Anode Cathode Limited

Contents

Balance Sheet	1
Notes to the Unaudited Financial Statements	2 to 4

Anode Cathode Limited

Balance Sheet

31 December 2024

	Note	2024 £	2023 £
Current assets
Stocks	4	614,334	681,057
Debtors	5	262,741	350,185
Cash at bank and in hand		23,190	43,226
		900,265	1,074,468
Creditors: Amounts falling due within one year	6	(105,000)	(260,329)
Net assets		795,265	814,139
Capital and reserves
Called up share capital	7	2	2
Profit and loss account		795,263	814,137
Shareholders' funds		795,265	814,139

For the financial 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 accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 30 September 2025 and signed on its behalf by:
 

......................................... Mr M J Ellis Director

......................................... Mr M B Hornung Director

Company Registration Number: 12594867

Anode Cathode Limited

Notes to the Unaudited Financial Statements

Year Ended 31 December 2024

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
10 - 12 Alder Hills
Poole
England
BH12 4AL

These financial statements were authorised for issue by the Board on 30 September 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Summary of disclosure exemptions

The company has taken advantage of the exemptions available under FRS102 Section 1A not to disclose transactions with related parties performed under normal market conditions.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Anode Cathode Limited

Notes to the Unaudited Financial Statements

Year Ended 31 December 2024

Tax

Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors; and
• Cash and bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

 

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Stocks

	2024 £	2023 £
Raw materials	614,334	681,057

Anode Cathode Limited

Notes to the Unaudited Financial Statements

Year Ended 31 December 2024

5

Debtors

	2024 £	2023 £
Trade debtors	5,433	3,825
Amounts owed by related parties	168,930	171,009
Other debtors	88,378	175,351
	262,741	350,185

6

Creditors

Creditors: amounts falling due within one year

	2024 £	2023 £
Due within one year
Trade creditors	89,060	133,107
Amounts owed to related parties	-	69,134
Accruals and deferred income	11,001	57,597
Other creditors	4,939	491
	105,000	260,329

7	Share capital

Allotted, called up and fully paid shares

	2024		2023
	No.	£	No.	£
Ordinary shares of £1 each	2	2	2	2

8	Ultimate controlling party

The company is jointly controlled by M Squared Ventures Limited (50%) and RIF Investments Limited (50%), both incorporated in England and Wales.

The ultimate controlling parties are Mr M B Hornung and Mr M J Ellis.