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REGISTERED NUMBER: 09397583 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

AC TRANSLATIONS LIMITED

AC TRANSLATIONS LIMITED (REGISTERED NUMBER: 09397583)

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 December 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


AC TRANSLATIONS LIMITED

COMPANY INFORMATION
for the year ended 31 December 2023







DIRECTORS: M Iglesias
G T Frédéric





REGISTERED OFFICE: 39 High Street
Battle
East Sussex
TN33 0EE





REGISTERED NUMBER: 09397583 (England and Wales)





AUDITORS: BSR Bespoke
Chartered Accountants
Registered Auditors
Linden House
Linden Close
Tunbridge Wells
Kent
TN4 8HH

AC TRANSLATIONS LIMITED (REGISTERED NUMBER: 09397583)

BALANCE SHEET
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 47,425 45,279
47,425 45,279

CURRENT ASSETS
Debtors 6 2,561,985 2,462,348
Cash at bank 155,159 166,207
2,717,144 2,628,555
CREDITORS
Amounts falling due within one year 7 428,721 612,110
NET CURRENT ASSETS 2,288,423 2,016,445
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,335,848

2,061,724

PROVISIONS FOR LIABILITIES 8 11,856 8,614
NET ASSETS 2,323,992 2,053,110

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 2,323,991 2,053,109
SHAREHOLDERS' FUNDS 2,323,992 2,053,110

The 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.

The financial statements were approved by the Board of Directors and authorised for issue on 29 July 2024 and were signed on its behalf by:





M Iglesias - Director


AC TRANSLATIONS LIMITED (REGISTERED NUMBER: 09397583)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 December 2023


1. STATUTORY INFORMATION

AC Translations Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover is recognised when it is probable that future economic benefits will flow to the company from the services provided. This is considered to be when the services are delivered to the customer.

Turnover is recognised net of return and trade discounts and is shown exclusive of value added tax.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2015, has been fully amortised evenly over its useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - Straight line over 7 years
Computer equipment - Straight line over 5 years

Tangible fixed assets are initially measured at cost price, this can include transport, installation, legal and other such associated costs. After initial recognition the asset is subsequently measured under the cost model of cost, less depreciation, less any impairment losses.
Subsequent day-to-day servicing of the assets will be recognised in the profit or loss in the period they are incurred. Only subsequent expenditure that can provide an incremental benefit will be capitalised.

AC TRANSLATIONS LIMITED (REGISTERED NUMBER: 09397583)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2023


2. ACCOUNTING POLICIES - continued

Financial instruments
The company enters into basic financial instruments that give rise to financial assets and financial liabilities including trade and other debtors, trade and other creditors, bank and other borrowings and investments in non puttable equity instruments.

Debt instruments which are not payable or receivable within one year are initially accounted for at the transaction price and are subsequently accounted for at amortised cost using the effective interest method. Debt instruments payable and receivable within one year are measured at their undiscounted cash amounts. Where the debt instruments are treated as a financing transaction, then the financial asset or liability is measured at the present value of future cash flows based on a market rate of interest.

Equity instruments are accounted for at transaction price unless they can be accounted for at fair value based on a readily available transaction price. Alternatively, equity instruments are subsequently accounted for at cost less impairment where no fair value can be reasonably obtained.

Taxation
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.

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.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 61 (2022 - 56 ) .

AC TRANSLATIONS LIMITED (REGISTERED NUMBER: 09397583)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2023


4. INTANGIBLE FIXED ASSETS
Patents
and
Goodwill licences Totals
£    £    £   
COST
At 1 January 2023
and 31 December 2023 266,141 6 266,147
AMORTISATION
At 1 January 2023
and 31 December 2023 266,141 6 266,147
NET BOOK VALUE
At 31 December 2023 - - -
At 31 December 2022 - - -

The goodwill represents the amount paid to acquire a translator business on 17 March 2015.

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 January 2023 3,596 101,764 105,360
Additions - 20,309 20,309
At 31 December 2023 3,596 122,073 125,669
DEPRECIATION
At 1 January 2023 3,541 56,540 60,081
Charge for year 55 18,108 18,163
At 31 December 2023 3,596 74,648 78,244
NET BOOK VALUE
At 31 December 2023 - 47,425 47,425
At 31 December 2022 55 45,224 45,279

AC TRANSLATIONS LIMITED (REGISTERED NUMBER: 09397583)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2023


6. DEBTORS
31.12.23 31.12.22
£    £   
Amounts falling due within one year:
Trade debtors 72,073 513,478
Intercompany Debtors 2,348,766 -
Amounts owed by group undertakings 116,678 1,823,244
Tax - 74,675
VAT 11,458 -
Prepayments and accrued income 13,010 35,831
2,561,985 2,447,228

Amounts falling due after more than one year:
Other debtors - 15,120

Aggregate amounts 2,561,985 2,462,348

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 54,680 317,084
Intercompany creditors 103,747 -
Amounts owed to group undertakings - 33,870
Corporation tax 131,852 -
Social security and other taxes 57,318 -
VAT - 82,294
Other creditors 16,065 22,919
Accruals and deferred income 65,059 155,943
428,721 612,110

8. PROVISIONS FOR LIABILITIES
31.12.23 31.12.22
£    £   
Deferred tax 11,856 8,614

Deferred
tax
£   
Balance at 1 January 2023 8,614
Charge to Income Statement during year 3,242
Balance at 31 December 2023 11,856

AC TRANSLATIONS LIMITED (REGISTERED NUMBER: 09397583)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 December 2023


9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Neil Looseley (Senior Statutory Auditor)
for and on behalf of BSR Bespoke

10. ULTIMATE CONTROLLING PARTY

The controlling party is Questel Unite SAS.

11. GROUP ACCOUNTS

The company is included in the accounts of its parent, Morningside International LLC, a company registered in the United States.