Cabling Science Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 03453396

Cabling Science Limited

Filleted Unaudited Financial Statements

31 December 2024

Cabling Science Limited

Statement of Financial Position

31 December 2024

	2024		2023
Note	£	£	£

Fixed assets

Intangible assets	5	364,488	384,737
Tangible assets	6	79,115	63,183
		---------	---------
		443,603	447,920

Current assets

Stocks		1,000	1,000
Debtors	7	1,679,235	1,909,600
Cash at bank and in hand		1,866,649	1,928,809
		------------	------------
		3,546,884	3,839,409

Creditors: amounts falling due within one year	8	713,914		658,623
		------------		------------
Net current assets			2,832,970	3,180,786
			------------	------------
Total assets less current liabilities			3,276,573	3,628,706

Provisions

Taxation including deferred tax	90,764	98,469
	------------	------------
Net assets	3,185,809	3,530,237
	------------	------------

Cabling Science Limited

Statement of Financial Position (continued)

31 December 2024

	2024		2023
Note	£	£	£

Capital and reserves

Called up share capital	10	4	4
Profit and loss account		3,185,805	3,530,233
		------------	------------
Shareholders funds		3,185,809	3,530,237
		------------	------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 27 March 2025 , and are signed on behalf of the board by:

L S Smith
Director

Company registration number: 03453396

Cabling Science Limited

Notes to the Financial Statements

Year ended 31 December 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 13 Northern Way, Crewkerne, Somerset, TA18 7HJ.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis.

Revenue recognition

Revenue from services is recognised when the significant risks and rewards of the service have transferred to the buyer, usually on the delivery of the service, the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

	Development costs	-	10% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Research and development

Research expenditure is written off in the period in which it is incurred. Development expenditure incurred is capitalised as an intangible asset only when all of the following criteria are met: - It is technically feasible to complete the intangible asset so that it will be available for use or sale; - There is the intention to complete the intangible asset and use or sell it; - There is the ability to use or sell the intangible asset; - The use or sale of the intangible asset will generate probable future economic benefits; - There are adequate technical, financial and other resources available to complete the development and to use or sell the intangible asset; and - The expenditure attributable to the intangible asset during its development can be measured reliably. Expenditure that does not meet the above criteria is expensed as incurred. Development costs are amortised on a straight line basis over ten years from the date the asset is brought into use.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Leasehold Property	-	10% straight line
Office Equipment	-	25% reducing balance
Fixtures & Fittings	-	25% reducing balance
Motor Vehicles	-	25% reducing balance

	Computer Equipment	-	33% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

Stocks

Stocks are measured at cost. Cost includes all costs of purchase, and other costs incurred in bringing the stock to its present location and condition.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 14 (2023: 14 ).

5. Intangible assets

	Development costs
	£
Cost
At 1 January 2024 and 31 December 2024	404,986
	---------
Amortisation
At 1 January 2024	20,249
Charge for the year	20,249
	---------
At 31 December 2024	40,498
	---------
Carrying amount
At 31 December 2024	364,488
	---------
At 31 December 2023	384,737
	---------

6. Tangible assets

	Land and buildings	Plant and machinery	Fixtures and fittings	Motor vehicles	Equipment	Total
	£	£	£	£	£	£
Cost
At 1 Jan 2024	227,687	105,623	56,007	124,067	120,831	634,215
Additions	–	–	–	55,671	4,482	60,153
Disposals	–	–	–	( 49,990)	–	( 49,990)
	---------	---------	--------	---------	---------	---------
At 31 Dec 2024	227,687	105,623	56,007	129,748	125,313	644,378
	---------	---------	--------	---------	---------	---------
Depreciation
At 1 Jan 2024	227,687	99,047	52,131	74,061	118,106	571,032
Charge for the year	–	1,644	969	22,465	3,326	28,404
Disposals	–	–	–	( 34,173)	–	( 34,173)
	---------	---------	--------	---------	---------	---------
At 31 Dec 2024	227,687	100,691	53,100	62,353	121,432	565,263
	---------	---------	--------	---------	---------	---------
Carrying amount
At 31 Dec 2024	–	4,932	2,907	67,395	3,881	79,115
	---------	---------	--------	---------	---------	---------
At 31 Dec 2023	–	6,576	3,876	50,006	2,725	63,183
	---------	---------	--------	---------	---------	---------

7. Debtors

	2024	2023
	£	£
Trade debtors	22,585	10,322
Other debtors	1,656,650	1,899,278
	------------	------------
	1,679,235	1,909,600
	------------	------------

The debtors above include the following amounts falling due after more than one year:

	2024	2023
	£	£
Other debtors	319,389	322,880
	---------	---------

8. Creditors: amounts falling due within one year

	2024	2023
	£	£
Trade creditors	552,282	471,750
Amounts owed to group undertakings and undertakings in which the company has a participating interest	77,549	23,969
Corporation tax	48,452	127,595
Social security and other taxes	14,553	15,154
Other creditors	21,078	20,155
	---------	---------
	713,914	658,623
	---------	---------

9. Prior period adjustments

During 2023 it was identified that development costs which arose in the previous year should have been capitalised. These totalled £190,656 and have been adjusted accordingly. Research & Development costs were reduced by £120,809, wages costs were reduced by £69,847 and reserves increased by £190,656. The adjustment has no tax implications.

10. Called up share capital

Issued, called up and fully paid

	2024		2023
	No.	£	No.	£
Ordinary shares of £ 1 each	4	4	4	4
	----	----	----	----

11. Operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2024	2023
	£	£
Later than 1 year and not later than 5 years	48,970	34,950
	--------	--------

12. Directors' advances, credits and guarantees

During the year the directors entered into the following advances and credits with the company:

	2024
	Balance brought forward	Advances/ (credits) to the directors	Balance outstanding
	£	£	£
L S Smith	962,606	61,863	1,024,469
M MoonPark	48,000	185,000	233,000
	------------	---------	------------
	1,010,606	246,863	1,257,469
	------------	---------	------------

	2023
	Balance brought forward	Advances/ (credits) to the directors	Balance outstanding
	£	£	£
L S Smith	962,606	–	962,606
M MoonPark	28,000	20,000	48,000
	---------	--------	------------
	990,606	20,000	1,010,606
	---------	--------	------------

The loans are interest free and repayable on demand.

13. Related party transactions

At the year end the company was owed £7,709(2023 - £487,551) by P Smith and £7,303 (2023 - £12,970)by S Smith. Both loans being interest free and repayable on demand. P & S Smith are parents of the director L Smith.