2 2 Astral Tech Limited 05454483 false 2024-01-01 2024-12-31 2024-12-31 The principal activity of the company is web design and software development Digita Accounts Production Advanced 6.30.9574.0 true 05454483 2024-01-01 2024-12-31 05454483 2024-12-31 05454483 core:CurrentFinancialInstruments 2024-12-31 05454483 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 05454483 core:PatentsTrademarksLicencesConcessionsSimilar 2024-12-31 05454483 core:FurnitureFittingsToolsEquipment 2024-12-31 05454483 core:OtherPropertyPlantEquipment 2024-12-31 05454483 core:OtherRelatedParties 2024-12-31 05454483 1 2024-12-31 05454483 bus:SmallEntities 2024-01-01 2024-12-31 05454483 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 05454483 bus:FilletedAccounts 2024-01-01 2024-12-31 05454483 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 05454483 bus:RegisteredOffice 2024-01-01 2024-12-31 05454483 bus:Director1 2024-01-01 2024-12-31 05454483 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 05454483 bus:Agent1 2024-01-01 2024-12-31 05454483 core:PatentsTrademarksLicencesConcessionsSimilar 2024-01-01 2024-12-31 05454483 core:FurnitureFittingsToolsEquipment 2024-01-01 2024-12-31 05454483 core:OtherPropertyPlantEquipment 2024-01-01 2024-12-31 05454483 core:PlantMachinery 2024-01-01 2024-12-31 05454483 core:OtherRelatedParties 2024-01-01 2024-12-31 05454483 countries:AllCountries 2024-01-01 2024-12-31 05454483 1 2024-01-01 2024-12-31 05454483 2023-12-31 05454483 core:PatentsTrademarksLicencesConcessionsSimilar 2023-12-31 05454483 core:FurnitureFittingsToolsEquipment 2023-12-31 05454483 core:OtherPropertyPlantEquipment 2023-12-31 05454483 core:OtherRelatedParties 2023-12-31 05454483 1 2023-12-31 05454483 2023-04-01 2023-12-31 05454483 2023-12-31 05454483 core:CurrentFinancialInstruments 2023-12-31 05454483 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 05454483 core:FurnitureFittingsToolsEquipment 2023-12-31 05454483 core:OtherPropertyPlantEquipment 2023-12-31 05454483 1 2023-12-31 05454483 1 2023-04-01 2023-12-31 05454483 1 2023-03-31 xbrli:pure iso4217:GBP

Registrar

Registration number: 05454483

Astral Tech Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2024

 

Astral Tech Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Astral Tech 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

 

Astral Tech Limited

(Registration number: 05454483)
Balance Sheet as at 31 December 2024

Note

31 December
2024
£

31 December
2023
£

Fixed assets

 

Tangible assets

6

473

1,236

Current assets

 

Debtors

7

594,727

493,732

Cash at bank and in hand

 

2,889

10,547

 

597,616

504,279

Creditors: Amounts falling due within one year

8

(995,017)

(925,003)

Net current liabilities

 

(397,401)

(420,724)

Total assets less current liabilities

 

(396,928)

(419,488)

Provisions for liabilities

(118)

(309)

Net liabilities

 

(397,046)

(419,797)

Capital and reserves

 

Called up share capital

1,000

1,000

Share premium reserve

29,850

29,850

Retained earnings

(427,896)

(450,647)

Shareholders' deficit

 

(397,046)

(419,797)

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

 

Astral Tech 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 services in the ordinary course of the company’s activities of web design and software development.

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.

 

Astral Tech 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.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation.

Depreciation

Depreciation is charged so as to write off the cost or valuation of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and Machinery

15% reducing balance

Fixtures, fittings & equipment

20% or 33.33% straight line

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Intellectual property

10 years straight line

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2023 - 2).

 

Astral Tech Limited

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

4

Exceptional item

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

5

Intangible assets

Intellectual property
 £

Total
£

Cost or valuation

At 1 January 2024

70,000

70,000

At 31 December 2024

70,000

70,000

Amortisation

At 1 January 2024

70,000

70,000

At 31 December 2024

70,000

70,000

Carrying amount

At 31 December 2024

-

-

6

Tangible assets

Fixtures, fittings and equipment
£

Plant and machinery
£

Total
£

Cost or valuation

At 1 January 2024

11,217

1,550

12,767

At 31 December 2024

11,217

1,550

12,767

Depreciation

At 1 January 2024

10,252

1,279

11,531

Charge for the year

722

41

763

At 31 December 2024

10,974

1,320

12,294

Carrying amount

At 31 December 2024

243

230

473

At 31 December 2023

965

271

1,236

 

Astral Tech Limited

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

7

Debtors

Note

31 December
2024
£

31 December
2023
£

Directors loan

9

72,014

42,127

Prepayments and accrued income

 

136,480

11,296

Other debtors

 

386,233

440,309

 

594,727

493,732

8

Creditors

Creditors: amounts falling due within one year

31 December
2024
£

31 December
2023
£

Due within one year

Trade creditors

69,337

72,496

Taxation and social security

74,911

38,067

Accruals and deferred income

37,964

30,474

Other creditors

812,805

783,966

995,017

925,003

9

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

42,127

40,012

(10,125)

72,014

 

2023

At 1 April 2023
£

Advances to director
£

Repayments by director
£

At 31 December 2023
£

Directors loan transactions

22,127

37,201

(17,201)

42,127

 

Astral Tech 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

781,544

781,544

Advanced

28,887

28,887

At end of period

810,431

810,431

Loans from related parties

2024

Other related parties
£

Total
£

At start of period

426,091

426,091

Repaid

(39,857)

(39,857)

At end of period

386,234

386,234