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Registration number: 07757410

AccurIC Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 July 2024

 

AccurIC Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 6

 

AccurIC Ltd

Company Information

Directors

A R Buckley

D Bannister

G B Paton

Registered office

1 Conference Grove
Crowle
Worcester
WR7 4SF

Accountants

A J Wheeler Ltd - Trading as Howard Smith & Co
Chartered Certified Accountants
338 London Road
Portsmouth
Hampshire
PO2 9JY

 

AccurIC Ltd

(Registration number: 07757410)
Balance Sheet as at 31 July 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

51

76

Current assets

 

Cash at bank and in hand

 

7

10

Creditors: Amounts falling due within one year

5

(205,367)

(128,325)

Net current liabilities

 

(205,360)

(128,315)

Total assets less current liabilities

 

(205,309)

(128,239)

Creditors: Amounts falling due after more than one year

5

(223,200)

(223,200)

Net liabilities

 

(428,509)

(351,439)

Capital and reserves

 

Called up share capital

2,194

2,194

Share premium reserve

1,097,673

1,097,673

Other reserves

35,980

35,980

Retained earnings

(1,564,356)

(1,487,286)

Shareholders' deficit

 

(428,509)

(351,439)

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

Directors' 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 directors acknowledge their 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 22 April 2025 and signed on its behalf by:
 

 

AccurIC Ltd

(Registration number: 07757410)
Balance Sheet as at 31 July 2024

.........................................
D Bannister
Director

 

AccurIC Ltd

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

1

General information

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

The address of its registered office is:
1 Conference Grove
Crowle
Worcester
WR7 4SF

These financial statements were authorised for issue by the Board on 22 April 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 except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis. The company relies upon the continuing support of the directors and participators. The directors consider that the future prospects of the company justify the going concern basis.

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss, 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

AccurIC Ltd

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

Depreciation

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

Asset class

Depreciation method and rate

Office equipment

33.3% on cost

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.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 3).

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 August 2023

2,165

2,165

At 31 July 2024

2,165

2,165

Depreciation

At 1 August 2023

2,089

2,089

Charge for the year

25

25

At 31 July 2024

2,114

2,114

Carrying amount

At 31 July 2024

51

51

At 31 July 2023

76

76

 

AccurIC Ltd

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

5

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Accruals and deferred income

192,179

117,402

Other creditors

13,188

10,923

205,367

128,325

Creditors: amounts falling due after more than one year

2024
£

2023
£

Due after one year

Other non-current financial liabilities

223,200

223,200

Creditors include amounts owed to directors of £223,200 (2023 - £165,000).

6

Related party transactions

Transactions with directors

2024

At 1 August 2023
£

Repayments by director
£

At 31 July 2024
£

D Bannister

Expenses paid by director

8,929

1,883

10,812

-

-

-

8,929

1,883

10,812

2023

At 1 August 2022
£

Repayments by director
£

At 31 July 2023
£

D Bannister

Expenses paid by director

7,283

1,646

8,929

7,283

1,646

8,929