1 false false false false false false false false false false true false false false false false false No description of principal activity 2023-05-01 Sage Accounts Production Advanced 2023 - FRS102_2023 3,507 3,507 628,720 628,720 628,720 xbrli:pure xbrli:shares iso4217:GBP 01060620 2023-05-01 2024-04-30 01060620 2024-04-30 01060620 2023-04-30 01060620 2022-05-01 2023-04-30 01060620 2023-04-30 01060620 2022-04-30 01060620 bus:Director1 2023-05-01 2024-04-30 01060620 core:WithinOneYear 2024-04-30 01060620 core:WithinOneYear 2023-04-30 01060620 core:ShareCapital 2024-04-30 01060620 core:ShareCapital 2023-04-30 01060620 core:CapitalRedemptionReserve 2024-04-30 01060620 core:CapitalRedemptionReserve 2023-04-30 01060620 core:RetainedEarningsAccumulatedLosses 2024-04-30 01060620 core:RetainedEarningsAccumulatedLosses 2023-04-30 01060620 core:CostValuation core:Non-currentFinancialInstruments 2024-04-30 01060620 core:Non-currentFinancialInstruments 2024-04-30 01060620 core:Non-currentFinancialInstruments 2023-04-30 01060620 bus:SmallEntities 2023-05-01 2024-04-30 01060620 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 01060620 bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 01060620 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 01060620 bus:FullAccounts 2023-05-01 2024-04-30 01060620 core:ComputerEquipment 2024-04-30 01060620 core:ComputerEquipment 2023-05-01 2024-04-30 01060620 bus:Director1 2024-04-30 01060620 bus:Director1 2022-05-01 2023-04-30 01060620 bus:Director1 2023-04-30
COMPANY REGISTRATION NUMBER: 01060620
Achilles Investments Limited
Filleted Unaudited Financial Statements
For the year ended
30 April 2024
Achilles Investments Limited
Statement of Financial Position
30 April 2024
2024
2023
Note
£
£
£
£
Fixed assets
Investments
6
628,720
628,720
Current assets
Debtors
7
1,828
8,920
Cash at bank and in hand
171,244
136,358
---------
---------
173,072
145,278
Creditors: amounts falling due within one year
8
189,910
134,875
---------
---------
Net current (liabilities)/assets
( 16,838)
10,403
---------
---------
Total assets less current liabilities
611,882
639,123
---------
---------
Net assets
611,882
639,123
---------
---------
Capital and reserves
Called up share capital
54
54
Capital redemption reserve
46
46
Profit and loss account
611,782
639,023
---------
---------
Shareholders funds
611,882
639,123
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- 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 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Achilles Investments Limited
Statement of Financial Position (continued)
30 April 2024
These financial statements were approved by the board of directors and authorised for issue on 10 January 2025 , and are signed on behalf of the board by:
Mr S I Midgen
Director
Company registration number: 01060620
Achilles Investments Limited
Notes to the Financial Statements
Year ended 30 April 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Ground Floor, 3 Wellbrook Court, Girton, Cambridge, CB3 0NA.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Current asset investments are revalued to fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Revenue recognition
Turnover includes management fees and commissions receivable.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all material timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
33% on cost
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Tangible assets
Equipment
£
Cost
At 1 May 2023 and 30 April 2024
3,507
-------
Depreciation
At 1 May 2023 and 30 April 2024
3,507
-------
Carrying amount
At 30 April 2024
-------
At 30 April 2023
-------
6. Investments
Shares in participating interests
£
Cost
At 1 May 2023 and 30 April 2024
628,720
---------
Impairment
At 1 May 2023 and 30 April 2024
---------
Carrying amount
At 30 April 2024
628,720
---------
At 30 April 2023
628,720
---------
7. Debtors
2024
2023
£
£
Other debtors
1,828
8,920
-------
-------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Amounts owed to group undertakings
174,729
120,872
Social security and other taxes
91
1,713
Other creditors
15,090
12,290
---------
---------
189,910
134,875
---------
---------
9. Directors' advances, credits and guarantees
During the current and previous year the company operated a loan account on behalf of the directors. Interest has been charged at the HMRC official rate on any overdrawn balances exceeding £10,000. There are no repayment terms.
2024 2023
£ £
Advances 8,724 17,376
Repayments 16,105 9,993
Balance owed to company 2 7,383