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REGISTERED NUMBER: 06102853 (England and Wales)













Unaudited Financial Statements

for the Year Ended 29 February 2024

for

Alcyomics Limited

Alcyomics Limited (Registered number: 06102853)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Alcyomics Limited

Company Information
for the Year Ended 29 February 2024







DIRECTORS: R J Neal
A M Dickinson





SECRETARY: A M Dickinson





REGISTERED OFFICE: The Biosphere Draymans Way
Newcastle Helix
Newcastle upon Tyne
NE4 5BX





REGISTERED NUMBER: 06102853 (England and Wales)





ACCOUNTANTS: Clive Owen LLP
Chartered Accountants
Kepier House
Belmont Business Park
Durham
DH1 1TW

Alcyomics Limited (Registered number: 06102853)

Balance Sheet
29 February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 385,607 385,607
Tangible assets 5 27,773 43,611
413,380 429,218

CURRENT ASSETS
Stocks 70,622 -
Debtors 6 167,032 80,255
Cash at bank 30,469 13,041
268,123 93,296
CREDITORS
Amounts falling due within one year 7 396,528 325,851
NET CURRENT LIABILITIES (128,405 ) (232,555 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

284,975

196,663

CREDITORS
Amounts falling due after more than one
year

8

897,822

749,561
NET LIABILITIES (612,847 ) (552,898 )

CAPITAL AND RESERVES
Called up share capital 11 125 125
Share premium 299,975 299,975
Retained earnings (912,947 ) (852,998 )
SHAREHOLDERS' FUNDS (612,847 ) (552,898 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 29 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.

Alcyomics Limited (Registered number: 06102853)

Balance Sheet - continued
29 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 Profit & Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 July 2024 and were signed on its behalf by:





A M Dickinson - Director


Alcyomics Limited (Registered number: 06102853)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Alcyomics 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.

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.

There were no material departures from that standard.

The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year and also have been consistently applied within the same accounts.

Going concern
The directors assess whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the company to continue as a going concern. The directors make this assessment in respect of a period of at least one year from the date the financial statements are approved.

The financial statements are prepared on the going concern basis which assumes that the company will continue to trade. If the company is unable to continue to trade, adjustments would be required to reduce the value of assets to their recoverable amounts, to provide for any further liabilities that might arise and to analyse long term liabilities as current liabilities.

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 conducted at a market rate.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Income Recognition
The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.

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

Development costs relate to intangible assets which are not yet complete and in use, therefore no amortisation has been charged.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Equipment - 20% on cost

Tangible fixed assets are included at cost less accumulated depreciation and impairment.

Alcyomics Limited (Registered number: 06102853)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

2. ACCOUNTING POLICIES - continued

Government grants
Revenue based grants have been credited to the profit and loss account in the period to which they relate.

Capital based grants are accounted for using the accruals model and have been transferred to a deferred credit and released to the profit and loss account over the useful life of the asset, as disclosed above.

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 instruments are recognised at amortised cost with changes recognised in profit and loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & 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.

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.

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 10 (2023 - 8 ) .

Alcyomics Limited (Registered number: 06102853)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

4. INTANGIBLE FIXED ASSETS
Development
costs
£   
COST
At 1 March 2023
and 29 February 2024 385,607
NET BOOK VALUE
At 29 February 2024 385,607
At 28 February 2023 385,607

5. TANGIBLE FIXED ASSETS
Equipment
£   
COST
At 1 March 2023 263,859
Additions 9,902
At 29 February 2024 273,761
DEPRECIATION
At 1 March 2023 220,248
Charge for year 25,740
At 29 February 2024 245,988
NET BOOK VALUE
At 29 February 2024 27,773
At 28 February 2023 43,611

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 28,709 2,899
Other debtors 70,190 44,242
Prepayments and accrued income 68,133 33,114
167,032 80,255

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 60,004 60,004
Other loans 86,311 -
Trade creditors 169,226 173,538
Taxation and social security 20,505 22,507
Other creditors 37,464 36,118
Accruals and deferred income 23,018 33,684
396,528 325,851

Alcyomics Limited (Registered number: 06102853)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years 60,004 60,004
Bank loans - 2-5 years 485,047 497,886
Directors' loan accounts 352,771 191,671
897,822 749,561

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 43,625 -

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank Loans 350,000 350,000
Other Loans 86,311 -
436,311 350,000

The bank loan and other loans are secured by fixed and floating charges over the assets of the company.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1,000 Ordinary £0.10 100 100
188 Ordinary A £0.10 19 19
63 Ordinary B £0.10 6 6
125 125

12. RELATED PARTY DISCLOSURES

There were no related party transactions other than those concluded under normal market condition, except for those shown below:

2024 2023
£ £
Amounts due to directors 352,771 191,761
No interest has been charged.