IRIS Accounts Production v24.3.0.553 12403104 Board of Directors 1.6.23 31.5.24 31.5.24 0 0 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh124031042023-05-31124031042024-05-31124031042023-06-012024-05-31124031042022-05-31124031042022-06-012023-05-31124031042023-05-3112403104ns15:EnglandWales2023-06-012024-05-3112403104ns14:PoundSterling2023-06-012024-05-3112403104ns10:Director12023-06-012024-05-3112403104ns10:PrivateLimitedCompanyLtd2023-06-012024-05-3112403104ns10:SmallEntities2023-06-012024-05-3112403104ns10:AuditExempt-NoAccountantsReport2023-06-012024-05-3112403104ns10:SmallCompaniesRegimeForDirectorsReport2023-06-012024-05-3112403104ns10:SmallCompaniesRegimeForAccounts2023-06-012024-05-3112403104ns10:FullAccounts2023-06-012024-05-3112403104ns10:Director22023-06-012024-05-3112403104ns10:Director32023-06-012024-05-3112403104ns10:Director42023-06-012024-05-3112403104ns10:Director52023-06-012024-05-3112403104ns10:Director62023-06-012024-05-3112403104ns10:RegisteredOffice2023-06-012024-05-3112403104ns5:CurrentFinancialInstruments2024-05-3112403104ns5:CurrentFinancialInstruments2023-05-3112403104ns5:ShareCapital2024-05-3112403104ns5:ShareCapital2023-05-3112403104ns5:RetainedEarningsAccumulatedLosses2024-05-3112403104ns5:RetainedEarningsAccumulatedLosses2023-05-3112403104ns5:CostValuation2023-05-3112403104ns5:WithinOneYearns5:CurrentFinancialInstruments2024-05-3112403104ns5:WithinOneYearns5:CurrentFinancialInstruments2023-05-31
REGISTERED NUMBER: 12403104 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

FOR

AIS EURELO LIMITED

AIS EURELO LIMITED (REGISTERED NUMBER: 12403104)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 May 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


AIS EURELO LIMITED

COMPANY INFORMATION
for the Year Ended 31 May 2024







DIRECTORS: M M Ainscough
D A Cheers
S W Edge
R McLemon
T Majcherski
Mrs A Majcherska



REGISTERED OFFICE: Vanguard House
Bradley Lane
Standish
Wigan
Lancashire
WN6 0XF



REGISTERED NUMBER: 12403104 (England and Wales)



ACCOUNTANTS: Fairhurst Accountants Ltd
Chartered Accountants
Douglas Bank House
Wigan Lane
Wigan
Lancashire
WN1 2TB



BANKERS: HSBC
2-4 St Ann's Square
Manchester
M2 7HD



SOLICITORS: Clarke Wilmott
2nd Floor,19 Spring Gardens
Manchester
M2 1FB

AIS EURELO LIMITED (REGISTERED NUMBER: 12403104)

STATEMENT OF FINANCIAL POSITION
31 May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investments 4 25,683 25,683

CURRENT ASSETS
Debtors 5 847,389 767,317
Cash at bank 23,971 20,984
871,360 788,301
CREDITORS
Amounts falling due within one year 6 1,196,760 1,013,881
NET CURRENT LIABILITIES (325,400 ) (225,580 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(299,717

)

(199,897

)

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (299,817 ) (199,997 )
(299,717 ) (199,897 )

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 February 2025 and were signed on its behalf by:





M M Ainscough - Director


AIS EURELO LIMITED (REGISTERED NUMBER: 12403104)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

AIS Eurelo 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.

The company has reported an operating loss for the year and has net liabilities as at 31 May 2024. However, there are amounts owing to Ainscough Industrial Services Limited group of companies, and they have confirmed their ongoing support, both financial and management.

Current management accounts and forecasts indicate that the company will become profitable in 2025.

On this basis, the directors believe it appropriate to adopt the going concern basis of preparation of the financial statements.

Preparation of consolidated financial statements
The financial statements contain information about AIS Eurelo Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Related party exemption
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.

Financial instruments
The company only holds basic financial instruments, as defined under Section 11 of FRS 102.

Trade and other debtors are initially recognised at the transaction price 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.

Short term financial liabilities, including trade and other creditors, overdrafts and related party loans, are measured at transaction price. Financial liabilities that have no stated interest rate and are payable within one year shall be measured at the undiscounted amount due, those payable after one year should be measured at amortised cost, using the effective interest rate method.

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 statement of financial position date.


AIS EURELO LIMITED (REGISTERED NUMBER: 12403104)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 May 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position 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.

Investments in subsidiaries
Investments in subsidiaries are stated at cost less provision for impairment.

3. EMPLOYEES AND DIRECTORS

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

4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 June 2023
and 31 May 2024 25,683
NET BOOK VALUE
At 31 May 2024 25,683
At 31 May 2023 25,683

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed by group undertakings 839,433 761,797
Other debtors 7,956 5,520
847,389 767,317

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 27,356 5,700
Amounts owed to joint ventures 754,483 643,142
Other creditors 414,921 365,039
1,196,760 1,013,881

AIS EURELO LIMITED (REGISTERED NUMBER: 12403104)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 May 2024

7. RELATED PARTY DISCLOSURES

During the year the following transactions were entered into with the following related party:

Ainscough Industrial Services Limited

A 50% joint venture

Advances of £111,340 (2023 - £233,298) were made with £15,162 (2023 - £1,922) of net purchases/costs recharges. As at the year end the loan balance due was £754,483 (2023 - £643,142), together with a trade balance payable of £20,127 (2023 - £4,965).

Directors
Included in Other creditors is £381,313 (2023 - £343,813) due to a Director of the company.

8. ULTIMATE CONTROLLING PARTY

The directors have ultimate control of the company.

9. ULTIMATE PARENT COMPANY

The ultimate parent company is Ainscough Industrial Services Limited, a company registered in England and Wales, which prepares group financial statements. Copies can be obtained from Vanguard House, Bradley Lane, Standish, Wigan WN6 0XF.