Company registration number 08046773 (England and Wales)
SHOTOVER TECHNOLOGIES LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
SHOTOVER TECHNOLOGIES LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
SHOTOVER TECHNOLOGIES LTD
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investments
4
2
2
Current assets
Debtors
5
4,314,620
3,905,970
Cash at bank and in hand
182
801
4,314,802
3,906,771
Creditors: amounts falling due within one year
Other creditors
6
661,967
252,144
Net current assets
3,652,835
3,654,627
Net assets
3,652,837
3,654,629
Capital and reserves
Called up share capital
7
4,057,692
4,057,692
Profit and loss reserves
(404,855)
(403,063)
Total equity
3,652,837
3,654,629
The notes on pages 2 to 4 form part of these financial statements.
For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 28 April 2025 and are signed on its behalf by:
Mr Hugh Miles
Mr Joe Miles
Director
Director
Company registration number 08046773 (England and Wales)
SHOTOVER TECHNOLOGIES LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -
1
Accounting policies
Company information
Shotover Technologies Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Celtic House, Caxton Place, Pentwyn, Cardiff, CF23 8HA.
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 company recognises revenue from the following major sources:
The nature, timing of satisfaction of performance obligations and significant payment terms of the company's major sources of revenue are as follows:
1.2
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:
Computers
33% Straight line
1.3
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
SHOTOVER TECHNOLOGIES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
1
1
3
Tangible fixed assets
Computers
£
Cost
At 1 January 2024 and 31 December 2024
1,384
Depreciation and impairment
At 1 January 2024 and 31 December 2024
1,384
Carrying amount
At 31 December 2024
At 31 December 2023
4
Fixed asset investments
2024
2023
£
£
Other investments other than loans
2
2
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
4,314,620
3,905,970
6
Other creditors falling due within one year
2024
2023
£
£
Trade creditors
2,564
Other creditors
657,414
249,714
Accruals and deferred income
1,989
2,430
661,967
252,144
SHOTOVER TECHNOLOGIES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 4 -
7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A shares of 1p each
84,545
84,545
845
845
Ordinary B shares of £100 each
40,567
40,567
4,056,700
4,056,700
Ordinary C shares of 1p each
12,415
12,415
124
124
Ordinary D shares of 1p each
2,313
2,313
23
23
139,840
139,840
4,057,692
4,057,692
8
Post Balance Sheet Events
Other creditors includes monies received from investors ready for the next EIS share subscription post the year end.
9
Related party transactions
Atamate Solutions Ltd (formerly Atamate Consulting Ltd)
Outstanding at the year end is a loan the company made to Atamate Solutions Ltd of £66,600 (2023: £66,500) all of which is outstanding at the end of the year. The loan is repayable on demand and no interest is charged. The companies are related by virtue of common directors.
Atamate Ltd
The company owns 100% of the share capital of Atamate Limited.
Outstanding at the year end is a loan the company made to Atamate Limited of £4,248,011 (2023: £3,839,461) all of which is outstanding at the end of the year. The loan is repayable on demand and no interest is charged.
10
Controlling Party
The company's ultimate controlling parties are H A C Miles and E Hinds by virtue of their shareholdings.