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REGISTERED NUMBER: 06408022 (England and Wales)










Unaudited Financial Statements for the Year Ended 31 May 2023

for

AAR POWERDRIVES LIMITED

AAR POWERDRIVES LIMITED (REGISTERED NUMBER: 06408022)

Contents of the Financial Statements
for the Year Ended 31 May 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


AAR POWERDRIVES LIMITED

Company Information
for the Year Ended 31 May 2023







DIRECTORS: D P Tarr
Mrs K Y Tarr





SECRETARY: Mrs K Y Tarr





REGISTERED OFFICE: Unit 27
Dawley Brook Trading Estate
Stallings Lane
Kingswinsford
West Midlands
DY6 7AP





REGISTERED NUMBER: 06408022 (England and Wales)






AAR POWERDRIVES LIMITED (REGISTERED NUMBER: 06408022)

Balance Sheet
31 May 2023

31.5.23 31.5.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 39,365 46,060

CURRENT ASSETS
Stocks 34,547 36,474
Debtors 5 145,654 58,883
Cash at bank and in hand 31,028 70,681
211,229 166,038
CREDITORS
Amounts falling due within one year 6 136,238 71,761
NET CURRENT ASSETS 74,991 94,277
TOTAL ASSETS LESS CURRENT
LIABILITIES

114,356

140,337

CREDITORS
Amounts falling due after more than one year 7 77,665 106,101
NET ASSETS 36,691 34,236

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 36,591 34,136
36,691 34,236

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

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

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 Board of Directors and authorised for issue on 21 February 2024 and were signed on its behalf by:





D P Tarr - Director


AAR POWERDRIVES LIMITED (REGISTERED NUMBER: 06408022)

Notes to the Financial Statements
for the Year Ended 31 May 2023


1. STATUTORY INFORMATION

AAR Powerdrives 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.

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.

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.
Plant and machinery etc - 25% on reducing balance, 15% on reducing balance and at variable rates on 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 5 ) .

AAR POWERDRIVES LIMITED (REGISTERED NUMBER: 06408022)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023


4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 June 2022 68,986 6,870 45,357 21,239 142,452
Additions 124 232 - 2,442 2,798
At 31 May 2023 69,110 7,102 45,357 23,681 145,250
DEPRECIATION
At 1 June 2022 43,760 6,581 28,033 18,018 96,392
Charge for year 3,792 213 4,331 1,157 9,493
At 31 May 2023 47,552 6,794 32,364 19,175 105,885
NET BOOK VALUE
At 31 May 2023 21,558 308 12,993 4,506 39,365
At 31 May 2022 25,226 289 17,324 3,221 46,060

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Trade debtors 105,520 28,225
Other debtors 40,134 30,658
145,654 58,883

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Bank loans and overdrafts 15,407 -
Hire purchase contracts 5,120 12,372
Trade creditors 79,406 38,060
Taxation and social security 16,368 14,934
Other creditors 19,937 6,395
136,238 71,761

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.5.23 31.5.22
£    £   
Bank loans 75,532 106,101
Hire purchase contracts 2,133 -
77,665 106,101

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 15,388 89,434

AAR POWERDRIVES LIMITED (REGISTERED NUMBER: 06408022)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023


8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 May 2023 and 31 May 2022:

31.5.23 31.5.22
£    £   
D P Tarr
Balance outstanding at start of year 7,705 (295 )
Amounts advanced 18,500 26,500
Amounts repaid (12,042 ) (18,500 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 14,163 7,705

Mrs K Y Tarr
Balance outstanding at start of year 7,704 (296 )
Amounts advanced 18,500 26,500
Amounts repaid (12,042 ) (18,500 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 14,162 7,704