48 28 January 2025 false false false false false false false false false false true false false false false false false No description of principal activity 2023-10-01 Sage Accounts Production Advanced 2023 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 07531254 2023-10-01 2024-09-30 07531254 2024-09-30 07531254 2023-09-30 07531254 2022-10-01 2023-09-30 07531254 2023-09-30 07531254 2022-09-30 07531254 bus:Director5 2023-10-01 2024-09-30 07531254 core:PlantMachinery 2023-09-30 07531254 core:FurnitureFittings 2023-09-30 07531254 core:MotorVehicles 2023-09-30 07531254 core:PlantMachinery 2024-09-30 07531254 core:FurnitureFittings 2024-09-30 07531254 core:MotorVehicles 2024-09-30 07531254 core:Warranties 2023-10-01 2024-09-30 07531254 core:DeferredTaxation 2023-10-01 2024-09-30 07531254 core:PlantMachinery 2023-10-01 2024-09-30 07531254 core:FurnitureFittings 2023-10-01 2024-09-30 07531254 core:MotorVehicles 2023-10-01 2024-09-30 07531254 core:WithinOneYear 2024-09-30 07531254 core:WithinOneYear 2023-09-30 07531254 core:AfterOneYear 2024-09-30 07531254 core:AfterOneYear 2023-09-30 07531254 core:ShareCapital 2024-09-30 07531254 core:ShareCapital 2023-09-30 07531254 core:RetainedEarningsAccumulatedLosses 2024-09-30 07531254 core:RetainedEarningsAccumulatedLosses 2023-09-30 07531254 core:BetweenOneFiveYears 2024-09-30 07531254 core:BetweenOneFiveYears 2023-09-30 07531254 core:AcceleratedTaxDepreciationDeferredTax 2024-09-30 07531254 core:AcceleratedTaxDepreciationDeferredTax 2023-09-30 07531254 core:PlantMachinery 2023-09-30 07531254 core:FurnitureFittings 2023-09-30 07531254 core:MotorVehicles 2023-09-30 07531254 core:Warranties 2023-09-30 07531254 core:DeferredTaxation 2023-09-30 07531254 core:Warranties 2024-09-30 07531254 core:DeferredTaxation 2024-09-30 07531254 bus:SmallEntities 2023-10-01 2024-09-30 07531254 bus:Audited 2023-10-01 2024-09-30 07531254 bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 07531254 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 07531254 bus:FullAccounts 2023-10-01 2024-09-30 07531254 core:OfficeEquipment 2023-09-30 07531254 core:OfficeEquipment 2023-10-01 2024-09-30 07531254 core:OfficeEquipment 2024-09-30 07531254 core:OtherProvisionsContingentLiabilities 2023-09-30 07531254 core:OtherProvisionsContingentLiabilities 2023-10-01 2024-09-30 07531254 core:OtherProvisionsContingentLiabilities 2024-09-30
COMPANY REGISTRATION NUMBER: 07531254
Advanced Handling Limited
Filleted Financial Statements
For the year ended
30 September 2024
Advanced Handling Limited
Statement of Financial Position
30 September 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
6
368,736
449,065
Current assets
Stocks
823,072
1,110,035
Debtors
7
587,965
972,854
Cash at bank and in hand
2,322,776
1,370,154
------------
------------
3,733,813
3,453,043
Creditors: amounts falling due within one year
8
2,227,548
2,551,221
------------
------------
Net current assets
1,506,265
901,822
------------
------------
Total assets less current liabilities
1,875,001
1,350,887
Creditors: amounts falling due after more than one year
9
33,595
26,863
Provisions
Taxation including deferred tax
10
17,593
71,712
Other provisions
10
559,385
495,794
---------
---------
576,978
567,506
------------
------------
Net assets
1,264,428
756,518
------------
------------
Capital and reserves
Called up share capital
380,000
380,000
Profit and loss account
884,428
376,518
------------
---------
Shareholders funds
1,264,428
756,518
------------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
Advanced Handling Limited
Statement of Financial Position (continued)
30 September 2024
These financial statements were approved by the board of directors and authorised for issue on 13 January 2025 , and are signed on behalf of the board by:
M J Prince
Director
Company registration number: 07531254
Advanced Handling Limited
Notes to the Financial Statements
Year ended 30 September 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 1 Chapel Street, Warwick, Warwickshire, CV34 4HL. The trading address is Newcombe Way, Orton Southgate, Peterborough, PE2 6SE.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.
Research and development policy
Research expenditure is written off in the period in which it is incurred.
Research and Development relief is given in the tax computation at the rate applicable to Small and Medium Enterprises and the tax credit calculated and claimed. The credit is provided for in these Financial Statements.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Key sources of estimation uncertainty Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows: 1 Amounts recoverable on contracts Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, usually on despatch of the goods, the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably. 2 Depreciation Fixed assets are depreciated in line with the accounting policy. 3 Warranty provision A general provision is made for warranty costs based previous year costs incurred for warranty work. The provision is based on 5% of revenue on all contracts in excess of £7k. This includes parts, travel and wages costs. Specific provisions on larger contracts or for extended warranty periods are also provided for as deemed necessary.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all material timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant & Machinery
-
10% - 50% straight line
Fixtures & Fittings
-
10% straight line
Motor vehicles
-
33.33% straight line
Equipment
-
25% - 50% straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
The company holds basic financial instruments as defined in FRS102. The financial assets and financial liabilities of the company and their measurement basis are as follows: Financial assets - trade and other debtors are basic financial instruments and are debt instruments measured at amortised cost. Prepayments are not financial instruments. Cash at bank is classified as a basic financial instrument and is measured at amortised cost. Financial liabilities - trade creditors, accruals and other creditors are financial instruments, and are measured at amortised cost. Taxation and social security are not included in the financial instruments disclosure definition.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 48 (2023: 44 ).
5. Exceptional items
The directors have included an 'other provision' for contractual obligations and no further disclosures are made in respect of the provision as required by FRS 102 para 21.4 due to the prejudicial nature of the disclosures.
6. Tangible assets
Plant and machinery
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
£
Cost
At 1 October 2023
328,914
457,511
203,752
162,550
1,152,727
Additions
88,467
12,766
101,233
Disposals
( 33,786)
( 7,486)
( 41,272)
---------
---------
---------
---------
------------
At 30 September 2024
328,914
457,511
258,433
167,830
1,212,688
---------
---------
---------
---------
------------
Depreciation
At 1 October 2023
265,964
262,131
57,971
117,596
703,662
Charge for the year
30,202
44,603
66,545
17,992
159,342
Disposals
( 19,052)
( 19,052)
---------
---------
---------
---------
------------
At 30 September 2024
296,166
306,734
105,464
135,588
843,952
---------
---------
---------
---------
------------
Carrying amount
At 30 September 2024
32,748
150,777
152,969
32,242
368,736
---------
---------
---------
---------
------------
At 30 September 2023
62,950
195,380
145,781
44,954
449,065
---------
---------
---------
---------
------------
7. Debtors
2024
2023
£
£
Trade debtors
428,703
802,275
Other debtors
159,262
170,579
---------
---------
587,965
972,854
---------
---------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
410,584
693,452
Social security and other taxes
409,113
110,704
Other creditors
1,407,851
1,747,065
------------
------------
2,227,548
2,551,221
------------
------------
Other creditors includes staged payments on account of £951,943 (2023 - £1,365,701).
9. Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
33,595
26,863
--------
--------
10. Provisions
Warranties
Deferred tax (note 11)
Other provisions
Total
£
£
£
£
At 1 October 2023
145,794
71,712
350,000
567,506
Additions
( 54,119)
( 54,119)
Charge against provision
288,591
( 225,000)
63,591
---------
--------
---------
---------
At 30 September 2024
434,385
17,593
125,000
576,978
---------
--------
---------
---------
The directors have included an 'other provision' for contractual obligations and no further disclosures are made in respect of the provision as required by FRS 102 para 21.4 due to the prejudicial nature of the disclosures.
11. Deferred tax
The deferred tax included in the statement of financial position is as follows:
2024
2023
£
£
Included in provisions (note 10)
17,593
71,712
--------
--------
The deferred tax account consists of the tax effect of timing differences in respect of:
2024
2023
£
£
Accelerated capital allowances
55,447
71,712
--------
--------
12. Operating leases
As lessee
The total future minimum lease payments under non-cancellable operating leases are as follows:
2024
2023
£
£
Not later than 1 year
319,089
301,831
Later than 1 year and not later than 5 years
612,367
857,475
---------
------------
931,456
1,159,306
---------
------------
As lessor
The total future minimum lease payments receivable under non-cancellable operating leases are as follows:
2024
2023
£
£
Not later than 1 year
10,304
10,304
Later than 1 year and not later than 5 years
23,185
18,891
--------
--------
33,489
29,195
--------
--------
13. Summary audit opinion
The auditor's report dated 28 January 2025 was unqualified .
The senior statutory auditor was Jonathan Day , for and on behalf of Streets Audit LLP .
14. Controlling party
The company is under the control of Pronomic AB . The company is ultimately controlled by Amplex AB , a company registered in Sweden.