Company No:
Contents
| Note | 31.12.2024 | |
| £ | ||
| Fixed assets | ||
| Tangible assets | 3 |
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| 19,057 | ||
| Current assets | ||
| Debtors | 4 |
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| Cash at bank and in hand |
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| 1,124,654 | ||
| Creditors: amounts falling due within one year | 5 | (
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| Net current assets | 967 | |
| Total assets less current liabilities | 20,024 | |
| Provision for liabilities | (
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| Net assets |
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| Capital and reserves | ||
| Called-up share capital | 6 |
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| Profit and loss account |
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| Total shareholder's funds |
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Directors' responsibilities:
The financial statements of Amica Scientific Limited (registered number:
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A C Wadsworth
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.
Amica Scientific Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Turner Heath, 103 Bollington Road, Bollington, SK10 5EL, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.
Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
* the amount of revenue can be measured reliably;
* it is probable that the Company will receive the consideration due under the contract;
* the stage of completion of the contract at the end of the reporting period can be measured reliably; and
* the costs incurred and the costs to complete the contract can be measured reliably.
Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial period. Differences between contributions payable in the financial period and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.
Finance costs are charged to the Statement of Income and Retained Earnings over the term of the debt using the effective interest method so the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Deferred tax
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 financial statements. 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.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
| Computer equipment |
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The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
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 the Statement of Income and Retained Earnings as described below.
Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
| Period from 06.11.2023 to 31.12.2024 |
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| Number | |
| Monthly average number of persons employed by the Company during the period, including directors |
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| Computer equipment | Total | ||
| £ | £ | ||
| Cost | |||
| At 06 November 2023 |
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| Additions |
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| At 31 December 2024 |
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| Accumulated depreciation | |||
| At 06 November 2023 |
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| Charge for the financial period |
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| At 31 December 2024 |
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| Net book value | |||
| At 31 December 2024 |
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| 31.12.2024 | |
| £ | |
| Trade debtors |
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| Prepayments |
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| 31.12.2024 | |
| £ | |
| Trade creditors |
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| Amounts owed to Group undertakings |
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| Amounts owed to Parent undertakings |
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| Taxation and social security |
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| Other creditors |
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| 31.12.2024 | |
| £ | |
| Allotted, called-up and fully-paid | |
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Pensions
The Company operates a defined contribution pension scheme for the directors and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund.
The Company operates a defined contribution pension scheme for the directors and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund.
The pension cost charge represents contributions payable by the company to the funds and amounted to £6,565. At the year end, there was an outstanding pension creditor amounted to £991.
Transactions with the entity's directors
Included within other creditors are amounts due to a director of £20,844. Interest of £1,579 was charged on the loan in the period. The loan is repayable on demand.