2022-10-012023-09-302023-09-30false02967781ASSOCIATED TECHNOLOGY SERVICES 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ASSOCIATED TECHNOLOGY SERVICES LIMITED

Registered Number
02967781
(England and Wales)

Unaudited Financial Statements for the Year ended
30 September 2023

ASSOCIATED TECHNOLOGY SERVICES LIMITED
Company Information
for the year from 1 October 2022 to 30 September 2023

Directors

BAKER, Brian Keith
BAKER, Diana Margaret
BAKER, Mathew James
DONACHIE-BAKER, Charlotte Ella

Registered Address

Unit 4 Westfield Court
Barns Ground
Clevedon
BS21 6FQ

Registered Number

02967781 (England and Wales)
ASSOCIATED TECHNOLOGY SERVICES LIMITED
Statement of Financial Position
30 September 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets799,717111,369
Investments8165165
99,882111,534
Current assets
Stocks91,166,6951,132,918
Debtors10789,650828,375
Cash at bank and on hand617639
1,956,9621,961,932
Creditors amounts falling due within one year11(1,622,503)(1,610,958)
Net current assets (liabilities)334,459350,974
Total assets less current liabilities434,341462,508
Creditors amounts falling due after one year12(110,122)(149,090)
Net assets324,219313,418
Capital and reserves
Called up share capital1616
Profit and loss account324,203313,402
Shareholders' funds324,219313,418
The financial statements were approved and authorised for issue by the Board of Directors on 23 November 2023, and are signed on its behalf by:
BAKER, Mathew James
Director
Registered Company No. 02967781
ASSOCIATED TECHNOLOGY SERVICES LIMITED
Notes to the Financial Statements
for the year ended 30 September 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Principal activities
The principal activities of the year under review was that of Energy Management Control Systems.
4.Basis of measurement used in financial statements
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).
5.Accounting policies
Functional and presentation currency policy
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
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.
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Land and buildings10
Plant and machinery25
Fixtures and fittings25
Office Equipment25
Stocks policy
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Revenue recognition policy
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.
Taxation policy
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax policy
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.
Research and development policy
Expenditure on research and development is written off in the year in which it is incurred.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leases policy
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Investments policy
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. 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.
Employee benefits policy
Contributions to defined contribution plans are expensed in the period to which they relate.
6.Employee information

20232022
Average number of employees during the year3231
7.Property, plant and equipment

Land & buildings

Plant & machinery

Fixtures & fittings

Office Equipment

Total

£££££
Cost or valuation
At 01 October 22166,4277106,78983,519257,445
Additions---1,5131,513
At 30 September 23166,4277106,78985,032258,958
Depreciation and impairment
At 01 October 2268,5876575,68371,149146,076
Charge for year9,784132763,09213,165
At 30 September 2378,3716705,95974,241159,241
Net book value
At 30 September 2388,0564083010,79199,717
At 30 September 2297,840531,10612,370111,369
8.Fixed asset investments

Investments in groups1

Total

££
Cost or valuation
At 01 October 22165165
At 30 September 23165165
Net book value
At 30 September 23165165
At 30 September 22165165

Notes

1Investments in group undertakings and participating interests
9.Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving stock. Cost is calculated using the first-in, first-out method and includes all purchases, transport, and handling costs in bringing stocks to their present location and condition.

2023

2022

££
Work in progress1,087,4891,071,543
Other stocks79,20661,375
Total1,166,6951,132,918
10.Debtors

2023

2022

££
Trade debtors / trade receivables463,002432,000
Other debtors326,648396,375
Total789,650828,375
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.
11.Creditors within one year

2023

2022

££
Trade creditors / trade payables816,212833,549
Bank borrowings and overdrafts86,57892,054
Taxation and social security94,214110,680
Other creditors625,499574,675
Total1,622,5031,610,958
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.
12.Creditors after one year

2023

2022

££
Bank borrowings and overdrafts110,122149,090
Total110,122149,090
13.Finance lease and HP contracts after one year
Rentals paid under operating leases are charged to profit and loss on a straight line basis over the period of the lease.