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Registrar

Registration number: 08818819

Astralweb Technology Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2024

 

Astralweb Technology Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Astralweb Technology Limited

Company Information

Directors

J D C Thomas

Registered office

3 Warners Mill
Silks Way
Braintree
Essex
CM7 3GB

Bankers

Lloyds Bank PLC
1 Legg Street
Chelmsford
Essex
CM1 1JS

Accountants

Lambert Chapman LLP
Chartered accountants3 Warners Mill
Silks Way
Braintree
Essex
CM7 3GB

 

Astralweb Technology Limited

(Registration number: 08818819)
Balance Sheet as at 31 December 2024

Note

31 December
2024
£

31 December
2023
£

Current assets

 

Debtors

5

2,154,544

2,270,745

Cash at bank and in hand

 

32,843

47,816

 

2,187,387

2,318,561

Creditors: Amounts falling due within one year

6

(2,535,534)

(2,665,924)

Net liabilities

 

(348,147)

(347,363)

Capital and reserves

 

Called up share capital

1

1

Retained earnings

(348,148)

(347,364)

Shareholders' deficit

 

(348,147)

(347,363)

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

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 13 February 2025
 

J D C Thomas
Director

 

Astralweb Technology Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is: 3 Warners Mill, Silks Way, Braintree, Essex, CM7 3GB, England.

These financial statements were authorised for issue by the director on 13 February 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention.

These financial statements are presented in Sterling (£), which is the company's functional currency.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale and provision of software services in the ordinary course of the company’s activities supporting the energy sector. The company recognises revenue from customers on an accruals basis over the subscription period. Any proportion of the subscription fees received in advance are held in the balance sheet within accruals and deferred income.Turnover is shown net of value added tax, returns, rebates and discounts.

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.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

Current Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Astralweb Technology Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Deferred tax is recognised on material temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Trade debtors

Trade debtors are amounts due from customers for the sale and provision of software.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Share capital

Ordinary shares are classified as equity.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

4

Exceptional item

The exceptional item in the profit and loss account for the current and prior period relates to loans to related party companies which have been written off in that year.

 

Astralweb Technology Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

5

Debtors

Note

31 December
2024
£

31 December
2023
£

Trade debtors

 

1,500,588

1,668,265

Directors loan

7

36,494

9,319

Other debtors

 

617,462

593,161

 

2,154,544

2,270,745

6

Creditors

Creditors: amounts falling due within one year

31 December
2024
£

31 December
2023
£

Due within one year

Trade creditors

24,768

10,752

Taxation and social security

112,006

214,551

Accruals and deferred income

1,281,000

1,288,267

Other creditors

1,117,760

1,152,354

2,535,534

2,665,924

7

Related party transactions

Transactions with the director

2024

At 1 January 2024
£

Advances to director
£

Repayments by director
£

At 31 December 2024
£

Directors loan transactions

9,319

27,487

(312)

36,494

 

2023

At 1 April 2023
£

Advances to director
£

Repayments by director
£

At 31 December 2023
£

Directors loan transactions

(313)

10,036

(404)

9,319

 

Astralweb Technology Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

 

Loans to related parties

2024

Other related parties
£

Total
£

At start of period

1,152,354

1,152,354

Repaid

(34,594)

(34,594)

At end of period

1,117,760

1,117,760

Loans from related parties

2024

Other related parties
£

Total
£

At start of period

586,833

586,833

Advanced

30,628

30,628

At end of period

617,461

617,461