Registered number
08628185
Andromeda Solutions Limited
Filleted Accounts
31 July 2024
Andromeda Solutions Limited
Registered number: 08628185
Balance Sheet
as at 31 July 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 1,315 1,485
Tangible assets 4 18,216 27,790
19,531 29,275
Current assets
Debtors 5 283,173 241,979
Cash at bank and in hand 657,224 415,681
940,397 657,660
Creditors: amounts falling due within one year 6 (80,911) (55,655)
Net current assets 859,486 602,005
Total assets less current liabilities 879,017 631,280
Provisions for liabilities (4,554) (5,836)
Net assets 874,463 625,444
Capital and reserves
Called up share capital 1 1
Profit and loss account 874,462 625,443
Shareholder's funds 874,463 625,444
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Peter Summerhill
Director
Approved by the board on 4 October 2024
Andromeda Solutions Limited
Notes to the Accounts
for the year ended 31 July 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 3 years
Fixtures, fittings, tools and equipment over 4 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 8 6
3 Intangible fixed assets £
Goodwill:
Cost
At 1 August 2023 1,698
At 31 July 2024 1,698
Amortisation
At 1 August 2023 213
Provided during the year 170
At 31 July 2024 383
Net book value
At 31 July 2024 1,315
At 31 July 2023 1,485
Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years.
4 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 August 2023 31,628
Additions 596
At 31 July 2024 32,224
Depreciation
At 1 August 2023 3,838
Charge for the year 10,170
At 31 July 2024 14,008
Net book value
At 31 July 2024 18,216
At 31 July 2023 27,790
5 Debtors 2024 2023
£ £
Trade debtors 92,573 57,275
Other debtors 190,600 184,704
283,173 241,979
Amounts due after more than one year included above 188,000 183,000
6 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 80,375 55,655
Other creditors 536 -
80,911 55,655
7 Related party transactions
The company has loaned £188,000 to Andromeda Developments Limited which is under common control and directorship. This is a loan facility with a maximum of £200,000 which must be repaid by 1st January 2052. The loan is interest free and unsecured.
8 Other information
Andromeda Solutions Limited is a private company limited by shares and incorporated in England. Its registered office is:
Queensway House
Queensway
Middlesbrough
TS3 8TF
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