A A W Control Systems Limited 03339802 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is the installation, maintenance and servicing of computerised monitoring and control systems. Digita Accounts Production Advanced 6.30.9574.0 true 03339802 2023-04-01 2024-03-31 03339802 2024-03-31 03339802 core:HirePurchaseContracts core:CurrentFinancialInstruments 2024-03-31 03339802 core:CurrentFinancialInstruments 2024-03-31 03339802 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 03339802 core:Non-currentFinancialInstruments 2024-03-31 03339802 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 03339802 core:Goodwill 2024-03-31 03339802 core:MotorVehicles 2024-03-31 03339802 core:PlantMachinery 2024-03-31 03339802 bus:SmallEntities 2023-04-01 2024-03-31 03339802 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 03339802 bus:FilletedAccounts 2023-04-01 2024-03-31 03339802 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 03339802 bus:RegisteredOffice 2023-04-01 2024-03-31 03339802 bus:CompanySecretaryDirector2 2023-04-01 2024-03-31 03339802 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 03339802 core:Goodwill 2023-04-01 2024-03-31 03339802 core:MotorVehicles 2023-04-01 2024-03-31 03339802 core:PlantMachinery 2023-04-01 2024-03-31 03339802 countries:EnglandWales 2023-04-01 2024-03-31 03339802 2023-03-31 03339802 core:Goodwill 2023-03-31 03339802 core:MotorVehicles 2023-03-31 03339802 core:PlantMachinery 2023-03-31 03339802 2022-04-01 2023-03-31 03339802 2023-03-31 03339802 core:HirePurchaseContracts core:CurrentFinancialInstruments 2023-03-31 03339802 core:CurrentFinancialInstruments 2023-03-31 03339802 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 03339802 core:Non-currentFinancialInstruments 2023-03-31 03339802 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 03339802 core:MotorVehicles 2023-03-31 03339802 core:PlantMachinery 2023-03-31 iso4217:GBP xbrli:pure

Registration number: 03339802

A A W Control Systems Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

A A W Control Systems Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 9

 

A A W Control Systems Limited

(Registration number: 03339802)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

7,277

10,102

Current assets

 

Stocks

6

24,844

27,318

Debtors

7

53,708

74,142

Cash at bank and in hand

 

149,001

138,374

 

227,553

239,834

Creditors: Amounts falling due within one year

8

(178,361)

(194,307)

Net current assets

 

49,192

45,527

Total assets less current liabilities

 

56,469

55,629

Creditors: Amounts falling due after more than one year

8

-

(949)

Provisions for liabilities

(1,382)

(2,526)

Net assets

 

55,087

52,154

Capital and reserves

 

Called up share capital

2

2

Retained earnings

55,085

52,152

Shareholders' funds

 

55,087

52,154

 

A A W Control Systems Limited

(Registration number: 03339802)
Balance Sheet as at 31 March 2024

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

Directors' 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 directors acknowledge their 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 23 October 2024 and signed on its behalf by:
 

.........................................
C B Atkins
Company secretary and director

 

A A W Control Systems Limited

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

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:
2 Old Bath Road
Newbury
Berkshire
RG14 1QL
England

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.

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.

Tax

The tax expense for the period comprises current tax payable and deferred tax.

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.

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.

 

A A W Control Systems Limited

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

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

Plant and machinery

25-50% per annum of net book value

Motor vehicles

25% per annum of net book value

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

33.3% per annum of net book value

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.

Debtors

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

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

 

A A W Control Systems Limited

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

Borrowings

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 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.

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 directors) during the year, was 6 (2023 - 7).

 

A A W Control Systems Limited

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

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 April 2023

17,000

17,000

At 31 March 2024

17,000

17,000

Amortisation

At 1 April 2023

17,000

17,000

At 31 March 2024

17,000

17,000

Carrying amount

At 31 March 2024

-

-

The aggregate amount of research and development expenditure recognised as an expense during the period is £15,425 (2023 - £19,212).
 

 

A A W Control Systems Limited

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

5

Tangible assets

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2023

65,609

33,563

99,172

At 31 March 2024

65,609

33,563

99,172

Depreciation

At 1 April 2023

62,057

27,013

89,070

Charge for the year

1,187

1,638

2,825

At 31 March 2024

63,244

28,651

91,895

Carrying amount

At 31 March 2024

2,365

4,912

7,277

At 31 March 2023

3,552

6,550

10,102

6

Stocks

2024
£

2023
£

Stock

24,844

27,318

7

Debtors

Current

2024
£

2023
£

Trade debtors

49,043

59,796

Prepayments

1,631

1,495

Other debtors

3,034

12,851

 

53,708

74,142

 

A A W Control Systems Limited

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

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

-

1,329

Trade creditors

 

7,009

9,699

Taxation and social security

 

40,501

40,389

Other creditors

 

130,851

142,890

 

178,361

194,307

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

-

949

9

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Hire purchase contracts

-

1,329

Non-current loans and borrowings

2024
£

2023
£

Other borrowings

-

949

Hire purchase contracts are secured against the assets to which they relate.

 

A A W Control Systems Limited

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

10

Related party transactions

At the balance sheet date the amount due to the directors in relation to an interest free loan to the company was £949 (2023: £20,949).