2023-04-012024-03-312024-03-31false05345019Associated Installations 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Associated Installations Limited

Registered Number
05345019
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

Associated Installations Limited
Company Information
for the year from 1 April 2023 to 31 March 2024

Directors

Mr B Bell
Mr J Bell
Mr M Bell
Mrs N Newman
Mr M Rowley

Registered Address

10 Western Road
Romford
RM1 3JT

Registered Number

05345019 (England and Wales)
Associated Installations Limited
Balance Sheet as at
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3471,997526,998
Investment property4250,000250,000
721,997776,998
Current assets
Stocks521,45120,080
Debtors6958,5771,328,190
Cash at bank and on hand1,372,689933,117
2,352,7172,281,387
Creditors amounts falling due within one year7(768,966)(894,156)
Net current assets (liabilities)1,583,7511,387,231
Total assets less current liabilities2,305,7482,164,229
Creditors amounts falling due after one year8(49,185)(149,001)
Provisions for liabilities10(92,113)(79,480)
Net assets2,164,4501,935,748
Capital and reserves
Called up share capital102102
Other reserves124,099124,099
Profit and loss account2,040,2491,811,547
Shareholders' funds132,164,4501,935,748
The financial statements were approved and authorised for issue by the Board of Directors on 29 July 2024, and are signed on its behalf by:
Mr B Bell
Director
Registered Company No. 05345019
Associated Installations Limited
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
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.
Statement of compliance
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.
Basis of preparation
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).
Functional and presentation currency
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.
Revenue from sale of goods
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.
Operating leases
Where, substantially, all the risks and rewards of ownership of the asset do not transfer from the lessor to the company, the lease is treated as an operating lease. Rentals payable under operating leases are charged to the profit and loss account on a straight-line basis over the period of the lease.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
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.
Current taxation
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
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.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows: Depreciation is recognised on freehold land and buildings on a 2% straight line basis.

Reducing balance (%)
Plant and machinery20
Fixtures and fittings15
Vehicles25
Investment property
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.
Finance leases and hire purchase contracts
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.
Stocks and work in progress
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
Trade and other debtors
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.
Trade and other creditors
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.
Government grants or assistance
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received. A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.
2.Average number of employees

20242023
Average number of employees during the year2423
3.Tangible fixed assets

Land & buildings

Plant & machinery

Vehicles

Fixtures & fittings

Total

£££££
Cost or valuation
At 01 April 23256,912308,995458,73993,9191,118,565
Additions-16,23282,70819,109118,049
Disposals-(197,928)(101,171)(22,879)(321,978)
At 31 March 24256,912127,299440,27690,149914,636
Depreciation and impairment
At 01 April 2335,966220,347278,80656,448591,567
Charge for year5,1389,03159,3267,42980,924
On disposals-(138,202)(75,833)(15,817)(229,852)
At 31 March 2441,10491,176262,29948,060442,639
Net book value
At 31 March 24215,80836,123177,97742,089471,997
At 31 March 23220,94688,648179,93337,471526,998
Lloyds Bank PLC hold a fixed and floating charge over the company's freehold property dated 9 December 2016.
4.Investment property
The fair value of the property at 31 March 2024 has been arrived at on the basis of a valuation carried out by Mr B Bell, a director of the company who is not a professionally qualified valuer. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties. The historical cost of the investment property is £125,901. Lloyds Bank PLC hold a fixed and floating charge over the company's investment property dated 21 February 2014.

£
Fair value at 01 April 23250,000
At 31 March 24250,000
5.Stocks

2024

2023

££
Raw materials and consumables21,45120,080
Total21,45120,080
6.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables921,8381,302,318
Other debtors2,56033
Prepayments and accrued income34,17925,839
Total958,5771,328,190
7.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables149,776303,166
Bank borrowings and overdrafts29,66229,470
Taxation and social security395,586471,793
Finance lease and HP contracts28,05659,583
Other creditors34,12611,542
Accrued liabilities and deferred income131,76018,602
Total768,966894,156
The company's obligations under finance leases shown as due both within and after one year are secured against the asset to which they relate. Lloyds TSB Bank PLC hold a debenture deed by way of a fixed and floating charge covering all money and liabilities owed to them dated 4 March 2011.
8.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts44,740106,875
Other creditors4,44542,126
Total49,185149,001
9.Obligations under finance leases

2024

2023

££
Finance lease and HP contracts4,44442,125
10.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)92,11379,480
Total92,11379,480
11.Other commitments
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows: 2024 £159,414 (2023 - £147,875).
12.Directors advances, credits and guarantees

Brought forward

Amount advanced

Amount repaid

Carried forward

££££
Mr B Bell(357)6,8235,621845
(357)6,8235,621845
At the year end the other directors were owed £3,757 (2023 - £4,915) by way of their current accounts.
13.Fair value reserve

£
Fair value reserve at 01 April 23124,099
At 31 March 24124,099