Company registration number 04315886 (England and Wales)
ADVANCED AUTOMATION SOLUTIONS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
ADVANCED AUTOMATION SOLUTIONS LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
ADVANCED AUTOMATION SOLUTIONS LTD
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
647,479
648,520
Current assets
Debtors
4
1,964
2,972
Cash at bank and in hand
58,018
85,137
59,982
88,109
Creditors: amounts falling due within one year
5
(20,477)
(25,690)
Net current assets
39,505
62,419
Total assets less current liabilities
686,984
710,939
Provisions for liabilities
(84)
(84)
Net assets
686,900
710,855
Capital and reserves
Called up share capital
100
100
Revaluation reserve
6
101,675
101,675
Profit and loss reserves
585,125
609,080
Total equity
686,900
710,855

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and signed by the director and authorised for issue on 6 September 2024
..............................................
Mr Peter Mitchell
Director
Company registration number 04315886 (England and Wales)
ADVANCED AUTOMATION SOLUTIONS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -
1
Accounting policies
Company information

Advanced Automation Solutions Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 3 Roebuck Way, Knowlhill, MILTON KEYNES, Bucks, MK5 8HL.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
No depreciation
Computers
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Taxation
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

ADVANCED AUTOMATION SOLUTIONS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
2
2
3
Tangible fixed assets
Freehold land and buildings
Computers
Total
£
£
£
Cost or valuation
At 1 April 2023 and 31 March 2024
647,000
4,165
651,165
Depreciation and impairment
At 1 April 2023
-
0
2,645
2,645
Depreciation charged in the year
-
0
1,041
1,041
At 31 March 2024
-
0
3,686
3,686
Carrying amount
At 31 March 2024
647,000
479
647,479
At 31 March 2023
647,000
1,520
648,520

Land and buildings with a carrying amount of £647,000 were revalued at 31st March 2024 by independent valuers not connected with the company on the basis of market value. The valuation conforms to International Valuation Standards and was based on recent market transactions on arm's length terms for similar properties.

The following assets are carried at valuation. If the assets were measured using the cost model, the carrying amounts would be as follows:

Freehold property
Other plant and equipment
2024
2023
2024
2023
£
£
£
£
Cost
521,475
521,475
4,165
4,165
Accumulated depreciation
-
-
(3,686)
(2,645)
Carrying value
521,475
521,475
479
1,520
ADVANCED AUTOMATION SOLUTIONS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
-
0
720
Other debtors
1,964
2,252
1,964
2,972
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
4,175
180
Corporation tax
2,170
14,359
Other taxation and social security
603
2,764
Other creditors
13,529
8,387
20,477
25,690
6
Revaluation reserve
2024
2023
£
£
At the beginning and end of the year
101,675
101,675
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