Caseware UK (AP4) 2022.0.179 2022.0.179 2023-12-312023-12-31true2023-01-01falsePurchase and sale of precious metals44trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 02273165 2023-01-01 2023-12-31 02273165 2022-01-01 2022-12-31 02273165 2023-12-31 02273165 2022-12-31 02273165 c:Director3 2023-01-01 2023-12-31 02273165 d:Buildings 2023-01-01 2023-12-31 02273165 d:Buildings 2023-12-31 02273165 d:Buildings 2022-12-31 02273165 d:Buildings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 02273165 d:PlantMachinery 2023-01-01 2023-12-31 02273165 d:PlantMachinery 2023-12-31 02273165 d:PlantMachinery 2022-12-31 02273165 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 02273165 d:FurnitureFittings 2023-01-01 2023-12-31 02273165 d:FurnitureFittings 2023-12-31 02273165 d:FurnitureFittings 2022-12-31 02273165 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 02273165 d:ComputerEquipment 2023-01-01 2023-12-31 02273165 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 02273165 d:PatentsTrademarksLicencesConcessionsSimilar 2023-01-01 2023-12-31 02273165 d:ComputerSoftware 2023-12-31 02273165 d:ComputerSoftware 2022-12-31 02273165 d:CurrentFinancialInstruments 2023-12-31 02273165 d:CurrentFinancialInstruments 2022-12-31 02273165 d:Non-currentFinancialInstruments 2023-12-31 02273165 d:Non-currentFinancialInstruments 2022-12-31 02273165 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 02273165 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 02273165 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 02273165 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 02273165 d:ShareCapital 2023-12-31 02273165 d:ShareCapital 2022-12-31 02273165 d:RetainedEarningsAccumulatedLosses 2023-12-31 02273165 d:RetainedEarningsAccumulatedLosses 2022-12-31 02273165 c:OrdinaryShareClass1 2023-01-01 2023-12-31 02273165 c:OrdinaryShareClass1 2023-12-31 02273165 c:OrdinaryShareClass1 2022-12-31 02273165 c:OrdinaryShareClass2 2023-01-01 2023-12-31 02273165 c:OrdinaryShareClass2 2023-12-31 02273165 c:OrdinaryShareClass2 2022-12-31 02273165 c:OrdinaryShareClass3 2023-01-01 2023-12-31 02273165 c:OrdinaryShareClass3 2023-12-31 02273165 c:OrdinaryShareClass3 2022-12-31 02273165 c:OrdinaryShareClass4 2023-01-01 2023-12-31 02273165 c:OrdinaryShareClass4 2023-12-31 02273165 c:OrdinaryShareClass4 2022-12-31 02273165 c:FRS102 2023-01-01 2023-12-31 02273165 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 02273165 c:FullAccounts 2023-01-01 2023-12-31 02273165 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 02273165 d:ComputerSoftware d:OwnedIntangibleAssets 2023-01-01 2023-12-31 02273165 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:shares xbrli:pure
Registered number: 02273165









ADVENT RESEARCH MATERIALS LIMITED

UNAUDITED

FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
ADVENT RESEARCH MATERIALS LIMITED
REGISTERED NUMBER: 02273165

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
7,300
13,000

Tangible assets
 5 
435,048
449,777

  
442,348
462,777

Current assets
  

Stocks
  
247,202
243,680

Debtors: amounts falling due within one year
 6 
57,727
37,552

Cash at bank and in hand
  
155,601
163,972

  
460,530
445,204

Creditors: amounts falling due within one year
 7 
(404,362)
(368,856)

Net current assets
  
 
 
56,168
 
 
76,348

Total assets less current liabilities
  
498,516
539,125

Creditors: amounts falling due after more than one year
 8 
(174,324)
(230,346)

Provisions for liabilities
  

Deferred tax
  
(5,687)
(8,582)

Net assets
  
318,505
300,197


Capital and reserves
  

Called up share capital 
 9 
100
100

Profit and loss account
  
318,405
300,097

  
318,505
300,197


Page 1

 
ADVENT RESEARCH MATERIALS LIMITED
REGISTERED NUMBER: 02273165

BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question 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 financial statements.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 2 April 2024.




................................................
C Goodfellow
Director

Page 2

 
ADVENT RESEARCH MATERIALS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Advent Research Materials Limited (02273165) is private company incorporated in the United Kingdom, limited by shares. The registered office is Oakfield Industrial Estate, Eynsham, Witney, Oxfordshire, OX29 4JA. The company's principal activity is that of the purchase and sale of metals.
The financial statements have been prepared in pounds sterling and are rounded to the nearest pound.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

 Amortisation is provided on the following bases:

Website
-
20%
per annum on the straight-line method

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 3

 
ADVENT RESEARCH MATERIALS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.4
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Freehold property
-
2%
Plant and machinery
-
25%
Fixtures and fittings
-
20%
Computer equipment
-
25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is 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.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. 

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank
loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.8

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Page 4

 
ADVENT RESEARCH MATERIALS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.9

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

 
2.10

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.11

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.12

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current Corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 5

 
ADVENT RESEARCH MATERIALS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2022 - 4).


4.


Intangible assets




Website

£



Cost


At 1 January 2023
28,500



At 31 December 2023

28,500



Amortisation


At 1 January 2023
15,500


Charge for the year on owned assets
5,700



At 31 December 2023

21,200



Net book value



At 31 December 2023
7,300



At 31 December 2022
13,000



Page 6

 
ADVENT RESEARCH MATERIALS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Tangible fixed assets





Freehold property
Plant and machinery
Fixtures, fittings & computer equipment
Total

£
£
£
£



Cost


At 1 January 2023
442,459
31,357
133,952
607,768


Additions
-
-
4,656
4,656



At 31 December 2023

442,459
31,357
138,608
612,424



Depreciation


At 1 January 2023
14,011
31,357
112,624
157,992


Charge for the year on owned assets
8,849
-
10,535
19,384



At 31 December 2023

22,860
31,357
123,159
177,376



Net book value



At 31 December 2023
419,599
-
15,449
435,048



At 31 December 2022
428,448
-
21,329
449,777


6.


Debtors

2023
2022
£
£


Trade debtors
46,779
26,436

Prepayments and accrued income
10,948
11,116

57,727
37,552


Page 7

 
ADVENT RESEARCH MATERIALS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
14,700
13,289

Trade creditors
39,825
37,914

Corporation tax
58,406
40,231

Other taxation and social security
18,760
12,592

Other creditors
191,530
186,539

Accruals and deferred income
81,141
78,291

404,362
368,856



8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
174,324
230,346


Secured creditors
The total amount of creditors for which security has been given amounted to £189,024 (2022 - £243,635). 
Bank loans are secured by way of fixed charge over the assets of the Company.


9.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



47 (2022 - 47) Ordinary A shares of £1.00 each
47
47
43 (2022 - 43) Ordinary A2 shares of £1.00 each
43
43
5 (2022 - 5) Ordinary B shares of £1.00 each
5
5
5 (2022 - 5) Ordinary C shares of £1.00 each
5
5

100

100



10.


Pension commitments

The Company operates defined contribution pension schemes. The assets of the schemes are held separately from those of the Company in independently administered funds. The pension cost charges represent contributions payable by the Company to the funds and amounted to £1,431 (2022 - £1,321). No contributions (2022 - none) were outstanding at the balance sheet date.


Page 8