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REGISTERED NUMBER: 02697898 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 May 2024

for

ASLR Fabrication Services Ltd

ASLR Fabrication Services Ltd (Registered number: 02697898)






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




Page

Balance Sheet 1

Notes to the Financial Statements 2


ASLR Fabrication Services Ltd (Registered number: 02697898)

Balance Sheet
31 May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 291,410 203,293

CURRENT ASSETS
Stocks 822,727 1,706,252
Debtors 5 2,446,593 1,283,024
Cash at bank 25,119 124,146
3,294,439 3,113,422
CREDITORS
Amounts falling due within one year 6 2,238,223 1,940,032
NET CURRENT ASSETS 1,056,216 1,173,390
TOTAL ASSETS LESS CURRENT LIABILITIES 1,347,626 1,376,683

CREDITORS
Amounts falling due after more than one year 7 (364,332 ) (152,234 )

PROVISIONS FOR LIABILITIES (72,853 ) (50,823 )
NET ASSETS 910,441 1,173,626

RESERVES
Capital redemption reserve 2 2
Retained earnings 910,439 1,173,624
SHAREHOLDERS' FUNDS 910,441 1,173,626

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 January 2025 and were signed on its behalf by:





Mr C Shenton - Director


ASLR Fabrication Services Ltd (Registered number: 02697898)

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

1. STATUTORY INFORMATION

ASLR Fabrication Services Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 02697898

Registered office: Opal Way
Stone Business Park
Stone
Staffordshire
ST15 0SS

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.

Turnover
Turnover represents net invoiced sales of goods and services, excluding value added tax.
Revenue is recognised as the company becomes entitled to consideration for the goods and services supplied. Therefore turnover also includes an element of work completed but not yet invoiced on service contracts.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 12.5% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

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 Profit and Loss Account, 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.

ASLR Fabrication Services Ltd (Registered number: 02697898)

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

2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 30 (2023 - 28 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 June 2023 1,215,834 29,912 110,505 268,639 1,624,890
Additions 38,294 - 122,862 909 162,065
Disposals - - (13,090 ) - (13,090 )
At 31 May 2024 1,254,128 29,912 220,277 269,548 1,773,865
DEPRECIATION
At 1 June 2023 1,036,445 29,202 107,084 248,866 1,421,597
Charge for year 27,209 179 28,298 5,172 60,858
At 31 May 2024 1,063,654 29,381 135,382 254,038 1,482,455
NET BOOK VALUE
At 31 May 2024 190,474 531 84,895 15,510 291,410
At 31 May 2023 179,389 710 3,421 19,773 203,293

ASLR Fabrication Services Ltd (Registered number: 02697898)

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

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
Additions 89,949
At 31 May 2024 89,949
DEPRECIATION
Charge for year 22,487
At 31 May 2024 22,487
NET BOOK VALUE
At 31 May 2024 67,462

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,969,475 1,111,605
Amounts owed by group undertakings 780 -
Other debtors 476,338 171,419
2,446,593 1,283,024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 851,095 278,634
Hire purchase contracts 14,526 -
Trade creditors 1,231,783 1,404,863
Taxation and social security 77,365 191,328
Other creditors 63,454 65,207
2,238,223 1,940,032

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 305,390 152,234
Hire purchase contracts 58,942 -
364,332 152,234

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 73,468 -

ASLR Fabrication Services Ltd (Registered number: 02697898)

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

9. OTHER FINANCIAL COMMITMENTS

The company has financial commitments for the leases of the premises ending in 2024 and 2027 of £364,000 at 31st May 2024.

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is ASLR Holdings Limited.