Silverfin false false 30/04/2024 01/05/2023 30/04/2024 Richard John Bland 29/11/2021 Alan Francis Bond 29/11/2021 Kelly Louise Ellis 29/11/2021 David Jon Raynor 29/11/2021 Dr Timothy John Searle 29/11/2021 Charles Peter Thomson 29/11/2021 Stephen Michael Ward 29/11/2021 31 January 2025 The principal activity of the Company during the financial period was that of a holding company. 13770339 2024-04-30 13770339 bus:Director1 2024-04-30 13770339 bus:Director2 2024-04-30 13770339 bus:Director3 2024-04-30 13770339 bus:Director4 2024-04-30 13770339 bus:Director5 2024-04-30 13770339 bus:Director6 2024-04-30 13770339 bus:Director7 2024-04-30 13770339 2023-04-30 13770339 core:CurrentFinancialInstruments 2024-04-30 13770339 core:CurrentFinancialInstruments 2023-04-30 13770339 core:Non-currentFinancialInstruments 2024-04-30 13770339 core:Non-currentFinancialInstruments 2023-04-30 13770339 core:ShareCapital 2024-04-30 13770339 core:ShareCapital 2023-04-30 13770339 core:RetainedEarningsAccumulatedLosses 2024-04-30 13770339 core:RetainedEarningsAccumulatedLosses 2023-04-30 13770339 core:PatentsTrademarksLicencesConcessionsSimilar 2023-04-30 13770339 core:PatentsTrademarksLicencesConcessionsSimilar 2024-04-30 13770339 core:PlantMachinery 2023-04-30 13770339 core:Vehicles 2023-04-30 13770339 core:FurnitureFittings 2023-04-30 13770339 core:OfficeEquipment 2023-04-30 13770339 core:ComputerEquipment 2023-04-30 13770339 core:PlantMachinery 2024-04-30 13770339 core:Vehicles 2024-04-30 13770339 core:FurnitureFittings 2024-04-30 13770339 core:OfficeEquipment 2024-04-30 13770339 core:ComputerEquipment 2024-04-30 13770339 core:CostValuation 2023-04-30 13770339 core:CostValuation 2024-04-30 13770339 core:SubsidiariesWithMaterialNon-controllingInterests core:CurrentFinancialInstruments 2024-04-30 13770339 core:SubsidiariesWithMaterialNon-controllingInterests core:CurrentFinancialInstruments 2023-04-30 13770339 core:MoreThanFiveYears 2024-04-30 13770339 core:MoreThanFiveYears 2023-04-30 13770339 bus:OrdinaryShareClass1 2024-04-30 13770339 2023-05-01 2024-04-30 13770339 bus:FilletedAccounts 2023-05-01 2024-04-30 13770339 bus:SmallEntities 2023-05-01 2024-04-30 13770339 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 13770339 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 13770339 bus:Director1 2023-05-01 2024-04-30 13770339 bus:Director2 2023-05-01 2024-04-30 13770339 bus:Director3 2023-05-01 2024-04-30 13770339 bus:Director4 2023-05-01 2024-04-30 13770339 bus:Director5 2023-05-01 2024-04-30 13770339 bus:Director6 2023-05-01 2024-04-30 13770339 bus:Director7 2023-05-01 2024-04-30 13770339 core:PatentsTrademarksLicencesConcessionsSimilar core:TopRangeValue 2023-05-01 2024-04-30 13770339 core:PlantMachinery core:TopRangeValue 2023-05-01 2024-04-30 13770339 core:Vehicles core:TopRangeValue 2023-05-01 2024-04-30 13770339 core:FurnitureFittings core:TopRangeValue 2023-05-01 2024-04-30 13770339 core:OfficeEquipment core:TopRangeValue 2023-05-01 2024-04-30 13770339 core:ComputerEquipment core:TopRangeValue 2023-05-01 2024-04-30 13770339 2021-11-29 2023-04-30 13770339 core:PatentsTrademarksLicencesConcessionsSimilar 2023-05-01 2024-04-30 13770339 core:PlantMachinery 2023-05-01 2024-04-30 13770339 core:Vehicles 2023-05-01 2024-04-30 13770339 core:FurnitureFittings 2023-05-01 2024-04-30 13770339 core:OfficeEquipment 2023-05-01 2024-04-30 13770339 core:ComputerEquipment 2023-05-01 2024-04-30 13770339 core:CurrentFinancialInstruments 2023-05-01 2024-04-30 13770339 core:Non-currentFinancialInstruments 2023-05-01 2024-04-30 13770339 bus:OrdinaryShareClass1 2023-05-01 2024-04-30 13770339 bus:OrdinaryShareClass1 2021-11-29 2023-04-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: 13770339 (England and Wales)

ACTEA HOLDINGS LIMITED

Unaudited Financial Statements
For the financial year ended 30 April 2024
Pages for filing with the registrar

ACTEA HOLDINGS LIMITED

Unaudited Financial Statements

For the financial year ended 30 April 2024

Contents

ACTEA HOLDINGS LIMITED

STATEMENT OF FINANCIAL POSITION

As at 30 April 2024
ACTEA HOLDINGS LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 30 April 2024
Note 30.04.2024 30.04.2023
£ £
Restated - note 2
Fixed assets
Intangible assets 4 111,038 117,207
Tangible assets 5 275,999 238,592
Investments 6 5,527,500 5,527,500
5,914,537 5,883,299
Current assets
Debtors 7 71,258 0
Cash at bank and in hand 263,143 305,300
334,401 305,300
Creditors: amounts falling due within one year 8 ( 2,173,249) ( 1,489,517)
Net current liabilities (1,838,848) (1,184,217)
Total assets less current liabilities 4,075,689 4,699,082
Creditors: amounts falling due after more than one year 9 ( 4,071,577) ( 4,613,954)
Net assets 4,112 85,128
Capital and reserves
Called-up share capital 10 10 10
Profit and loss account 4,102 85,118
Total shareholders' funds 4,112 85,128

For the financial 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:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Actea Holdings Limited (registered number: 13770339) were approved and authorised for issue by the Board of Directors on 31 January 2025. They were signed on its behalf by:

Richard John Bland
Director
ACTEA HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
ACTEA HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial period, unless otherwise stated.

General information and basis of accounting

Actea Holdings Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 1f Long Acre, Saltash, PL12 6LZ, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Statement of Financial Position date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Statement of Financial Position date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Finance costs

Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Trademarks, patents and licences 20 years straight line
Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Plant and machinery 4 years straight line
Vehicles 5 years straight line
Fixtures and fittings 5 years straight line
Office equipment 3 years straight line
Computer equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

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 creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Prior year adjustment

During the current year, it was identified that the licencing fee invoices billed to the subsidiary company, Composite Integration Ltd, had been over-charged in the previous year to 30 April 2023.

As previously reported Adjustment As restated
Year ended 30 April 2023 £ £ £
Turnover (SIORE) 848,000 (540,000) 308,000
Tax on profit (SIORE) 66,868 (45,961) 20,907
Creditors: amounts falling due within one year (SoFP) 995,478 494,039 1,489,517

3. Employees

Year ended
30.04.2024
Period from
29.11.2021 to
30.04.2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 7 7

4. Intangible assets

Trademarks, patents
and licences
Total
£ £
Cost
At 01 May 2023 123,376 123,376
At 30 April 2024 123,376 123,376
Accumulated amortisation
At 01 May 2023 6,169 6,169
Charge for the financial year 6,169 6,169
At 30 April 2024 12,338 12,338
Net book value
At 30 April 2024 111,038 111,038
At 30 April 2023 117,207 117,207

5. Tangible assets

Plant and machinery Vehicles Fixtures and fittings Office equipment Computer equipment Total
£ £ £ £ £ £
Cost
At 01 May 2023 117,287 93,000 32,760 3,227 49,797 296,071
Additions 44,357 67,250 3,590 2,574 29,985 147,756
Disposals 0 ( 39,774) 0 0 0 ( 39,774)
At 30 April 2024 161,644 120,476 36,350 5,801 79,782 404,053
Accumulated depreciation
At 01 May 2023 20,292 18,600 6,148 1,076 11,363 57,479
Charge for the financial year 34,262 24,208 7,045 1,224 19,746 86,485
Disposals 0 ( 15,910) 0 0 0 ( 15,910)
At 30 April 2024 54,554 26,898 13,193 2,300 31,109 128,054
Net book value
At 30 April 2024 107,090 93,578 23,157 3,501 48,673 275,999
At 30 April 2023 96,995 74,400 26,612 2,151 38,434 238,592

6. Fixed asset investments

Investments in subsidiaries

30.04.2024
£
Cost
At 01 May 2023 5,527,500
At 30 April 2024 5,527,500
Carrying value at 30 April 2024 5,527,500
Carrying value at 30 April 2023 5,527,500

7. Debtors

30.04.2024 30.04.2023
£ £
Trade debtors 10,000 0
Prepayments 3,297 0
Corporation tax 45,961 0
Other debtors 12,000 0
71,258 0

8. Creditors: amounts falling due within one year

30.04.2024 30.04.2023
£ £
Amounts owed to own subsidiaries 1,549,848 832,244
Other loans 587,500 587,500
Accruals 5,091 17,066
Taxation and social security 30,810 52,707
2,173,249 1,489,517

There are no amounts included above in respect of which any security has been given by the small entity.

9. Creditors: amounts falling due after more than one year

30.04.2024 30.04.2023
£ £
Amounts owed to directors 424,992 424,992
Other loans 3,646,585 4,188,962
4,071,577 4,613,954

There are no amounts included above in respect of which any security has been given by the small entity.

Amounts repayable after more than 5 years are included in creditors falling due over one year:

30.04.2024 30.04.2023
£ £
Other loans (repayable by instalments) 400,000 550,000

10. Called-up share capital

30.04.2024 30.04.2023
£ £
Allotted, called-up and fully-paid
1,000 Ordinary shares of £ 0.01 each 10 10

11. Related party transactions

Transactions with entities in which the entity itself has a participating interest

As a Holding Company with wholly owned subsidiaries, the company has taken the advantage of the exemption contained in s. 1AC.35 of FRS102, and not disclosed transactions or balances with wholly owned group entities.

Transactions with the entity's directors

At the period end, the Directors were owed £424,992 (2023: £424,992) from the Company. No interest is charged on this balance and the loan is due to be repaid in 10 years.