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REGISTERED NUMBER: 06924255 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH JUNE 2024

FOR

AI INDUSTRIAL SUPPLIES LTD

AI INDUSTRIAL SUPPLIES LTD (REGISTERED NUMBER: 06924255)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH JUNE 2024




Page

Company information 1

Balance sheet 2

Notes to the financial statements 4


AI INDUSTRIAL SUPPLIES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH JUNE 2024







DIRECTOR: M Berry





SECRETARY: Mrs J Berry





REGISTERED OFFICE: Unit 1
Normanton Business Park
Ripley Drive
Normanton
West Yorkshire
WF6 1QT





REGISTERED NUMBER: 06924255 (England and Wales)





ACCOUNTANTS: Smith Turner Chartered Accountants
Unit 7, Courtyard 31
Pontefract Road
Normanton
WF6 1JU

AI INDUSTRIAL SUPPLIES LTD (REGISTERED NUMBER: 06924255)

BALANCE SHEET
30TH JUNE 2024

30/6/24 30/6/23
Notes £    £   
FIXED ASSETS
Tangible assets 4 11,507 14,086

CURRENT ASSETS
Stocks 27,500 32,533
Debtors 5 104,266 87,263
Cash at bank and in hand 145,125 158,967
276,891 278,763
CREDITORS
Amounts falling due within one year 6 (124,745 ) (137,702 )
NET CURRENT ASSETS 152,146 141,061
TOTAL ASSETS LESS CURRENT
LIABILITIES

163,653

155,147

CREDITORS
Amounts falling due after more than one
year

7

(8,671

)

(18,848

)

PROVISIONS FOR LIABILITIES (2,641 ) (2,740 )
NET ASSETS 152,341 133,559

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 152,339 133,557
152,341 133,559

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th June 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

AI INDUSTRIAL SUPPLIES LTD (REGISTERED NUMBER: 06924255)

BALANCE SHEET - continued
30TH JUNE 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 director and authorised for issue on 23rd October 2024 and were signed by:





M Berry - Director


AI INDUSTRIAL SUPPLIES LTD (REGISTERED NUMBER: 06924255)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH JUNE 2024

1. STATUTORY INFORMATION

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

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 20% on reducing balance and at varying rates on cost

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the 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.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

AI INDUSTRIAL SUPPLIES LTD (REGISTERED NUMBER: 06924255)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st July 2023 53,740
Additions 678
At 30th June 2024 54,418
DEPRECIATION
At 1st July 2023 39,654
Charge for year 3,257
At 30th June 2024 42,911
NET BOOK VALUE
At 30th June 2024 11,507
At 30th June 2023 14,086

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/6/24 30/6/23
£    £   
Trade debtors 104,266 87,263

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30/6/24 30/6/23
£    £   
Bank loans and overdrafts 10,648 10,648
Trade creditors 81,147 91,003
Taxation and social security 27,022 28,548
Other creditors 5,928 7,503
124,745 137,702

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30/6/24 30/6/23
£    £   
Bank loans 8,671 18,848

8. RELATED PARTY DISCLOSURES

Included in creditors is an amount of £3,789 due to the director of the company. No interest is being charged on this amount and there are no fixed terms for repayment.