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Registration number: 12389031

AE Technical Production Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

AE Technical Production Limited

Contents

Company Information

1

Director's Report

2

Accountants' Report

3

Profit and Loss Account and Statement of Retained Earnings

4

Balance Sheet

5 to 6

Notes to the Unaudited Financial Statements

7 to 12

 

AE Technical Production Limited

Company Information

Director

Mr SL Jones

Registered office

32 Pinchbeck Road
Spalding
Lincolnshire
PE11 1QD

Accountants

Cannon Williamson
Chartered Certified Accountants
Albion House
32 Pinchbeck Road
Spalding
Lincolnshire
PE11 1QD

 

AE Technical Production Limited

Director's Report for the Year Ended 31 December 2023

The director presents his report and the financial statements for the year ended 31 December 2023.

Director of the company

The director who held office during the year was as follows:

Mr SL Jones

Principal activity

The principal activity of the company is light and sound engineering.

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 20 September 2024
 

.........................................
Mr SL Jones
Director

 

Chartered Certified Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
AE Technical Production Limited
for the Year Ended 31 December 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of AE Technical Production Limited for the year ended 31 December 2023 as set out on pages 4 to 12 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.

This report is made solely to the Board of Directors of AE Technical Production Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of AE Technical Production Limited and state those matters that we have agreed to state to the Board of Directors of AE Technical Production Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/
october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than AE Technical Production Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that AE Technical Production Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of AE Technical Production Limited. You consider that AE Technical Production Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of AE Technical Production Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Cannon Williamson
Chartered Certified Accountants
Albion House
32 Pinchbeck Road
Spalding
Lincolnshire
PE11 1QD

22 September 2024

 

AE Technical Production Limited

Profit and Loss Account and Statement of Retained Earnings for the Year Ended 31 December 2023

Note

2023
£

2022
£

Turnover

 

132,073

124,414

Cost of sales

 

(38,978)

(37,565)

Gross profit

 

93,095

86,849

Administrative expenses

 

(66,050)

(50,508)

Other operating income

 

45,187

24,491

Operating profit

 

72,232

60,832

Other interest receivable and similar income

 

197

11

Interest payable and similar charges

 

(786)

(16)

 

(589)

(5)

Profit before tax

71,643

60,827

Taxation

 

5,580

(9,293)

Profit for the financial year

 

77,223

51,534

Retained earnings brought forward

 

40,472

15,938

Dividends paid

 

(35,282)

(27,000)

Retained earnings carried forward

 

82,413

40,472

 

AE Technical Production Limited

(Registration number: 12389031)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed Assets

 

Tangible Assets

4

84,125

33,466

Current assets

 

Debtors

5

1,636

8,473

Cash at bank and in hand

 

25,820

28,722

 

27,456

37,195

Creditors: Amounts falling due within one year

6

(9,611)

(19,212)

Net current assets

 

17,845

17,983

Total assets less current liabilities

 

101,970

51,449

Creditors: Amounts falling due after more than one year

6

(22,813)

(4,608)

Provisions for liabilities

3,266

(6,359)

Net assets

 

82,423

40,482

Capital and Reserves

 

Called up share capital

7

10

10

Retained Earnings

82,413

40,472

Shareholders' funds

 

82,423

40,482

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 20 September 2024
 

 

AE Technical Production Limited

(Registration number: 12389031)
Balance Sheet as at 31 December 2023 (continued)

.........................................
Mr SL Jones
Director

 

AE Technical Production Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
32 Pinchbeck Road
Spalding
Lincolnshire
PE11 1QD
United Kingdom

These financial statements were authorised for issue by the director on 20 September 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

AE Technical Production Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

2

Accounting policies (continued)

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible Assets

Tangible Assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Computer equipment

33% Straight line

Plant and machinery

25% Straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade Debtors

Trade Debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade Debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade Creditors

Trade Creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade Creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

 

AE Technical Production Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

2

Accounting policies (continued)

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

 

AE Technical Production Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

4

Tangible Assets

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 January 2023

12,637

28,130

40,767

Additions

870

74,245

75,115

Disposals

(3,125)

(4,875)

(8,000)

At 31 December 2023

10,382

97,500

107,882

Depreciation

At 1 January 2023

3,739

3,562

7,301

Charge for the year

3,292

14,862

18,154

Eliminated on disposal

(945)

(753)

(1,698)

At 31 December 2023

6,086

17,671

23,757

Carrying amount

At 31 December 2023

4,296

79,829

84,125

At 31 December 2022

8,898

24,568

33,466

5

Debtors

Current

2023
£

2022
£

Trade Debtors

1,636

8,473

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade Creditors

2,329

3,677

Taxation and social security

6,481

8,427

Accruals and deferred income

830

783

Other creditors

(29)

6,325

9,611

19,212

 

AE Technical Production Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

6

Creditors (continued)

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

22,813

4,608

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

10

10

10

10

         

8

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Hire purchase contracts

22,813

4,608

9

Related party transactions

 

AE Technical Production Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

9

Related party transactions (continued)

Director's remuneration

The director's remuneration for the year was as follows:

2023
£

2022
£

Remuneration

2,275

-

Contributions paid to money purchase schemes

3,240

3,240

5,515

3,240