Acorah Software Products - Accounts Production 15.0.600 false true true 31 December 2022 1 January 2022 false 1 January 2023 31 December 2023 31 December 2023 06581027 P D Churchill J D Shew P T Hemsley Quadrant Ventures Limited Quadrant Ventures Limited 67 South Street, Epsom, Surrey, KT18 7PY true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 06581027 2022-12-31 06581027 2023-12-31 06581027 2023-01-01 2023-12-31 06581027 frs-core:CurrentFinancialInstruments 2023-12-31 06581027 frs-core:CopyrightsPatentsTrademarksServiceOperatingRights 2023-12-31 06581027 frs-core:CopyrightsPatentsTrademarksServiceOperatingRights 2023-01-01 2023-12-31 06581027 frs-core:CopyrightsPatentsTrademarksServiceOperatingRights 2022-12-31 06581027 frs-core:FurnitureFittings 2023-12-31 06581027 frs-core:FurnitureFittings 2023-01-01 2023-12-31 06581027 frs-core:FurnitureFittings 2022-12-31 06581027 frs-core:PlantMachinery 2023-12-31 06581027 frs-core:PlantMachinery 2023-01-01 2023-12-31 06581027 frs-core:PlantMachinery 2022-12-31 06581027 frs-core:ShareCapital 2023-12-31 06581027 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31 06581027 frs-bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 06581027 frs-bus:FilletedAccounts 2023-01-01 2023-12-31 06581027 frs-bus:SmallEntities 2023-01-01 2023-12-31 06581027 frs-bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 06581027 frs-bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 06581027 frs-bus:OrdinaryShareClass1 2023-01-01 2023-12-31 06581027 frs-bus:OrdinaryShareClass1 2023-12-31 06581027 1 2023-01-01 2023-12-31 06581027 frs-bus:Director1 2023-01-01 2023-12-31 06581027 frs-bus:Director2 2023-01-01 2023-12-31 06581027 frs-bus:Director3 2023-01-01 2023-12-31 06581027 frs-bus:CompanySecretary1 2023-01-01 2023-12-31 06581027 frs-countries:EnglandWales 2023-01-01 2023-12-31 06581027 2021-12-31 06581027 2022-12-31 06581027 2022-01-01 2022-12-31 06581027 frs-core:CurrentFinancialInstruments 2022-12-31 06581027 frs-core:ShareCapital 2022-12-31 06581027 frs-core:RetainedEarningsAccumulatedLosses 2022-12-31 06581027 frs-bus:OrdinaryShareClass1 2022-01-01 2022-12-31
Registered number: 06581027
Aether Lighting Limited
Unaudited Financial Statements
For The Year Ended 31 December 2023
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 06581027
2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 11,423 15,317
Tangible Assets 5 3,773 8,357
15,196 23,674
CURRENT ASSETS
Stocks 6 124,594 141,498
Debtors 7 320,498 258,920
445,092 400,418
Creditors: Amounts Falling Due Within One Year 8 (1,204,483 ) (1,136,411 )
NET CURRENT ASSETS (LIABILITIES) (759,391 ) (735,993 )
TOTAL ASSETS LESS CURRENT LIABILITIES (744,195 ) (712,319 )
NET LIABILITIES (744,195 ) (712,319 )
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account (744,295 ) (712,419 )
SHAREHOLDERS' FUNDS (744,195) (712,319)
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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.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
P D Churchill
Director
22 July 2024
The notes on pages 3 to 6 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Aether Lighting Limited is a private company, limited by shares, incorporated in England & Wales, registered number 06581027 . The registered office is 67 South Street, Epsom, KT18 7PY.
The presentation currency of the financial statements is the Pound Sterling (£).
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
At the balance sheet date, the company had net liabilities. The directors have confirmed that the parent company will continue to financially support the company for the foreseeable future, and will not withdraw its loan to the detriment of the company or its other creditors. The company, with the support of its parent, is currently able to meet its liabilities as and when they fall due. For these reasons, the accounts are prepared on a going concern basis.  
2.3. Turnover
Turnover represents the amount derived from the provision of goods and services to third parties which fall within the company's ordinary activities, stated net of value added tax.
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.
2.4. Intangible Fixed Assets and Amortisation - Intellectual Property
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.
The intellectual property is amortised to the profit and loss account over its estimated economic life of 5 years.
2.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 3 years straight line
Fixtures & Fittings 3 years straight line
2.6. Stocks and Work in Progress
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, direct labour costs and those 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.
2.7. Foreign Currencies
Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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2.8. Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 material 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.
2.9. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees during the year was: 2 (2022: 4)
2 4
4. Intangible Assets
Intellectual Property
£
Cost
As at 1 January 2023 19,470
As at 31 December 2023 19,470
Amortisation
As at 1 January 2023 4,153
Provided during the period 3,894
As at 31 December 2023 8,047
Net Book Value
As at 31 December 2023 11,423
As at 1 January 2023 15,317
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5. Tangible Assets
Plant & Machinery Fixtures & Fittings Total
£ £ £
Cost
As at 1 January 2023 22,229 12,221 34,450
Disposals (18,589 ) (7,145 ) (25,734 )
As at 31 December 2023 3,640 5,076 8,716
Depreciation
As at 1 January 2023 19,565 6,528 26,093
Provided during the period 1,286 3,298 4,584
Disposals (18,589 ) (7,145 ) (25,734 )
As at 31 December 2023 2,262 2,681 4,943
Net Book Value
As at 31 December 2023 1,378 2,395 3,773
As at 1 January 2023 2,664 5,693 8,357
6. Stocks
2023 2022
£ £
Stock 124,594 141,498
7. Debtors
2023 2022
£ £
Due within one year
Trade debtors 313,649 248,820
Other debtors 6,849 10,100
320,498 258,920
8. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 47,961 56,592
Bank loans and overdrafts 336,548 238,643
Amounts owed to group undertakings 774,148 775,030
Other creditors 9,286 30,693
Taxation and social security 36,540 35,453
1,204,483 1,136,411
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9. Secured Creditors
The following secured debts are included within creditors:
2023
2022
£
£
Bank overdrafts
336,548
238,643
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image
National Westminster Bank PLC holds a fixed and floating charge over certain assets of the company.
10. Share Capital
2023 2022
Allotted, called up and fully paid £ £
100 Ordinary Shares of £ 1.00 each 100 100
11. Contingent Liabilities
The company has a cross guarantee with group companies in respect of borrowings from National Westminster Bank Plc. As at 31 December 2023 the company had borrowings of £336,548 directly (2022: £238,643) and the total group borrowings were £504,229 (2022: £359,627). The guarantee is secured with fixed and floating charge over all the property or undertaking of the company and group companies.
The company is part of a group VAT election and is therefore jointly and severally liable for the VAT liability of other group companies. The total group liability at the year end is £64,209 (2022: £70,158).
12. Ultimate Parent Undertaking and Controlling Party
The company's immediate and ultimate parent undertaking is Quadrant Ventures Limited whose registered office address is 67 South Street, Epsom, Surrey, KT18 7PY
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