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REGISTERED NUMBER: 07457332 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

AIC (Agricultural Industrial Components)
Limited

AIC (Agricultural Industrial Components)
Limited (Registered number: 07457332)






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


AIC (Agricultural Industrial Components)
Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: Mr D C Walter
Mrs A L Walter



REGISTERED OFFICE: 7 Cooks Lane
Southbourne
Emsworth
Hampshire
PO10 8LG



REGISTERED NUMBER: 07457332 (England and Wales)



ACCOUNTANTS: Direct Accounting
7 Cooks Lane
Southbourne
Emsworth
Hampshire
PO10 8LG



BANKERS: Lloyds TSB
10 East Street
Chichester
West Sussex
PO19 1HJ

AIC (Agricultural Industrial Components)
Limited (Registered number: 07457332)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 18,678 24,894
18,678 24,894

CURRENT ASSETS
Stocks 375 500
Debtors 6 34,476 37,630
Cash at bank and in hand 98,082 85,860
132,933 123,990
CREDITORS
Amounts falling due within one year 7 36,544 36,295
NET CURRENT ASSETS 96,389 87,695
TOTAL ASSETS LESS CURRENT
LIABILITIES

115,067

112,589

PROVISIONS FOR LIABILITIES 3,036 3,036
NET ASSETS 112,031 109,553

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 112,030 109,552
SHAREHOLDERS' FUNDS 112,031 109,553

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.

AIC (Agricultural Industrial Components)
Limited (Registered number: 07457332)

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:





Mr D C Walter - Director


AIC (Agricultural Industrial Components)
Limited (Registered number: 07457332)

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

1. STATUTORY INFORMATION

AIC (Agricultural Industrial Components) 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of three years.

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.

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 - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% 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
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 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.

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 2 (2022 - 2 ) .

AIC (Agricultural Industrial Components)
Limited (Registered number: 07457332)

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

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 10,000
AMORTISATION
At 1 January 2023
and 31 December 2023 10,000
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 January 2023
and 31 December 2023 33,157 2,406 3,865 39,428
DEPRECIATION
At 1 January 2023 10,033 2,085 2,416 14,534
Charge for year 5,781 72 363 6,216
At 31 December 2023 15,814 2,157 2,779 20,750
NET BOOK VALUE
At 31 December 2023 17,343 249 1,086 18,678
At 31 December 2022 23,124 321 1,449 24,894

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 34,063 37,279
Other debtors 413 351
34,476 37,630

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 12,408 17,849
Taxation and social security 22,612 17,001
Other creditors 1,524 1,445
36,544 36,295

AIC (Agricultural Industrial Components)
Limited (Registered number: 07457332)

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

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Mr D Walter was paid £480 during the year for the use of his private residence as a business office.

Dividends of £40,000 (2022: £51,500) were voted to Mr D Walter during the year.

9. ULTIMATE CONTROLLING PARTY

The controlling party is Mr D C Walter.