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REGISTERED NUMBER: 03611042 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

FOR

ASSOCIATED CONTROL SYSTEMS LIMITED

ASSOCIATED CONTROL SYSTEMS LIMITED (REGISTERED NUMBER: 03611042)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


ASSOCIATED CONTROL SYSTEMS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2023







DIRECTOR: R I Harper





REGISTERED OFFICE: 34 Waterloo Road
Wolverhampton
West Midlands
WV1 4DG





REGISTERED NUMBER: 03611042 (England and Wales)





ACCOUNTANTS: Crombies Accountants Limited
Chartered Accountants
34 Waterloo Road
Wolverhampton
West Midlands
WV1 4DG

ASSOCIATED CONTROL SYSTEMS LIMITED (REGISTERED NUMBER: 03611042)

STATEMENT OF FINANCIAL POSITION
31 JULY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,182 2,270
Investment property 5 238,000 238,000
241,182 240,270

CURRENT ASSETS
Stocks 126,276 -
Debtors 6 15,514 5,515
Cash at bank 997 234,590
142,787 240,105
CREDITORS
Amounts falling due within one year 7 20,539 42,784
NET CURRENT ASSETS 122,248 197,321
TOTAL ASSETS LESS CURRENT
LIABILITIES

363,430

437,591

CREDITORS
Amounts falling due after more than one
year

8

(18,333

)

(29,167

)

PROVISIONS FOR LIABILITIES (13,900 ) (10,500 )
NET ASSETS 331,197 397,924

CAPITAL AND RESERVES
Called up share capital 2 2
Fair value revaluation reserve 9 51,767 51,767
Retained earnings 9 279,428 346,155
SHAREHOLDERS' FUNDS 331,197 397,924

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 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.

ASSOCIATED CONTROL SYSTEMS LIMITED (REGISTERED NUMBER: 03611042)

STATEMENT OF FINANCIAL POSITION - continued
31 JULY 2023


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 26 January 2024 and were signed by:





R I Harper - Director


ASSOCIATED CONTROL SYSTEMS LIMITED (REGISTERED NUMBER: 03611042)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

1. STATUTORY INFORMATION

Associated Control Systems Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on cost
Fixtures and fittings - 15% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

ASSOCIATED CONTROL SYSTEMS LIMITED (REGISTERED NUMBER: 03611042)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - 3 ).

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and
property fittings Totals
£    £    £   
COST
At 1 August 2022 8,857 14,972 23,829
Additions - 2,501 2,501
Disposals - (1,422 ) (1,422 )
At 31 July 2023 8,857 16,051 24,908
DEPRECIATION
At 1 August 2022 8,857 12,702 21,559
Charge for year - 562 562
Eliminated on disposal - (395 ) (395 )
At 31 July 2023 8,857 12,869 21,726
NET BOOK VALUE
At 31 July 2023 - 3,182 3,182
At 31 July 2022 - 2,270 2,270

5. INVESTMENT PROPERTY
Total
£   
COST OR VALUATION
At 1 August 2022
and 31 July 2023 238,000
NET BOOK VALUE
At 31 July 2023 238,000
At 31 July 2022 238,000

Following a market appraisal the Director has considered the fair value at the reporting date of the investment properties and they have been valued on the following basis: The estimated amount for which an asset or liability should exchange on the valuation date between a willing buyer and a willing seller in an arms length transaction, after proper marketing and where the parties had each acted knowledgeably, prudently and without compulsion.

Cost or valuation at 31 July 2023 is represented by:
£   
Valuation in 2021 62,293
Cost 175,707
238,000

ASSOCIATED CONTROL SYSTEMS LIMITED (REGISTERED NUMBER: 03611042)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 13,075 5,115
Other debtors 2,439 400
15,514 5,515

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 2,510 7,331
Taxation and social security 106 17,975
Other creditors 7,923 7,478
20,539 42,784

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 18,333 29,167

9. RESERVES
Fair
value
Retained revaluation
earnings reserve Totals
£    £    £   

At 1 August 2022 346,155 51,767 397,922
Deficit for the year (6,727 ) (6,727 )
Dividends (60,000 ) (60,000 )
At 31 July 2023 279,428 51,767 331,195

Fair value revaluation reserve includes a deferred tax provision of £10,500.