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Application Engineering & Maintenance Limited
Registered Number:02677615
For the year ended 31 July 2023
England and Wales
Unaudited Financial Statements
2
For the year ended 31 July 2023
Application Engineering & Maintenance Limited
Contents Page
1
Statement of Financial Position
2 to 4
Notes to the Financial Statements
3
Registered Number :
02677615
As at 31 July 2023
Application Engineering & Maintenance Limited
Statement of Financial Position
£
£
2022
2023
Notes
Fixed assets
Property, plant and equipment
2,004
3,822
2
2,004
3,822
Current assets
Inventories
1,570
2,498
3
Trade and other receivables
49,297
60,491
4
235,067
Cash and cash equivalents
169,383
232,372
285,934
Trade and other payables: amounts falling due within one
year
(154,222)
(112,502)
5
131,712
119,870
Net current assets
Total assets less current liabilities
121,874
135,534
121,874
Net assets
135,534
Capital and reserves
Called up share capital
100
100
Retained earnings
121,774
135,434
121,874
135,534
Shareholders' funds
For the year ended 31 July 2023 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
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 proper 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 Section
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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
S Kozak Director
P Galatola Director
These financial statements were approved and authorised for issue by the Board on 13 February 2024 and were signed by:
The notes form part of these financial statements
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4
For the year ended 31 July 2023
Application Engineering & Maintenance Limited
Notes to the Financial Statements
Statutory Information
Application Engineering & Maintenance Limited is a private limited company, limited by shares, domiciled in England
and Wales, registration number 02677615.
Registered address:
Unit 4B
Tomo Trading Estate, Packet Boat Lane
Uxbridge
Middlesex
UB8 2JP
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial
Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the
Companies Act 2006. The financial statements have been prepared under the historical costs convention.
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Property, plant and equipment
Property, plant and equipment, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and machinery
20% Straight line
20% Straight line
Fixtures and fittings
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants received towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred or conditions fulfilled.
Inventories
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
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.
Hire purchase and leasing commitments
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme for the benefit of its directors/and employees. Contributions payable are charged to the profit and loss account in the period in which they are payable.
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5
For the year ended 31 July 2023
Application Engineering & Maintenance Limited
Notes to the Financial Statements Continued
Financial Instruments
Financial instruments are recognised in the company's balance sheet when the company become party to the
contractual provisions of the instrument.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initial measured at transaction price.
Basic financial liabilities
Basic financial liabilities are initially recognised at transaction price unless the arrangement constitutes a financing
transaction, where the debt instrument is measured at the present value of the future payments discounted at a
market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Other financial instruments
Where investments are publicly traded or their fair value can otherwise be measured reliably, the investment is
subsequently measured at fair value with changes in fair value recognised in profit or loss.
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received. Dividends payable on equity
instruments are recognised as liabilities once they are no longer at the discretion of the company.
2. Property, plant and equipment
Total
Fixtures and
fittings
Plant and
machinery
£
£
£
Cost or
valuation
At 01 August 2022
64,330
54,434
9,896
At 31 July 2023
9,896
54,434
64,330
Provision for depreciation and impairment
At 01 August 2022
60,508
50,612
9,896
Charge for year
1,818
1,818
-
At 31 July 2023
62,326
52,430
9,896
At 31 July 2023
Net book value
-
2,004
2,004
At 31 July 2022
-
3,822
3,822
3. Inventories
2022
2023
£
£
Stocks
2,498
1,570
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6
For the year ended 31 July 2023
Application Engineering & Maintenance Limited
Notes to the Financial Statements Continued
4. Trade and other receivables
2022
2023
£
£
Trade debtors
58,553
47,385
Prepayments and accrued income
1,938
1,898
Other debtors
-
14
49,297
60,491
5. Trade and other payables: amounts falling due within one year
2022
2023
£
£
Trade creditors
8,202
1,876
Taxation and social security
30,853
25,202
Accruals and deferred income
3,136
6,358
Directors' loan accounts
70,311
120,786
112,502
154,222
6. Guarantees and other financial commitments
Lease commitments
At 31 July 2023 the company had annual commitments under non-cancellable operating leases as set out below:
2022
£
2023
£
Operating leases which expire:
1,480
1,400
Within 1 year
1,480
1,400
7. Average number of persons employed
During the year the average number of employees was 3 (2022 : 3)
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