BrightAccountsProduction v1.0.0 v1.0.0 2023-04-01 The company was not dormant during the period The company was trading for the entire period The principal activity of the company is that of design, supply, installation and maintenance of standby power systems, SCADA and electrical infrastructure. 30 August 2024 22 18 NI038043 2024-03-31 NI038043 2023-03-31 NI038043 2022-03-31 NI038043 2023-04-01 2024-03-31 NI038043 2022-04-01 2023-03-31 NI038043 uk-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 NI038043 uk-curr:PoundSterling 2023-04-01 2024-03-31 NI038043 uk-bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 NI038043 uk-bus:FullAccounts 2023-04-01 2024-03-31 NI038043 uk-bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 NI038043 uk-core:ShareCapital 2024-03-31 NI038043 uk-core:ShareCapital 2023-03-31 NI038043 uk-core:RetainedEarningsAccumulatedLosses 2024-03-31 NI038043 uk-core:RetainedEarningsAccumulatedLosses 2023-03-31 NI038043 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2024-03-31 NI038043 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-03-31 NI038043 uk-bus:FRS102 2023-04-01 2024-03-31 NI038043 uk-core:CopyrightsPatentsTrademarksServiceOperatingRights 2023-04-01 2024-03-31 NI038043 uk-core:Buildings 2023-04-01 2024-03-31 NI038043 uk-core:PlantMachinery 2023-04-01 2024-03-31 NI038043 uk-core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 NI038043 uk-core:MotorVehicles 2023-04-01 2024-03-31 NI038043 uk-core:IntangibleAssetsOtherThanGoodwill 2023-03-31 NI038043 uk-core:IntangibleAssetsOtherThanGoodwill 2024-03-31 NI038043 uk-core:IntangibleAssetsOtherThanGoodwill 2023-04-01 2024-03-31 NI038043 uk-core:CostValuation 2023-03-31 NI038043 uk-core:AdditionsToInvestments 2023-03-31 NI038043 uk-core:AdditionsToInvestments 2024-03-31 NI038043 uk-core:CostValuation 2024-03-31 NI038043 uk-core:CurrentFinancialInstruments 2024-03-31 NI038043 uk-core:CurrentFinancialInstruments 2023-03-31 NI038043 uk-core:WithinOneYear 2024-03-31 NI038043 uk-core:WithinOneYear 2023-03-31 NI038043 uk-core:WithinOneYear 2024-03-31 NI038043 uk-core:WithinOneYear 2023-03-31 NI038043 uk-core:AfterOneYear 2024-03-31 NI038043 uk-core:AfterOneYear 2023-03-31 NI038043 uk-core:BetweenOneFiveYears 2024-03-31 NI038043 uk-core:BetweenOneFiveYears 2023-03-31 NI038043 uk-core:OtherMiscellaneousReserve 2023-03-31 NI038043 uk-core:OtherMiscellaneousReserve 2023-04-01 2024-03-31 NI038043 uk-core:AcceleratedTaxDepreciationDeferredTax 2024-03-31 NI038043 uk-core:TaxLossesCarry-forwardsDeferredTax 2024-03-31 NI038043 uk-core:OtherDeferredTax 2024-03-31 NI038043 uk-core:RevaluationPropertyPlantEquipmentDeferredTax 2024-03-31 NI038043 uk-core:OtherMiscellaneousReserve 2024-03-31 NI038043 2023-04-01 2024-03-31 NI038043 uk-bus:CompanySecretaryDirector1 2023-04-01 2024-03-31 xbrli:pure iso4217:GBP xbrli:shares
Company Registration Number: NI038043
 
 
AC Automation (U.K.) Limited
 
Unaudited Financial Statements
 
for the financial year ended 31 March 2024



AC Automation (U.K.) Limited

CHARTERED ACCOUNTANTS REPORT
to the Board of Directors on the Compilation of the unaudited financial statements of AC Automation (U.K.) Limited
for the financial year ended 31 March 2024
 
In accordance with the engagement letter and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled for your approval the financial statements of the company for the financial year ended 31 March 2024 as set out on pages  to 13 which comprise the Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given to us.
 
This report is made solely to the Board of Directors of AC Automation (U.K.) Limited, as a body, in accordance with the terms of our engagement. Our work has been undertaken so that we might compile the financial statements that we have been engaged to compile, report to the company’s Board of Directors that we have done so, and state those matters that we have agreed to state to them in this 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 its Board of Directors, as a body, for our work or for this report.
 
We have carried out this engagement in accordance with guidance issued by Chartered Accountants Ireland and have complied with the relevant ethical guidance laid down by Chartered Accountants Ireland relating to members undertaking the compilation of financial statements.
 
You have acknowledged on the Statement of Financial Position for the year ended 31 March 2024 your duty to ensure that AC Automation (U.K.) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of AC Automation (U.K.) Limited. You consider that AC Automation (U.K.) Limited is exempt from the statutory audit requirement for the financial year.
 
We have not been instructed to carry out an audit or a review of the financial statements of AC Automation (U.K.) Limited. For this reason, we have not verified the adequacy, accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
 
 
 
__________________________________
QUARTER
Chartered Accountants
St Anne's House
15 Church Street
Cathedral Quarter
Belfast
BT1 1PG
 
30 August 2024



AC Automation (U.K.) Limited
Company Registration Number: NI038043
STATEMENT OF FINANCIAL POSITION
as at 31 March 2024

2024 2023
Notes £ £
 
Non-Current Assets
Intangible assets 4 2,354 2,637
Property, plant and equipment 5 455,603 313,725
Financial assets 6 570,166 530,683
───────── ─────────
Non-Current Assets 1,028,123 847,045
───────── ─────────
 
Current Assets
Inventories 7 74,302 74,323
Receivables 8 1,032,694 733,738
Cash and cash equivalents 2,304,908 1,176,678
───────── ─────────
3,411,904 1,984,739
───────── ─────────
Payables: amounts falling due within one year 9 (2,104,123) (602,221)
───────── ─────────
Net Current Assets 1,307,781 1,382,518
───────── ─────────
Total Assets less Current Liabilities 2,335,904 2,229,563
 
Payables:
amounts falling due after more than one year 10 (26,678) (47,429)
 
Provisions for liabilities 12 (110,489) (56,513)
───────── ─────────
Net Assets 2,198,737 2,125,621
═════════ ═════════
 
Equity
Called up share capital 60,000 60,000
Retained earnings 2,138,737 2,065,621
───────── ─────────
Equity attributable to owners of the company 2,198,737 2,125,621
═════════ ═════════
 
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A (Small Entities).
           
The company has taken advantage of the exemption under section 444 not to file the Income Statement and Directors' Report.
           
For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The directors confirm that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.
           
Approved by the Board and authorised for issue on 30 August 2024 and signed on its behalf by
           
           
           
________________________________          
Gary Callaghan          
Director          
           



AC Automation (U.K.) Limited
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 31 March 2024

   
1. General Information
 
AC Automation (U.K.) Limited is a company limited by shares incorporated in Northern Ireland. Trooperslane Industrial Estate, Sloefield Park, Carrickfergus, Antrim, BT38 8GR is the registered office, which is also the principal place of business of the company. The nature of the company’s operations and its principal activities are set out in the Directors' Report. The financial statements have been presented in Pound (£) which is also the functional currency of the company.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the year ended 31 March 2024 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Revenue
Turnover represents the total invoice value, excluding value added tax, of sales made during the year.
 
Intangible assets
 
Licences
Licences are valued at cost less accumulated amortisation.
 
Amortisation is calculated to write off the cost in equal annual instalments over their estimated useful life of 20 years.
 
Property, plant and equipment and depreciation
Property, plant and equipment are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of property, plant and equipment, less their estimated residual value, over their expected useful lives as follows:
 
  Short leasehold property - 5% Straight line
  Plant and machinery - 25% Reducing Balance
  Fixtures, fittings and equipment - 15% Reducing Balance
  Motor vehicles - 25% Reducing Balance
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
Leasing and hire purchases
Property, plant and equipment held under leasing and Hire Purchases arrangements which transfer substantially all the risks and rewards of ownership to the company are capitalised and included in the Statement of Financial Position at their cost or valuation, less depreciation. The corresponding commitments are recorded as liabilities. Payments in respect of these obligations are treated as consisting of capital and interest elements, with interest charged to the Income Statement.
 
Leasing
Rentals payable under operating leases are dealt with in the Income Statement as incurred over the period of the rental agreement.
 
Financial assets
Investments held as fixed assets are stated at cost less provision for any permanent diminution in value. Income from other investments together with any related tax credit is recognised in the Income Statement in the year in which it is receivable.
 
Inventories
Stocks are valued at the lower of cost and net realisable value.  Cost comprises expenditure incurred in the normal course of business in bringing stocks to their present location and condition.  Full provision is made for obsolete and slow moving items.  Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.
 
Trade and other receivables
Trade and other receivables are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Borrowing costs
Borrowing costs relating to the acquisition of assets are capitalised at the appropriate rate by adding them to the cost of assets being acquired. Investment income earned on the temporary investment of specific borrowings pending their expenditure on the assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.
 
Provisions
Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the same value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.
 
Trade and other payables
Trade and other payables are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Employee benefits
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The company also operates a defined benefit pension scheme for its employees providing benefits based on final pensionable pay. The assets of this scheme are also held separately from those of the company, being invested with pension fund managers.
 
Taxation and deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Statement of Financial Position date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
 
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Statement of Financial Position date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Income Statement.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
       
3. Employees
 
The average monthly number of employees, including directors, during the financial year was 22, (2023 - 18).
 
  2024 2023
  Number Number
 
Average Number of Employees 22 18
  ═════════ ═════════
       
4. Intangible assets
     
  Licences Total
  £ £
Cost
At 1 April 2023 5,653 5,653
  ───────── ─────────
 
At 31 March 2024 5,653 5,653
  ───────── ─────────
Amortisation
At 1 April 2023 3,016 3,016
Charge for financial year 283 283
  ───────── ─────────
At 31 March 2024 3,299 3,299
  ───────── ─────────
Carrying amount
At 31 March 2024 2,354 2,354
  ═════════ ═════════
At 31 March 2023 2,637 2,637
  ═════════ ═════════
             
5. Property, plant and equipment
  Short Plant and Fixtures, Motor Total
  leasehold machinery fittings and vehicles  
  property   equipment    
  £ £ £ £ £
Cost
At 1 April 2023 8,350 487,264 176,309 471,764 1,143,687
Additions - 128,501 65,116 69,435 263,052
Disposals - - - (83,303) (83,303)
  ───────── ───────── ───────── ───────── ─────────
At 31 March 2024 8,350 615,765 241,425 457,896 1,323,436
  ───────── ───────── ───────── ───────── ─────────
Depreciation
At 1 April 2023 4,420 380,092 119,793 325,657 829,962
Charge for the financial year 418 50,121 10,828 59,807 121,174
On disposals - - - (83,303) (83,303)
  ───────── ───────── ───────── ───────── ─────────
At 31 March 2024 4,838 430,213 130,621 302,161 867,833
  ───────── ───────── ───────── ───────── ─────────
Carrying amount
At 31 March 2024 3,512 185,552 110,804 155,735 455,603
  ═════════ ═════════ ═════════ ═════════ ═════════
At 31 March 2023 3,930 107,172 56,516 146,107 313,725
  ═════════ ═════════ ═════════ ═════════ ═════════
           
5.1. Property, plant and equipment continued
 
Included above are assets held under finance leases or hire purchase contracts as follows:
 
  2024   2023  
  Carrying Depreciation Carrying Depreciation
  amount charge amount charge
  £ £ £ £
 
Motor vehicles 95,233 25,078 88,812 23,156
  ═════════ ═════════ ═════════ ═════════
       
6. Financial fixed assets
  Other Total
  investments  
     
Investments £ £
Cost
At 1 April 2023 530,683 530,683
Additions 39,483 39,483
  ───────── ─────────
At 31 March 2024 570,166 570,166
  ───────── ─────────
Carrying amount
At 31 March 2024 570,166 570,166
  ═════════ ═════════
At 31 March 2023 530,683 530,683
  ═════════ ═════════
       
7. Inventories 2024 2023
  £ £
 
Finished goods and goods for resale 74,302 74,323
  ═════════ ═════════
 
The replacement cost of stock did not differ significantly from the figures shown.
       
8. Receivables 2024 2023
  £ £
 
Trade receivables 1,002,724 706,889
Prepayments and accrued income 29,970 26,849
  ───────── ─────────
  1,032,694 733,738
  ═════════ ═════════
       
9. Payables 2024 2023
Amounts falling due within one year £ £
 
Net obligations under finance leases
and hire purchase contracts 24,677 27,207
Trade payables 329,446 257,957
Taxation  (Note 11) 311,166 162,326
Directors' current accounts 7,056 356
Other creditors 8,900 3,072
Accruals and deferred income:
Pension accrual 3,826 1,270
Other accruals 1,419,052 150,033
  ───────── ─────────
  2,104,123 602,221
  ═════════ ═════════
 
Eirgrid P.L.C. and Soni Limited have a first fixed charge to the Security Assets in AC Automation (UK) Limited.
       
10. Payables 2024 2023
Amounts falling due after more than one year £ £
 
Finance leases and hire purchase contracts 26,678 47,429
  ═════════ ═════════
 
 
Net obligations under finance leases
and hire purchase contracts
Repayable within one year 24,677 27,207
Repayable between one and five years 26,678 47,429
  ───────── ─────────
  51,355 74,636
  ═════════ ═════════
       
11. Taxation 2024 2023
  £ £
 
Payables:
VAT 111,085 21,405
Corporation tax 175,761 119,424
PAYE / NI 24,320 21,497
  ───────── ─────────
  311,166 162,326
  ═════════ ═════════
         
12. Provisions for liabilities
 
The amounts provided for deferred taxation are analysed below:
 
  Capital Total Total
  allowances    
       
    2024 2023
  £ £ £
 
At financial year start 56,513 56,513 35,496
Charged to profit and loss 53,976 53,976 21,017
  ───────── ───────── ─────────
At financial year end 110,489 110,489 56,513
  ═════════ ═════════ ═════════
           
13. Related party transactions
 
Windrose Bar and Restaurant
AC Automation (UK) Limited is a partner in the Windrose Bar and Restaurant.  As at 1 April 2023 the investment balance was £530,775. There was a net increase on this balance of £45,378 during the year. As at 31 March 2024 the balance was £576,153.

ACA Generation LLP
AC Automation (UK) Limited is a member in ACA Generation LLP.  As at 1 April 2023 AC Automation (UK) Limited had a negative investment of £91 in ACA Generation LLP. During the year there was a net increase of £5,895. As at 31 March 2024 AC Automation (UK) Ltd holds a negative investment of £5,986 in ACA Generation LLP.