1 October 2023 false No description of principal activity Taxfiler 2024.6 07763133business:PrivateLimitedCompanyLtd2023-10-012024-09-30 077631332023-09-30 077631332023-10-012024-09-30 07763133business:AuditExemptWithAccountantsReport2023-10-012024-09-30 07763133business:FilletedAccounts2023-10-012024-09-30 077631332024-09-30 07763133business:Director12023-10-012024-09-30 07763133business:RegisteredOffice2023-10-012024-09-30 077631332023-09-30 07763133core:WithinOneYear2024-09-30 07763133core:WithinOneYear2023-09-30 07763133core:ShareCapitalcore:PreviouslyStatedAmount2024-09-30 07763133core:ShareCapitalcore:PreviouslyStatedAmount2023-09-30 07763133core:SharePremiumcore:PreviouslyStatedAmount2024-09-30 07763133core:SharePremiumcore:PreviouslyStatedAmount2023-09-30 07763133core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2024-09-30 07763133core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-09-30 07763133core:PreviouslyStatedAmount2024-09-30 07763133core:PreviouslyStatedAmount2023-09-30 07763133business:SmallEntities2023-10-012024-09-30 07763133countries:EnglandWales2023-10-012024-09-30 07763133business:OrdinaryShareClass12023-10-012024-09-30 07763133business:OrdinaryShareClass12022-10-012023-09-30 07763133business:OrdinaryShareClass22023-10-012024-09-30 07763133business:OrdinaryShareClass22022-10-012023-09-30 07763133business:OrdinaryShareClass32023-10-012024-09-30 07763133business:OrdinaryShareClass32022-10-012023-09-30 07763133business:AllOrdinaryShares2023-10-012024-09-30 07763133business:AllOrdinaryShares2022-10-012023-09-30 077631332022-10-012023-09-30 iso4217:GBP xbrli:shares xbrli:pure
Company Registration No. 07763133 (England and Wales)
Adaptive Array Systems Limited Unaudited accounts for the year ended 30 September 2024
Adaptive Array Systems Limited Unaudited accounts Contents
Page
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Adaptive Array Systems Limited Company Information for the year ended 30 September 2024
Director
C Shenton
Company Number
07763133 (England and Wales)
Registered Office
103 Millstone Lane Nantwich Cheshire CW5 5PH
Accountants
Virtus Accounting Limited 20 Churchfields Widnes Cheshire WA8 9RP
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Chartered Certified Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Adaptive Array Systems Limited for the year ended 30 September 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Adaptive Array Systems Limited for the year ended 30 September 2024 as set out on pages 5 - 8 from the Company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/uk/en/about-us/regulation/rulebook.html
Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf.
Virtus Accounting Limited Chartered Certified Accountants 20 Churchfields Widnes Cheshire WA8 9RP 26 June 2025
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Adaptive Array Systems Limited Statement of financial position as at 30 September 2024
2024 
2023 
Notes
£ 
£ 
Current assets
Cash at bank and in hand
50 
50 
Creditors: amounts falling due within one year
(31,921)
(31,088)
Net current liabilities
(31,871)
(31,038)
Net liabilities
(31,871)
(31,038)
Capital and reserves
Called up share capital
425 
425 
Share premium
526,657 
526,657 
Profit and loss account
(558,953)
(558,120)
Shareholders' funds
(31,871)
(31,038)
For the year ending 30 September 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 in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 and authorised for issue on 26 June 2025 and were signed on its behalf by
C Shenton Director Company Registration No. 07763133
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Adaptive Array Systems Limited Notes to the Accounts for the year ended 30 September 2024
1
Statutory information
Adaptive Array Systems Limited is a private company, limited by shares, registered in England and Wales, registration number 07763133. The registered office is 103 Millstone Lane, Nantwich, Cheshire, CW5 5PH. The company is in the process of being wound up.
2
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Consolidated accounts
The company is exempt from preparing group accounts as it is a small group.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods and services rendered, stated net of discounts and of value added tax. When the consideration receivable in cash or cash equivalents is deferred, and the arrangement constitutes in effect a financing transaction, the fair value of the consideration is measured as the present value of all future receipts determined using an imputed rate of interest, normally the rate that discounts the nominal amount of consideration to the cash sales price. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer, the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. Revenue from the provision of services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to compete can be estimated reliably. The stage of completion is calculated by comparing costs incurred as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recoverable.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current period. A current tax asset is recognised for the tax credit receivable in relation to the company's research and development work. Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
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Adaptive Array Systems Limited Notes to the Accounts for the year ended 30 September 2024
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
Foreign currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Investments
Interests in subsidiaries 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.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location. At each reporting date, as assessment is made for impairment. Any excess of the carrying amount over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit and loss. Reversals of impairment losses are also recognised in profit and loss.
Financial instruments
The company only enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, credit arrangements and loans from related parties. Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. Financial assets are initially measured at cost and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing arrangement, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets categorised as receivable within one year are not amortised. Financial assets are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss. For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date. Basic financial liabilities that are classified as debt, are initially recognised at cost unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Operating leases
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
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Adaptive Array Systems Limited Notes to the Accounts for the year ended 30 September 2024
4
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Amounts owed to group undertakings and other participating interests
15,071 
15,071 
Loans from directors
16,370 
15,777 
Accruals
480 
240 
31,921 
31,088 
5
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
19,168 Ordinary shares of £0.01 each
191.68 
191.68 
20,329 Ordinary A shares of £0.01 each
203.29 
203.29 
2,976 Ordinary C shares of £0.01 each
29.76 
29.76 
424.73 
424.73 
6
Controlling party
The company is deemed to be a subsidiary of Shed Holdings Limited. The registered office for Shed Holdings Limited is 103 Millstone Lane, Nantwich, Cheshire CW5 5PH.
7
Average number of employees
During the year the average number of employees was 0 (2023: 0).
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