REGISTERED NUMBER: 04992295 (England and Wales)

Financial Statements

for the Year Ended 30 March 2024

for

The AYS Group Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

Mrs B Scrace

Mr J Scrace

REGISTERED OFFICE:

c/o Parker Cavendish, Suite 301

Stanmore Business and Innovation Centre

Howard Road

Stanmore

Middlesex

HA7 1FW

REGISTERED NUMBER:

04992295 (England and Wales)

ACCOUNTANTS:

Parker Cavendish

Chartered Accountants

Suite 301

Stanmore Business and Innovation Centre

Howard Road

Stanmore

Middlesex

HA7 1FW

FIXED ASSETS

Property, plant and equipment

4

73,619

46,645

CURRENT ASSETS

Debtors

5

464,553

425,445

Cash at bank and in hand

4,777

4,261

469,330

429,706

CREDITORS

Amounts falling due within one year

6

(456,720

)

(451,305

)

NET CURRENT ASSETS/(LIABILITIES)

12,610

(21,599

)

TOTAL ASSETS LESS CURRENT LIABILITIES

86,229

25,046

CREDITORS

Amounts falling due after more than one year

7

(91,374

)

(65,686

)

NET LIABILITIES

(5,145

)

(40,640

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(5,245

)

(40,740

)

SHAREHOLDERS' FUNDS

(5,145

)

(40,640

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 March 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 March 2025 and were signed on its behalf by:

Mr J Scrace - Director

1.	STATUTORY INFORMATION

The AYS 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.

Turnover

Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

33.33% on cost

Fixtures and fittings

-

33.33% on cost

Motor vehicles

-

33.33% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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.

Going concern

The current situation in relation to the COVID-19 outbreak and in common with other businesses, the company is expected to see a decline in earnings. While the effect of this pandemic cannot be predicted with material certainty, the directors are taking the necessary steps to ensure the survival of the business which includes access to government funding and reducing / deferring expenditure where possible and will continue to do so for the foreseeable future. For these reasons, the directors continue to adopt the 'going concern' basis in preparing these financial statements.

Government assisted loans

Loans received through the Bounce Back Loan Scheme (BBLS) or the Coronavirus Business Interruption Loan Scheme (CBILS) are accounted for on the date the funds are received by the company. The first twelve months of the interest charge, which is funded by the government, is recognised in the profit and loss account as both an interest charge and as a government grant receivable.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 131 (2023 - 134 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

COST

At 31 March 2023

21,595

6,502

68,979

97,076

Additions

4,521

811

49,272

54,604

Disposals

(13,074

)

-

(7,729

)

(20,803

)

At 30 March 2024

13,042

7,313

110,522

130,877

DEPRECIATION

At 31 March 2023

18,059

4,228

28,144

50,431

Charge for year

3,748

2,013

21,783

27,544

Eliminated on disposal

(12,988

)

-

(7,729

)

(20,717

)

At 30 March 2024

8,819

6,241

42,198

57,258

NET BOOK VALUE

At 30 March 2024

4,223

1,072

68,324

73,619

At 30 March 2023

3,536

2,274

40,835

46,645

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 31 March 2023

68,979

Additions

49,272

Disposals

(7,729

)

At 30 March 2024

110,522

DEPRECIATION

At 31 March 2023

28,144

Charge for year

21,783

Eliminated on disposal

(7,729

)

At 30 March 2024

42,198

NET BOOK VALUE

At 30 March 2024

68,324

At 30 March 2023

40,835

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

351,644

290,502

Other debtors

112,909

134,943

464,553

425,445

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

60,890

54,540

Hire purchase contracts (see note 8)

8,386

5,286

Trade creditors

29,486

31,774

Taxation and social security

128,035

112,494

Other creditors

229,923

247,211

456,720

451,305

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Hire purchase contracts (see note 8)

74,860

39,074

Other creditors

16,514

26,612

91,374

65,686

8.	LEASING AGREEMENTS

At 30 March 2024, the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £17,668 (2023: £9,881).

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 March 2024 and 30 March 2023:

2024

2023

£

£

Mr J Scrace

Balance outstanding at start of year

82,650

74,943

Amounts advanced

94,348

8,804

Amounts repaid

(96,000

)

(1,097

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

80,998

82,650

Interest on the loan has been charged at 2.5% (2023: 2 %)