IRIS Accounts Production v24.3.0.553 10625771 Board of Directors 1.3.23 29.2.24 29.2.24 false true false false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh106257712023-02-28106257712024-02-29106257712023-03-012024-02-29106257712022-02-28106257712022-03-012023-02-28106257712023-02-2810625771ns15:EnglandWales2023-03-012024-02-2910625771ns14:PoundSterling2023-03-012024-02-2910625771ns10:Director12023-03-012024-02-2910625771ns10:PrivateLimitedCompanyLtd2023-03-012024-02-2910625771ns10:SmallEntities2023-03-012024-02-2910625771ns10:AuditExempt-NoAccountantsReport2023-03-012024-02-2910625771ns10:SmallCompaniesRegimeForDirectorsReport2023-03-012024-02-2910625771ns10:SmallCompaniesRegimeForAccounts2023-03-012024-02-2910625771ns10:FullAccounts2023-03-012024-02-291062577112023-03-012024-02-2910625771ns10:OrdinaryShareClass12023-03-012024-02-2910625771ns10:Director22023-03-012024-02-2910625771ns10:RegisteredOffice2023-03-012024-02-2910625771ns5:CurrentFinancialInstruments2024-02-2910625771ns5:CurrentFinancialInstruments2023-02-2810625771ns5:Non-currentFinancialInstruments2024-02-2910625771ns5:Non-currentFinancialInstruments2023-02-2810625771ns5:ShareCapital2024-02-2910625771ns5:ShareCapital2023-02-2810625771ns5:RetainedEarningsAccumulatedLosses2024-02-2910625771ns5:RetainedEarningsAccumulatedLosses2023-02-2810625771ns5:IntangibleAssetsOtherThanGoodwill2023-03-012024-02-2910625771ns5:ComputerSoftware2023-03-012024-02-2910625771ns5:FurnitureFittings2023-03-012024-02-2910625771ns5:ComputerEquipment2023-03-012024-02-2910625771ns5:IntangibleAssetsOtherThanGoodwill2023-02-2810625771ns5:IntangibleAssetsOtherThanGoodwill2024-02-2910625771ns5:IntangibleAssetsOtherThanGoodwill2023-02-2810625771ns5:FurnitureFittings2023-02-2810625771ns5:ComputerEquipment2023-02-2810625771ns5:FurnitureFittings2024-02-2910625771ns5:ComputerEquipment2024-02-2910625771ns5:FurnitureFittings2023-02-2810625771ns5:ComputerEquipment2023-02-2810625771ns5:CostValuation2023-02-2810625771ns5:WithinOneYearns5:CurrentFinancialInstruments2024-02-2910625771ns5:WithinOneYearns5:CurrentFinancialInstruments2023-02-2810625771ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2024-02-2910625771ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2023-02-2810625771ns10:OrdinaryShareClass12024-02-29
REGISTERED NUMBER: 10625771 (England and Wales)









UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29TH FEBRUARY 2024

FOR

ADDITIVE MANUFACTURING 3D TECHNOLOGY LTD

ADDITIVE MANUFACTURING 3D TECHNOLOGY LTD (REGISTERED NUMBER: 10625771)






CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 29th February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ADDITIVE MANUFACTURING 3D TECHNOLOGY LTD

COMPANY INFORMATION
For The Year Ended 29th February 2024







DIRECTORS: L P Monte
L J Monte





REGISTERED OFFICE: Waldon House
Unit 23C Mandale Park
Belmont Industrial Estate
Durham
DH1 1TH





REGISTERED NUMBER: 10625771 (England and Wales)





ACCOUNTANTS: Stafford Accountancy
The Yard Suite 2.2
Gill Bridge Avenue
Sunderland
Tyne and Wear
SR1 3AW

ADDITIVE MANUFACTURING 3D TECHNOLOGY LTD (REGISTERED NUMBER: 10625771)

BALANCE SHEET
29th February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 31,417 39,607
Tangible assets 5 86,318 167,973
Investments 6 100 100
117,835 207,680

CURRENT ASSETS
Debtors 7 246,318 189,550
Cash at bank 3,545 11,636
249,863 201,186
CREDITORS
Amounts falling due within one year 8 369,512 306,678
NET CURRENT LIABILITIES (119,649 ) (105,492 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(1,814

)

102,188

CREDITORS
Amounts falling due after more than one
year

9

(59,486

)

(33,814

)

PROVISIONS FOR LIABILITIES (23,325 ) (31,916 )
NET (LIABILITIES)/ASSETS (84,625 ) 36,458

CAPITAL AND RESERVES
Called up share capital 11 10 10
Retained earnings (84,635 ) 36,448
SHAREHOLDERS' FUNDS (84,625 ) 36,458

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29th February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29th February 2024 in accordance with Section 476 of the Companies Act 2006.

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.

ADDITIVE MANUFACTURING 3D TECHNOLOGY LTD (REGISTERED NUMBER: 10625771)

BALANCE SHEET - continued
29th February 2024


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 11th October 2024 and were signed on its behalf by:





L P Monte - Director


ADDITIVE MANUFACTURING 3D TECHNOLOGY LTD (REGISTERED NUMBER: 10625771)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 29th February 2024

1. STATUTORY INFORMATION

Additive Manufacturing 3D Technology Ltd 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.

Despite having net current liabilities at 28 February 2024, the Directors have reviewed the cash flow forecasts for future periods and are confident the company will be able to meet all of its liabilities when they fall due, for the foreseeable future.

Turnover
Turnover represents management fees charged to group entities, in addition to the sale of 3D printers and associated servicing. Turnover excludes value added tax.

In respect of goods sold, turnover is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.

In respect of services, turnover is recognised in line with the delivery of services.

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.

Website development is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Fixtures and fittings - 20% on cost
Computer equipment - 25% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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.


ADDITIVE MANUFACTURING 3D TECHNOLOGY LTD (REGISTERED NUMBER: 10625771)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 29th February 2024

2. 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.

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.

Assets acquired under finance leases are capitalised and depreciated over the shorter of the lease term and the expected useful life of the asset. Minimum lease payments are apportioned between the finance charge and the reduction of the outstanding lease liability. The related obligations, net of future finance charges are included in creditors.

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.

Government grants
Grants are recognised within the financial statements in the period where there is reasonable
assurance that the grant conditions will be met and that all conditions attaching to the grant will be
complied with.

When the grant relates to an expense, it is recognised as income over the years necessary to match the grant on a systematic basis to the costs that it intends to compensate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 13 ) .

ADDITIVE MANUFACTURING 3D TECHNOLOGY LTD (REGISTERED NUMBER: 10625771)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 29th February 2024

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1st March 2023
and 29th February 2024 48,450
AMORTISATION
At 1st March 2023 8,843
Charge for year 8,190
At 29th February 2024 17,033
NET BOOK VALUE
At 29th February 2024 31,417
At 28th February 2023 39,607

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1st March 2023 6,925 308,038 314,963
Disposals - (12,064 ) (12,064 )
At 29th February 2024 6,925 295,974 302,899
DEPRECIATION
At 1st March 2023 1,436 145,554 146,990
Charge for year 1,386 72,226 73,612
Eliminated on disposal - (4,021 ) (4,021 )
At 29th February 2024 2,822 213,759 216,581
NET BOOK VALUE
At 29th February 2024 4,103 82,215 86,318
At 28th February 2023 5,489 162,484 167,973

ADDITIVE MANUFACTURING 3D TECHNOLOGY LTD (REGISTERED NUMBER: 10625771)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 29th February 2024

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1st March 2023
and 29th February 2024 100
NET BOOK VALUE
At 29th February 2024 100
At 28th February 2023 100

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed from group 245,593 189,550
VAT 725 -
246,318 189,550

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 28,354 4,999
Other loans 309,140 264,140
Hire purchase contracts 15,348 -
Trade creditors 1,389 2,789
Social security and other taxes (13 ) 5,237
VAT - 13,421
Other creditors 229 1,975
Directors' current accounts 13,428 12,028
Accrued expenses 1,637 2,089
369,512 306,678

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 35,459 33,814
Hire purchase contracts 24,027 -
59,486 33,814

ADDITIVE MANUFACTURING 3D TECHNOLOGY LTD (REGISTERED NUMBER: 10625771)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 29th February 2024

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 39,375 -

Hire purchase liabilities are secured on the assets to which the agreement relates.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
10 Ordinary £1 10 10

12. RELATED PARTY DISCLOSURES

During the financial year, loan funds of £51,000 were drawn down from a shareholder of the company and loan funds of £6,000 were repaid. At the balance sheet date, the company owed £309,140 (2023: £264,140) to the shareholder. No interest is accruing on the balance.