Applied Torque Engineering Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07396264

Unaudited Financial Statements

for the Year Ended 31 December 2021

for

APPLIED TORQUE ENGINEERING LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

6

DIRECTOR:

W M Turner

SECRETARY:

REGISTERED OFFICE:

Fairway House

Links Business Park

St melons

Cardiff

CF3 0LT

REGISTERED NUMBER:

07396264

ACCOUNTANTS:

Hayvenhursts

Fairway House

Links Business Park

St Mellons

Cardiff

CF3 OLT

FIXED ASSETS

Intangible assets

4

-

18,000

CURRENT ASSETS

Debtors

5

-

125,661

Cash at bank and in hand

-

180

-

125,841

CREDITORS

Amounts falling due within one year

6

(102,308

)

(228,150

)

NET CURRENT LIABILITIES

(102,308

)

(102,309

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(102,308

)

(84,309

)

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

(103,308

)

(85,309

)

SHAREHOLDERS' FUNDS

(102,308

)

(84,309

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 19 July 2022 and were signed by:

W M Turner - Director

1.	STATUTORY INFORMATION

Applied Torque Engineering Ltd is a private company, limited by shares , registered in Not specified/Other. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being fully amortised in the current year.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2020 - NIL).

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2021

and 31 December 2021

18,000

AMORTISATION

Charge for year

18,000

At 31 December 2021

18,000

NET BOOK VALUE

At 31 December 2021

-

At 31 December 2020

18,000

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

-

95,032

Associated companies

-

30,629

-

125,661

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade creditors

-

165,483

Directors' current accounts

102,308

60,786

Accrued expenses

-

1,881

102,308

228,150

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Applied Torque Engineering Ltd for the year ended 31 December 2021 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Applied Torque Engineering Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Applied Torque Engineering Ltd and state those matters that we have agreed to state to the director of Applied Torque Engineering Ltd in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Applied Torque Engineering Ltd and its director for our work or for this report.

It is your duty to ensure that Applied Torque Engineering Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Applied Torque Engineering Ltd. You consider that Applied Torque Engineering Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Applied Torque Engineering Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Hayvenhursts

Fairway House

Links Business Park

St Mellons

Cardiff

CF3 OLT

19 July 2022