Caseware UK (AP4) 2024.0.164 2024.0.164 2024-12-312024-12-31Investment propertyfalse2024-01-01false55trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 03096708 2024-01-01 2024-12-31 03096708 2023-01-01 2023-12-31 03096708 2024-12-31 03096708 2023-12-31 03096708 2023-01-01 03096708 c:Director1 2024-01-01 2024-12-31 03096708 d:PlantMachinery 2024-01-01 2024-12-31 03096708 d:PlantMachinery 2024-12-31 03096708 d:PlantMachinery 2023-12-31 03096708 d:PlantMachinery d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 03096708 d:CurrentFinancialInstruments 2024-12-31 03096708 d:CurrentFinancialInstruments 2023-12-31 03096708 d:Non-currentFinancialInstruments 2024-12-31 03096708 d:Non-currentFinancialInstruments 2023-12-31 03096708 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 03096708 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 03096708 d:Non-currentFinancialInstruments d:AfterOneYear 2024-12-31 03096708 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 03096708 d:ShareCapital 2024-12-31 03096708 d:ShareCapital 2023-12-31 03096708 d:RevaluationReserve 2024-01-01 2024-12-31 03096708 d:RevaluationReserve 2024-12-31 03096708 d:RevaluationReserve 2023-12-31 03096708 d:RetainedEarningsAccumulatedLosses 2024-01-01 2024-12-31 03096708 d:RetainedEarningsAccumulatedLosses 2024-12-31 03096708 d:RetainedEarningsAccumulatedLosses 2023-12-31 03096708 d:RetirementBenefitObligationsDeferredTax 2024-12-31 03096708 d:RetirementBenefitObligationsDeferredTax 2023-12-31 03096708 c:OrdinaryShareClass1 2024-01-01 2024-12-31 03096708 c:OrdinaryShareClass1 2024-12-31 03096708 c:OrdinaryShareClass1 2023-12-31 03096708 c:OrdinaryShareClass2 2024-01-01 2024-12-31 03096708 c:OrdinaryShareClass2 2024-12-31 03096708 c:OrdinaryShareClass2 2023-12-31 03096708 c:FRS102 2024-01-01 2024-12-31 03096708 c:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 03096708 c:FullAccounts 2024-01-01 2024-12-31 03096708 c:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 03096708 2 2024-01-01 2024-12-31 03096708 6 2024-01-01 2024-12-31 03096708 e:PoundSterling 2024-01-01 2024-12-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 03096708









AUTOMOTIVE ENVIRONMENTAL SERVICES LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024

 
AUTOMOTIVE ENVIRONMENTAL SERVICES LTD
REGISTERED NUMBER: 03096708

BALANCE SHEET
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
399
544

Investments
 6 
4,527,938
4,563,541

  
4,528,337
4,564,085

Current assets
  

Debtors
 7 
43,935
3,294

Current asset investments
 8 
1,460,011
2,152,384

Cash at bank and in hand
 9 
851,676
26,173

  
2,355,622
2,181,851

Creditors: amounts falling due within one year
 10 
(446,193)
(63,360)

Net current assets
  
 
 
1,909,429
 
 
2,118,491

Total assets less current liabilities
  
6,437,766
6,682,576

Creditors: amounts falling due after more than one year
 11 
(2,240,000)
(2,480,000)

Provisions for liabilities
  

Deferred tax
 12 
(273,695)
(282,596)

Net assets
  
3,924,071
3,919,980


Capital and reserves
  

Called up share capital 
 13 
100
100

Revaluation reserve
 14 
1,375,325
1,402,027

Profit and loss account
 14 
2,548,646
2,517,853

  
3,924,071
3,919,980


Page 1

 
AUTOMOTIVE ENVIRONMENTAL SERVICES LTD
REGISTERED NUMBER: 03096708
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 14 April 2025.




P L Wicks
Director

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
AUTOMOTIVE ENVIRONMENTAL SERVICES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

Automotive Environmental Services Ltd (“the Company”) is a company limited by shares, incorporated in England and Wales. Its registered office is Leytonstone House, Leytonstone, London, E11 1GA.
The Company’s principal activity is that of property investment.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

  
2.2

Going concern

The Company meets its day-to-day working capital requirements through careful management of working capital positions. After making enquiries, the Directors have reasonable expectations that the Company has adequate resources to continue in operational existence for the foreseeable future.The Company therefore continues to adopt the going concern basis in preparing its financial statements.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The Company’s main source of revenue is rental income from investment properties let to third parties. Sales invoices are raised monthly in advance for services provided. Revenue is recognised in the accounting period in which the services are rendered. Sales are made with credit terms. The element of financing is deemed immaterial and disregarded in the treatment of revenue.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 3

 
AUTOMOTIVE ENVIRONMENTAL SERVICES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.6

Current and deferred taxation

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

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
20%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 4

 
AUTOMOTIVE ENVIRONMENTAL SERVICES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

  
2.8

Investment property

Investment property is carried at fair value determined annually derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.9

Valuation of investments

Investments in subsidiaries are measured at fair value through profit or loss.

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

  
2.11

Current asset investments

Current asset investments are short-term deposits held with financial institutions with a maturity date of greater than three months from inception, and are initially measured at cost. Subsequently, the amounts will be measured at amortised cost using the effective interest method, less any impairment.

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

  
2.14

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.15

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 5

 
AUTOMOTIVE ENVIRONMENTAL SERVICES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

3.


Judgments in applying accounting policies and key sources of estimation uncertainty

Estimates and judgments are continually evaluated and are based on historic experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Critical judgments in applying the entity’s accounting policies
No critical accounting judgments have had to be made by management in preparing these financial statements.
Critical accounting estimates and assumptions
Investment properties are revalued. The revaluations of these fixed assets were conducted by the Directors of the Company. The Directors have used their knowledge and experience of the property market in which the Company operates, recent market transactions and current rental yields.
The Directors annually assess whether any investment property is impaired. Impairment reviews consist of assessing a number of factors including impairment due to market conditions that may only be transient or factors that indicate permanent impairment. Impairment losses are recognised in the profit and loss account.


4.


Employees

The average monthly number of employees, including directors, during the year was 5 (2023 - 5).

Page 6

 
AUTOMOTIVE ENVIRONMENTAL SERVICES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

5.


Tangible fixed assets





Plant and machinery

£



Cost or valuation


At 1 January 2024
430,579



At 31 December 2024

430,579



Depreciation


At 1 January 2024
430,035


Charge for the year on owned assets
145



At 31 December 2024

430,180



Net book value



At 31 December 2024
399



At 31 December 2023
544

Page 7

 
AUTOMOTIVE ENVIRONMENTAL SERVICES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

6.


Fixed asset investments





Investment in         Subsidiaries
Investment Properties
Total     

£
£
£



Cost or valuation


At 1 January 2024
1,263,541
3,300,000
4,563,541


Revaluations
(35,603)
-
(35,603)



At 31 December 2024
1,227,938
3,300,000
4,527,938




Investment properties
These are restated annually to their open market value by the Directors of the Company, based on their experience of the property market and comparable evidence. Investment properties were revalued upwards by £Nil (2023 - £142,994) during the year.
The Company has aggregate rentals receivable in relation to operating leases of £179,518 (
2023 - £201,580) on the above investment properties.
The historic cost of investment properties is £2,488,555 
(2023 - £2,488,555).
I
nvestments in subsidiaries
Investments include an investment in JAE Property Limited. This constitutes 73.60% of the share capital of JAE Property Limited. 


7.


Debtors

2024
2023
£
£



Trade debtors
1,000
1,655

Other debtors
22,060
1,639

Prepayments and accrued income
20,875
-

43,935
3,294



8.


Current asset investments

2024
2023
£
£

Unlisted investments
1,460,011
2,152,384


Page 8

 
AUTOMOTIVE ENVIRONMENTAL SERVICES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

9.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
851,676
26,173



10.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
-
5,700

Amounts owed to group undertakings
376,000
-

Corporation tax
62,578
47,519

Other creditors
-
2,526

Accruals and deferred income
7,615
7,615

446,193
63,360



11.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Other creditors
2,240,000
2,480,000


Page 9

 
AUTOMOTIVE ENVIRONMENTAL SERVICES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

12.


Deferred taxation




2024
2023


£

£






At beginning of year
(282,596)
(236,700)


Charged to profit or loss
8,901
(45,896)



At end of year
(273,695)
(282,596)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


On revalued investments
(273,695)
(282,596)


13.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



80 (2023 - 80) Ordinary A shares of £1.00 each
80
80
20 (2023 - 20) Ordinary B shares of £1.00 each
20
20

100

100



14.


Reserves

Revaluation reserve

The revaluation reserve arose on the revaluation of investments, less the associated deferred tax adjustment in accordance with FRS102.

Profit and loss account

The profit and loss account represents cumulative distributable profits and losses net of dividends and other adjustments.

Page 10

 
AUTOMOTIVE ENVIRONMENTAL SERVICES LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

15.


Related party transactions

The Company has received loans from Trusts in which some of the directors are Trustees. At the year end, the amounts outstanding to those Trusts was £2,240,000 (2023 - £2,480,000).
In the current year the Company received a loan from a subsidiary. At the year end, the amounts owed to this associated undertakings was £376,000 
(2023 - £Nil)
All loans are unsecured and interest free.
The Company paid dividends to certain directors of £222,000 (
2023 - £168,000).

 
Page 11