REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2024 |
FOR |
ANB SENSORS LTD |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2024 |
FOR |
ANB SENSORS LTD |
ANB SENSORS LTD (REGISTERED NUMBER: 09526512) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
ANB SENSORS LTD |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30 APRIL 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
10 Jesus Lane |
Cambridge |
Cambridgeshire |
CB5 8BA |
ANB SENSORS LTD (REGISTERED NUMBER: 09526512) |
BALANCE SHEET |
30 APRIL 2024 |
2024 | 2023 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 10 |
Share premium |
Fair value reserve | 11 |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
ANB SENSORS LTD (REGISTERED NUMBER: 09526512) |
BALANCE SHEET - continued |
30 APRIL 2024 |
In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
ANB SENSORS LTD (REGISTERED NUMBER: 09526512) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 APRIL 2024 |
1. | STATUTORY INFORMATION |
ANB Sensors Ltd is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Turnover represents sales excluding VAT in respect of calibration-free pH measuring technologies. |
Tangible fixed assets |
Plant and machinery etc | - |
Items which would otherwise meet the definition of a fixed asset under the value of £2,000 are expensed through the profit and loss account. |
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 |
Basic financial assets and basic financial liabilities as defined under section 11 of FRS 102, including trade and other debtors, trade and other creditors, cash and bank balances and investments in commercial paper, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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. |
ANB SENSORS LTD (REGISTERED NUMBER: 09526512) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2024 |
3. | ACCOUNTING POLICIES - continued |
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. |
Research and development |
Expenditure on research and development is written off in the year in which it is incurred. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
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 on a straight line basis over the period of the lease. |
Grant funding |
Grant funding is recognised under the accruals method. |
- Grants relating to revenue shall be recognised in income on a systematic basis over the periods in which the the related costs for which the grant is intended to compensate. |
- A grant that becomes receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support with no future related costs shall be recognised in income in the period in which it becomes receivable. |
- Grants relating to assets shall be recognised in income on a systematic basis over the expected useful life of the asset. |
- Where part of a grant relating to an asset is deferred it shall be recognised as deferred income and not deducted from the carrying amount of the asset. |
ANB SENSORS LTD (REGISTERED NUMBER: 09526512) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2024 |
3. | ACCOUNTING POLICIES - continued |
Share-based payments |
Equity-settled share-based payments: |
Equity-settled share-based payments, such as share options granted under the Company's Enterprise Management Incentive (EMI) scheme, are measured at the fair value of the equity instruments at the grant date. |
The fair value determined at the grant date of the share scheme is charged to the profit and loss account over the vesting period, with a corresponding increase in equity. The amount recognised as an expense is adjusted to reflect the number of share options that are expected to vest based on the non-market vesting conditions. |
Vesting conditions: |
Vesting conditions, other than market conditions, are not considered when estimating the fair value of the shares or options at the grant date. Instead, these conditions are taken into account by adjusting the number of equity instruments expected to vest. |
Modification and cancellation: |
If the terms of an equity-settled share-based payment are modified, the minimum expense recognised is the original fair value of the grant unless the modification increases the total fair value of the share-based payment, in which case the increase is recognised over the remaining vesting period. |
If an equity-settled award is cancelled, it is treated as an acceleration of vesting, and the amount that would have been recognised over the remaining vesting period is recognised immediately. |
Other awards: |
Where equity instruments are granted to persons other than employees, the award is charged to the profit and loss and is based upon the fair value of the goods and services received. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
ANB SENSORS LTD (REGISTERED NUMBER: 09526512) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2024 |
5. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 May 2023 |
Disposals | ( |
) |
At 30 April 2024 |
DEPRECIATION |
At 1 May 2023 |
Charge for year |
Eliminated on disposal | ( |
) |
At 30 April 2024 |
NET BOOK VALUE |
At 30 April 2024 |
At 30 April 2023 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans |
Other creditors |
ANB SENSORS LTD (REGISTERED NUMBER: 09526512) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2024 |
9. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2024 | 2023 |
£ | £ |
Within one year |
Between one and five years |
10. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary | 0.01 | 2,505 | 2,412 |
11. | RESERVES |
Fair |
value |
reserve |
£ |
No description | 16,405 |
At 30 April 2024 |
12. | DEFERRED TAX |
A deferred tax asset has not been recognised with regard to trading losses on the basis that its recovery is not certain. |
13. | RESEARCH AND DEVELOPMENT WITHHOLDING TAX DEBTOR |
Included within other debtors is £29,780 (2023: £29,780) which can be utilised against future tax liabilities. The amount is not repayable. |
ANB SENSORS LTD (REGISTERED NUMBER: 09526512) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 APRIL 2024 |
14. | SHARE-BASED PAYMENTS |
The company issued share options to employees on 1st March 2023. The movements are as follows: |
Weighted average exercise price (pence 2023 |
) |
Number of shares under option 2023 |
Weighted average exercise price (pence 2022 |
) |
Number of shares under option 2022 |
Outstanding at beginning of the year | 1145 | 3616 | 1145 | 3616 |
Granted during the year |
Expired during the year |
Cancelled during the year | 180 |
Outstanding at the end of the year | 3436 | 3616 |
The total expense recognised in the profit and loss account for the year, in relation to share-based payments amounted to £18,673 (2023: £nil). This expense reflects the cost of share-based payment transactions, including any associated charges for equity-settled arrangements. |
At the balance sheet date, the fair value reserve carried forward in the balance sheet stands at £16,405 (2023: £nil). This reserve represents the cumulative fair value of share-based payment transactions that have been recognised in equity, reflecting the unexercised share options as of the reporting date. |