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REGISTERED NUMBER: 01679686 (England and Wales)











ASSOCIATED ENGINEERING SERVICES LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2023






ASSOCIATED ENGINEERING SERVICES LIMITED (REGISTERED NUMBER: 01679686)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023










Page

Abridged Balance Sheet 1

Notes to the Financial Statements 3


ASSOCIATED ENGINEERING SERVICES LIMITED (REGISTERED NUMBER: 01679686)

ABRIDGED BALANCE SHEET
30 APRIL 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 66,391 90,788

CURRENT ASSETS
Stocks 87,883 84,979
Debtors 5 3,418,801 3,214,384
Prepayments and accrued income 40,754 34,338
Cash at bank 846,268 869,702
4,393,706 4,203,403
CREDITORS
Amounts falling due within one year 1,373,315 1,434,189
NET CURRENT ASSETS 3,020,391 2,769,214
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,086,782

2,860,002

CREDITORS
Amounts falling due after more than one year (83,333 ) (123,729 )

PROVISIONS FOR LIABILITIES (461 ) (910 )

ACCRUALS AND DEFERRED INCOME (203,257 ) (142,645 )
NET ASSETS 2,799,731 2,592,718

CAPITAL AND RESERVES
Called up share capital 6 1,000 1,000
Retained earnings 2,798,731 2,591,718
SHAREHOLDERS' FUNDS 2,799,731 2,592,718

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

ASSOCIATED ENGINEERING SERVICES LIMITED (REGISTERED NUMBER: 01679686)

ABRIDGED BALANCE SHEET - continued
30 APRIL 2023


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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 April 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved and authorised for issue by the Board of Directors and authorised for issue on 17 October 2023 and were signed on its behalf by:





D P Kirby - Director


ASSOCIATED ENGINEERING SERVICES LIMITED (REGISTERED NUMBER: 01679686)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023


1. STATUTORY INFORMATION

Associated Engineering Services Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 01679686

Registered office: 72 Tenter Road
Moulton Park
Northampton
NN3 6AX

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.

Revenue
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the entity and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods
Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
- the company has transferred the significant risks and rewards of ownership to the buyer;
- the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
- the amount of revenue can be measured reliably;
- it is probable that the company will receive the consideration due under the transaction; and
- the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
- the amount of revenue can be measured reliably;
- it is probable that the company will receive the consideration due under the contract;
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and
- the costs incurred and the costs to complete the contract can be measured reliably.

Long term contracts
Profit on long term contracts is recognised as the work is carried out, if the final outcome can be assessed with reasonable certainty. The profit included is calculated on a prudent basis to reflect the proportion of the work carried out at the year end, by recording turnover and related costs as contract activity progresses. Turnover is calculated as work is conducted and costs incurred. Turnover derived from variations on contracts is recognised only when they have been accepted by the customer. Full provision is made for losses on all contracts in the period in which they are first foreseen.

ASSOCIATED ENGINEERING SERVICES LIMITED (REGISTERED NUMBER: 01679686)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2023


2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Depreciation is provided on the following basis:

Tools- 25% reducing balance
Motor vehicles- 25% reducing balance
Fixtures and fittings- 25% reducing balance
Computer equipment- 60% reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Debtors and creditors
Debtors receivable / creditors payable within one year are measured at transaction price (less any impairment losses on debtors for bad and doubtful debts). Loans and other financial assets / liabilities are initially measured at transaction price and subsequently measured at amortised cost determined using the effective interest method (less any impairment losses on debtors) for bad and doubtful debts.

Any losses arising from impairment are recognised in the profit and loss account.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

ASSOCIATED ENGINEERING SERVICES LIMITED (REGISTERED NUMBER: 01679686)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2023


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 70 (2022 - 73 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 May 2022 606,094
Additions 27,600
Disposals (215,500 )
At 30 April 2023 418,194
DEPRECIATION
At 1 May 2022 515,306
Charge for year 35,459
Eliminated on disposal (198,962 )
At 30 April 2023 351,803
NET BOOK VALUE
At 30 April 2023 66,391
At 30 April 2022 90,788

5. DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Trade debtors 312,378 299,701

6. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1,000 Ordinary shares 1 1,000 1,000

7. PENSION COMMITMENTS

The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. The pension amount outstanding at the year end was £24,123 (2022- £25,281).

ASSOCIATED ENGINEERING SERVICES LIMITED (REGISTERED NUMBER: 01679686)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2023


8. OTHER FINANCIAL COMMITMENTS

At the balance sheet date other financial commitments, in the form of operating leases, amount to £367,694 (2022- £331,256).

9. RELATED PARTY TRANSACTIONS

During the year, the company rented some of its premises from the directors of the company for £20,350 (2022 - £20,350).