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REGISTERED NUMBER: 03120759 (England and Wales)



















ANSINI LIMITED

AUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024






ANSINI LIMITED (REGISTERED NUMBER: 03120759)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 6


ANSINI LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTORS: Mr T J Billings
Mr M O Lee
Mr K McGuigan



REGISTERED OFFICE: 997 London Road
Derby
Derbyshire
DE24 8PX



BUSINESS ADDRESS: Pleasley Vale Business Park
Pleasley
Mansfield
Nottinghamshire
NG19 8RL



REGISTERED NUMBER: 03120759 (England and Wales)



AUDITORS: Johnson Tidsall Limited
Chartered Accountants
& Statutory Auditor
81 Burton Road
Derby
Derbyshire
DE1 1TJ



BANKERS: Lloyds Bank plc
2 Stockwell Gate
Mansfield
Nottinghamshire
NG18 1JZ

ANSINI LIMITED (REGISTERED NUMBER: 03120759)

BALANCE SHEET
29 FEBRUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 189,959 215,794

CURRENT ASSETS
Stocks 5 413,718 491,082
Debtors 6 505,563 640,329
Cash at bank and in hand 2,673,227 2,337,324
3,592,508 3,468,735
CREDITORS
Amounts falling due within one year 7 448,464 557,407
NET CURRENT ASSETS 3,144,044 2,911,328
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,334,003

3,127,122

PROVISIONS FOR LIABILITIES 8 36,757 41,648
NET ASSETS 3,297,246 3,085,474

CAPITAL AND RESERVES
Called up share capital 9 1,000 1,000
Retained earnings 3,296,246 3,084,474
SHAREHOLDERS' FUNDS 3,297,246 3,085,474

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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 November 2024 and were signed on its behalf by:





Mr K McGuigan - Director


ANSINI LIMITED (REGISTERED NUMBER: 03120759)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024


1. STATUTORY INFORMATION

Ansini 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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and 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.

The following judgements and estimates have had the most significant effect on amounts recognised in the financial statements:

Work in progress - £41,838 (2023: £77,701) the director reviews each stock line in isolation and apportions costs in relation to raw materials, labour and how far through the process the job is at the year end. This basis has been consistently applied.

Depreciation - £56,355 (2023: £49,330) the useful economic lives of fixed assets can vary. Management review the policies and determine their appropriateness based on historic experience and the current expectations of useful life.

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

The company manufactures and distributes plastic based products. Revenue from the sale of these goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer and the amount of revenue can be measured reliably.

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 - 25% on reducing balance and 10 years straight line
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

Tangible fixed assets are stated at cost less accumulated depreciation. Cost includes costs directly attributable to making the asset capable of operating as intended.

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.


ANSINI LIMITED (REGISTERED NUMBER: 03120759)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


2. ACCOUNTING POLICIES - continued
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.

Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions.

Debtors
Short term debtors are measured at transaction price, less any impairment.

Creditors
Short term creditors are measured at transaction price.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2023 - 23 ) .

ANSINI LIMITED (REGISTERED NUMBER: 03120759)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 March 2023 1,309,056 26,179 16,305 49,820 1,401,360
Additions 32,221 - - - 32,221
Disposals (12,554 ) - - - (12,554 )
At 29 February 2024 1,328,723 26,179 16,305 49,820 1,421,027
DEPRECIATION
At 1 March 2023 1,103,343 19,744 15,925 46,554 1,185,566
Charge for year 53,042 1,609 95 1,609 56,355
Eliminated on disposal (10,853 ) - - - (10,853 )
At 29 February 2024 1,145,532 21,353 16,020 48,163 1,231,068
NET BOOK VALUE
At 29 February 2024 183,191 4,826 285 1,657 189,959
At 28 February 2023 205,713 6,435 380 3,266 215,794

5. STOCKS
2024 2023
£    £   
Raw materials 371,880 413,381
Work-in-progress 41,838 77,701
413,718 491,082

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 396,149 504,702
Amounts owed by group undertakings 74,711 41,561
Other debtors - 61,993
Prepayments and accrued income 34,703 32,073
505,563 640,329

Included in other debtors is a balance of £0 (2023: £61,093) in respect of invoice financing. Invoice financing is secured by a fixed and floating charge.

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 207,504 374,724
Amounts owed to group undertakings 3,357 826
Corporation tax 73,630 49,366
Social security and other taxes 12,109 10,852
VAT 54,682 40,194
Other creditors 5,686 5,254
Accruals and deferred income 91,496 76,191
448,464 557,407

ANSINI LIMITED (REGISTERED NUMBER: 03120759)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


8. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Accelerated capital allowances 36,757 41,648

Deferred
tax
£   
Balance at 1 March 2023 41,648
Provided during year (4,891 )
Balance at 29 February 2024 36,757

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1,000 Ordinary £1 1,000 1,000

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

DAVID MELLOR FCA (Senior Statutory Auditor)
for and on behalf of Johnson Tidsall Limited

11. OTHER FINANCIAL COMMITMENTS

As at 29 February 2024 the company had financial commitments under operating leases of £0 (2023: £6,000) in relation to property.

12. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Ansini Limited is a wholly owned subsidiary of ASG Group Associates Ltd. They share the same registered office. On 12th April 2024, ASG Group Associates Limited sold its subsidiaries, which included Ansini Limited.