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REGISTERED NUMBER: 10480982 (England and Wales)













Financial Statements

for the Year Ended 30 November 2023

for

Advanced Electric Machines
Research Limited

Advanced Electric Machines
Research Limited (Registered number: 10480982)






Contents of the Financial Statements
for the Year Ended 30 November 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Advanced Electric Machines
Research Limited

Company Information
for the Year Ended 30 November 2023







DIRECTORS: M N O'Neill
A Steven
J Widmer
M J Woodcock
C L Burgess



REGISTERED OFFICE: Teal House
10 Teal Farm Way
WASHINGTON
Tyne and Wear
NE38 8BG



REGISTERED NUMBER: 10480982 (England and Wales)



SENIOR STATUTORY AUDITOR: Kevin Shotton BA BFP FCA



AUDITORS: Clive Owen LLP
Chartered Accountants
& Statutory Auditors
140 Coniscliffe Road
Darlington
County Durham
DL3 7RT

Advanced Electric Machines
Research Limited (Registered number: 10480982)

Balance Sheet
30 November 2023

2023 2022
Notes £    £   
CURRENT ASSETS
Cash at bank 1,151 1,136
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,151

1,136

CREDITORS
Amounts falling due after more than one
year

4

603,381

603,366
NET LIABILITIES (602,230 ) (602,230 )

CAPITAL AND RESERVES
Called up share capital 5 12 12
Retained earnings (602,242 ) (602,242 )
SHAREHOLDERS' FUNDS (602,230 ) (602,230 )

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 1 August 2024 and were signed on its behalf by:





J Widmer - Director


Advanced Electric Machines
Research Limited (Registered number: 10480982)

Notes to the Financial Statements
for the Year Ended 30 November 2023

1. STATUTORY INFORMATION

Advanced Electric Machines Research 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.

There were no material departures from that standard.

The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.

Going concern
On 31 March 2021 the company hived up its trade and assets to Advanced Electric Machines Limited and has not traded since. The financial statements have been prepared on a break up basis as the directors do not consider the company to be a going concern. All assets and liabilities at the balance sheet date have been reviewed and appropriately reflect their realisable value.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Financial instruments
Basic financial instruments are recognised at amortised cost with changes recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Advanced Electric Machines
Research Limited (Registered number: 10480982)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

3. EMPLOYEES AND DIRECTORS

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

4. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Amounts owed to group undertakings 603,381 603,366

5. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1,222 Ordinary £0.01 12 12

6. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

We draw attention to Note 2 to the financial statements which explains that the company ceased trading on 31 March 2021 and therefore, the directors do not consider it to be appropriate to adopt the going concern basis of accounting in preparing the financial statements. Accordingly the financial statements have been prepared on a basis other than going concern.

Our opinion is not modified in respect of this matter.

Kevin Shotton BA BFP FCA (Senior Statutory Auditor)
for and on behalf of Clive Owen LLP

7. ULTIMATE PARENT COMPANY

The ultimate parent company is Advanced Electric Machines Group Ltd. The registered office is Teal House, 10 Teal Farm Way, Washington, Tyne and Wear, NE38 8BG.

8. CROSS GUARANTEE

The company has an unlimited cross guarantee dated 18 November 2021 given by Northstar Ventures Limited over any freehold or leasehold property now and in the future owned by the company or in which the company may have an interest. No liability is expected to arise in relation to this guarantee as at the year end.