Caseware UK (AP4) 2023.0.135 2023.0.135 2024-09-302024-09-30truetrue32023-10-01falsedesign and manufacture of powder metallurgy applications3The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 14337475 2023-10-01 2024-09-30 14337475 2022-10-01 2023-09-30 14337475 2024-09-30 14337475 2023-09-30 14337475 2022-10-01 14337475 c:Director1 2023-10-01 2024-09-30 14337475 d:PlantMachinery 2023-10-01 2024-09-30 14337475 d:PlantMachinery 2024-09-30 14337475 d:PlantMachinery 2023-09-30 14337475 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 14337475 d:FurnitureFittings 2023-10-01 2024-09-30 14337475 d:OfficeEquipment 2023-10-01 2024-09-30 14337475 d:OfficeEquipment 2024-09-30 14337475 d:OfficeEquipment 2023-09-30 14337475 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 14337475 d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 14337475 d:CurrentFinancialInstruments 2024-09-30 14337475 d:CurrentFinancialInstruments 2023-09-30 14337475 d:CurrentFinancialInstruments d:WithinOneYear 2024-09-30 14337475 d:CurrentFinancialInstruments d:WithinOneYear 2023-09-30 14337475 d:ShareCapital 2024-09-30 14337475 d:ShareCapital 2023-09-30 14337475 d:RetainedEarningsAccumulatedLosses 2024-09-30 14337475 d:RetainedEarningsAccumulatedLosses 2023-09-30 14337475 d:AcceleratedTaxDepreciationDeferredTax 2024-09-30 14337475 d:AcceleratedTaxDepreciationDeferredTax 2023-09-30 14337475 d:TaxLossesCarry-forwardsDeferredTax 2024-09-30 14337475 d:TaxLossesCarry-forwardsDeferredTax 2023-09-30 14337475 c:FRS102 2023-10-01 2024-09-30 14337475 c:AuditExempt-NoAccountantsReport 2023-10-01 2024-09-30 14337475 c:FullAccounts 2023-10-01 2024-09-30 14337475 c:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 14337475 e:PoundSterling 2023-10-01 2024-09-30 iso4217:GBP xbrli:pure

Registered number: 14337475










ACANTECS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

 
ACANTECS LIMITED
REGISTERED NUMBER: 14337475

BALANCE SHEET
AS AT 30 SEPTEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
35,122
19,644

Current assets
  

Stocks
  
9,000
-

Debtors: amounts falling due within one year
 5 
37,150
12,827

Cash at bank and in hand
  
6,763
12,720

  
52,913
25,547

Creditors: amounts falling due within one year
 7 
(47,728)
(30,966)

Net current assets/(liabilities)
  
 
 
5,185
 
 
(5,419)

Total assets less current liabilities
  
40,307
14,225

Provisions for liabilities
  

Deferred tax
 8 
(6,673)
(3,181)

Net assets
  
33,634
11,044


Capital and reserves
  

Called up share capital 
  
3
3

Profit and loss account
  
33,631
11,041

  
33,634
11,044


Page 1

 
ACANTECS LIMITED
REGISTERED NUMBER: 14337475
    
BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 13 March 2025.




J Schofield
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
ACANTECS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1.


General information

Acantecs Limited is a private Company limited by shares, incorporated in England and Wales (registered number: 14337475). Its registered office is Matrix@Dinnington, Nobel Way, Sheffield, England, S25 3QB. The principal activity of the Company throughout the year continued to be that of a designing and manafacturing service using powder metallurgy technologies.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise
specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting
Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies
Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than
where additional disclosure is required to show a true and fair view.

The Company's functional and presentation currency is pounds sterling.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. 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.

Page 3

 
ACANTECS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.3

Grant Income

Grants relating to expenditure on tangible fixed assets are credited to the Statement of Income and
Retained Earnings at the same rate as the depreciation on the assets to which the grant relates. The
deferred element of grants is included in creditors as deferred income. 
Grants of a revenue nature are recognised in the Statement of Income and Retained Earnings in the
same period as the related expenditure.

 
2.4

Current and deferred taxation

Tax is recognised in the Statement of Income and Retained Earnings.  

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date in the countries where the Company operates and generates income
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.


 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is provided on the following basis:

Plant and machinery
-
15%
Reducing balance
Fixtures and fittings
-
25%
Reducing balance
Office equipment
-
33%
Straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Income and Retained Earnings

Page 4

 
ACANTECS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.6

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each Balance Sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the Statement of Income and Retained Earnings.

 
2.7

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities such as bank and cash balances, trade and other accounts receivable and payable, loans from banks and other third parties and loans to and from related parties.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at the transaction price and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2023 - 3).

Page 5

 
ACANTECS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

4.


Tangible fixed assets





Plant and machinery
Office equipment
Total

£
£
£



Cost or valuation


At 1 October 2023
23,004
-
23,004


Additions
21,438
929
22,367



At 30 September 2024

44,442
929
45,371



Depreciation


At 1 October 2023
3,360
-
3,360


Charge for the year on owned assets
6,583
306
6,889



At 30 September 2024

9,943
306
10,249



Net book value



At 30 September 2024
34,499
623
35,122



At 30 September 2023
19,644
-
19,644


5.


Debtors

2024
2023
£
£


Trade debtors
37,150
12,708

Other debtors
-
119

37,150
12,827



6.


Current asset investments




Page 6

 
ACANTECS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
18,472
8,187

Corporation tax
6,744
-

Other taxation and social security
8,529
3,499

Other creditors
13,983
19,280

47,728
30,966



8.


Deferred taxation




2024
2023


£

£






At beginning of year
3,181
-


Charged to the Statement of Income and Retained Earnngs
3,492
3,181



At end of year
6,673
3,181

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
6,673
3,732

Tax losses carried forward
-
(551)

6,673
3,181

 
Page 7