Company registration number 02570142 (England and Wales)
A & T SERVICES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
A & T SERVICES LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
A & T SERVICES LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
168,036
177,990
Current assets
Stocks
37,592
136,285
Debtors
4
498,612
465,321
Cash at bank and in hand
297,992
353,792
834,196
955,398
Creditors: amounts falling due within one year
5
(566,433)
(649,485)
Net current assets
267,763
305,913
Total assets less current liabilities
435,799
483,903
Creditors: amounts falling due after more than one year
6
(72,283)
(128,798)
Provisions for liabilities
(32,697)
(32,744)
Net assets
330,819
322,361
Capital and reserves
Called up share capital
5,614
5,614
Capital redemption reserve
4,386
4,386
Profit and loss reserves
320,819
312,361
Total equity
330,819
322,361
A & T SERVICES LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2024
31 December 2024
- 2 -

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 14 March 2025 and are signed on its behalf by:
Mr T J Richards
Mr S J Richards
Director
Director
Mr R Richards
Director
Company Registration No. 02570142
A & T SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 3 -
1
Accounting policies
Company information

A & T Services Limited is a private company limited by shares incorporated in England and Wales. The registered office is 9 Tregarne Terrace, St Austell, Cornwall, PL25 4DD.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Going concern

The financial statements have been prepared on the going concern basis. After making due enquiries and having considered the ongoing impact of Covid 19 and the resulting restrictions on the UK’s trueindustrial operating markets as a result of lockdowns, the directors have reasonable expectation that the company has adequate resources to continue in business for the foreseeable future.

The company has benefited from grants from the local authority and the Coronavirus Job Retention Scheme during the periods in which the company was unable to open as usual. In the periods during which trading was permitted demand has remained strong.

 

1.3
Turnover

Turnover in relation to maintenance, mechanical and engineering products and services is recognised at the fair value of the consideration received or receivable and is shown net of VAT and any discounts. Turnover is recognised when ownership of the products have passed to the buyer or by the stage of completion of projects in progress.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
15% per annum on the reducing balance
Computers
33% per annum on the reducing balance
Motor vehicles
25% per annum on the reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

A & T SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 4 -
1.6
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

1.7
Cash at bank and in hand

Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8
Debtors and creditors receivable/payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

1.9
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.10
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.11
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

A & T SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 5 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
33
32
3
Tangible fixed assets
Plant and equipment
Computers
Motor vehicles
Total
£
£
£
£
Cost
At 1 January 2024
101,174
38,755
415,975
555,904
Additions
2,040
1,744
43,226
47,010
Disposals
-
0
-
0
(103,919)
(103,919)
At 31 December 2024
103,214
40,499
355,282
498,995
Depreciation and impairment
At 1 January 2024
76,652
34,374
266,888
377,914
Depreciation charged in the year
3,719
1,813
40,213
45,745
Eliminated in respect of disposals
-
0
-
0
(92,700)
(92,700)
At 31 December 2024
80,371
36,187
214,401
330,959
Carrying amount
At 31 December 2024
22,843
4,312
140,881
168,036
At 31 December 2023
24,522
4,381
149,087
177,990

The net carrying value of tangible fixed assets includes the following in respect of assets held under hire purchase contracts.

2024
2023
£
£
Motor vehicles
102,003
118,377
A & T SERVICES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 6 -
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
491,937
462,173
Other debtors
6,675
3,148
498,612
465,321
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
119,600
26,468
Trade creditors
168,989
227,112
Corporation tax
58,751
37,341
Other taxation and social security
59,999
76,336
Other creditors
159,094
282,228
566,433
649,485
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans (secured)
27,819
90,521
Obligations under finance leases
44,464
38,277
72,283
128,798

Hire purchase agreements are secured against the assets to which they relate. The outstanding amount at 31st December 2024 was £75,051 (2023: £65,359).

 

7
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
2023
£
£
Within one year
2,814
4,653
Between two and five years
1,876
4,691
4,690
9,344
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