1 January 2023 v2024.39.1 limited_company_frs_102_section_1a_v1_1_1 companies_houseSoftwarefalsetruetruetrueNo description of principal activityfalsetruexbrli:purexbrli:sharesiso4217:GBP027441972023-01-012023-12-31027441972023-12-31027441972022-12-3102744197core:WithinOneYear2023-12-3102744197core:WithinOneYear2022-12-3102744197core:ShareCapital2023-12-3102744197core:ShareCapital2022-12-3102744197core:RetainedEarningsAccumulatedLosses2023-12-3102744197core:RetainedEarningsAccumulatedLosses2022-12-3102744197bus:Director12023-01-012023-12-3102744197bus:RegisteredOffice2023-01-012023-12-3102744197core:NetGoodwill2023-01-012023-12-3102744197core:Goodwill2023-01-012023-12-3102744197core:OtherResidualIntangibleAssets2023-01-012023-12-3102744197core:PlantMachinery2023-01-012023-12-3102744197core:FurnitureFittings2023-01-012023-12-3102744197core:MotorVehicles2023-01-012023-12-31027441972022-01-012022-12-3102744197core:NetGoodwill2023-01-0102744197core:IntangibleAssetsOtherThanGoodwill2023-01-01027441972023-01-0102744197core:NetGoodwill2023-12-3102744197core:IntangibleAssetsOtherThanGoodwill2023-12-3102744197core:IntangibleAssetsOtherThanGoodwill2023-01-012023-12-3102744197core:NetGoodwill2022-12-3102744197core:IntangibleAssetsOtherThanGoodwill2022-12-3102744197core:PlantMachinery2023-01-0102744197core:PlantMachinery2023-12-3102744197core:PlantMachinery2022-12-3102744197core:AfterOneYear2023-12-3102744197core:AfterOneYear2022-12-310274419712023-01-012023-12-3102744197countries:EnglandWales2023-01-012023-12-3102744197bus:AuditExemptWithAccountantsReport2023-01-012023-12-3102744197bus:PrivateLimitedCompanyLtd2023-01-012023-12-3102744197bus:SmallEntities2023-01-012023-12-3102744197bus:FullAccounts2023-01-012023-12-31
Company registration number:
02744197
Anglotech Group Limited
Unaudited Filleted Financial Statements for the year ended
31 December 2023
Anglotech Group Limited
Report to the board of directors on the preparation of the unaudited statutory financial statements of Anglotech Group Limited
Year ended
31 December 2023
In order to assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the
financial statements
of
Anglotech Group Limited
for the year ended
31 December 2023
which comprise the income statement, statement of income and retained earnings, statement of financial position and related notes from the company’s accounting records and from information and explanations you have given me.
As a practising member of the Association of Chartered Certified Accountants, I am subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/​content/​dam/​ACCA_Global/​Members/​Doc/​rule/​2018-rulebook.pdf.
This report is made solely to the Board of Directors of
Anglotech Group Limited
, as a body. My work has been undertaken solely to prepare for your approval the
financial statements
of
Anglotech Group Limited
and state those matters that I have agreed to state to the Board of Directors of
Anglotech Group Limited
, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at https://www.accaglobal.com/​content/​dam/​ACCA_Global/​Technical/​fact/​technical-factsheet-163.pdf. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than
Anglotech Group Limited
and its Board of Directors, as a body, for my work or for this report.
It is your duty to ensure that
Anglotech Group Limited
has kept adequate accounting records and to prepare statutory
financial statements
that give a true and fair view of the assets, liabilities, financial position and profit of
Anglotech Group Limited
. You consider that
Anglotech Group Limited
is exempt from the statutory audit requirement for the year.
I have not been instructed to carry out an audit or a review of the financial statements of Anglotech Group Limited. For this reason, I have not verified the accuracy or completeness of the accounting records or information and explanations you have given to me and I do not, therefore, express any opinion on the statutory financial statements.
Lineham & Co Limited
39 Somerset Drive
Duston
Northamptonshire
NN5 6FA
United Kingdom
Date:
23 August 2024
Anglotech Group Limited
Statement of Financial Position
31 December 2023
20232022
Note££
Fixed assets    
Intangible assets 4
108,005
 
133,762
 
Tangible assets 5
7,242
 
24,053
 
115,247
 
157,815
 
Current assets    
Stocks
60,656
 
94,477
 
Debtors 6
1,889,091
 
1,205,793
 
Cash at bank and in hand
200,227
 
288,976
 
2,149,974
 
1,589,246
 
Creditors: amounts falling due within one year 7
(772,923
)
(660,347
)
Net current assets
1,377,051
 
928,899
 
Total assets less current liabilities 1,492,298   1,086,714  
Capital and reserves    
Called up share capital
100
 
100
 
Profit and loss account
1,492,198
 
1,086,614
 
Shareholders funds
1,492,298
 
1,086,714
 
For the 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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
  • The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
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 income statement has not been delivered.
These
financial statements
were approved by the board of directors and authorised for issue on
23 August 2024
, and are signed on behalf of the board by:
C Matthewson
Director
Company registration number:
02744197
Anglotech Group Limited
Notes to the Financial Statements
Year ended
31 December 2023

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
106-108 North Road
,
Darlington
,
DL1 2EQ
, England.

2 Accounting policies

Basis of preparation

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.

Going concern

After reviewing the company's forecasts and projections, which cover at least 12 months from the date of signing the financial statements, the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Thus, the directors continue to adopt the going concern basis of accounting in preparing the financial statements and the financial statements do not include any adjustments that would be necessary if the going concern basis was not appropriate.

Turnover

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

Current tax

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Goodwill

Goodwill, which represents the excess of cost of acquisitions of businesses over the value attributed to their net assets, is amortised through the profit and loss account by equal instalments over its estimated useful economic life of 5 - 10 years.

Intangible assets

Intangible assets are initially measured at cost and are subsequently measured at cost less any accumulated amortisation and accumulated impairment losses or at a revalued amount. However, Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Goodwill
Amortised over 10 years
Other intangible assets
Amortised over 4 years

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Plant and machinery
25% on cost
Fixtures and fittings
20% on reducing balance
Motor vehicles
20% on reducing balance

Government grants

Government grant income is presented within other operating income and recognised when there is a reasonable assurance that the grant conditions will be met and the grants will be received. Grants are accounted for under the accruals model as permitted by FRS102

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
- Basic financial assets
Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the financial asset is measured at the present value of the future receipts discounted at a market rate of interest.
- Classification of financial liabilities
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.
- Basic financial liabilities
Basic financial liabilities, including trade and other creditors are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

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.

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.

Operating leases

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

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.

3 Average number of employees

The average number of persons employed by the company during the year was
19
(2022:
21
).

4 Intangible assets

GoodwillOther intangible assetsTotal
£££
Cost      
At
1 January 2023
1,005,238
 
9,050
 
1,014,288
 
Disposals
(3,521
) -  
(3,521
)
At
31 December 2023
1,001,717
 
9,050
 
1,010,767
 
Amortisation      
At
1 January 2023
875,886
 
4,640
 
880,526
 
Charge
19,974
 
2,262
 
22,236
 
At
31 December 2023
895,860
 
6,902
 
902,762
 
Carrying amount      
At
31 December 2023
105,857
 
2,148
 
108,005
 
At 31 December 2022
129,352
 
4,410
 
133,762
 

5 Tangible assets

Plant and machinery etc.
£
Cost  
At
1 January 2023
347,495
 
Additions
149
 
Disposals
(22,000
)
At
31 December 2023
325,644
 
Depreciation  
At
1 January 2023
323,442
 
Charge
16,960
 
Disposals
(22,000
)
At
31 December 2023
318,402
 
Carrying amount  
At
31 December 2023
7,242
 
At 31 December 2022
24,053
 

6 Debtors

20232022
££
Trade debtors
428,013
 
382,158
 
Amounts owed by group undertakings and undertakings in which the company has a participating interest
1,235,310
 
679,237
 
Other debtors
225,768
 
144,398
 
1,889,091
 
1,205,793
 
The debtors above include the following amounts falling due after more than one year:
20232022
££
Other debtors
13,837
 
18,048
 

7 Creditors: amounts falling due within one year

20232022
££
Trade creditors
213,096
 
230,098
 
Taxation and social security
264,363
 
250,260
 
Other creditors
295,464
 
179,989
 
772,923
 
660,347
 

8 Directors' advances, credit and guarantees

Other debtors includes amounts totalling £83,873 (2022: £26,949) advanced to B Piercewright. The full amount is repayable on demand and no interest is charged. The balance at 31 December 2023 was repaid in full on 3 July 2023.

10 Controlling party

The company is a wholly owned subsidiary of Anglotech Group Holdings Limited, a company registered in England and Wales under registration number 11881687.
The company has a fixed and floating charge over its assets in relation to a commercial loan of the parent company.