REGISTERED NUMBER: 00304972 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 August 2024

for

AWE Europe Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S D Tickle

B E Tickle

Mrs V Tickle

P Mott

REGISTERED OFFICE:

Alexander House

3A Blenheim Road

Epsom

Surrey

KT19 9AP

REGISTERED NUMBER:

00304972 (England and Wales)

ACCOUNTANTS:

CWF & Partners Ltd

Chartered Accountants

Freedman House

Christopher Wren Yard

117 High Street

Croydon

Surrey

CR0 1QG

FIXED ASSETS

Intangible assets

5

-

-

Tangible assets

6

199,636

147,932

Investments

7

50,000

50,000

249,636

197,932

CURRENT ASSETS

Stocks

2,397,807

2,430,702

Debtors

8

541,208

699,524

Cash at bank and in hand

589,263

532,801

3,528,278

3,663,027

CREDITORS

Amounts falling due within one year

9

2,166,115

2,126,194

NET CURRENT ASSETS

1,362,163

1,536,833

TOTAL ASSETS LESS CURRENT LIABILITIES

1,611,799

1,734,765

CREDITORS

Amounts falling due after more than one year

10

(162,500

)

(312,500

)

PROVISIONS FOR LIABILITIES

(35,242

)

(24,990

)

NET ASSETS

1,414,057

1,397,275

CAPITAL AND RESERVES

Called up share capital

1,310

1,310

Retained earnings

1,412,747

1,395,965

SHAREHOLDERS' FUNDS

1,414,057

1,397,275

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 7 April 2025 and were signed on its behalf by:

S D Tickle - Director

1.	STATUTORY INFORMATION

AWE Europe 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.

2.	STATEMENT OF COMPLIANCE

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

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Preparation of consolidated financial statements

The financial statements contain information about AWE Europe Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover

Turnover represents sales of goods net of VAT and trade discounts. Turnover is recognised when the goods are physically delivered to the customer.

Intangible assets

Amortisation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Software and web development

- 20% on cost

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Short leasehold

-

2% on cost or valuation

Plant and machinery

-

25% on reducing balance

Furniture, fixtures and equipment

-

at varying rates on cost

Motor vehicles

-

25% on reducing balance

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme.The assets of the scheme are held separately from those of the company in an independently administered fund. The amount charged to the profit and loss account represents the contributions payable to the scheme in respect of the accounting period.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 31 (2023 - 31 ) .

5.	INTANGIBLE FIXED ASSETS

Software

and web

development

£

COST

At 1 September 2023

and 31 August 2024

201,031

AMORTISATION

At 1 September 2023

and 31 August 2024

201,031

NET BOOK VALUE

At 31 August 2024

-

At 31 August 2023

-

6.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 September 2023

13,853

844,244

858,097

Additions

33,324

92,354

125,678

Disposals

(13,853

)

-

(13,853

)

At 31 August 2024

33,324

936,598

969,922

DEPRECIATION

At 1 September 2023

13,853

696,312

710,165

Charge for year

3,332

70,642

73,974

Eliminated on disposal

(13,853

)

-

(13,853

)

At 31 August 2024

3,332

766,954

770,286

NET BOOK VALUE

At 31 August 2024

29,992

169,644

199,636

At 31 August 2023

-

147,932

147,932

7.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST OR VALUATION

At 1 September 2023

and 31 August 2024

50,000

NET BOOK VALUE

At 31 August 2024

50,000

At 31 August 2023

50,000

Cost or valuation at 31 August 2024 is represented by:

Shares in

group

undertakings

£

Valuation in 2022

(285,000

)

Cost

335,000

50,000

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Kinetik Labs Limited

Registered office: United Kingdom

Nature of business: Manufacture of consumer electronics.

%

Class of shares:

holding

Ordinary

100.00

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.24

31.8.23

£

£

Trade debtors

167,360

352,340

Amounts owed by group undertakings

46,808

45,648

Other debtors

327,040

301,536

541,208

699,524

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.24

31.8.23

£

£

Bank loans and overdrafts

150,000

150,000

Trade and other creditors

918,739

828,236

Taxation and social security

127,340

313,496

Other creditors

970,036

834,462

2,166,115

2,126,194

10.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.8.24

31.8.23

£

£

Bank loans

162,500

312,500

11.	SECURED DEBTS

The following secured debts are included within creditors:

31.8.24

31.8.23

£

£

Bank loans

312,500

462,500

Import loan

857,946

521,633

1,170,446

984,133

Bank and import loans facilities are secured by a fixed and floating charge over all the current and future assets of the company and its fellow subsidiary.

12.	RELATED PARTY DISCLOSURES

The company is controlled by the directors S D Tickle, B E Tickle and Mrs V Tickle who between them own

99.24% of the ordinary share capital.