Company Registration No. 07051466 (England and Wales)
ACTRONICS LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
92 Station Road
Clacton on Sea
Essex
CO15 1SG
ACTRONICS LIMITED
CONTENTS
Page
Company information
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 9
ACTRONICS LIMITED
COMPANY INFORMATION
- 1 -
Directors
Mr T J H Jasink
Mr L K Staarman
Company number
07051466
Registered office
Unit 3 Brunel Court
Brunel Way
Severalls Industrial Park
Colchester
Essex
CO4 9XP
Auditor
TC Group
92 Station Road
Clacton on Sea
Essex
CO15 1SG
ACTRONICS LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 2 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
464,828
410,608
Current assets
Stocks
316,705
276,034
Debtors
4
900,435
931,612
Cash at bank and in hand
237,455
297,165
1,454,595
1,504,811
Creditors: amounts falling due within one year
5
(316,801)
(331,731)
Net current assets
1,137,794
1,173,080
Total assets less current liabilities
1,602,622
1,583,688
Creditors: amounts falling due after more than one year
6
(78,923)
(125,161)
Provisions for liabilities
(120,404)
(85,506)
Net assets
1,403,295
1,373,021
Capital and reserves
Called up share capital
7
1,100
1,100
Profit and loss reserves
1,402,195
1,371,921
Total equity
1,403,295
1,373,021
ACTRONICS LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2023
31 December 2023
- 3 -

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

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

The financial statements were approved by the board of directors and authorised for issue on 2 May 2024 and are signed on its behalf by:
Mr T J H Jasink
Director
Company Registration No. 07051466
The notes on pages 4 to 9 form part of these financial statements
ACTRONICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 4 -
1
Accounting policies
Company information

Actronics Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 3 Brunel Court, Brunel Way, Severalls Industrial Park, Colchester, Essex, CO4 9XP.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts and settlement discounts.

 

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation 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:

Plant and equipment
25% reducing balance/10% reducing balance
Fixtures and fittings
25% reducing balance
Computers
50% reducing balance
Motor vehicles
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

All other borrowing costs are recognised in profit or loss in the period in which they are incurred.

ACTRONICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 5 -
1.4
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, cost of production which includes a proportion of labour costs and overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.5
Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

ACTRONICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 6 -
1.7
Provisions

Provisions are recognised when the company has a legal or constructive present obligation as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

 

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting end date, taking into account the risks and uncertainties surrounding the obligation. Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value. When a provision is measured at present value, the unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

1.8
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.9
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.10
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

1.11
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

ACTRONICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 7 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
25
22
3
Tangible fixed assets
Plant and equipment
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 January 2023
332,525
224,739
25,973
241,613
824,850
Additions
94,417
8,927
6,713
84,643
194,700
Disposals
(33,543)
(1,513)
-
0
(86,649)
(121,705)
At 31 December 2023
393,399
232,153
32,686
239,607
897,845
Depreciation and impairment
At 1 January 2023
151,734
168,271
15,488
78,749
414,242
Depreciation charged in the year
30,663
9,200
6,358
46,338
92,559
Eliminated in respect of disposals
(29,206)
(1,258)
-
0
(43,320)
(73,784)
At 31 December 2023
153,191
176,213
21,846
81,767
433,017
Carrying amount
At 31 December 2023
240,208
55,940
10,840
157,840
464,828
At 31 December 2022
180,791
56,468
10,485
162,864
410,608
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
5,746
936
Amounts owed by group undertakings
84,063
85,926
Other debtors
239,606
210,187
329,415
297,049
2023
2022
ACTRONICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
4
Debtors
(Continued)
- 8 -
Amounts falling due after more than one year:
£
£
Amounts owed by group undertakings
571,020
634,563
Total debtors
900,435
931,612
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
73,897
75,023
Amounts owed to group undertakings
48,119
68,995
Taxation and social security
117,475
110,794
Other creditors
77,310
76,919
316,801
331,731

Other creditors include hire purchase liabilities of £46,238 (2022 £49,583) which are secured against the assets to which they relate.

 

6
Creditors: amounts falling due after more than one year
2023
2022
£
£
Other creditors
78,923
125,161

Other creditors include hire purchase liabilities of £78,923 (2022 £125,161) which are secured against the assets to which they relate.

7
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
of £1 each
1,100
1,100
1,100
1,100
ACTRONICS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 9 -
8
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Senior Statutory Auditor:
Simon Garner FCA
Statutory Auditor:
TC Group
9
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2023
2022
£
£
37,463
87,413
10
Directors' transactions

During the year a director of the company was advanced £90,743 by the company and repaid £61,079. At the balance sheet date, the director owed £114,221 (2022: £84,557) to the company. Interest was charged at a rate of 2%/2.25% on balances advanced.

11
Parent company

The company is controlled by Actronics BV, a company incorporated in the Netherlands. The address of Actronics BV is Bornerbroeksestraat 459F, 7609 PK Almelo, Overijssel, Netherlands.

2023-12-312023-01-01false02 May 2024CCH SoftwareCCH Accounts Production 2024.100No description of principal activityThis audit opinion is unqualifiedMr T J H JasinkMr L K Staarmanfalsefalse070514662023-01-012023-12-3107051466bus:Director12023-01-012023-12-3107051466bus:Director22023-01-012023-12-3107051466bus:RegisteredOffice2023-01-012023-12-31070514662023-12-31070514662022-12-3107051466core:PlantMachinery2023-12-3107051466core:FurnitureFittings2023-12-3107051466core:ComputerEquipment2023-12-3107051466core:MotorVehicles2023-12-3107051466core:PlantMachinery2022-12-3107051466core:FurnitureFittings2022-12-3107051466core:ComputerEquipment2022-12-3107051466core:MotorVehicles2022-12-3107051466core:CurrentFinancialInstrumentscore:WithinOneYear2023-12-3107051466core:CurrentFinancialInstrumentscore:WithinOneYear2022-12-3107051466core:CurrentFinancialInstruments2023-12-3107051466core:CurrentFinancialInstruments2022-12-3107051466core:Non-currentFinancialInstruments2023-12-3107051466core:Non-currentFinancialInstruments2022-12-3107051466core:ShareCapital2023-12-3107051466core:ShareCapital2022-12-3107051466core:RetainedEarningsAccumulatedLosses2023-12-3107051466core:RetainedEarningsAccumulatedLosses2022-12-3107051466core:PlantMachinery2023-01-012023-12-3107051466core:FurnitureFittings2023-01-012023-12-3107051466core:ComputerEquipment2023-01-012023-12-3107051466core:MotorVehicles2023-01-012023-12-31070514662022-01-012022-12-3107051466core:PlantMachinery2022-12-3107051466core:FurnitureFittings2022-12-3107051466core:ComputerEquipment2022-12-3107051466core:MotorVehicles2022-12-31070514662022-12-3107051466core:WithinOneYear2023-12-3107051466core:WithinOneYear2022-12-3107051466bus:PrivateLimitedCompanyLtd2023-01-012023-12-3107051466bus:SmallCompaniesRegimeForAccounts2023-01-012023-12-3107051466bus:FRS1022023-01-012023-12-3107051466bus:Audited2023-01-012023-12-3107051466bus:FullAccounts2023-01-012023-12-31xbrli:purexbrli:sharesiso4217:GBP