Registrar
Registration number:
Astral Tech Limited
for the Year Ended 31 December 2024
Astral Tech Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Astral Tech Limited
Company Information
Directors |
J D C Thomas |
Registered office |
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Bankers |
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Accountants |
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Astral Tech Limited
(Registration number: 05454483)
Balance Sheet as at 31 December 2024
Note |
31 December |
31 December |
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Fixed assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current liabilities |
( |
( |
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Total assets less current liabilities |
( |
( |
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Provisions for liabilities |
( |
( |
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Net liabilities |
( |
( |
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Capital and reserves |
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Called up share capital |
1,000 |
1,000 |
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Share premium reserve |
29,850 |
29,850 |
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Retained earnings |
(427,896) |
(450,647) |
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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:
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
Approved and authorised by the
Director
Astral Tech Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
General information |
The company is a private company limited by share capital, incorporated in England & Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
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
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.
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Astral Tech Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
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.
Intangible assets |
Intellectual property |
Total |
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Cost or valuation |
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At 1 January 2024 |
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At 31 December 2024 |
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Amortisation |
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At 1 January 2024 |
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At 31 December 2024 |
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Carrying amount |
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At 31 December 2024 |
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Tangible assets |
Fixtures, fittings and equipment |
Plant and machinery |
Total |
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Cost or valuation |
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At 1 January 2024 |
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At 31 December 2024 |
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Depreciation |
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At 1 January 2024 |
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Charge for the year |
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At 31 December 2024 |
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Carrying amount |
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At 31 December 2024 |
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At 31 December 2023 |
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Astral Tech Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
Debtors |
Note |
31 December |
31 December |
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Directors loan |
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Prepayments and accrued income |
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Other debtors |
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Creditors |
Creditors: amounts falling due within one year
31 December |
31 December |
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Due within one year |
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Trade creditors |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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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 |
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( |
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2023 |
At 1 April 2023 |
Advances to director |
Repayments by director |
At 31 December 2023 |
Directors loan transactions |
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( |
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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 |
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Advanced |
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At end of period |
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Loans from related parties
2024 |
Other related parties |
Total |
At start of period |
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Repaid |
( |
( |
At end of period |
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