Surface Science Limited 10034034 false 2023-09-01 2024-08-31 2024-08-31 The principal activity of the company is that of a holding company. Digita Accounts Production Advanced 6.30.9574.0 true false true false 10034034 2023-09-01 2024-08-31 10034034 2024-08-31 10034034 bus:OrdinaryShareClass1 2024-08-31 10034034 bus:OrdinaryShareClass2 2024-08-31 10034034 bus:OrdinaryShareClass3 2024-08-31 10034034 bus:OrdinaryShareClass4 2024-08-31 10034034 bus:OrdinaryShareClass5 2024-08-31 10034034 bus:OtherShareClass1 2024-08-31 10034034 bus:OtherShareClass2 2024-08-31 10034034 core:CapitalRedemptionReserve 2024-08-31 10034034 core:RetainedEarningsAccumulatedLosses 2024-08-31 10034034 core:ShareCapital 2024-08-31 10034034 core:SharePremium 2024-08-31 10034034 core:CurrentFinancialInstruments core:WithinOneYear 2024-08-31 10034034 core:Non-currentFinancialInstruments core:AfterOneYear 2024-08-31 10034034 core:CostValuation 2024-08-31 10034034 bus:SmallEntities 2023-09-01 2024-08-31 10034034 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 10034034 bus:FilletedAccounts 2023-09-01 2024-08-31 10034034 bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 10034034 bus:RegisteredOffice 2023-09-01 2024-08-31 10034034 bus:CompanySecretaryDirector1 2023-09-01 2024-08-31 10034034 bus:Director3 2023-09-01 2024-08-31 10034034 bus:Director4 2023-09-01 2024-08-31 10034034 bus:OrdinaryShareClass1 2023-09-01 2024-08-31 10034034 bus:OrdinaryShareClass2 2023-09-01 2024-08-31 10034034 bus:OrdinaryShareClass3 2023-09-01 2024-08-31 10034034 bus:OrdinaryShareClass4 2023-09-01 2024-08-31 10034034 bus:OrdinaryShareClass5 2023-09-01 2024-08-31 10034034 bus:OtherShareClass1 2023-09-01 2024-08-31 10034034 bus:OtherShareClass2 2023-09-01 2024-08-31 10034034 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 10034034 core:Subsidiary1 2023-09-01 2024-08-31 10034034 countries:EnglandWales 2023-09-01 2024-08-31 10034034 core:CostValuation 2023-08-31 10034034 2022-09-01 2023-08-31 10034034 2023-08-31 10034034 bus:OrdinaryShareClass1 2023-08-31 10034034 bus:OrdinaryShareClass2 2023-08-31 10034034 bus:OrdinaryShareClass3 2023-08-31 10034034 bus:OrdinaryShareClass4 2023-08-31 10034034 bus:OrdinaryShareClass5 2023-08-31 10034034 bus:OtherShareClass1 2023-08-31 10034034 bus:OtherShareClass2 2023-08-31 10034034 core:CurrentFinancialInstruments core:WithinOneYear 2023-08-31 10034034 core:Non-currentFinancialInstruments core:AfterOneYear 2023-08-31 10034034 core:Subsidiary1 2022-09-01 2023-08-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 10034034

Prepared for the registrar

Surface Science Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 August 2024

 

Surface Science Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Surface Science Limited

Company Information

Directors

Harriet Lucy Duckworth

James Alexander Grant

Andrew Roberts

Company secretary

Harriet Lucy Duckworth

Registered office

34 High Street
Long Crendon
Aylesbury
Buckinghamshire
HP18 9AF

Accountants

Hazlewoods LLP
Staverton Court
Staverton
Cheltenham
Gloucestershire
GL51 0UX

 

Surface Science Limited

(Registration number: 10034034)
Balance Sheet as at 31 August 2024

Note

2024
 £

2023
 £

Fixed assets

 

Investments

4

1,692,400

1,692,400

Creditors: Amounts falling due within one year

5

(1,375,497)

(1,247,915)

Total assets less current liabilities

 

316,903

444,485

Creditors: Amounts falling due after more than one year

5

(58,000)

(116,000)

Net assets

 

258,903

328,485

Capital and reserves

 

Called up share capital

6

19,135

18,335

Share premium reserve

292,816

292,816

Capital redemption reserve

5,665

5,665

Profit and loss account

(58,713)

11,669

Total equity

 

258,903

328,485

For the financial year ending 31 August 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 16 April 2025 and signed on its behalf by:
 


Harriet Lucy Duckworth
Company secretary and director

 

Surface Science Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 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:
34 High Street
Long Crendon
Aylesbury
Buckinghamshire
HP18 9AF

The principal place of business is:
27 Murdock Road
Bicester
Oxfordshire
OX26 4PP

 

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 for, where disclosed in these accounting policies, certain items that are shown at fair value.

The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.

Going concern

After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Critical accounting judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts 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 if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
 

Judgements

No significant judgements have been made by management in preparing these financial statements.

 

Surface Science Limited

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

Key sources of estimation uncertainty

No key sources of estimation uncertainty have been identified by management in preparing these financial statements other than those detailed in these accounting policies.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Financial instruments


Classification
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability on the balance sheet. The corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss account.

 Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

 Impairment
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss as described below.

A non financial asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

The recoverable amount of goodwill is derived from measurement of the present value of the future cash flows of the cash-generating units ('CGUs') of which the goodwill is a part. Any impairment loss in respect of a CGU is allocated first to the goodwill attached to that CGU, and then to other assets within that CGU on a pro-rata basis.

Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised. Where a reversal of impairment occurs in respect of a CGU, the reversal is applied first to the assets (other than goodwill) of the CGU on a pro-rata basis and then to any goodwill allocated to that CGU.

For financial assets carried at amortised cost, the amount of an impairment is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate.

For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

 

Surface Science Limited

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

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

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

Investments

Subsidiaries

£

Cost

At 1 September 2023

1,692,400

At 31 August 2024

1,692,400

Carrying amount

At 31 August 2024

1,692,400

At 31 August 2023

1,692,400

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Country of incorporation

Holding

Proportion of voting rights and shares held

     

2024

2023

Subsidiary undertakings

Powdertech (Bicester) Limited

England & Wales

Ordinary

100%

100%

 

     
 

Surface Science Limited

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

 

5

Creditors

2024
 £

2023
 £

Due within one year

Loans and borrowings

400,000

400,000

Amounts due to related parties

917,497

789,915

Other borrowings

58,000

58,000

1,375,497

1,247,915

2024
£

2023
£

Due after one year

Other borrowings

58,000

116,000

 

6

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary A shares of £1 each

5,541

5,541

5,541

5,541

Ordinary C shares of £1 each

3,197

3,197

3,197

3,197

Ordinary D shares of £1 each

2,000

2,000

2,000

2,000

Ordinary E shares of £1 each

3,600

3,600

3,600

3,600

Ordinary F shares of £1 each

797

797

797

797

Ordinary G shares of £1 each

1,200

1,200

1,200

1,200

Ordinary H shares of £1 each

2,800

2,800

2,000

2,000

 

19,135

19,135

18,335

18,335

Ordinary shares
The Ordinary A, Ordinary C, Ordinary E, Ordinary F, and Ordinary G shares have full voting rights and entitlements to capital and dividends. The Ordinary D and Ordinary H shares do not have voting rights or entitlements to dividends.