Company registration number 08935045 (England and Wales)
ANTARES INSTALLATIONS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
ANTARES INSTALLATIONS LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 8
ANTARES INSTALLATIONS LTD
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
24,112
31,106
Current assets
Stocks
67,147
67,896
Debtors
5
220,144
220,273
Cash at bank and in hand
33,521
18,467
320,812
306,636
Creditors: amounts falling due within one year
6
(417,791)
(376,155)
Net current liabilities
(96,979)
(69,519)
Total assets less current liabilities
(72,867)
(38,413)
Creditors: amounts falling due after more than one year
7
(43,076)
(46,635)
Net liabilities
(115,943)
(85,048)
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
(116,043)
(85,148)
Total equity
(115,943)
(85,048)
ANTARES INSTALLATIONS LTD
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2024
31 March 2024
- 2 -

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

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

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved and signed by the director and authorised for issue on 15 April 2025
Mark Crofts
Director
Company Registration No. 08935045
ANTARES INSTALLATIONS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
1
Accounting policies
Company information

Antares Installations Ltd is a private company limited by shares, incorporated in England and Wales. The registered office is 36 Tyndall Court, Commerce Road, Lynch Wood, Peterborough, PE2 6LR.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Going concern

These financial statements are prepared on the going concern basis. The director has a reasonable expectation that the company will continue in operational existence for the foreseeable future. However, the director is aware of certain material uncertainties which may cause doubt on the company's ability to continue as a going concern and the company is reliant on the ongoing financial support of its bankers and suppliers. true

1.3
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.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures, fittings & equipment
20% Net book value
Computer equipment
25% Net book value
Motor vehicles
25% Net book value

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

ANTARES INSTALLATIONS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 4 -
1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.6
Stocks

Stocks is valued at the lower of cost or net realisable value.

1.7
Cash at bank and in hand

Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets and liabilities

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

 

Other financial liabilities, including bank loans, are measured initially at fair value, net of transactions costs and are subsequently measured at amortised cost using the effective interest rate,

1.9
Equity instruments

Equity instruments being the share capital issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

1.10
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

ANTARES INSTALLATIONS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 5 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.11
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

1.12
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.13
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

1.14
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

ANTARES INSTALLATIONS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 6 -
3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
5
4
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2023
148,559
Additions
3,000
Disposals
(15,800)
At 31 March 2024
135,759
Depreciation and impairment
At 1 April 2023
117,453
Depreciation charged in the year
7,930
Eliminated in respect of disposals
(13,736)
At 31 March 2024
111,647
Carrying amount
At 31 March 2024
24,112
At 31 March 2023
31,106
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
65,791
24,173
Gross amounts owed by contract customers
14,855
22,101
Corporation tax recoverable
37,501
37,501
Other debtors
101,842
136,344
Prepayments and accrued income
155
154
220,144
220,273
ANTARES INSTALLATIONS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 7 -
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
993
5,556
Obligations under finance leases
4,211
3,902
Trade creditors
294,131
292,623
Corporation tax
50,190
49,510
Other taxation and social security
49,803
20,061
Other creditors
11,382
190
Accruals and deferred income
7,081
4,313
417,791
376,155

Net obligations under finance lease and hire purchase contracts are secured by fixed charges on the assets concerned. The aggregate amount of creditors for which security has been given amounted to £4,211 (2023 - £3,902).

7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
37,249
36,574
Obligations under finance leases
5,736
9,947
Government grants
91
114
43,076
46,635

Net obligations under finance lease and hire purchase contracts are secured by fixed charges on the assets concerned. The aggregate amount of creditors for which security has been given amounted to £5,736 (2023 - £9,947).

8
Operating lease commitments

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
2023
£
£
-
0
907
ANTARES INSTALLATIONS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 8 -
9
Directors' transactions

Loans have been granted by the company to its directors as follows:

Description
% Rate
Opening balance
Amounts advanced
Amounts repaid
Closing balance
£
£
£
£
Directors Loan
-
97,375
39,532
(66,350)
70,557
97,375
39,532
(66,350)
70,557
2024-03-312023-04-01false15 April 2025CCH SoftwareCCH Accounts Production 2024.200No description of principal activityM Croftsfalsefalse089350452023-04-012024-03-31089350452024-03-31089350452023-03-3108935045core:OtherPropertyPlantEquipment2024-03-3108935045core:OtherPropertyPlantEquipment2023-03-3108935045core:CurrentFinancialInstrumentscore:WithinOneYear2024-03-3108935045core:CurrentFinancialInstrumentscore:WithinOneYear2023-03-3108935045core:CurrentFinancialInstruments2024-03-3108935045core:CurrentFinancialInstruments2023-03-3108935045core:Non-currentFinancialInstruments2024-03-3108935045core:Non-currentFinancialInstruments2023-03-3108935045core:ShareCapital2024-03-3108935045core:ShareCapital2023-03-3108935045core:RetainedEarningsAccumulatedLosses2024-03-3108935045core:RetainedEarningsAccumulatedLosses2023-03-3108935045bus:Director12023-04-012024-03-3108935045core:FurnitureFittings2023-04-012024-03-3108935045core:ComputerEquipment2023-04-012024-03-3108935045core:MotorVehicles2023-04-012024-03-31089350452022-04-012023-03-3108935045core:OtherPropertyPlantEquipment2023-03-3108935045core:OtherPropertyPlantEquipment2023-04-012024-03-3108935045bus:PrivateLimitedCompanyLtd2023-04-012024-03-3108935045bus:SmallCompaniesRegimeForAccounts2023-04-012024-03-3108935045bus:FRS1022023-04-012024-03-3108935045bus:AuditExemptWithAccountantsReport2023-04-012024-03-3108935045bus:FullAccounts2023-04-012024-03-31xbrli:purexbrli:sharesiso4217:GBP