Ashton Bentley Technology Limited - Period Ending 2021-09-30

Ashton Bentley Technology Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 6

Ashton Bentley Technology Limited

Company Information

Directors

Mr R N McArdell Mr A W Leedham

Company secretary

Michelmores Secretaries Limited

Registered office

12th Floor 6 New Street Square London EC4A 3BF

Accountants

Francis Clark LLP Centenary House Peninsula Park Rydon Lane Exeter Devon EX2 7XE

Ashton Bentley Technology Limited

Balance Sheet

30 September 2021

	Note	2021 £	2020 £
Fixed assets
Intangible assets	4	82,048	-
Current assets
Debtors	5	35,162	101,982
Cash at bank and in hand		66	21
		35,228	102,003
Net assets		117,276	102,003
Capital and reserves
Called up share capital	6	100	100
Profit and loss account		117,176	101,903
Shareholders' funds		117,276	102,003

For the financial year ending 30 September 2021 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 26 September 2022 and signed on its behalf by:
 

......................................... Mr R N McArdell Director

Company Registration Number: 09789878

Ashton Bentley Technology Limited

Notes to the Unaudited Financial Statements

Year Ended 30 September 2021

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:
12th Floor
6 New Street Square
London
EC4A 3BF

The principal place of business is:
23 Schooner Park
Schooner Court
Crossways Business Park
Dartford
DA2 6NW

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. There are no material departures from FRS 102.

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.

The functional currency of Ashton Bentley Technology Limited is considered to be pounds sterling because it is the currency of the primary economic environment in which the company operates.

Going concern

Following the impact of the Covid-19 pandemic on the company and wider economy, the Directors have reviewed forecast cash flows and available facilities for the group for a period of at least 12 months from the approval of these financial statements, including those entered into since the period end. The Directors have concluded that these are sufficient to support the going concern status of the company. As such, the financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises revenue recognised by the company in respect of goods and services supplied during the year, exclusive of Value Added Tax and trade discounts.

Royalties are recognised over the period to which they relate.

Ashton Bentley Technology Limited

Notes to the Unaudited Financial Statements

Year Ended 30 September 2021

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.

Tax

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.

Intangible assets

Separately acquired trademarks and licences are shown at historical cost.

Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.

Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

Amortisation

Asset class	Amortisation method and rate
Trademarks, patents and licenses	5 years straight line

Financial instruments

Classification
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 net assets of the company.

 Recognition and measurement
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.

The company holds the following financial instruments:

• Short term trade debtors and creditors; and
• Group balances.

All of the financial instruments of the company are considered to be basic financial instruments. Such instruments are initially measured at transaction price, including transaction costs. Those instruments considered current 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.

Ashton Bentley Technology Limited

Notes to the Unaudited Financial Statements

Year Ended 30 September 2021

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2020 - 2).

The company does not employ any staff other than the directors. The directors are remunerated from another group company.

4	Intangible assets

	Trademarks, patents and licenses  £	Total £
Cost or valuation
Additions acquired separately	102,560	102,560
At 30 September 2021	102,560	102,560
Amortisation
Amortisation charge	20,512	20,512
At 30 September 2021	20,512	20,512
Carrying amount
At 30 September 2021	82,048	82,048

5

Debtors

	2021  £	2020  £
Amounts owed by group undertakings	32,053	98,873
Other debtors	3,109	3,109
	35,162	101,982

6	Share capital

Allotted, called up and fully paid shares

	2021		2020
	No.	£	No.	£
Ordinary shares of £1 each	100	100	100	100

Ashton Bentley Technology Limited

Notes to the Unaudited Financial Statements

Year Ended 30 September 2021

7	Related party transactions

Summary of transactions with other related parties

During the year, intangible assets with a carrying value of £72,961 were transferred to the company from a fellow subsidiary of Ashton Bentley Group Limited.

8	Parent and ultimate parent undertaking

The directors consider there to be no ultimate controlling party or individual.

 The company's immediate parent is Ashton Bentley Group Limited, incorporated in England and Wales.