1.
General Information
Advanced Blast & Ballistic Systems Limited
is a private company, limited by shares, incorporated in England & Wales, registered number
7025669
. The registered office is 4 Firs Close, St. Martins, Oswestry, Shropshire, SY11 3LT.
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 Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention modified to include the revaluation of patents. The principal accounting policies adopted are set out below.
2.2.
Going Concern Disclosure
The directors have prepared the accounts on the going concern basis as they expect that the company will have sufficient resources to meet its commitments for a period of 12 months from the date of approval of the accounts. The company is dependant upon support from one of its directors in the form of a loan advance, repayment of which has been deferred until such time as the company has the resources to enable repayment.
2.3.
Significant judgements and estimations
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
Key sources of estimation uncertainty
The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.
Recoverability of related party loans
The company has made loans to related parties totalling £618,375, the recoverability of which is dependant upon the ability of those related parties to exploit and commercialise the intellectual property developed over a number of years. The directors are satisfied that no provision against the recoverability of those related party loans is required as they anticipate that with the realisation of commercial income streams from that intellectual property, the loans will be recoverable in full.
Patent registrations
The company has, over a number of years, developed blast protection technology with the intention of exploiting the commercialisation of that technology. It has protected it rights in technology by the registration of patents which at 31 October 2025 had a book amount of £1,504,081. The directors have determined that this amount represents not more than the commercial value of those patents.
2.4.
Turnover
Turnover includes consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT.
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.
2.5.
Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are patents. It is amortised to the profit and loss account over its estimated economic life of 15 years.
Advanced Blast & Ballistic Systems Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 October 2025
2.6.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Plant & Machinery |
|
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.
2.7.
Financial Instruments
The company only has financial instruments that are classified as basic financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price and subsequently carried at amortised cost less impairment.
Classification of financial liabilities
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.
Basic financial liabilities
Basic financial liabilities, including creditors, are initially recognised at transaction price and subsequently measured at amortised cost.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.
2.8.
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
Advanced Blast & Ballistic Systems Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 October 2025
2.9.
Fixed asset investments
Interests in associates are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.
2.10.
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount.
2.11.
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.
3.
Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2024: 4)
4.
Intangible Assets
| Other | |||
|---|---|---|---|
| £ | |||
| Cost | |||
| As at 1 November 2024 |
|
||
| Additions |
|
||
| As at 31 October 2025 |
|
||
| Amortisation | |||
| As at 1 November 2024 |
|
||
| Provided during the period |
|
||
| As at 31 October 2025 |
|
||
| Net Book Value | |||
| As at 31 October 2025 |
|
||
| As at 1 November 2024 |
|
||
Advanced Blast & Ballistic Systems Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 October 2025
5.
Tangible Assets
| Plant & Machinery | |
|---|---|
| £ | |
| Cost | |
| As at 1 November 2024 |
|
| As at 31 October 2025 |
|
| Depreciation | |
| As at 1 November 2024 |
|
| Provided during the period |
|
| As at 31 October 2025 |
|
| Net Book Value | |
| As at 31 October 2025 |
|
| As at 1 November 2024 |
|
6.
Investments
| Associates | |
|---|---|
| £ | |
| Cost or Valuation | |
| As at 1 November 2024 |
|
| Disposals |
( |
| As at 31 October 2025 |
|
| Provision | |
| As at 1 November 2024 |
|
| As at 31 October 2025 |
|
| Net Book Value | |
| As at 31 October 2025 |
|
| As at 1 November 2024 |
|
7.
Debtors
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Due within one year | |||
| Trade debtors |
|
|
|
| Amounts owed by participating interests | 467,651 | 450,366 | |
| Other debtors | 23,438 | 26,315 | |
|
|
|
||
| Due after more than one year | |||
| Other debtors | 150,444 | 148,629 | |
|
|
|
||
Advanced Blast & Ballistic Systems Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 October 2025
8.
Creditors: Amounts Falling Due Within One Year
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Trade creditors |
|
|
|
| Bank loans and overdrafts |
|
|
|
| Other creditors | 245,361 | 71,232 | |
| Taxation and social security | - |
|
|
|
|
|
||
9.
Creditors: Amounts Falling Due After More Than One Year
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Bank loans |
|
|
|
| Other loans |
|
|
|
| Other creditors | 140,046 | 142,657 | |
|
|
|
||
11.
Related Party Transactions
Included within creditors is the following balance, in respect of companies which are related by virtue of common ownership and directorship:
At the year-end, an amount of £267,885 (2024: £215,785) was owed to Sloman & Associates Limited.
Included within debtors are the following balances, in respect of companies which are related by virtue of common ownership and directorship:
At the year-end, an amount of £199,309 (2024: £177,224) was owed from Advanced Reaction Motor Systems Limited.
At the year-end, an amount of £268,342 (2024: £273,142) was owed from Active VTOL Crash Prevention Limited.
At the year-end, an amount of £280 (2024: £369) was owed from Gellaw 301 Limited.
At the year-end, an amount of £150,444 (2024: £148,629) was owed from Active Safety System Technologies Inc.
12.
Profit and loss reserves
|
2025
|
2024
|
||
|
£
|
£
|
||
|
At the beginning of the year
|
(1,092,348)
|
(786,199)
|
|
|
Loss for the year
|
(376,746)
|
(306,149)
|
|
![image](data:image/svg+xml;utf8,<svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 80 2" preserveAspectRatio="none">
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</svg>){kind=small}
|
|
||
|
At the end of the year
|
(1,469,094)
![image](data:image/svg+xml;utf8,<svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 80 5" preserveAspectRatio="none">
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</svg>){kind=small}
|
(1,092,348)
|
Included within profit and loss reserves are non-distributable profits, as set out below:
...CONTINUED
Advanced Blast & Ballistic Systems Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 October 2025
|
2025
|
2024
|
||
|
£
|
£
|
||
|
Non-distributable profits included above
|
|||
|
At the beginning of the year
|
910,130
|
985,974
|
|
|
Non-distributable profits in the year
|
(75,844)
|
(75,844)
|
|
|
|
|
||
|
At the end of the year
|
834,286
|
910,130
|
|
|
Distributable profits
|
(2,303,380)
|
(2,002,478)
|