Silverfin false false 31/12/2023 01/01/2023 31/12/2023 L A Keets 01/02/2023 26/10/2020 M A Whitehurst 10/12/2018 P D Whitehurst 23/12/1996 23 July 2024 The principal activity of the Company during the financial year was to supply intelligent sensors and interfaces for the marine industry. 03295909 2023-12-31 03295909 bus:Director1 2023-12-31 03295909 bus:Director2 2023-12-31 03295909 bus:Director3 2023-12-31 03295909 2022-12-31 03295909 core:CurrentFinancialInstruments 2023-12-31 03295909 core:CurrentFinancialInstruments 2022-12-31 03295909 core:Non-currentFinancialInstruments 2023-12-31 03295909 core:Non-currentFinancialInstruments 2022-12-31 03295909 core:ShareCapital 2023-12-31 03295909 core:ShareCapital 2022-12-31 03295909 core:RetainedEarningsAccumulatedLosses 2023-12-31 03295909 core:RetainedEarningsAccumulatedLosses 2022-12-31 03295909 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill 2022-12-31 03295909 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill 2023-12-31 03295909 core:LandBuildings 2022-12-31 03295909 core:PlantMachinery 2022-12-31 03295909 core:FurnitureFittings 2022-12-31 03295909 core:OfficeEquipment 2022-12-31 03295909 core:LandBuildings 2023-12-31 03295909 core:PlantMachinery 2023-12-31 03295909 core:FurnitureFittings 2023-12-31 03295909 core:OfficeEquipment 2023-12-31 03295909 2023-01-01 2023-12-31 03295909 bus:FilletedAccounts 2023-01-01 2023-12-31 03295909 bus:SmallEntities 2023-01-01 2023-12-31 03295909 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 03295909 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 03295909 bus:Director1 2023-01-01 2023-12-31 03295909 bus:Director2 2023-01-01 2023-12-31 03295909 bus:Director3 2023-01-01 2023-12-31 03295909 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill core:TopRangeValue 2023-01-01 2023-12-31 03295909 core:LandBuildings 2023-01-01 2023-12-31 03295909 core:PlantMachinery 2023-01-01 2023-12-31 03295909 core:FurnitureFittings 2023-01-01 2023-12-31 03295909 core:OfficeEquipment 2023-01-01 2023-12-31 03295909 2022-01-01 2022-12-31 03295909 core:Non-standardIntangibleAssetClass1ComponentIntangibleAssetsOtherThanGoodwill 2023-01-01 2023-12-31 03295909 core:Non-currentFinancialInstruments 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Company No: 03295909 (England and Wales)

ACTIVE RESEARCH LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2023
Pages for filing with the registrar

ACTIVE RESEARCH LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2023

Contents

ACTIVE RESEARCH LIMITED

BALANCE SHEET

As at 31 December 2023
ACTIVE RESEARCH LIMITED

BALANCE SHEET (continued)

As at 31 December 2023
Note 2023 2022
£ £
Fixed assets
Intangible assets 3 0 1,234
Tangible assets 4 79,921 71,882
79,921 73,116
Current assets
Stocks 5 953,845 1,076,748
Debtors 6 256,964 305,493
Cash at bank and in hand 84,987 207,084
1,295,796 1,589,325
Creditors: amounts falling due within one year 7 ( 387,721) ( 511,822)
Net current assets 908,075 1,077,503
Total assets less current liabilities 987,996 1,150,619
Creditors: amounts falling due after more than one year 8 ( 36,018) ( 58,738)
Net assets 951,978 1,091,881
Capital and reserves
Called-up share capital 16,500 16,500
Profit and loss account 935,478 1,075,381
Total shareholders' funds 951,978 1,091,881

For the financial year ending 31 December 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Active Research Limited (registered number: 03295909) were approved and authorised for issue by the Board of Directors on 23 July 2024. They were signed on its behalf by:

P D Whitehurst
Director
ACTIVE RESEARCH LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
ACTIVE RESEARCH LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Active Research Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 21 Harwell Road, Poole, BH17 0GE, England, United Kingdom.

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 items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Employee benefits

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

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Website costs 5 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Land and buildings 15 % reducing balance
Plant and machinery 20 % reducing balance
Fixtures and fittings 20 % reducing balance
Office equipment 20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 29 27

3. Intangible assets

Website costs Total
£ £
Cost
At 01 January 2023 18,650 18,650
At 31 December 2023 18,650 18,650
Accumulated amortisation
At 01 January 2023 17,416 17,416
Charge for the financial year 1,234 1,234
At 31 December 2023 18,650 18,650
Net book value
At 31 December 2023 0 0
At 31 December 2022 1,234 1,234

4. Tangible assets

Land and buildings Plant and machinery Fixtures and fittings Office equipment Total
£ £ £ £ £
Cost
At 01 January 2023 13,821 220,222 15,710 10,575 260,328
Additions 0 23,787 2,489 0 26,276
At 31 December 2023 13,821 244,009 18,199 10,575 286,604
Accumulated depreciation
At 01 January 2023 3,835 166,564 9,657 8,390 188,446
Charge for the financial year 1,498 14,867 1,434 438 18,237
At 31 December 2023 5,333 181,431 11,091 8,828 206,683
Net book value
At 31 December 2023 8,488 62,578 7,108 1,747 79,921
At 31 December 2022 9,986 53,658 6,053 2,185 71,882

5. Stocks

2023 2022
£ £
Stocks 953,845 1,076,748

6. Debtors

2023 2022
£ £
Trade debtors 79,446 117,109
Corporation tax 89,664 76,064
Other debtors 87,854 112,320
256,964 305,493

7. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans and overdrafts 80,560 22,727
Trade creditors 168,032 362,464
Other taxation and social security 40,407 31,556
Other creditors 98,722 95,075
387,721 511,822

8. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans 36,018 58,738

There are no amounts included above in respect of which any security has been given by the small entity.