Caseware UK (AP4) 2022.0.179 2022.0.179 2023-08-312023-08-312022-08-03false71121- Engineering design activities for industrial process and production30falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 14273222 2022-08-02 14273222 2022-08-03 2023-08-31 14273222 2021-08-03 2022-08-02 14273222 2023-08-31 14273222 c:Director1 2022-08-03 2023-08-31 14273222 d:OfficeEquipment 2022-08-03 2023-08-31 14273222 d:OfficeEquipment 2023-08-31 14273222 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-08-03 2023-08-31 14273222 d:ComputerEquipment 2022-08-03 2023-08-31 14273222 d:ComputerEquipment 2023-08-31 14273222 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-08-03 2023-08-31 14273222 d:OtherPropertyPlantEquipment 2022-08-03 2023-08-31 14273222 d:OtherPropertyPlantEquipment 2023-08-31 14273222 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2022-08-03 2023-08-31 14273222 d:OwnedOrFreeholdAssets 2022-08-03 2023-08-31 14273222 d:PatentsTrademarksLicencesConcessionsSimilar 2022-08-03 2023-08-31 14273222 d:PatentsTrademarksLicencesConcessionsSimilar 2023-08-31 14273222 d:CurrentFinancialInstruments 2023-08-31 14273222 d:CurrentFinancialInstruments d:WithinOneYear 2023-08-31 14273222 d:ShareCapital 2023-08-31 14273222 d:SharePremium 2023-08-31 14273222 d:RetainedEarningsAccumulatedLosses 2023-08-31 14273222 c:OrdinaryShareClass1 2022-08-03 2023-08-31 14273222 c:OrdinaryShareClass1 2023-08-31 14273222 c:FRS102 2022-08-03 2023-08-31 14273222 c:AuditExempt-NoAccountantsReport 2022-08-03 2023-08-31 14273222 c:FullAccounts 2022-08-03 2023-08-31 14273222 c:PrivateLimitedCompanyLtd 2022-08-03 2023-08-31 14273222 d:PatentsTrademarksLicencesConcessionsSimilar d:ExternallyAcquiredIntangibleAssets 2022-08-03 2023-08-31 14273222 2 2022-08-03 2023-08-31 14273222 d:PatentsTrademarksLicencesConcessionsSimilar d:OwnedIntangibleAssets 2022-08-03 2023-08-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 14273222









ACX INSTRUMENTS LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 AUGUST 2023

 
ACX INSTRUMENTS LTD
REGISTERED NUMBER: 14273222

BALANCE SHEET
AS AT 31 AUGUST 2023

2023
Note
£

FIXED ASSETS
  

Intangible assets
 4 
7,473

Tangible assets
 5 
6,066

  
13,539

CURRENT ASSETS
  

Debtors: amounts falling due within one year
 6 
44,458

Cash at bank and in hand
  
217,924

  
262,382

Creditors: amounts falling due within one year
 7 
(34,576)

NET CURRENT ASSETS
  
 
 
227,806

TOTAL ASSETS LESS CURRENT LIABILITIES
  
241,345

  

NET ASSETS
  
241,345


CAPITAL AND RESERVES
  

Called up share capital 
 8 
1

Share premium account
  
891,581

Profit and loss account
  
(650,237)

  
241,345


Page 1

 
ACX INSTRUMENTS LTD
REGISTERED NUMBER: 14273222
    
BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 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 period 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 by: 



J Li
Director

Date: 6 February 2024

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
ACX INSTRUMENTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2023

1.


GENERAL INFORMATION

ACX Instruments Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is St John's Innovation Centre, Cowley Road, Cambridge, CB4 0WS.
The Company was incorporated on 3rd August 2022 and trading commenced on that day.

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

GOING CONCERN

Although the Company made a loss during the period, the directors have a reasonable expectation
that the Company will continue to receive financial support from its shareholders and directors and
therefore has adequate resources to continue in operational existence for the foreseeable future.
Accordingly, the financial statements have been prepared on a going concern basis.

 
2.3

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 3

 
ACX INSTRUMENTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2023

2.ACCOUNTING POLICIES (CONTINUED)

 
2.4

TURNOVER

Turnover is measured at the fair value of the consideration received or receivable for goods supplied
and services rendered, net of discounts and Value Added Tax.

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.

 
2.5

INTEREST INCOME

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

PENSION

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.

 
2.7

TAXATION

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 income 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.

Page 4

 
ACX INSTRUMENTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2023

2.ACCOUNTING POLICIES (CONTINUED)

 
2.8

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.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 The estimated useful lives range as follows:

Patents
-
10
years

 
2.9

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.

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:

Office equipment
-
33%
straight-line
Computer equipment
-
33%
straight-line
Lab equipment
-
20%
straight-line

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.

 
2.10

DEBTORS

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.11

CASH AND CASH EQUIVALENTS

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 5

 
ACX INSTRUMENTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2023

2.ACCOUNTING POLICIES (CONTINUED)

 
2.12

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.


3.


EMPLOYEES

The average monthly number of employees, including directors, during the period was 3.


4.


INTANGIBLE ASSETS



Patents

£



COST


Additions
7,632



At 31 August 2023

7,632



AMORTISATION


Charge for the period on owned assets
159



At 31 August 2023

159



NET BOOK VALUE



At 31 August 2023
7,473



Page 6

 
ACX INSTRUMENTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2023

5.


TANGIBLE FIXED ASSETS





Office equipment
Computer equipment
Lab equipment
Total

£
£
£
£



COST OR VALUATION


Additions
640
4,595
2,310
7,545



At 31 August 2023

640
4,595
2,310
7,545



DEPRECIATION


Charge for the period on owned assets
125
1,007
347
1,479



At 31 August 2023

125
1,007
347
1,479



NET BOOK VALUE



At 31 August 2023
515
3,588
1,963
6,066


6.


DEBTORS

2023
£


Amounts owed by group undertakings
481

Other debtors
6,066

Prepayments and accrued income
37,911

44,458


Page 7

 
ACX INSTRUMENTS LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2023

7.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023
£

Trade creditors
616

Other taxation and social security
9,191

Other creditors
15

Accruals and deferred income
24,754

34,576


Included in other creditors are contributions of £15 payable to the Company's defined contribution pension scheme at the balance sheet date. 


8.


SHARE CAPITAL

2023
£
ALLOTTED, CALLED UP AND FULLY PAID


100 Ordinary shares of £0.01 each
1


On incorporation, 100 ordinary £0.01 shares were issued for a total consideration of £891,582.


9.OTHER FINANCIAL COMMITMENTS

At the balance sheet date the Company had other financial commitments totalling £15,000 in respect of operating lease agreements into which it had entered. 

 
Page 8