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Registration number: 04534202

Anglo Integrated Systems Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2024

 

Anglo Integrated Systems Limited

(Registration number: 04534202)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

93,370

89,159

Current assets

 

Stocks

6

53,707

23,120

Debtors

7

138,893

137,927

Cash at bank and in hand

 

742

56,005

 

193,342

217,052

Creditors: Amounts falling due within one year

8

(117,863)

(129,099)

Net current assets

 

75,479

87,953

Total assets less current liabilities

 

168,849

177,112

Creditors: Amounts falling due after more than one year

8

(17,200)

(25,800)

Provisions for liabilities

(16,140)

(16,940)

Net assets

 

135,509

134,372

Capital and reserves

 

Called up share capital

9

10

10

Retained earnings

135,499

134,362

Shareholders' funds

 

135,509

134,372

 

Anglo Integrated Systems Limited

(Registration number: 04534202)
Balance Sheet as at 30 June 2024

For the financial year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director for issue on 27 February 2025
 

.........................................

T J Parr

Director

 

Anglo Integrated Systems Limited

Notes to the Financial Statements for the Year Ended 30 June 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Unit 6
Casterton Road Industrial Estate
Old Great North Road
Stamford
Lincolnshire
PE9 4EJ

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Anglo Integrated Systems Limited

Notes to the Financial Statements for the Year Ended 30 June 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% reducing balance

Motor vehicles

25% reducing balance

Office equipment

25% reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

4 years straight line

Website development

3 years straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Anglo Integrated Systems Limited

Notes to the Financial Statements for the Year Ended 30 June 2024

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Anglo Integrated Systems Limited

Notes to the Financial Statements for the Year Ended 30 June 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2023 - 9).

 

Anglo Integrated Systems Limited

Notes to the Financial Statements for the Year Ended 30 June 2024

4

Intangible assets

Goodwill
 £

Other intangible assets
 £

Total
£

Cost or valuation

At 1 July 2023

12,000

4,000

16,000

At 30 June 2024

12,000

4,000

16,000

Amortisation

At 1 July 2023

12,000

4,000

16,000

At 30 June 2024

12,000

4,000

16,000

Carrying amount

At 30 June 2024

-

-

-

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 July 2023

38,117

129,784

38,236

206,137

Additions

7,238

16,710

1,447

25,395

At 30 June 2024

45,355

146,494

39,683

231,532

Depreciation

At 1 July 2023

21,921

69,203

25,854

116,978

Charge for the year

4,856

13,011

3,317

21,184

At 30 June 2024

26,777

82,214

29,171

138,162

Carrying amount

At 30 June 2024

18,578

64,280

10,512

93,370

At 30 June 2023

16,196

60,581

12,382

89,159

 

Anglo Integrated Systems Limited

Notes to the Financial Statements for the Year Ended 30 June 2024

6

Stocks

2024
£

2023
£

Work in progress

36,132

9,020

Other inventories

17,575

14,100

53,707

23,120

7

Debtors

Current

2024
£

2023
£

Trade debtors

73,932

71,806

Prepayments

5,228

4,575

Other debtors

59,733

61,546

 

138,893

137,927

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Bank loans and overdrafts

10

10,481

8,600

Trade creditors

 

25,867

19,630

Amounts owed to related parties

18,131

22,797

Taxation and social security

 

24,540

33,847

Other creditors

 

38,844

44,225

 

117,863

129,099

Bank loans and obligations under finance lease and hire purchase contracts are secured on the assets of the company or the assets financed.

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

10

17,200

25,800

Creditors due after more than one year include HSBC Loan balance of £17,200 (2023 - £25,800), which is guaranteed by the Government.

 

Anglo Integrated Systems Limited

Notes to the Financial Statements for the Year Ended 30 June 2024

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

10

10

10

10

       

10

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

17,200

25,800

Current loans and borrowings

2024
£

2023
£

Bank borrowings

8,600

8,600

Bank overdrafts

1,881

-

10,481

8,600