ACCOUNTT - Pages for Filing

Registered number: 07105769 (England & Wales)

	ACUITUS LIMITED
	DIRECTORS' REPORT AND UNAUDITED FINANCIAL STATEMENTS
	FOR THE YEAR ENDED 31 DECEMBER 2024

	Pages for Filing with Registrar


ACUITUS LIMITED

CONTENTS

	Page
Company Information	1
Balance Sheet	2 - 3
Notes to the Financial Statements	4 - 7


ACUITUS LIMITED

COMPANY INFORMATION

Directors	Richard Auterac
	Charlie Powter


Registered number	07105769


Registered office	40 Queen Anne Street
	London
	W1G 9EL


Accountants	Lewis Golden LLP
	40 Queen Anne Street
	London
	W1G 9EL

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Registered number: 07105769 (England & Wales) ACUITUS LIMITED

BALANCE SHEET

AS AT 31 DECEMBER 2024

		2024		2023
Note		£		£

Fixed assets
Tangible assets	4		8,466		9,595
			8,466		9,595
Current assets
Debtors: amounts falling due within one year	5	640,278		873,415
Cash at bank and in hand		209,444		234,370
		849,722		1,107,785
Creditors: amounts falling due within one year	6	(657,980)		(833,614)
Net current assets			191,742		274,171
Total assets less current liabilities			200,208		283,766
Creditors: amounts falling due after more than one year	7		(20,416)		(69,417)

Net assets			179,792		214,349

Capital and reserves
Called up share capital	85	95
Capital redemption reserve	15	10
Profit and loss account	179,692	214,244
	179,792	214,349

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Registered number: 07105769 (England & Wales) ACUITUS LIMITED

BALANCE SHEET (CONTINUED)

AS AT 31 DECEMBER 2024

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.

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 prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the Directors' Report and 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:

Richard Auterac

Director

Date: 26 September 2025

The notes on pages 4 to 7 form part of these financial statements.

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ACUITUS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1.	General information

Acuitus Limited is a private company limited by shares, incorporated in England and Wales, registered number 07105769. The address of the company's registered office is 40 Queen Anne Street, London W1G 9EL.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention and in accordance with Section 1A - small entities of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' ('FRS 102') and the requirements of the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Going concern

During the year the company continued to successfully hold its auctions on a virtual basis. The auctions' results were however down in comparison with the previous year and resulted in the company making a small loss.
Since the year end despite the continued economic uncertainties the auction performances have remained strong, so the directors are confident that the company will continue as a going concern for at least twelve months from the date of approval of these financial statements and be able to pay its liabilities as an when they fall due and have accordingly prepared them on a going concern basis.

2.3

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Commission income is recognised when contracts are exchanged for the purchase of the property. The following criteria must also be met before turnover is recognised:

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided when all of the following conditions are satisfied:

∙the amount of turnover can be measured reliably;

∙it is probable that the company will receive the consideration due under the contract; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.4

Operating leases: the company as lessee

Rentals paid under operating leases are charged to the Profit and Loss Account on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

2.5

Borrowing costs

All borrowing costs are recognised in the Profit and Loss Account in the year in which they are incurred.

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ACUITUS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.6

Pensions

Defined contribution pension 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 the Profit and Loss Account 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.

2.7

Taxation

Tax is recognised in the Profit and Loss Account.

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.

2.8

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.

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:

Plant and machinery etc.

Straight line over 3-5 years

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 the Profit and Loss Account.

2.9

Debtors

Short-term debtors are measured at the 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.

2.10

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.

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ACUITUS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.11

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.

2.12

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 and loans from banks.

Financial assets that are measured at cost and amortised cost 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 the Profit and Loss Account.

Financial assets and liabilities are offset, with the net amounts presented in the Balance Sheet, when there is a legally 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.

Employees

The average monthly number of employees, including directors, during the year was 11 (2023 - 10).

4.	Tangible fixed assets

		Plant and machinery etc.
		£
	Cost
	At 1 January 2024	235,119
	Additions	3,308
	At 31 December 2024	238,427
	Depreciation
	At 1 January 2024	225,524
	Charge for the year	4,437
	At 31 December 2024	229,961
	Net book value
	At 31 December 2024	8,466
	At 31 December 2023	9,595

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ACUITUS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Debtors

					2024	2023
					£	£


Trade debtors	342,966	458,716
Other debtors	297,312	414,699
	640,278	873,415

Included within other debtors is £79,132 (2023 - £206,366) relating to s455 tax on the directors' loans. Of this £49,337 (2023 - £85,302) is recoverable in more than one year.

6.	Creditors: amounts falling due within one year
		2024	2023
		£	£

Bank loans	49,000	49,000
Trade creditors	326,275	264,487
Corporation tax	-	99,615
Other taxation and social security	99,122	138,977
Other creditors	183,583	281,535
	657,980	833,614

7.	Creditors: amounts falling due after more than one year
		2024	2023
		£	£

	Bank loans	20,416	69,417

The aggregate amount of liabilities repayable wholly or in part more than five years after the balance sheet date is £nil (2023 - £nil).

In 2020 the company obtained a £245,000 Coronavirus Business Interruption Loan, which is guaranteed by the government. Interest is charged at 2.42% over Base Rate per annum and the balance is repayable over 6 years, with no repayment or interest charged in the first year. The company commenced repayments in June 2021.

8.	Pension commitments

The company pays into employee defined contribution schemes. Contributions totalling £1,446 (2023 - £3,499) were payable to the schemes at the end of the year and are included in other creditors.

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