Albacore Systems Limited - Filleted accounts

Registered number

02699515

Albacore Systems Limited

Filleted Accounts

31 March 2025

Albacore Systems Limited
Registered number:		02699515
Balance Sheet
as at 31 March 2025

Notes			2025			2024
£				£
Fixed assets
Tangible assets	3		132,934			115,495
Investments	4		456,169			100
			589,103			115,595

Current assets
Stocks		44,976			30,503
Debtors	5	147,668			184,219
Cash at bank and in hand		985,832			1,421,637
		1,178,476			1,636,359

Creditors: amounts falling due within one year	6	(593,383)			(1,018,538)

Net current assets			585,093			617,821

Total assets less current liabilities			1,174,196			733,416

Provisions for liabilities			(47,250)			(28,874)


Net assets			1,126,946			704,542

Capital and reserves
Called up share capital			100			100
Revaluation reserve	7		56,069			-
Profit and loss account			1,070,777			704,442

Shareholders' funds			1,126,946			704,542

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




C G Atkinson
Director
Approved by the board on 11 December 2025

Albacore Systems Limited
Notes to the Accounts
for the year ended 31 March 2025


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Motor Vehicles	25% reducing balance
	Computer equipment	25% straight line
	Fixtures, fittings, tools and equipment	15% reducing balance

	Investments
	Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.


2	Employees			2025		2024
Number					Number

	Average number of persons employed by the company			23		23


3	Tangible fixed assets
		Plant and machinery etc		Motor vehicles		Total
£			£		£
	Cost
	At 1 April 2024	635,436		151,470		786,906
	Additions	49,563		23,236		72,799
	Disposals	-		(21,226)		(21,226)
	At 31 March 2025	684,999		153,480		838,479

	Depreciation
	At 1 April 2024	586,821		84,590		671,411
	Charge for the year	31,935		22,230		54,165
	On disposals	-		(20,031)		(20,031)
	At 31 March 2025	618,756		86,789		705,545

	Net book value
	At 31 March 2025	66,243		66,691		132,934
	At 31 March 2024	48,615		66,880		115,495


4	Investments

Other
investments
£
	Fair Value
	At 1 April 2024					100
	Additions					456,069

	At 31 March 2025					456,169
	The Gold and silver bullion held at the year end has been revalued at market value.


5	Debtors			2025		2024
£					£

	Trade debtors			134,972		171,523
	Other debtors			12,696		12,696
				147,668		184,219


6	Creditors: amounts falling due within one year			2025		2024
£					£

	Trade creditors			113,337		94,112
	Taxation and social security costs			389,391		314,308
	Other creditors			90,655		610,118
				593,383		1,018,538


7	Revaluation reserve			2025		2024
£					£

	Gain on revaluation of investments			56,069		-

	At 31 March 2025			56,069		-


8	Other information

	Albacore Systems Limited is a private company limited by shares and incorporated in England. Its registered office is:
	The Mill Yard, Nursling Street
	Nursling
	Southampton
	Hampshire
	SO16 0AJ