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REGISTERED NUMBER: 13297212 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

ASV EOE Limited

ASV EOE Limited (Registered number: 13297212)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ASV EOE Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: L J Dalgarno
A D Johnson





REGISTERED OFFICE: Vision Centre
Eastern Way
Bury St. Edmunds
Suffolk
IP32 7AB





REGISTERED NUMBER: 13297212 (England and Wales)






ASV EOE Limited (Registered number: 13297212)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 14,500 16,500
Tangible assets 5 426,090 545,391
440,590 561,891

CURRENT ASSETS
Stocks 6 42,724 53,907
Debtors 7 738,140 483,289
Cash at bank 16,516 10,873
797,380 548,069
CREDITORS
Amounts falling due within one year 8 1,461,385 1,247,708
NET CURRENT LIABILITIES (664,005 ) (699,639 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(223,415

)

(137,748

)

PROVISIONS FOR LIABILITIES 49,370 66,649
NET LIABILITIES (272,785 ) (204,397 )

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings (272,885 ) (204,497 )
SHAREHOLDERS' FUNDS (272,785 ) (204,397 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

ASV EOE Limited (Registered number: 13297212)

Balance Sheet - continued
31 March 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 September 2024 and were signed on its behalf by:




L J Dalgarno - Director



A D Johnson - Director


ASV EOE Limited (Registered number: 13297212)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

ASV EOE Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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" and the companies Act 2006.
The financial statements have been prepared under historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2021, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance

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

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

ASV EOE Limited (Registered number: 13297212)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The company 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 company's balance sheet when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with 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 amortized 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 amortized.

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 company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, loans from fellow group companies 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 amortized.

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 amortized cost using the effective interest method.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current 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.


ASV EOE Limited (Registered number: 13297212)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued
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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.

Going concern
The financial statements have been prepared on a going concern basis even though at the balance sheet date the company's net liabilities exceeded its net assets by £272,785 (2023 : £360,445). The director considers the going concern basis to be appropriate because in his opinion, the company will obtain sufficient funding from its shareholders to enable it to pay its debts as they fall due.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 20,000
AMORTISATION
At 1 April 2023 3,500
Amortisation for year 2,000
At 31 March 2024 5,500
NET BOOK VALUE
At 31 March 2024 14,500
At 31 March 2023 16,500

ASV EOE Limited (Registered number: 13297212)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. TANGIBLE FIXED ASSETS
Fixtures
Short and
leasehold fittings Totals
£    £    £   
COST
At 1 April 2023 44,877 679,989 724,866
Additions - 2,665 2,665
Disposals - (63,325 ) (63,325 )
At 31 March 2024 44,877 619,329 664,206
DEPRECIATION
At 1 April 2023 12,453 167,022 179,475
Charge for year 4,864 53,777 58,641
At 31 March 2024 17,317 220,799 238,116
NET BOOK VALUE
At 31 March 2024 27,560 398,530 426,090
At 31 March 2023 32,424 512,967 545,391

6. STOCKS
31.3.24 31.3.23
£    £   
Stocks 42,724 53,907

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors - 31,378
Amounts owed by group undertakings 667,766 235,956
Other debtors 51,092 -
Prepayments and accrued income 19,282 215,955
738,140 483,289

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 37,772 52,963
Amounts owed to group undertakings 1,329,215 951,689
VAT 69,357 43,607
Other creditors - 186,845
Directors' current accounts 5,329 5,329
Accrued expenses 19,712 7,275
1,461,385 1,247,708

ASV EOE Limited (Registered number: 13297212)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

9. LEASING AGREEMENTS
At the reporting end date the company had a total outstanding commitments for future minimum lease payments under non-cancellable operating leases of £214,450 (2023 : £98,927).

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
100 Ordinary 1 100 100

11. ULTIMATE CONTROLLING PARTY

The company's parent company is LAL Group Holdings Limited, a company registered in England and Wales and it's registered office address is Vision Centre, Eastern Way, Bury St. Edmunds, Suffolk, United Kingdom, IP32 7AB.