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REGISTERED NUMBER: 04629289 (England and Wales)













Unaudited Financial Statements

for the Year Ended 30 November 2023

for

A E L Systems Ltd

A E L Systems Ltd (Registered number: 04629289)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


A E L Systems Ltd

Company Information
for the Year Ended 30 November 2023







DIRECTORS: L T Willis
I M Vipond





SECRETARY: L T Willis





REGISTERED OFFICE: Innovation House
Leaside
Aycliffe Business Park
NEWTON AYCLIFFE
County Durham
DL5 6DE





REGISTERED NUMBER: 04629289 (England and Wales)





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

A E L Systems Ltd (Registered number: 04629289)

Balance Sheet
30 November 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 484,730 470,522

CURRENT ASSETS
Stocks 5 15,550 50,000
Debtors 6 700,688 536,793
Investments 7 100,000 100,000
Cash at bank 160,176 163,258
976,414 850,051
CREDITORS
Amounts falling due within one year 8 496,051 455,707
NET CURRENT ASSETS 480,363 394,344
TOTAL ASSETS LESS CURRENT
LIABILITIES

965,093

864,866

CREDITORS
Amounts falling due after more than one
year

9

(49,734

)

(80,649

)

PROVISIONS FOR LIABILITIES 10 (80,528 ) (55,000 )
NET ASSETS 834,831 729,217

CAPITAL AND RESERVES
Called up share capital 1,002 1,002
Retained earnings 833,829 728,215
834,831 729,217

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

A E L Systems Ltd (Registered number: 04629289)

Balance Sheet - continued
30 November 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 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 5 September 2024 and were signed on its behalf by:





L T Willis - Director


A E L Systems Ltd (Registered number: 04629289)

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

1. STATUTORY INFORMATION

A E L Systems Ltd 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.

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.
Freehold property - 2% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 15% 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
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.

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.

A E L Systems Ltd (Registered number: 04629289)

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

2. ACCOUNTING POLICIES - continued

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 18 (2022 - 19 ) .

4. TANGIBLE FIXED ASSETS
Freehold Motor Computer
property vehicles equipment Totals
£    £    £    £   
COST
At 1 December 2022 162,701 384,866 102,425 649,992
Additions 8,967 186,378 1,142 196,487
Disposals - (151,574 ) - (151,574 )
At 30 November 2023 171,668 419,670 103,567 694,905
DEPRECIATION
At 1 December 2022 22,124 89,516 67,830 179,470
Charge for year 3,342 84,667 6,712 94,721
Eliminated on disposal - (64,016 ) - (64,016 )
At 30 November 2023 25,466 110,167 74,542 210,175
NET BOOK VALUE
At 30 November 2023 146,202 309,503 29,025 484,730
At 30 November 2022 140,577 295,350 34,595 470,522

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:
Motor
vehicles
£   
COST
At 1 December 2022 66,243
Additions 103,465
At 30 November 2023 169,708
DEPRECIATION
At 1 December 2022 21,243
Charge for year 27,778
At 30 November 2023 49,021
NET BOOK VALUE
At 30 November 2023 120,687
At 30 November 2022 45,000

A E L Systems Ltd (Registered number: 04629289)

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

5. STOCKS
2023 2022
£    £   
Stocks 15,550 50,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 600,375 429,089
Amounts owed by group undertakings 85,604 85,604
Directors' current accounts 828 -
Prepayments and accrued income 13,881 22,100
700,688 536,793

7. CURRENT ASSET INVESTMENTS
2023 2022
£    £   
Shares in group undertakings 100,000 100,000

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts - 14,167
Other loans 30,289 10,945
Trade creditors 159,919 250,123
Taxation and social security 142,775 60,814
Other creditors 37,839 16,171
Accruals and deferred income 125,229 103,487
496,051 455,707

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years - 68,976
Other loans - 1-2 years 21,609 11,673
Other loans - 2-5 years 28,125 -
49,734 80,649

10. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 80,528 55,000

A E L Systems Ltd (Registered number: 04629289)

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

10. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 December 2022 55,000
Accelerated capital allowances 23,901
Underprovision 1,627
Balance at 30 November 2023 80,528