Company registration number 08576478 (England and Wales)
AIS GROUP COMPANIES LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023
AIS GROUP COMPANIES LIMITED
COMPANY INFORMATION
Director
G Graville
Secretary
P Ng
Company number
08576478
Registered office
Ground Floor
St Paul's House
10 Warwick Lane
London
EC4M 7BP
Auditor
UHY Hacker Young (East) Limited
Suite 501
The Nexus Building
Broadway
Letchworth Garden City
Herts
SG6 9BL
Business address
Ground Floor
St Paul's House
10 Warwick Lane
London
EC4M 7BP
AIS GROUP COMPANIES LIMITED
CONTENTS
Page
Strategic report
1 - 3
Director's report
4 - 6
Director's responsibilities statement
7
Independent auditor's report
8 - 10
Profit and loss account
11
Group statement of comprehensive income
12
Group balance sheet
13
Company balance sheet
15
Group statement of changes in equity
14
Company statement of changes in equity
16
Group statement of cash flows
17
Company statement of cash flows
18
Notes to the financial statements
19 - 33
AIS GROUP COMPANIES LIMITED
STRATEGIC REPORT
FOR THE PERIOD ENDED 31 DECEMBER 2023
- 1 -

The director presents the strategic report for the Period ended 31 December 2023.

Fair review of the business

The group's principal activity continued to be workplace design and refurbishment of commercial premises, including retailing office furniture.

The Group consists of six continuing trading companies, Advanced lnterior Solutions Limited, Advanced lnterior Solutions (Projects) Limited, AIS Contracts Limited, AIS Life Sciences Limited, Advanced Interior Solutions International B.V. (The Netherlands) and AIS Interiors Malta Limited (Malta).

The Group has gone through a difficult trading period, which has resulted in Group operating profit of £0.5m compared to £2.29m operating profit in the previous period. One of our subsidiaries, AIS Contracts Limited has underperformed, with one particular project providing the shortfall of part of the Group’s overall results and has also been compounded by a highly competitive market which we expect to continue for the foreseeable future. The resultant of this event has caused the re-evaluation of all processes and procedures within this company including restructuring of the Group. We now have in place a new management team within AIS Contracts Limited. Our high standards require us to make the necessary changes ensuring our commitment to our clients as well as to our staff.

The Group's results for the financial period were as follows:

This period sales were up to £57.6m (March 2023: £51.6m & July 2022: £51.6m) and profit before tax was £0.55m (March 2023: £2.32m & July 2022: £2.56m). The overall results were affected as discussed above.

Despite the above, successful introduction of measures including working capital preservation, KPI’s monitoring as well as operating cash generation have maintained our efficiency and strength of available cash position of £16.1m (March 2023 £16.0m & July 2022: £16.9m) – particularly for the group in the industry.

Our continuing success and excellent reputation gained in the market has allowed us to retain and attract the best personnel in the market. Our staff numbers have stayed relatively level. We are grateful for the continuing support of the staff.

RIDDOR Reportable Incidents

For the period to December 2023 - Employee nil (March 2023: nil, July 2022: nil) and Subcontractor nil (March 2023: nil, July 2022: nil)

We are very pleased of our successful record over the past six years. This reflects our continuous investment in protocols and processes in both our client's workplace environments, as well as our own work premises.

Principal risks and uncertainties

The Group operates in a sector that is directly impacted by wider economy activity. The success depends predominantly on commercial property development in the UK and throughout Europe. Any slowdown in the economy will have an impact. The group look to mitigate this risk by increasing its customer base and widening the categories it offers so that any exposure to a specific client or sector difficulties is reduced.

The discontinuation of the membership of the EU have affected large areas of the UK economy. However, the risk of impact on our work in Europe is mitigated by the incorporation of our Dutch and Maltese entities; our ability to serve our European client continues to be readily available and growing steadily.

The Group maintains sufficient cash reserves to support itself and the welfare of the employees and for any projects in any event.

Health and Safety

The Group is exposed to health and safety risks. As such, a comprehensive approach to mitigating those risks is carried out on a continuous basis, in-house as well as obtaining expert external consultancy advice.

AIS GROUP COMPANIES LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2023
- 2 -
Director's statement of compliance with duty to promote success of the Group

Section 172 (1) of the Companies Act 2006 requires each director to act in the way that he or she considers, in good faith, would be most likely to promote the success of the Group for the benefit of its members as a whole. in doing this, section 172 requires each director to have regard to the matters listed below. In discharging his duties in this respect, the director has the support of a senior management team:

 

a) The likely consequence of any decision in the long term.

Our planning is designed to have a long-term beneficial impact on the Group and contribute to its future success through improving quality operating within budgetary controls. This requires us to consider the long term in all of our strategic decisions at board level.

 

b) The interests of the Groups employees

Our employees are fundamental to the success of the Group. We aim to be a responsible employer in our approach to the pay and benefits our employees receive. The health, safety and well-being of our employees is one of the primary considerations in how we operate. In this regard we have ISO 45001 - Occupational Health & Safety Management certification.

 

c) The need to foster the Group's business relationships with suppliers, customers, and others

We aim to act responsibly and fairly in how we engage with suppliers. The board has oversight of the procurement processes and receives regular updates on any matter of significance. The Group is very much focused on our customers, and the director and senior management team commit considerable time, effort and resources into understanding and responding to the needs of our customers. We also seek to build strong relationships with other stakeholders in the areas where we operate.

 

d) The impact of the Groups' operations on the community and environment

The director understands the impact of our operations on the communities we operate in. the positive impact we can have on the environment (we have ISO 14001 - Environmental Management certification in this respect) and attribute importance to behaving as a responsible business.

 

e) The desirability of the Group maintaining a reputation for high standards of business conduct

The director’s intention is to behave responsibly and ensure that management operates in a responsible manner, operating within the high standards of conduct and good governance required for a business in our sector. All of our people are expected to act within the regulatory framework dictated by our sector. Our reputation is important, and the reputational impact of decisions made by the director and senior management team are always considered.

 

f) The need to act fairly between members of the Group

As Board of Directors, the intention is to behave responsibly toward our shareholders and treat them fairly and equally, so they too may benefit from the Group's success.

Key performance indicators

Financial KPIs                    Dec 2023     Mar 2023

Turnover                £57.6m £51.6m

Operating profit             £0.47m     £2.29m

Equity shareholders fund             £16.02m     £15.59m

 

AIS GROUP COMPANIES LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2023
- 3 -
Non-Financial KPIs

The company operates a wide range of non-financial KPl's across its business units in line with its ISO 9001 (2015) quality assurance accreditation. Every project undertaken by the company is monitored and measured by a series of KPl's at various key stages throughout the lifecycle of the project. The company is particularly conscious of its corporate and social responsibilities in terms of health and safety and environmental compliance. In addition, the company conducts its affairs in accordance with its ISO 14001 and BS OHSAS 18001 accreditations.

 

Finally, the Board of Directors would like to thank all members of the group for the loyalty, hard-work and dedication during the financial period.

On behalf of the board

G Graville
Director
20 September 2024
AIS GROUP COMPANIES LIMITED
DIRECTOR'S REPORT
FOR THE PERIOD ENDED 31 DECEMBER 2023
- 4 -

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

Principal activities

The group's principal activity continued to be workplace design and refurbishment of commercial premises, including retailing office furniture.

Results and dividends

The results for the Period are set out on page 11 and cover the period from 1 April 2023 to 31 December 2023.

No ordinary dividends were paid. The director does not recommend payment of a further dividend.

Director

The director who held office during the Period and up to the date of signature of the financial statements was as follows:

G Graville
Financial instruments
Liquidity risk

The group manages its cash and borrowing requirements in order to maximise interest income and minimise interest expense, whilst ensuring the group has sufficient liquid resources to meet the operating needs of the business.

Foreign currency risk

The group’s principal foreign currency exposures arise from trading with overseas companies. Group policy permits but does not demand that these exposures may be hedged in order to fix the cost in sterling. This hedging activity involves the use of foreign exchange forward contracts.

Credit risk

Investments of cash surpluses, borrowings and derivative instruments are made through banks and companies which must fulfil credit rating criteria approved by the Board.

 

All customers who wish to trade on credit terms are subject to credit verification procedures. Trade debtors are monitored on an ongoing basis and provision is made for doubtful debts where necessary.

Future developments, Covid-19 and BREXIT

Details of future developments can be found in the Strategic Report on page 1 - Principal risks and uncertainties.

Auditor

UHY Hacker Young (East) Limited were appointed as auditor to the group and in accordance with section 485 of the Companies Act 2006, a resolution proposing that they be re-appointed will be put at the AGM.

Energy and carbon report

Under the Companies (Directors' report) and Limited Liability Partnerships (Energy and Carbon Report) Regulations 2018, we are required to disclose our UK energy use and associated greenhouse gas (GHG) emissions. Specifically, we are require to report these GHG emissions relating to natural gas, electricity and transport fuel, as well as an intensification ratio under the regulations.

 

The Streamlined Energy and Carbon Reporting included in this report covers the period ended 31 December 2023.

AIS GROUP COMPANIES LIMITED
DIRECTOR'S REPORT (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2023
- 5 -
Results - 2023
Energy consumption
kWh
kWh
Aggregate of energy consumption in the year
- Gas combustion
64,062
- Fuel consumed for transport
507,979
572,041
Emissions of CO2 equivalent
Metric tonnes
Metric tonnes
Scope 1 - direct emissions
- Gas combustion
12.81
- Fuel consumed for owned transport
-
12.81
Scope 2 - indirect emissions
- Electricity purchased
98.23
Scope 3 - other indirect emissions
- Fuel consumed for transport not owned by the company
336.36
Total gross emissions
447.40
Intensity ratio
Intensity ratios as below
4.61
Quantification and reporting methodology

The group has followed the 2019 HM Government Environmental Reporting Guidelines. The group has also used the GHG Reporting Protocol – Corporate Standard and have used the 2021 UK Government’s Conversion Factors for Company Reporting

Intensity measurement

Two intensity ratios have been chosen based on the office's internal area in square meters and per £100,000 revenue, these being tCO2/m2/year and tCO2e/£100,000 revenue. Both ratios produced a similar result.

Measures taken to improve energy efficiency

The group is committed to lowering our energy usage and focus on energy efficiency wherever it is feasible to do so.

 

We recognise that climate change is a threat that affects us all, and that we have a role to play in lowering the greenhouse gas emissions in our operations and within our community.

 

We are committed, with a dedicated Compliance and Sustaintability manager, to work towards a carbon zero position over the coming years, in line with our commitment to be a socially conscious business.

Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the auditor of the company is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the auditor of the company is aware of that information.

AIS GROUP COMPANIES LIMITED
DIRECTOR'S REPORT (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2023
- 6 -
On behalf of the board
G Graville
Director
20 September 2024
AIS GROUP COMPANIES LIMITED
DIRECTOR'S RESPONSIBILITIES STATEMENT
FOR THE PERIOD ENDED 31 DECEMBER 2023
- 7 -

The director is responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.

 

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the group and company, and of the profit or loss of the group for that period. In preparing these financial statements, the director is required to:

 

 

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the group’s and company’s transactions and disclose with reasonable accuracy at any time the financial position of the group and company and enable them to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the group and company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

AIS GROUP COMPANIES LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF AIS GROUP COMPANIES LIMITED
- 8 -
Opinion

We have audited the financial statements of AIS Group Companies Limited (the 'parent company') and its subsidiaries (the 'group') for the Period ended 31 December 2023 which comprise the group profit and loss account, the group statement of comprehensive income, the group balance sheet, the company balance sheet, the group statement of changes in equity, the company statement of changes in equity, the group statement of cash flows, the company statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

 

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and parent company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

 

Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The director is responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

 

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

AIS GROUP COMPANIES LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF AIS GROUP COMPANIES LIMITED
- 9 -
Matters on which we are required to report by exception

In the light of the knowledge and understanding of the group and the parent company and their environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the director's report.

 

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of director

As explained more fully in the director's responsibilities statement, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the director is responsible for assessing the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the parent company or to cease operations, or has no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud.

 

Based on our understanding of the company and the industry in which it operates, we identified that the principal risks of non-compliance with laws and regulations related to the acts by the company, which were contrary to applicable laws and regulations including fraud, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006.

 

We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls) and determined that the principal risks were related to posting manual journal entries to manipulate financial performance, management bias through judgements and assumptions in significant accounting estimates, in particular in relation to construction contracts, and significant one-off or unusual transactions.

Our audit procedures were designed to respond to those identified risks, including non-compliance with laws and regulations (irregularities) and fraud that are material to the financial statements. Our audit procedures included but were not limited to:

AIS GROUP COMPANIES LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF AIS GROUP COMPANIES LIMITED
- 10 -

Our audit procedures in relation to fraud included but were not limited to:

 

There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

James Price FCA (Senior Statutory Auditor)
For and on behalf of UHY Hacker Young (East) Limited
23 September 2024
Chartered Accountants
Statutory Auditor
Suite 501
The Nexus Building
Broadway
Letchworth Garden City
Herts
SG6 9BL
AIS GROUP COMPANIES LIMITED
GROUP PROFIT AND LOSS ACCOUNT
FOR THE PERIOD ENDED 31 DECEMBER 2023
- 11 -
Period
Period
ended
ended
31 December
31 March
2023
2023
Notes
£
£
Turnover
3
57,562,957
51,554,855
Cost of sales
(45,718,035)
(40,187,066)
Gross profit
11,844,922
11,367,789
Administrative expenses
(11,374,152)
(9,208,379)
Other operating income
-
130,591
Operating profit
4
470,770
2,290,001
Interest receivable and similar income
8
80,636
28,672
Profit before taxation
551,406
2,318,673
Tax on profit
9
(126,401)
(501,508)
Profit for the financial Period
425,005
1,817,165
Profit for the financial Period is all attributable to the owners of the parent company.
AIS GROUP COMPANIES LIMITED
GROUP STATEMENT OF COMPREHENSIVE INCOME
FOR THE PERIOD ENDED 31 DECEMBER 2023
- 12 -
Period
period
ended
ended
31 December
31 March
2023
2023
£
£
Profit for the Period
425,005
1,817,165
Other comprehensive income
Currency translation gain taken to retained earnings
-
0
57,425
Total comprehensive income for the Period
425,005
1,874,590
Total comprehensive income for the Period is all attributable to the owners of the parent company.
AIS GROUP COMPANIES LIMITED
GROUP BALANCE SHEET
AS AT 31 DECEMBER 2023
31 December 2023
- 13 -
2023
2023
Notes
£
£
£
£
Fixed assets
Goodwill
10
-
0
5,920
Tangible assets
11
370,096
429,430
370,096
435,350
Current assets
Debtors
14
12,750,619
18,356,730
Cash at bank and in hand
16,146,583
16,031,521
28,897,202
34,388,251
Creditors: amounts falling due within one year
15
(13,171,201)
(19,136,859)
Net current assets
15,726,001
15,251,392
Total assets less current liabilities
16,096,097
15,686,742
Provisions for liabilities
Deferred tax liability
16
74,218
89,868
(74,218)
(89,868)
Net assets
16,021,879
15,596,874
Capital and reserves
Called up share capital
18
1,350
1,350
Profit and loss reserves
16,020,529
15,595,524
Total equity
16,021,879
15,596,874
The financial statements were approved and signed by the director and authorised for issue on 20 September 2024
20 September 2024
G Graville
Director
AIS GROUP COMPANIES LIMITED
GROUP STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 31 DECEMBER 2023
- 14 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 August 2022
1,000
13,720,934
13,721,934
Period ended 31 March 2023:
Profit for the period
-
1,817,165
1,817,165
Other comprehensive income:
Currency translation differences
-
57,425
57,425
Total comprehensive income
-
1,874,590
1,874,590
Issue of share capital
18
350
-
350
Balance at 31 March 2023
1,350
15,595,524
15,596,874
Period ended 31 December 2023:
Profit and total comprehensive income
-
425,005
425,005
Balance at 31 December 2023
1,350
16,020,529
16,021,879
AIS GROUP COMPANIES LIMITED
COMPANY BALANCE SHEET
AS AT 31 DECEMBER 2023
31 December 2023
- 15 -
2023
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
11
81,661
88,769
Investments
12
378,892
378,892
460,553
467,661
Current assets
Debtors
14
2,102,397
1,407,964
Cash at bank and in hand
6,240,367
7,452,985
8,342,764
8,860,949
Creditors: amounts falling due within one year
15
(9,028,551)
(9,324,181)
Net current liabilities
(685,787)
(463,232)
Total assets less current liabilities
(225,234)
4,429
Provisions for liabilities
Deferred tax liability
16
20,415
22,192
(20,415)
(22,192)
Net liabilities
(245,649)
(17,763)
Capital and reserves
Called up share capital
18
1,350
1,350
Profit and loss reserves
(246,999)
(19,113)
Total equity
(245,649)
(17,763)

As permitted by s408 Companies Act 2006, the company has not presented its own profit and loss account and related notes. The company’s loss for the period was £227,886 (2023 - £84,415 loss).

The financial statements were approved and signed by the director and authorised for issue on 20 September 2024
20 September 2024
G Graville
Director
Company Registration No. 08576478
AIS GROUP COMPANIES LIMITED
COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 31 DECEMBER 2023
- 16 -
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 August 2022
1,000
65,302
66,302
Period ended 31 March 2023:
Loss and total comprehensive income for the period
-
(84,415)
(84,415)
Issue of share capital
18
350
-
350
Balance at 31 March 2023
1,350
(19,113)
(17,763)
Period ended 31 December 2023:
Profit and total comprehensive income
-
(227,886)
(227,886)
Balance at 31 December 2023
1,350
(246,999)
(245,649)
AIS GROUP COMPANIES LIMITED
GROUP STATEMENT OF CASH FLOWS
FOR THE PERIOD ENDED 31 DECEMBER 2023
- 17 -
2023
2023
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from/(absorbed by) operations
23
893,345
(1,443,804)
Income taxes (paid)/refunded
(349,618)
535,920
Net cash inflow/(outflow) from operating activities
543,727
(907,884)
Investing activities
Purchase of tangible fixed assets
(25,232)
(335,239)
Proceeds on disposal of tangible fixed assets
1,167
-
Loans principal balance movement
(485,236)
249,644
Interest received
80,636
28,672
Net cash used in investing activities
(428,665)
(56,923)
Financing activities
Proceeds from issue of shares
-
350
Net cash (used in)/generated from financing activities
-
350
Net increase/(decrease) in cash and cash equivalents
115,062
(964,457)
Cash and cash equivalents at beginning of Period
16,031,521
16,938,553
Effect of foreign exchange rates
-
57,425
Cash and cash equivalents at end of Period
16,146,583
16,031,521
AIS GROUP COMPANIES LIMITED
COMPANY STATEMENT OF CASH FLOWS
FOR THE PERIOD ENDED 31 DECEMBER 2023
- 18 -
2023
2023
Notes
£
£
£
£
Cash flows from operating activities
Cash absorbed by operations
24
(784,553)
(307,720)
Income taxes paid
-
(4,418)
Net cash outflow from operating activities
(784,553)
(312,138)
Investing activities
Purchase of tangible fixed assets
(19,643)
(39,386)
Proceeds on disposal of tangible fixed assets
1,167
-
0
Loans principal balance movement
(490,168)
289,644
Interest received
80,579
24,594
Net cash (used in)/generated from investing activities
(428,065)
274,852
Financing activities
Proceeds from issue of shares
-
350
Net cash (used in)/generated from financing activities
-
350
Net decrease in cash and cash equivalents
(1,212,618)
(36,936)
Cash and cash equivalents at beginning of Period
7,452,985
7,489,921
Cash and cash equivalents at end of Period
6,240,367
7,452,985
AIS GROUP COMPANIES LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023
- 19 -
1
Accounting policies
Company information

AIS Group Companies Limited (“the company”) is a private limited company domiciled and incorporated in England and Wales. The registered office is Ground Floor, St Paul's House, 10 Warwick Lane, London, EC4M 7BP.

 

The group consists of AIS Group Companies Limited and all of its subsidiaries.

1.1
Reporting period

These financial statements are presented for a period of 9 months from April 2023 to December 2023.

1.2
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.

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 £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.3
Business combinations

In the parent company financial statements, the cost of a business combination is the fair value at the acquisition date of the assets given, equity instruments issued and liabilities incurred or assumed, plus costs directly attributable to the business combination. The excess of the cost of a business combination over the fair value of the identifiable assets, liabilities and contingent liabilities acquired is recognised as goodwill. The cost of the combination includes the estimated amount of contingent consideration that is probable and can be measured reliably, and is adjusted for changes in contingent consideration after the acquisition date. Provisional fair values recognised for business combinations in previous periods are adjusted retrospectively for final fair values determined in the 12 months following the acquisition date. Investments in subsidiaries, joint ventures and associates are accounted for at cost less impairment.

1.4
Basis of consolidation

All financial statements are made up to 31 December 2023. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with those used by other members of the group.

 

All intra-group transactions, balances and unrealised gains on transactions between group companies are eliminated on consolidation. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred.

 

Where a subsidiary's results are not material to the group, the subsidiaries are excluded from the consolidation.

1.5
Going concern

The directors have assessed that the group is able to continue to operate as a going concern for at least 12 months from the balance sheet date. There are no material uncertainties that may cast significant doubt on the ability of the group to continue to operate as a going concern.

 

The group has always been financially independent and operated within its liquidity position. However, the board had discussed with our banking partners of over 25 years, for any lending to be made available in any event.

AIS GROUP COMPANIES LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 20 -
1.6
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.

The group’s activities involve contractual arrangements that are significant in size and span the group’s period end. In order to determine the stage of completeness, the directors make an assessment of time spent on contracts as at the period end relative to the overall time expected to be spent on the contracts. This assumes a linear progression in respect of revenue and costs through the course of contracts which the director considers to be a reasonable policy in the context of the nature of its work. Using the stage of completeness assessments, the requisite adjustments are made to revenue, costs, debtors and creditors so that an appropriate measure of profit is recognised in these financial statements.

 

The excess of apportioned sales revenue (calculated on the stage of completion basis) over amounts already invoiced is recognised as a debtor. The excess of apportioned total costs over amounts already invoiced is recognised separately as a creditor.

 

Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recoverable.

 

In the parent company accounts, revenue is recognised on the recharge of central services to subsidiaries. The recharge is made as an arms-length transaction and apportioned to the subsidiary companies on the basis of activity in each, taken as their share of group turnover.

Interest income is recognised when it is probable that the economic benefits will flow to the company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding and the effective interest rate applicable.

1.7
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of a business over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.

 

Goodwill is tested for impairment at least annually, or more frequently when there is an indication of impairment. If the recoverable amount is less than the carrying amount, an impairment loss is recognised through the profit and loss account.

1.8
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:

Leasehold improvements
6 years straight line
Fixtures, fittings & equipment
25% - 33% 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 recognised in the profit and loss account.

AIS GROUP COMPANIES LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 21 -
1.9
Fixed asset investments

Equity investments are measured at fair value through profit or loss, except for those equity investments that are not publicly traded and whose fair value cannot otherwise be measured reliably, which are recognised at cost less impairment until a reliable measure of fair value becomes available.

 

In the parent company financial statements, investments in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.

A subsidiary is an entity controlled by the group. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.10
Impairment of fixed assets

At each reporting period end date, the group reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.11
Cash and cash equivalents

Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.12
Financial instruments

The group has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the group's balance sheet when the group becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

AIS GROUP COMPANIES LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 22 -
Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

 

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

 

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the group transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the group after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the group's contractual obligations expire or are discharged or cancelled.

1.13
Equity instruments

Equity instruments issued by the group are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the group.

1.14
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

AIS GROUP COMPANIES LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 23 -
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 group’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset if, and only if, there is a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.15
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employees' services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.16
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.17
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leased asset are consumed.

1.18
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

AIS GROUP COMPANIES LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2023
- 24 -
2
Judgements and key sources of estimation uncertainty

In the application of the group’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Key sources of estimation uncertainty

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows:

Amounts recoverable on contracts and payments on account

In order to comply with the accounting standards in relation to contracts for services, the director must estimate the total contract value, cost and stage of completion for each contract in progress at the reporting date. The stage of completion is based around the number of weeks complete at the reporting date, and this makes the assumption that costs and revenues accrue evenly over the course of the contract.

3
Turnover and other revenue
2023
2023
£
£
Turnover analysed by class of business
Design and build services
57,562,957
51,554,855
2023
2023
£
£
Other revenue
Interest income
80,636
28,672

The director considers that the disclosure of a geographical split of revenue will be seriously prejudicial to the interests of the group and have therefore decided to avail themselves of the disclosure exemption in this regard.

4
Operating profit
2023
2023
£
£
Operating profit for the period is stated after charging/(crediting):
Exchange gains
(29,305)
(28,336)
Depreciation of owned tangible fixed assets
83,399
61,215
Amortisation of intangible assets
5,920
35,533
Operating lease charges
277,792
287,236
AIS GROUP COMPANIES LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2023
- 25 -
5
Auditor's remuneration
2023
2023
Fees payable to the company's auditor and associates:
£
£
For audit services
Audit of the financial statements of the group and company
22,550
10,000
Audit of the financial statements of the company's subsidiaries
40,000
40,000
62,550
50,000
For other services
Taxation compliance services
-
350
Other taxation services
-
830
All other non-audit services
1,400
2,094
1,400
3,274
6
Employees

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

Group
Company
2023
2023
2023
2023
Number
Number
Number
Number
Directors and senior management
32
81
7
9
Sales staff
15
6
-
-
Administrative staff
49
6
6
2
Total
96
93
13
11

Their aggregate remuneration comprised:

Group
Company
2023
2023
2023
2023
£
£
£
£
Wages and salaries
7,404,852
5,539,954
1,405,949
799,509
Social security costs
991,039
759,239
184,816
103,431
Pension costs
197,824
144,677
35,028
40,302
8,593,715
6,443,870
1,625,793
943,242
7
Directors' remuneration
2023
2023
£
£
Remuneration for qualifying services
1,208,686
1,161,749
AIS GROUP COMPANIES LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2023
7
Directors' remuneration
(Continued)
- 26 -
Remuneration disclosed above includes the following amounts paid to the highest paid director:
2023
2023
£
£
Remuneration for qualifying services
227,033
186,323
8
Interest receivable and similar income
2023
2023
£
£
Interest income
Interest on bank deposits
80,636
28,672
2023
2023
Investment income includes the following:
£
£
Interest on financial assets not measured at fair value through profit or loss
80,636
28,672
9
Taxation
2023
2023
£
£
Current tax
UK corporation tax on profits for the current period
458,236
428,222
Adjustments in respect of prior periods
(48,245)
-
0
Total current tax
409,991
428,222
Deferred tax
Origination and reversal of timing differences
(283,590)
73,286
Total tax charge
126,401
501,508
AIS GROUP COMPANIES LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2023
9
Taxation
(Continued)
- 27 -

The actual charge for the Period can be reconciled to the expected charge for the Period based on the profit or loss and the standard rate of tax as follows:

2023
2023
£
£
Profit before taxation
551,406
2,318,673
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2023: 19.00%)
137,852
440,548
Tax effect of expenses that are not deductible in determining taxable profit
60,638
36,444
Unutilised tax losses carried forward
262,315
-
0
Other non-reversing timing differences
(268,233)
21,312
Amount of deferred tax expense relating to timing difference
(48,245)
-
0
Tax difference arising on consolidation
(17,926)
3,204
Taxation charge
126,401
501,508
10
Intangible fixed assets
Group
Goodwill
£
Cost
At 1 April 2023 and 31 December 2023
355,326
Amortisation and impairment
At 1 April 2023
349,406
Amortisation charged for the Period
5,920
At 31 December 2023
355,326
Carrying amount
At 31 December 2023
-
0
At 31 March 2023
5,920
The company had no intangible fixed assets at 31 December 2023 or 31 March 2023.
AIS GROUP COMPANIES LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2023
- 28 -
11
Tangible fixed assets
Group
Leasehold improvements
Fixtures, fittings & equipment
Total
£
£
£
Cost
At 1 April 2023
121,812
591,102
712,914
Additions
-
0
25,232
25,232
Disposals
-
0
(1,167)
(1,167)
At 31 December 2023
121,812
615,167
736,979
Depreciation and impairment
At 1 April 2023
8,287
275,197
283,484
Depreciation charged in the Period
15,227
68,172
83,399
At 31 December 2023
23,514
343,369
366,883
Carrying amount
At 31 December 2023
98,298
271,798
370,096
At 31 March 2023
113,525
315,905
429,430
Company
Fixtures, fittings & equipment
£
Cost
At 1 April 2023
120,115
Additions
19,643
Disposals
(1,167)
At 31 December 2023
138,591
Depreciation and impairment
At 1 April 2023
31,346
Depreciation charged in the Period
25,584
At 31 December 2023
56,930
Carrying amount
At 31 December 2023
81,661
At 31 March 2023
88,769
AIS GROUP COMPANIES LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2023
- 29 -
12
Fixed asset investments
Group
Company
2023
2023
2023
2023
Notes
£
£
£
£
Investments in subsidiaries
13
-
0
-
0
378,892
378,892
Movements in fixed asset investments
Company
Shares in subsidiaries
£
Cost or valuation
At 1 April 2023 and 31 December 2023
378,892
Carrying amount
At 31 December 2023
378,892
At 31 March 2023
378,892
13
Subsidiaries

Details of the company's subsidiaries at 31 December 2023 are as follows:

Name of undertaking
Registered
Nature of business
Class of
% Held
office
shares held
Direct
Indirect
Advanced Interior Solutions (Projects) Limited
England and Wales
Design and build services
Ordinary
100
-
Advanced Interior Solutions Limited
England and Wales
Design and build services
Ordinary
100
-
AIS Contracts Limted
England and Wales
Design and build services
Ordinary
100
-
Advanced Interior Solutions International BV
Netherlands
Design and build services
Ordinary
100
-
AIS Life Sciences Limited
England and Wales
Design and build services
Ordinary
100
-
Advanced Interiors Malta Limited
Malta
Design and build services
Ordinary
0
100.00
Advanced Interior Solutions Projects Limited
Ireland
Dormant
Ordinary
100
-
AIS GROUP COMPANIES LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2023
- 30 -
14
Debtors
Group
Company
2023
2023
2023
2023
Amounts falling due within one year:
£
£
£
£
Trade debtors
3,650,219
9,468,229
-
0
-
0
Gross amounts owed by contract customers
4,385,366
6,016,511
-
0
-
0
Corporation tax recoverable
90,104
63,038
-
0
-
0
Amounts owed by group undertakings
241,321
35,527
974,852
730,673
Other debtors
1,881,662
970,065
910,718
420,550
Prepayments and accrued income
2,234,007
1,803,360
216,827
256,741
12,482,679
18,356,730
2,102,397
1,407,964
Amounts falling due after more than one year:
Deferred tax asset (note 16)
267,940
-
0
-
0
-
0
Total debtors
12,750,619
18,356,730
2,102,397
1,407,964
15
Creditors: amounts falling due within one year
Group
Company
2023
2023
2023
2023
£
£
£
£
Trade creditors
4,496,843
8,359,898
79,416
185,109
Amounts owed to group undertakings
-
0
-
0
8,700,006
8,915,937
Corporation tax payable
1,062,607
975,168
8,005
8,005
Other taxation and social security
1,958,343
2,586,468
192,444
108,980
Other creditors
209,582
217,385
(8,570)
(8,570)
Accruals and deferred income
5,443,826
6,997,940
57,250
114,720
13,171,201
19,136,859
9,028,551
9,324,181
16
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the group and company, and movements thereon:

Liabilities
Liabilities
Assets
Assets
2023
2023
2023
2023
Group
£
£
£
£
Accelerated capital allowances
74,218
89,868
-
-
Tax losses
-
-
267,940
-
74,218
89,868
267,940
-
AIS GROUP COMPANIES LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2023
16
Deferred taxation
(Continued)
- 31 -
Liabilities
Liabilities
Assets
Assets
2023
2023
2023
2023
Company
£
£
£
£
Accelerated capital allowances
20,415
22,192
-
-
Group
Company
2023
2023
Movements in the Period:
£
£
Liability at 1 April 2023
89,868
22,192
Credit to profit or loss
(283,590)
(1,777)
Liability/(Asset) at 31 December 2023
(193,722)
20,415
17
Retirement benefit schemes
2023
2023
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
197,824
144,677

A defined contribution pension scheme is operated for all qualifying employees. The assets of the scheme are held separately from those of the group in an independently administered fund.

18
Share capital
Group and company
2023
2023
2023
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
1,000
1,000
1,000
1,000
Ordinary A shares of £1 each
350
350
350
350
1,350
1,350
1,350
1,350

During the period the company recorded the issue of 350 ordinary A shares of £1 each, issued at their par value.

AIS GROUP COMPANIES LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2023
- 32 -
19
Operating lease commitments
Lessee

At the reporting end date the group had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

Group
Company
2023
2023
2023
2023
£
£
£
£
Within one year
338,170
311,600
-
-
Between two and five years
1,224,824
259,667
-
-
1,562,994
571,267
-
-
20
Related party transactions
Remuneration of key management personnel

The remuneration of key management personnel is as follows.

2023
2023
£
£
Aggregate compensation
1,499,421
1,129,629

 

21
Controlling party

The group is controlled by G Graville.

22
Directors' transactions

At the year end, the director owed £912,274 (March 23: £420,550) to AIS Group Companies Limited. Interest is charged on the loan at a rate consistent with HMRC guidance on beneficial loans.

AIS GROUP COMPANIES LIMITED
NOTES TO THE GROUP FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2023
- 33 -
23
Cash generated from/(absorbed by) group operations
2023
2023
£
£
Profit for the Period after tax
425,005
1,817,165
Adjustments for:
Taxation charged
126,401
501,508
Investment income
(80,636)
(28,672)
Amortisation and impairment of intangible assets
5,920
35,533
Depreciation and impairment of tangible fixed assets
83,399
61,215
Movements in working capital:
Decrease/(increase) in debtors
6,386,353
(4,399,542)
(Decrease)/increase in creditors
(6,053,097)
568,988
Cash generated from/(absorbed by) operations
893,345
(1,443,804)
24
Cash absorbed by operations - company
2023
2023
£
£
Loss for the Period after tax
(227,886)
(84,415)
Adjustments for:
Taxation (credited)/charged
(1,777)
22,192
Investment income
(80,579)
(24,594)
Depreciation and impairment of tangible fixed assets
25,584
16,000
Movements in working capital:
(Increase)/decrease in debtors
(204,265)
1,128,182
Decrease in creditors
(295,630)
(1,365,085)
Cash absorbed by operations
(784,553)
(307,720)
25
Analysis of changes in net funds - group
1 April 2023
Cash flows
31 December 2023
£
£
£
Cash at bank and in hand
16,031,521
115,062
16,146,583
26
Analysis of changes in net funds - company
1 April 2023
Cash flows
31 December 2023
£
£
£
Cash at bank and in hand
7,452,985
(1,212,618)
6,240,367
2023-12-312023-04-01falseCCH SoftwareCCH Accounts Production 2024.200G GravilleP Ngfalsefalse08576478bus:Consolidated2023-04-012023-12-31085764782023-04-012023-12-3108576478bus:Director12023-04-012023-12-3108576478bus:CompanySecretary12023-04-012023-12-3108576478bus:RegisteredOffice2023-04-012023-12-3108576478bus:Consolidated2023-12-3108576478bus:Consolidated2022-08-012023-03-31085764782022-08-012023-03-3108576478core:RetainedEarningsAccumulatedLossesbus:Consolidated2023-04-012023-12-3108576478core:RetainedEarningsAccumulatedLossesbus:Consolidated2022-08-012023-03-31085764782023-12-3108576478core:Goodwillbus:Consolidated2023-12-3108576478core:Goodwillbus:Consolidated2023-03-3108576478bus:Consolidated2023-03-31085764782023-03-3108576478core:LeaseholdImprovementsbus:Consolidated2023-12-3108576478core:FurnitureFittingsbus:Consolidated2023-12-3108576478core:LeaseholdImprovementsbus:Consolidated2023-03-3108576478core:FurnitureFittingsbus:Consolidated2023-03-3108576478core:FurnitureFittings2023-12-3108576478core:FurnitureFittings2023-03-3108576478core:ShareCapitalbus:Consolidated2023-12-3108576478core:ShareCapitalbus:Consolidated2023-03-3108576478core:ShareCapitalbus:Consolidated2022-07-31085764782022-07-3108576478core:RetainedEarningsAccumulatedLossesbus:Consolidated2023-03-3108576478core:RetainedEarningsAccumulatedLossesbus:Consolidated2023-12-3108576478core:ShareCapital2023-12-3108576478core:ShareCapital2023-03-3108576478core:RetainedEarningsAccumulatedLosses2023-12-3108576478core:ShareCapital2022-07-3108576478core:RetainedEarningsAccumulatedLosses2022-07-3108576478core:RetainedEarningsAccumulatedLosses2023-03-3108576478core:ShareCapitalbus:Consolidated2022-08-012023-03-3108576478core:ShareCapital2022-08-012023-03-3108576478bus:Consolidated2022-07-3108576478core:Goodwill2023-04-012023-12-3108576478core:LeaseholdImprovements2023-04-012023-12-3108576478core:FurnitureFittings2023-04-012023-12-3108576478core:UKTaxbus:Consolidated2023-04-012023-12-3108576478core:UKTaxbus:Consolidated2022-08-012023-03-3108576478bus:Consolidated12023-04-012023-12-3108576478bus:Consolidated12022-08-012023-03-3108576478bus:Consolidated22023-04-012023-12-3108576478bus:Consolidated22022-08-012023-03-3108576478core:Goodwillbus:Consolidated2023-03-3108576478core:Goodwillbus:Consolidated2023-04-012023-12-3108576478core:LeaseholdImprovementsbus:Consolidated2023-03-3108576478core:FurnitureFittingsbus:Consolidated2023-03-3108576478bus:Consolidated2023-03-3108576478core:FurnitureFittings2023-03-3108576478core:LeaseholdImprovementsbus:Consolidated2023-04-012023-12-3108576478core:FurnitureFittingsbus:Consolidated2023-04-012023-12-3108576478core:CurrentFinancialInstrumentsbus:Consolidated2023-12-3108576478core:CurrentFinancialInstrumentsbus:Consolidated2023-03-3108576478core:CurrentFinancialInstruments2023-12-3108576478core:CurrentFinancialInstruments2023-03-3108576478core:Non-currentFinancialInstrumentsbus:Consolidated2023-12-3108576478core:Non-currentFinancialInstrumentsbus:Consolidated2023-03-3108576478core:Non-currentFinancialInstruments2023-12-3108576478core:Non-currentFinancialInstruments2023-03-3108576478core:CurrentFinancialInstrumentscore:WithinOneYearbus:Consolidated2023-12-3108576478core:CurrentFinancialInstrumentscore:WithinOneYearbus:Consolidated2023-03-3108576478core:CurrentFinancialInstrumentscore:WithinOneYear2023-12-3108576478core:CurrentFinancialInstrumentscore:WithinOneYear2023-03-3108576478bus:PrivateLimitedCompanyLtd2023-04-012023-12-3108576478bus:FRS1022023-04-012023-12-3108576478bus:Audited2023-04-012023-12-3108576478bus:ConsolidatedGroupCompanyAccounts2023-04-012023-12-3108576478bus:FullAccounts2023-04-012023-12-31xbrli:purexbrli:sharesiso4217:GBP