DH1 1TW

Alcyomics Limited (Registered number: 06102853)

Balance Sheet
28 February 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 385,607 385,607
Tangible assets 5 43,611 86,799
429,218 472,406

CURRENT ASSETS
Debtors 6 80,255 186,399
Cash at bank 13,041 20,489
93,296 206,888
CREDITORS
Amounts falling due within one year 7 325,851 327,115
NET CURRENT LIABILITIES (232,555 ) (120,227 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

196,663

352,179

CREDITORS
Amounts falling due after more than one
year

8

749,561

352,943
NET LIABILITIES (552,898 ) (764 )

CAPITAL AND RESERVES
Called up share capital 10 125 125
Share premium 299,975 299,975
Retained earnings (852,998 ) (300,864 )
SHAREHOLDERS' FUNDS (552,898 ) (764 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Alcyomics Limited (Registered number: 06102853)

Balance Sheet - continued
28 February 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit & Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 July 2023 and were signed on its behalf by:





A M Dickinson - Director


Alcyomics Limited (Registered number: 06102853)

Notes to the Financial Statements
for the Year Ended 28 February 2023

1. STATUTORY INFORMATION

Alcyomics Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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.

Going concern
The directors assess whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the company to continue as a going concern. The directors make this assessment in respect of a period of at least one year from the date the financial statements are approved.

The financial statements are prepared on the going concern basis which assumes that the company will continue to trade. If the company is unable to continue to trade, adjustments would be required to reduce the value of assets to their recoverable amounts, to provide for any further liabilities that might arise and to analyse long term liabilities as current liabilities.

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 conducted at a market rate.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Income Recognition
The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of four years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 20% on cost

Tangible fixed assets are included at cost less accumulated depreciation and impairment.

Alcyomics Limited (Registered number: 06102853)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

2. ACCOUNTING POLICIES - continued

Government grants
Revenue based grants have been credited to the profit and loss account in the period to which they relate.

Capital based grants are accounted for using the accruals model and have been transferred to a deferred credit and released to the profit and loss account over the useful life of the asset, as disclosed above.

Financial instruments
Basic financial instruments are recognised at amortised cost with changes recognised in profit and loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss Account, 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 balance sheet 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 10 ) .

Alcyomics Limited (Registered number: 06102853)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

4. INTANGIBLE FIXED ASSETS
Development
costs
£   
COST
At 1 March 2022
and 28 February 2023 385,607
NET BOOK VALUE
At 28 February 2023 385,607
At 28 February 2022 385,607

5. TANGIBLE FIXED ASSETS
Equipment
£   
COST
At 1 March 2022 258,002
Additions 5,857
At 28 February 2023 263,859
DEPRECIATION
At 1 March 2022 171,203
Charge for year 49,045
At 28 February 2023 220,248
NET BOOK VALUE
At 28 February 2023 43,611
At 28 February 2022 86,799

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 2,899 35,813
Other debtors 44,242 107,417
Prepayments and accrued income 33,114 43,169
80,255 186,399

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 60,004 80,982
Trade creditors 173,538 111,083
Taxation and social security 22,507 8,742
Other creditors 36,118 20,132
Directors' current accounts - 74,671
Accruals and deferred income 33,684 31,505
325,851 327,115

Alcyomics Limited (Registered number: 06102853)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years 60,004 80,982
Bank loans - 2-5 years 497,886 148,337
Bank loans more 5 yr by instal - 123,624
Directors' loan accounts 191,671 -
749,561 352,943

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 123,624

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank Loans 350,000 -

The loan is secured by a fixed and floating charge over the assets of the company.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1,000 Ordinary £0.10 100 100
188 Ordinary A £0.10 19 19
63 Ordinary B £0.10 6 6
125 125

11. RELATED PARTY DISCLOSURES

There were no related party transactions other than those concluded under normal market condition, except for those shown below:

2023 2022
£ £
Amounts due to directors 191,671 74,671
No interest has been charged.