Company Registration No. 08139448 (England and Wales)
CAPILLARY FILM TECHNOLOGY LTD
Unaudited accounts
for the year ended 31 December 2024
CAPILLARY FILM TECHNOLOGY LTD
Unaudited accounts
Contents
CAPILLARY FILM TECHNOLOGY LTD
Company Information
for the year ended 31 December 2024
Directors
REIS, Nuno Miguel
EDWARDS, Alexander Daniel, Dr
HESTER, Simon Richard
Company Number
08139448 (England and Wales)
Registered Office
CAPILLARY FILM TECHNOLOGY LTD
DAUX ROAD
BILLINGSHURST
WEST SUSSEX
RH14 9SJ
Accountants
Surrey Hills Accountancy Limited
The Old Workshop
Longfrey Cottage
Dorking Road
Chilworth
GU4 8RH
CAPILLARY FILM TECHNOLOGY LTD
Statement of financial position
as at 31 December 2024
Intangible assets
11,014
11,014
Cash at bank and in hand
29,833
29,833
Creditors: amounts falling due within one year
(495,447)
(495,207)
Net current liabilities
(429,101)
(428,861)
Net liabilities
(418,085)
(417,845)
Called up share capital
25,000
25,000
Profit and loss account
(443,085)
(442,845)
Shareholders' funds
(418,085)
(417,845)
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 16 June 2025 and were signed on its behalf by
HESTER, Simon Richard
Director
Company Registration No. 08139448
CAPILLARY FILM TECHNOLOGY LTD
Notes to the Accounts
for the year ended 31 December 2024
CAPILLARY FILM TECHNOLOGY LTD is a private company, limited by shares, registered in England and Wales, registration number 08139448. The registered office is CAPILLARY FILM TECHNOLOGY LTD, DAUX ROAD , BILLINGSHURST, WEST SUSSEX, RH14 9SJ. The company is in the process of being wound up.
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Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
33.3% SL
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Impairment of non-current assets
At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible 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).
Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.
Grants and SBRI Healthcare funding are credited to deferred revenue when received. Grants and funding towards capital expenditure are released to the profit and loss accounts over the expected useful life of the assets. Grants and funding towards revenue expenditure are released to the profit and loss accounts as the related expenditure is incurred.
CAPILLARY FILM TECHNOLOGY LTD
Notes to the Accounts
for the year ended 31 December 2024
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 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.
At the balance sheet date, the company's current liabilities exceed its current assets. However, the company has received assurance from its sole provider of finance, a connected company, that financial support will continue to be provided as necessary for at least twelve months from the date of signing these accounts.
The COVID-19 pandemic and the ensuing economic shutdown has had a significant impact on the company's operations, but the company has been able to continue to operate with certain measures introduced as required for social distancing, In response to the COVID-19 pandemic, the directors have periormed a robust analysis of forecast future cash flows taking into account the potential impact on the business of possible future scenarios arising from the impact of COVID-19. This analysis also considers the effectiveness of available measures to assist in mitigating the impact.
On this basis, the directors consider it appropriate to prepare the accounts on a going concern basis. However, should the financial support mentioned above not be forthcoming, the going concern basis used in preparing the company's accounts may be invalid and adjustments would have to be made to reduce the value of assets to their realisable amount and to provide for any further liabilities which might arise. The accounts do not include any adjustment to the company's assets or liabilities that might be necessary should this basis not continue to be appropriate.
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Intangible fixed assets
Other
At 31 December 2024
144,321
At 31 December 2024
133,307
At 31 December 2024
11,014
At 31 December 2023
11,014
CAPILLARY FILM TECHNOLOGY LTD
Notes to the Accounts
for the year ended 31 December 2024
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Tangible fixed assets
Plant & machinery
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 January 2024
21,561
2,040
23,601
At 31 December 2024
21,561
2,040
23,601
At 1 January 2024
21,559
2,040
23,599
At 31 December 2024
21,559
2,040
23,599
Amounts falling due within one year
Amounts falling due after more than one year
Other debtors
29,099
29,099
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Creditors: amounts falling due within one year
2024
2023
Trade creditors
44,423
44,423
Amounts owed to group undertakings and other participating interests
447,352
447,352
Allotted, called up and fully paid:
25,000 Ordinary shares of £1 each
25,000
25,000
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Transactions with related parties
The ultimate parent company is Capillary Film Technology Holdings Limited, a company registered in England. The registered office is Daux Road, Billingshurst, England, RH14 9SJ.
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Average number of employees
During the year the average number of employees was 4 (2023: 4).