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REGISTERED NUMBER: 03034058 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

ACTUATION VALVE & CONTROL LIMITED

ACTUATION VALVE & CONTROL LIMITED (REGISTERED NUMBER: 03034058)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ACTUATION VALVE & CONTROL LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: P Jackson
L Parker





SECRETARY: Mrs J Parker





REGISTERED OFFICE: Unit F Centro Park Beckett Close
Knowsley Industrial Park
Liverpool
L33 7XS





REGISTERED NUMBER: 03034058 (England and Wales)





ACCOUNTANTS: Coburn McKenna - Chartered Accountants
81-83a Allerton Road
Liverpool
Merseyside
L18 2DA

ACTUATION VALVE & CONTROL LIMITED (REGISTERED NUMBER: 03034058)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £ £ £ £
FIXED ASSETS
Intangible assets 4 3,695 8,235
Tangible assets 5 122,086 157,186
125,781 165,421

CURRENT ASSETS
Stocks 301,777 253,333
Debtors 6 273,473 153,559
Cash at bank and in hand 64,401 159,750
639,651 566,642
CREDITORS
Amounts falling due within one year 7 556,896 427,385
NET CURRENT ASSETS 82,755 139,257
TOTAL ASSETS LESS CURRENT LIABILITIES 208,536 304,678

CREDITORS
Amounts falling due after more than one
year

8

(109,385

)

(166,729

)

PROVISIONS FOR LIABILITIES (30,522 ) (39,123 )
NET ASSETS 68,629 98,826

CAPITAL AND RESERVES
Called up share capital 30,009 30,009
Retained earnings 38,620 68,817
68,629 98,826

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

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

ACTUATION VALVE & CONTROL LIMITED (REGISTERED NUMBER: 03034058)

BALANCE SHEET - continued
31 DECEMBER 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 Board of Directors and authorised for issue on 9 September 2024 and were signed on its behalf by:





L Parker - Director


ACTUATION VALVE & CONTROL LIMITED (REGISTERED NUMBER: 03034058)

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


1. STATUTORY INFORMATION

Actuation Valve & Control 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.

INTANGIBLE ASSETS
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of five years.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - 10% on cost
Plant and machinery - 20% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on reducing balance
Office equipment - straight line over 3 years and 20% on cost

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.


ACTUATION VALVE & CONTROL LIMITED (REGISTERED NUMBER: 03034058)

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


2. ACCOUNTING POLICIES - continued
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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 9 (2022 - 8 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£
COST
At 1 January 2023
and 31 December 2023 22,700
AMORTISATION
At 1 January 2023 14,465
Charge for year 4,540
At 31 December 2023 19,005
NET BOOK VALUE
At 31 December 2023 3,695
At 31 December 2022 8,235

ACTUATION VALVE & CONTROL LIMITED (REGISTERED NUMBER: 03034058)

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


5. TANGIBLE FIXED ASSETS
Fixtures
Improvements Plant and and
to property machinery fittings
£ £ £
COST
At 1 January 2023 16,926 19,769 6,268
Additions - 1,844 129
At 31 December 2023 16,926 21,613 6,397
DEPRECIATION
At 1 January 2023 3,542 12,830 4,784
Charge for year 1,693 2,896 525
At 31 December 2023 5,235 15,726 5,309
NET BOOK VALUE
At 31 December 2023 11,691 5,887 1,088
At 31 December 2022 13,384 6,939 1,484

Motor Office
vehicles equipment Totals
£ £ £
COST
At 1 January 2023 134,681 100,067 277,711
Additions - 5,064 7,037
At 31 December 2023 134,681 105,131 284,748
DEPRECIATION
At 1 January 2023 12,743 86,626 120,525
Charge for year 30,484 6,539 42,137
At 31 December 2023 43,227 93,165 162,662
NET BOOK VALUE
At 31 December 2023 91,454 11,966 122,086
At 31 December 2022 121,938 13,441 157,186

ACTUATION VALVE & CONTROL LIMITED (REGISTERED NUMBER: 03034058)

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


5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£
COST
At 1 January 2023
and 31 December 2023 134,681
DEPRECIATION
At 1 January 2023 12,743
Charge for year 30,484
At 31 December 2023 43,227
NET BOOK VALUE
At 31 December 2023 91,454
At 31 December 2022 121,938

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Trade debtors 253,637 135,640
Other debtors 19,836 17,919
273,473 153,559

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Bank loans and overdrafts 30,000 30,000
Hire purchase contracts 27,344 24,674
Trade creditors 248,540 203,699
Taxation and social security 81,839 13,479
Other creditors 169,173 155,533
556,896 427,385

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£ £
Bank loans 45,000 75,000
Hire purchase contracts 64,385 91,729
109,385 166,729

ACTUATION VALVE & CONTROL LIMITED (REGISTERED NUMBER: 03034058)

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


9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£ £
Hire purchase contracts 91,729 116,403

There is a fixed and floating charge over the company's assets held in respect of the overdraft facility granted to the company. Hire purchase borrowings are secured on the assets that are the subject of the finance agreements.

10. OTHER FINANCIAL COMMITMENTS

At the reporting date, the company had financial commitments under non-cancellable operating leases of £134,333(2022: £8,901). Within these commitments, £31,000 (2022: £8,901) fall due within twelve months of the reporting date.

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the reporting date an outstanding balance of £784 (31.12.2022: £796) was due from Mr C Parker, a former director. The loan was interest-free and repayable on demand.