Company registration number 11375854 (England and Wales)
ACTELLIGENT (U.K.) COMPANY LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
ACTELLIGENT (U.K.) COMPANY LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
ACTELLIGENT (U.K.) COMPANY LIMITED
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investments
3
1,532,233
1,460,403
Current assets
Debtors
4
39,106
2,260
Cash at bank and in hand
199
12
39,305
2,272
Creditors: amounts falling due within one year
5
(51,557)
(968,859)
Net current liabilities
(12,252)
(966,587)
Net assets
1,519,981
493,816
Capital and reserves
Called up share capital
6
226,964
212,306
Share premium account
2,115,269
868,888
Profit and loss reserves
(822,252)
(587,378)
Total equity
1,519,981
493,816

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 3 November 2024 and are signed on its behalf by:
S M C Lo
S M C Lo
Director
Company Registration No. 11375854
ACTELLIGENT (U.K.) COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -
1
Accounting policies
Company information

Actelligent (U.K.) Company Limited is a private company limited by shares incorporated in England and Wales. The registered office is 77 New Cavendish Street, London, W1W 6XB.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

1.4
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6
Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade debtors and creditors. These are measured at amortised cost and are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.

1.7
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

ACTELLIGENT (U.K.) COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 3 -
1.8
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
2
2
3
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
1,532,233
1,460,403
Movements in fixed asset investments
Shares in subsidiaries
£
Cost or valuation
At 1 April 2023
1,460,403
Additions
71,830
At 31 March 2024
1,532,233
Carrying amount
At 31 March 2024
1,532,233
At 31 March 2023
1,460,403
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
39,106
-
0
Prepayments and accrued income
-
0
2,260
39,106
2,260
ACTELLIGENT (U.K.) COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -
5
Creditors: amounts falling due within one year
2024
2023
£
£
Amounts owed to group undertakings
-
0
2,100
Other creditors
47,500
962,702
Accruals and deferred income
4,057
4,057
51,557
968,859
6
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
226,906
212,248
226,906
212,248
Ordinary shares of 1p each
5,784
5,784
58
58
232,690
218,032
226,964
212,306

During the year, the company issued 14,658 Ordinary shares of £1 each for a total consideration of £1,261,039. On 15 November 2023, the convertible loan, included within other creditors in the prior year, was converted to 12,088 Ordinary shares for a total consideration of £1,004,039. On the same date, a further 2,065 Ordinary shares of £1 each were issued for a total cash consideration of £206,500. On 15 February 2024, the company issued a further 505 Ordinary shares of £1 each for a total cash consideration of £50,500.

7
Subsidiaries

Details of the company's subsidiaries at 31 March 2024 are as follows:

Name of undertaking
Registered office
Nature of business
Class of
% Held
shares held
Direct
Actelligent (Scotland) Company Limited
83 Princes Street, Edinburgh, Lothian Region, Scotland, EH2 2ER
Financial intermediation
Ordinary
100.00
Actelligent Capital Management Limited
Hong Kong
Data and artificial intelligence services
Ordinary
100.00
Actelligent Company Limited
Hong Kong
Financial intermediation
Ordinary
98.06
The aggregate capital and reserves and the result for the year of the subsidiaries noted above was as follows:
Name of undertaking
Capital and Reserves
Profit/(Loss)
£
£
Actelligent (Scotland) Company Limited
(4,652)
(44,981)
Actelligent Capital Management Limited
(269,062)
(15,652)
Actelligent Company Limited
(47,957)
14,682
ACTELLIGENT (U.K.) COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
8
Related party transactions

The company has taken advantage of the exemptions within FRS102 section 1AC.35 (Related Party Disclosure) which allows exemption from the disclosure of related party transactions with other group companies.

 

During the year, the company made advances of £39,106 to a company under common control and received credits of £nil, resulting in a balance due to the company at the year end of £39,106 (2023 - £nil). The loan is unsecured and interest free with no fixed repayment terms in place.

 

During the year, the company received an advance from shareholders amounting to £47,500. This balance was converted to share capital post year end on 15 April 2024.

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