Caseware UK (AP4) 2024.0.164 2024.0.164 2024-09-302024-09-30The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.62023-10-01falsefalseThe company's principal activity is the development of superconductive wires.6truetrue 08688576 2023-10-01 2024-09-30 08688576 2022-10-01 2023-09-30 08688576 2024-09-30 08688576 2023-09-30 08688576 c:Director1 2023-10-01 2024-09-30 08688576 d:Buildings d:ShortLeaseholdAssets 2023-10-01 2024-09-30 08688576 d:Buildings d:ShortLeaseholdAssets 2024-09-30 08688576 d:Buildings d:ShortLeaseholdAssets 2023-09-30 08688576 d:PlantMachinery 2023-10-01 2024-09-30 08688576 d:PlantMachinery 2024-09-30 08688576 d:PlantMachinery 2023-09-30 08688576 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 08688576 d:FurnitureFittings 2023-10-01 2024-09-30 08688576 d:FurnitureFittings 2024-09-30 08688576 d:FurnitureFittings 2023-09-30 08688576 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 08688576 d:OfficeEquipment 2023-10-01 2024-09-30 08688576 d:OfficeEquipment 2024-09-30 08688576 d:OfficeEquipment 2023-09-30 08688576 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 08688576 d:OtherPropertyPlantEquipment 2023-10-01 2024-09-30 08688576 d:OtherPropertyPlantEquipment 2024-09-30 08688576 d:OtherPropertyPlantEquipment 2023-09-30 08688576 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 08688576 d:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 08688576 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2024-09-30 08688576 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-09-30 08688576 d:CurrentFinancialInstruments 2024-09-30 08688576 d:CurrentFinancialInstruments 2023-09-30 08688576 d:Non-currentFinancialInstruments 2024-09-30 08688576 d:Non-currentFinancialInstruments 2023-09-30 08688576 d:CurrentFinancialInstruments d:WithinOneYear 2024-09-30 08688576 d:CurrentFinancialInstruments d:WithinOneYear 2023-09-30 08688576 d:ShareCapital 2024-09-30 08688576 d:ShareCapital 2023-09-30 08688576 d:SharePremium 2024-09-30 08688576 d:SharePremium 2023-09-30 08688576 d:RetainedEarningsAccumulatedLosses 2024-09-30 08688576 d:RetainedEarningsAccumulatedLosses 2023-09-30 08688576 c:OrdinaryShareClass1 2023-10-01 2024-09-30 08688576 c:OrdinaryShareClass1 2023-09-30 08688576 c:OrdinaryShareClass2 2023-10-01 2024-09-30 08688576 c:OrdinaryShareClass2 2024-09-30 08688576 c:OrdinaryShareClass2 2023-09-30 08688576 c:OrdinaryShareClass3 2023-10-01 2024-09-30 08688576 c:OrdinaryShareClass3 2024-09-30 08688576 c:OrdinaryShareClass3 2023-09-30 08688576 c:OrdinaryShareClass4 2023-10-01 2024-09-30 08688576 c:OrdinaryShareClass4 2024-09-30 08688576 c:FRS102 2023-10-01 2024-09-30 08688576 c:AuditExempt-NoAccountantsReport 2023-10-01 2024-09-30 08688576 c:FullAccounts 2023-10-01 2024-09-30 08688576 c:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 08688576 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:ExternallyAcquiredIntangibleAssets 2023-10-01 2024-09-30 08688576 1 2023-10-01 2024-09-30 08688576 2 2023-10-01 2024-09-30 08688576 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:OwnedIntangibleAssets 2023-10-01 2024-09-30 08688576 e:PoundSterling 2023-10-01 2024-09-30 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 08688576









EPOCH WIRES LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

 
EPOCH WIRES LIMITED
REGISTERED NUMBER: 08688576

BALANCE SHEET
AS AT 30 SEPTEMBER 2024

2024
2023
Note
£
£

FIXED ASSETS
  

Intangible assets
 4 
952,971
959,740

Tangible assets
 5 
533,439
520,426

  
1,486,410
1,480,166

CURRENT ASSETS
  

Stocks
  
65,087
55,434

Debtors: amounts falling due after more than one year
 6 
235,040
-

Debtors: amounts falling due within one year
 6 
211,635
197,201

Cash at bank and in hand
  
64,460
84,985

  
576,222
337,620

Creditors: amounts falling due within one year
 7 
(37,017)
(58,690)

NET CURRENT ASSETS
  
 
 
539,205
 
 
278,930

TOTAL ASSETS LESS CURRENT LIABILITIES
  
2,025,615
1,759,096

  

NET ASSETS
  
2,025,615
1,759,096


CAPITAL AND RESERVES
  

Called up share capital 
 8 
420
319

Share premium account
  
4,359,997
4,010,058

Profit and loss account
  
(2,334,802)
(2,251,281)

  
2,025,615
1,759,096


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.

Page 1

 
EPOCH WIRES LIMITED
REGISTERED NUMBER: 08688576
    
BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2024

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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 profit and loss account 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 by: 






Dr S Atamert
Director

Date: 9 June 2025

The notes on pages 3 to 10 form part of these financial statements.

Page 2

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

1.


GENERAL INFORMATION

Epoch Wires Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is Unit 4 Burlington Park, Foxton, Cambridge, Cambridgeshire, CB22 6SA.
The Company's functional and presentational currency is GBP. 

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 following principal accounting policies have been applied:

 
2.2

TURNOVER

Turnover comprises revenue recognised by the company in respect of sales and management and
expense recharges during the year, exclusive of Value Added Tax.

 
2.3

INTANGIBLE ASSETS

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.4

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.

Page 3

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

2.ACCOUNTING POLICIES (CONTINUED)


2.4
TANGIBLE FIXED ASSETS (CONTINUED)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Short-term leasehold property
-
20%
straight line
Plant and machinery
-
20%
straight line
Fixtures and fittings
-
20%
straight line
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 profit or loss.

Prototype plant and machinery are assets under construction and therefore have not been depreciated.

 
2.5

STOCKS

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell.

 
2.6

DEBTORS

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

CASH AND CASH EQUIVALENTS

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

CREDITORS

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 4

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

2.ACCOUNTING POLICIES (CONTINUED)

 
2.9

GOVERNMENT GRANTS

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss 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 Profit and Loss Account in the same period as the related expenditure.

 
2.10

FOREIGN CURRENCY TRANSLATION

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

 
2.11

OPERATING LEASES: THE COMPANY AS LESSEE

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.12

PENSIONS (DEFINED CONTRIBUTION PLAN)

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.13

INTEREST INCOME

Interest income is recognised in profit or loss using the effective interest method.

Page 5

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

2.ACCOUNTING POLICIES (CONTINUED)

 
2.14

PROVISIONS FOR LIABILITIES

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Balance Sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

 
2.15

CURRENT AND DEFERRED TAXATION

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income 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.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.16

RESEARCH AND DEVELOPMENT

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight line basis over their useful economic life of 10 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

Page 6

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

3.


EMPLOYEES

The average monthly number of employees, including directors, during the year was 6 (2023 - 6).







4.


INTANGIBLE ASSETS




Development costs

£



COST


At 1 October 2023
1,514,318


Additions
160,736



At 30 September 2024

1,675,054



AMORTISATION


At 1 October 2023
554,578


Charge for the year on owned assets
167,505



At 30 September 2024

722,083



NET BOOK VALUE



At 30 September 2024
952,971



At 30 September 2023
959,740



Page 7

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

5.


TANGIBLE FIXED ASSETS





Short-term leasehold property
Plant and machinery
Fixtures and fittings
Office equipment
Prototype plant and machinery
Total

£
£
£
£
£
£



COST OR VALUATION


At 1 October 2023
7,814
113,462
14,425
4,253
506,589
646,543


Additions
-
21,447
-
1,321
-
22,768



At 30 September 2024

7,814
134,909
14,425
5,574
506,589
669,311



DEPRECIATION


At 1 October 2023
7,814
102,695
12,217
3,391
-
126,117


Charge for the year on owned assets
-
7,730
1,124
901
-
9,755



At 30 September 2024

7,814
110,425
13,341
4,292
-
135,872



NET BOOK VALUE



At 30 September 2024
-
24,484
1,084
1,282
506,589
533,439



At 30 September 2023
-
10,767
2,208
862
506,589
520,426

Page 8

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

6.


DEBTORS

2024
2023
£
£

DUE AFTER MORE THAN ONE YEAR

Other debtors
235,040
-

235,040
-


2024
2023
£
£

DUE WITHIN ONE YEAR

Trade debtors
58,482
45,988

Prepayments and accrued income
28,114
31,206

Tax recoverable
125,039
120,007

211,635
197,201



7.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024
2023
£
£

Trade creditors
18,310
28,803

Other taxation and social security
7,381
18,101

Other creditors
1,634
982

Accruals and deferred income
9,692
10,804

37,017
58,690


Page 9

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

8.


SHARE CAPITAL

2024
2023
£
£
ALLOTTED, CALLED UP AND FULLY PAID



NIL (2023 - 10,481) A Preference shares of £0.01 each
-
105
4,185 (2023 - 4,185) B Preference shares of £0.01 each
42
42
27,664 (2023 - 17,183) Ordinary shares of £0.01 each
277
172
10,076 (2023 - 0 ) C Preference shares of £0.01 each
101
-

420

319


On 28 March 2024, 10,076 £0.01 C Preference shares were issued for a total consideration of £350,000.
On 28 March 2024, 10,481 £0.01 A Preference shares were redesignated to Ordinary shares of equal value.


9.


PENSION COMMITMENTS

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The contributions payable to the fund in the year amounted to £3,527 (2023: £3,618). The amounts outstanding at the year end were £468 (2023: £370).

 
Page 10