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REGISTERED NUMBER: 11772161 (England and Wales)


















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024

FOR

AIS WIND ENERGY LTD

AIS WIND ENERGY LTD (REGISTERED NUMBER: 11772161)






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 WIND ENERGY LTD

COMPANY INFORMATION
for the Year Ended 31 May 2024







DIRECTORS: A McGlade
P Bula
M M Ainscough
D A Cheers
R McLemon
S W Edge



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



REGISTERED NUMBER: 11772161 (England and Wales)



AUDITORS: Fairhurst Audit Services Ltd
Statutory Auditor
Chartered Accountants
Douglas Bank House
Wigan Lane
Wigan
Lancashire
WN1 2TB



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



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

AIS WIND ENERGY LTD (REGISTERED NUMBER: 11772161)

STATEMENT OF FINANCIAL POSITION
31 May 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 8,146,146 8,476,821

CURRENT ASSETS
Debtors 5 15,909,577 13,137,991
Cash at bank 6,421 4,983
15,915,998 13,142,974
CREDITORS
Amounts falling due within one year 6 16,794,531 13,892,689
NET CURRENT LIABILITIES (878,533 ) (749,715 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

7,267,613

7,727,106

CREDITORS
Amounts falling due after more than one
year

7

(5,937,057

)

(6,874,911

)

PROVISIONS FOR LIABILITIES 10 (285,181 ) -
NET ASSETS 1,045,375 852,195

CAPITAL AND RESERVES
Called up share capital 11 30 30
Retained earnings 12 1,045,345 852,165
SHAREHOLDERS' FUNDS 1,045,375 852,195

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 24 February 2025 and were signed on its behalf by:





M M Ainscough - Director


AIS WIND ENERGY LTD (REGISTERED NUMBER: 11772161)

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

1. STATUTORY INFORMATION

AIS Wind Energy Ltd 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.

Significant judgements and estimates
Preparation of the financial statements requires management to make significant judgements and estimates. The items in the financial statements where these judgements and estimates have been made include:

a) Long term contracts
The valuation of the final outcome of long term contracts is estimated using information and assessments by experienced management. The basis on which this is calculated is set out in the accounting policies for turnover and long term contracts.

b) Useful economic lives
The useful economic lives of tangible fixed assets is assessed on an annual basis on the latest available information. Management believe that the useful economic lives being used currently are still appropriate.

Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided and is shown net of VAT. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer, which is usually at the point the customer has signed for the goods.

Turnover from long term contracts is recognised by reference to the stage of completion, when the stage of completion, costs incurred and costs to complete can be estimated reliably.The stage of completion is calculated by comparing costs incurred for work performed to date, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recoverable.

Long term contracts
Profit on long term contracts is taken as the work is carried out, if the final outcome can be assessed with reasonable certainty. The profit included is calculated on a prudent basis to reflect the proportion of the work carried out by the year end by recording turnover and related costs as contract activity progresses. Turnover is calculated as the proportion of total contract revenue costs incurred to date, compared to total expected costs for that contract. Revenue derived from variations on contracts is recognised only when they have been accepted by the customers. Full provision is made for losses on all contracts in the year in which they are foreseen.

Amounts recoverable/payable on contracts are stated at cost plus any attributable profit less any foreseeable losses and are included in debtors/creditors accordingly. Payments on account are included in creditors.

AIS WIND ENERGY LTD (REGISTERED NUMBER: 11772161)

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

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Tangible fixed assets are stated at cost or valuation less depreciation and impairment. Depreciation is calculated at the following annual rates to write off each asset over it's estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Improvements to property33.33%straight line basis
Plant and machinery5-10%reducing balance basis
Fixtures and fittings15%reducing balance basis
Computer equipment25%reducing balance basis
Motor vehicles10-25%reducing balance basis

Impairment of assets
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

Where an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, to the extent that the increased carrying amount does not exceed the carrying amount that would have been determined (net of depreciation) had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised as income immediately.

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.

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.

AIS WIND ENERGY LTD (REGISTERED NUMBER: 11772161)

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 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.

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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 47 (2023 - 57 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 June 2023 6,392 8,625,648 2,661
Additions - 136,233 -
Disposals - (2,000 ) -
At 31 May 2024 6,392 8,759,881 2,661
DEPRECIATION
At 1 June 2023 3,551 243,824 449
Charge for year 2,130 445,508 163
Eliminated on disposal - (227 ) -
At 31 May 2024 5,681 689,105 612
NET BOOK VALUE
At 31 May 2024 711 8,070,776 2,049
At 31 May 2023 2,841 8,381,824 2,212

AIS WIND ENERGY LTD (REGISTERED NUMBER: 11772161)

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

4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 June 2023 89,256 25,843 8,749,800
Additions 7,500 1,649 145,382
Disposals - - (2,000 )
At 31 May 2024 96,756 27,492 8,893,182
DEPRECIATION
At 1 June 2023 12,399 12,756 272,979
Charge for year 19,926 6,557 474,284
Eliminated on disposal - - (227 )
At 31 May 2024 32,325 19,313 747,036
NET BOOK VALUE
At 31 May 2024 64,431 8,179 8,146,146
At 31 May 2023 76,857 13,087 8,476,821

The net book value of tangible fixed assets includes £7,749,406 (2023: £8,172,501) in respect of assets held under finance leases.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 866,591 1,764,885
Amounts owed by group undertakings 13,033,365 10,051,871
Other debtors 92,517 3,914
Directors' loan accounts 270 270
Tax 164,889 83,089
Amounts recoverable on
contracts 1,743,732 1,207,507
Prepayments and accrued income 8,213 26,455
15,909,577 13,137,991

The company has an invoice discounting agreement against which certain debtors are assigned.

AIS WIND ENERGY LTD (REGISTERED NUMBER: 11772161)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Finance leases (see note 8) 967,609 989,249
Trade creditors 583,208 616,109
Amounts owed to group undertakings 14,131,816 10,456,864
Social security and other taxes 63,210 30,322
Other creditors 31,814 31,085
Invoice discounting 440,680 1,031,504
Contract costs 531,883 393,998
Accrued expenses and deferred
income 44,311 343,558
16,794,531 13,892,689

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Finance leases (see note 8) 5,937,057 6,874,911

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Finance leases
2024 2023
£    £   
Net obligations repayable:
Within one year 967,609 989,249
Between one and five years 5,937,057 6,874,911
6,904,666 7,864,160

Non-cancellable operating leases
2024 2023
£    £   
Within one year 10,203 -
Between one and five years 20,406 -
30,609 -

AIS WIND ENERGY LTD (REGISTERED NUMBER: 11772161)

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

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Finance leases 6,904,666 7,864,160
Invoice discounting 440,680 1,031,504
7,345,346 8,895,664

The bank overdraft is secured by a debenture and floating charge over all assets of the company. Also, a composite unlimited multilateral guarantee between the company and AIS Projects Limited, AIS Vanguard Limited, AIS Integrated Services Limited and Ainscough Industrial Services Limited.

The invoice discounting facility is secured by a fixed charge over the book debts, together with unlimited multilateral guarantees from Ainscough Industrial Services Limited and AIS Vanguard Limited.

Finance lease contracts are secured on the assets concerned.

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 285,181 -

Deferred
tax
£   
Charge to Income Statement during year 285,181
Balance at 31 May 2024 285,181

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
3,000 Ordinary £0.01 30 30

12. RESERVES
Retained
earnings
£   

At 1 June 2023 852,165
Profit for the year 193,180
At 31 May 2024 1,045,345

AIS WIND ENERGY LTD (REGISTERED NUMBER: 11772161)

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

13. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

John B S Fairhurst BA(Hons) FCA (Senior Statutory Auditor)
for and on behalf of Fairhurst Audit Services Ltd

14. RELATED PARTY DISCLOSURES

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

AIS Vanguard Limited
An intercompany loan exists with cost recharges/expenses of £52,066 (2023: £62,904) incurred with payments/receipts and loan transfers of £2,507,544 (2023: £2,279,764).
As at the year end £9,857,280 (2023: £7,297,670) remains due to the company.
Net purchases of £12,885 (2023: £59,524) were recorded, with £2,774 (2023: £14,839) due as at 31 May 2024.

AIS Projects Limited
An intercompany loan exists with cost recharges/expenses of £33,256 (2023: £1,169,149) incurred with payments/receipts and loan transfers of £141,006 (2023: £73,625).
As at the year end £4,221,092 (2023: £3,105,750) remains due to the company.
Net purchases of £Nil (2023: £21,319) were recorded, with £Nil (2023: £5,545) due as at 31 May 2024.

AIS Integrated Services Limited
An intercompany loan exists with loan transfers of £Nil (2023: £Nil).
As at the year end £53,444 (2023: £53,444) remains due to the company.

Ainscough Industrial Services Limited
An intercompany loan exists with cost recharges/expenses of £Nil (2023: £Nil) incurred with payments/receipts of £2,981,493 (2023: £4,036,477).
As at the year end £13,033,368 (2023: £10,051,871) remains due from the company.
Net purchases of £88,985 (2023: £434,940) were recorded, of which £380,000 (2023: £240,004) related to management charges.
Purchase creditors of £304,005 (2023: £115,495) were due as at 31 May 2024.
Net sales of £2,090 (2023 - £1,900) were recorded, with £3,420 (2023 - £2,280) due as at 31 May 2024.

Directors
Included in Debtors is £270 (2023: £270) due from Directors of the company.
During the year dividends of £Nil (2023 - £93,668) were paid to certain directors.

15. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is M M Ainscough.

16. 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.