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REGISTERED NUMBER: 06324537 (England and Wales)








Unaudited Financial Statements

for the Year Ended

31 January 2024

for

Asset Engineering (2007) Limited

Asset Engineering (2007) Limited (Registered number: 06324537)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Asset Engineering (2007) Limited

Company Information
for the Year Ended 31 January 2024







DIRECTORS: A R Utting
R E Utting





SECRETARY: A R Utting





REGISTERED OFFICE: Unit J14
Dudley Central Trading Estate
Dudley
West Midlands
DY2 8QX





REGISTERED NUMBER: 06324537 (England and Wales)





ACCOUNTANTS: Nicklin Accountancy Services Limited
Church Court
Stourbridge Road
Halesowen
West Midlands
B63 3TT

Asset Engineering (2007) Limited (Registered number: 06324537)

Balance Sheet
31 January 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 174,362 162,407

CURRENT ASSETS
Stocks 5,000 20,000
Debtors 5 111,953 87,642
Cash at bank 463,627 475,870
580,580 583,512
CREDITORS
Amounts falling due within one year 6 354,079 467,338
NET CURRENT ASSETS 226,501 116,174
TOTAL ASSETS LESS CURRENT
LIABILITIES

400,863

278,581

CREDITORS
Amounts falling due after more than one year 7 (16,571 ) (12,933 )

PROVISIONS FOR LIABILITIES (7,850 ) -
NET ASSETS 376,442 265,648

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 376,342 265,548
SHAREHOLDERS' FUNDS 376,442 265,648

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

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

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 9 December 2024 and were signed on its behalf by:



A R Utting - Director


Asset Engineering (2007) Limited (Registered number: 06324537)

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

1. STATUTORY INFORMATION

Asset Engineering (2007) 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.

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.
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 20% on cost

Stocks
Work in progress is valued at the lower of cost and net realisable value.

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.

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.

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 5 (2023 - 5 ) .

Asset Engineering (2007) Limited (Registered number: 06324537)

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

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Motor
property fittings vehicles Totals
£    £    £    £   
COST
At 1 February 2023 142,981 19,838 42,750 205,569
Additions - - 24,387 24,387
At 31 January 2024 142,981 19,838 67,137 229,956
DEPRECIATION
At 1 February 2023 - 18,787 24,375 43,162
Charge for year - 210 12,222 12,432
At 31 January 2024 - 18,997 36,597 55,594
NET BOOK VALUE
At 31 January 2024 142,981 841 30,540 174,362
At 31 January 2023 142,981 1,051 18,375 162,407

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 110,181 87,142
Other debtors 1,772 500
111,953 87,642

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 10,033 6,467
Trade creditors 36,250 24,634
Taxation and social security 39,581 24,385
Other creditors 268,215 411,852
354,079 467,338

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 16,571 12,933

8. RELATED PARTY DISCLOSURES

At the year end there was a balance due to the director of £146 (2023: £146).

At the year end there was a balance due to Shaperite Profiles Ltd, a company controlled by the directors father, of £242,077 (2023: £324,988).