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Company No: 07642245 (England and Wales)

ABERLINK LIMITED

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

ABERLINK LIMITED

Unaudited Financial Statements

For the financial year ended 30 June 2024

Contents

ABERLINK LIMITED

BALANCE SHEET

As at 30 June 2024
ABERLINK LIMITED

BALANCE SHEET (continued)

As at 30 June 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 3 0 166,667
Tangible assets 4 1,240,697 1,215,904
Investments 5 667,201 553,833
1,907,898 1,936,404
Current assets
Stocks 1,329,699 1,489,087
Debtors 6 1,873,231 1,293,616
Cash at bank and in hand 5,565,997 5,783,721
8,768,927 8,566,424
Creditors: amounts falling due within one year 7 ( 816,261) ( 1,340,285)
Net current assets 7,952,666 7,226,139
Total assets less current liabilities 9,860,564 9,162,543
Provision for liabilities ( 46,026) ( 55,237)
Net assets 9,814,538 9,107,306
Capital and reserves
Called-up share capital 8 100 100
Profit and loss account 9,814,438 9,107,206
Total shareholder's funds 9,814,538 9,107,306

For the financial year ending 30 June 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 Aberlink Limited (registered number: 07642245) were approved and authorised for issue by the Board of Directors on 07 February 2025. They were signed on its behalf by:

R Cook
Director
ABERLINK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2024
ABERLINK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 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 year, unless otherwise stated.

General information and basis of accounting

Aberlink 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 Aberlink, Eastcombe, Stroud, GL6 7DY, England, 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 £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

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.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

•the company has transferred the significant risks and rewards of ownership to the buyer;
•the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
•the amount of revenue can be measured reliably;
•it is probable that the company will receive the consideration due under the transaction; and
•the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

•the amount of revenue can be measured reliably;
•it is probable that the company will receive the consideration due under the contract;
•the stage of completion of the contract at the end of the reporting period can be measured reliably; and
•the costs incurred and the costs to complete the contract can be measured reliably.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Employee benefits

Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised as an expense when the Company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

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 Balance Sheet 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 5 years straight line
Trademarks, patents and licences

Separately acquired patents and trademarks are included at cost and amortised in equal annual instalments over a period of 5 years which is their estimated useful economic life. Provision is made for any impairment.

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:

Land and buildings not depreciated
Plant and machinery 5 years straight line
Vehicles 4 years straight line
Fixtures and fittings 4 years straight line
Other property, plant and 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 Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Financial assets
An asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

For financial assets carried at amortised cost, the amount of impairment is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate.

For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

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.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Research and development expenditure

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight line basis over their useful economic lives, which range from 3 to 6 years.

If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 42 42

3. Intangible assets

Trademarks, patents
and licences
Total
£ £
Cost
At 01 July 2023 2,000,000 2,000,000
At 30 June 2024 2,000,000 2,000,000
Accumulated amortisation
At 01 July 2023 1,833,333 1,833,333
Charge for the financial year 166,667 166,667
At 30 June 2024 2,000,000 2,000,000
Net book value
At 30 June 2024 0 0
At 30 June 2023 166,667 166,667

4. Tangible assets

Land and buildings Plant and machinery Vehicles Fixtures and fittings Other property, plant
and equipment
Total
£ £ £ £ £ £
Cost
At 01 July 2023 1,083,938 699,579 242,475 7,732 104,807 2,138,531
Additions 127,256 7,525 14,679 0 10,100 159,560
Disposals 0 0 ( 8,592) 0 ( 43,300) ( 51,892)
At 30 June 2024 1,211,194 707,104 248,562 7,732 71,607 2,246,199
Accumulated depreciation
At 01 July 2023 208,948 458,729 159,923 6,503 88,524 922,627
Charge for the financial year 31,501 62,803 29,424 378 10,111 134,217
Disposals 0 0 ( 8,592) 0 ( 42,750) ( 51,342)
Rounding 0 0 0 0 0 0
At 30 June 2024 240,449 521,532 180,755 6,881 55,885 1,005,502
Net book value
At 30 June 2024 970,745 185,572 67,807 851 15,722 1,240,697
At 30 June 2023 874,990 240,850 82,552 1,229 16,283 1,215,904

5. Fixed asset investments

Other investments Total
£ £
Cost or valuation before impairment
At 01 July 2023 553,833 553,833
Movement in fair value 113,368 113,368
At 30 June 2024 667,201 667,201
Carrying value at 30 June 2024 667,201 667,201
Carrying value at 30 June 2023 553,833 553,833

6. Debtors

2024 2023
£ £
Trade debtors 1,124,551 1,047,420
Amounts owed by Group undertakings 709,525 166,607
Prepayments 39,155 39,899
VAT recoverable 0 39,690
1,873,231 1,293,616

7. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 615,141 621,450
Accruals 25,758 592,632
Taxation and social security 168,418 118,144
Other creditors 6,944 8,059
816,261 1,340,285

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

8. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

9. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

2024 2023
£ £
within one year 213 1,492
between one and five years 0 213
213 1,705