IRIS Accounts Production v24.3.2.46 09024165 Board of Directors Board of Directors 1.7.23 30.6.24 30.6.24 0 0 true false true false false true false Ordinary A 1.00000 Ordinary B 1.00000 Ordinary C 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh090241652023-06-30090241652024-06-30090241652023-07-012024-06-30090241652022-06-30090241652022-07-012023-06-30090241652023-06-3009024165ns15:EnglandWales2023-07-012024-06-3009024165ns14:PoundSterling2023-07-012024-06-3009024165ns10:Director12023-07-012024-06-3009024165ns10:Director22023-07-012024-06-3009024165ns10:PrivateLimitedCompanyLtd2023-07-012024-06-3009024165ns10:SmallEntities2023-07-012024-06-3009024165ns10:AuditExemptWithAccountantsReport2023-07-012024-06-3009024165ns10:SmallCompaniesRegimeForDirectorsReport2023-07-012024-06-3009024165ns10:SmallCompaniesRegimeForAccounts2023-07-012024-06-3009024165ns10:FullAccounts2023-07-012024-06-3009024165ns10:OrdinaryShareClass12023-07-012024-06-3009024165ns10:OrdinaryShareClass22023-07-012024-06-3009024165ns10:OrdinaryShareClass32023-07-012024-06-3009024165ns10:Director32023-07-012024-06-3009024165ns10:Director42023-07-012024-06-3009024165ns10:RegisteredOffice2023-07-012024-06-3009024165ns5:CurrentFinancialInstruments2024-06-3009024165ns5:CurrentFinancialInstruments2023-06-3009024165ns5:ShareCapital2024-06-3009024165ns5:ShareCapital2023-06-3009024165ns5:RetainedEarningsAccumulatedLosses2024-06-3009024165ns5:RetainedEarningsAccumulatedLosses2023-06-3009024165ns5:CostValuation2023-06-3009024165ns5:WithinOneYearns5:CurrentFinancialInstruments2024-06-3009024165ns5:WithinOneYearns5:CurrentFinancialInstruments2023-06-3009024165ns5:CurrentFinancialInstruments2023-07-012024-06-3009024165ns10:OrdinaryShareClass12024-06-3009024165ns10:OrdinaryShareClass22024-06-3009024165ns10:OrdinaryShareClass32024-06-30
REGISTERED NUMBER: 09024165 (England and Wales)






















Unaudited Financial Statements

for the Year Ended 30 June 2024

for

Action Import and Export Group Limited

Action Import and Export Group Limited (Registered number: 09024165)






Contents of the Financial Statements
for the year ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Accountants' Report 6

Action Import and Export Group Limited

Company Information
for the year ended 30 June 2024







DIRECTORS: C E Buist
P Murphy
J Buist
C Murphy





REGISTERED OFFICE: Active Court
237 Liverpool Road
Southport
Lancashire
PR8 4PJ





REGISTERED NUMBER: 09024165 (England and Wales)





ACCOUNTANTS: Bennett Brooks & Co Limited
Chartered Accountants
St George's Court
Winnington Avenue
Northwich
Cheshire
CW8 4EE

Action Import and Export Group Limited (Registered number: 09024165)

Balance Sheet
30 June 2024

2024 2023
Notes £ £
FIXED ASSETS
Investments 4 1,813,104 1,813,104

CURRENT ASSETS
Debtors 5 975 -
Cash at bank 458,314 486,470
459,289 486,470
CREDITORS
Amounts falling due within one year 6 (37,326 ) (27,007 )
NET CURRENT ASSETS 421,963 459,463
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,235,067

2,272,567

CAPITAL AND RESERVES
Called up share capital 7 1,000 1,000
Retained earnings 2,234,067 2,271,567
SHAREHOLDERS' FUNDS 2,235,067 2,272,567

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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 19 March 2025 and were signed on its behalf by:




C E Buist - Director



P Murphy - Director


Action Import and Export Group Limited (Registered number: 09024165)

Notes to the Financial Statements
for the year ended 30 June 2024

1. STATUTORY INFORMATION

Action Import and Export Group 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.

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.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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 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.

Fixed asset investment
Investments held as fixed assets are stated at cost, together with subsequent capital contributions, less any provisions for impairment.

Investments are reviewed for impairment if events or changes in circumstances indicate that the carrying amount may not be recoverable. Impairments are calculated such that the carrying value of the fixed asset investment is the lower of its cost or recoverable amount. Recoverable amount is the higher of its net realisable value and its value in use.

Short term debtors and creditors
Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the income statement.

Share capital
Ordinary A, Ordinary B and Ordinary C shares are classed as equity.

Distributions to equity holders
Dividends are recognised as a liability in the financial statements in the period in which the dividends are approved by the company's shareholders. These amounts are recognised in the statement of changes in equity.

Cash and cash equivalents
Cash and cash equivalents includes cash in hand, cash held with banks and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Action Import and Export Group Limited (Registered number: 09024165)

Notes to the Financial Statements - continued
for the year ended 30 June 2024

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 July 2023
and 30 June 2024 1,813,104
NET BOOK VALUE
At 30 June 2024 1,813,104
At 30 June 2023 1,813,104

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Other debtors 975 -

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Amounts owed to group undertakings 36,654 22,446
Other creditors 672 4,561
37,326 27,007

Amounts owed to group undertakings are repayable on demand and attract interest at 0%.

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
700 Ordinary A £1 700 700
250 Ordinary B £1 250 250
50 Ordinary C £1 50 50
1,000 1,000

The Ordinary A, Ordinary B and Ordinary C shares each carry one voting right, have no restrictions on dividends declared and have full right on a capital contribution.

8. RELATED PARTY DISCLOSURES

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.

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is considered to be the Action International Group Employee Ownership Trust who owns 95% of the shares in the company.

Action Import and Export Group Limited (Registered number: 09024165)

Notes to the Financial Statements - continued
for the year ended 30 June 2024

10. EMPLOYEE OWNERSHIP TRUST

On 1 March 2023, the shareholders elected to sell 95% of their shares to the Group's employees through the mechanism of a Employee Ownership Trust. As a result of this transaction Action Import and Export Group Limited have made a contribution of £1,010,000 to the former shareholders.

Action Import and Export Group Limited and its subsidiary, Paulmart Limited, are guarantors for loan notes issued on behalf of the trust known as "The Action International Group Employee Ownership Trust". There are loan notes authorised of up to £12.5m but at the year end, £7.6m loan notes were issued. There is a fixed and floating charge over the assets of the company in relation to the loan notes.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Action Import and Export Group Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Action Import and Export Group Limited for the year ended 30 June 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Action Import and Export Group Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Action Import and Export Group Limited and state those matters that we have agreed to state to the Board of Directors of Action Import and Export Group Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Action Import and Export Group Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Action Import and Export Group Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Action Import and Export Group Limited. You consider that Action Import and Export Group Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Action Import and Export Group Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Bennett Brooks & Co Limited
Chartered Accountants
St George's Court
Winnington Avenue
Northwich
Cheshire
CW8 4EE


19 March 2025