REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 31 December 2024 |
for |
Aalberts Surface Technologies OCT |
Limited |
REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 31 December 2024 |
for |
Aalberts Surface Technologies OCT |
Limited |
Aalberts Surface Technologies OCT |
Limited (Registered number: 03676535) |
Contents of the Financial Statements |
for the Year Ended 31 December 2024 |
Page |
Balance Sheet | 1 |
Notes to the Financial Statements | 2 |
Aalberts Surface Technologies OCT |
Limited (Registered number: 03676535) |
Balance Sheet |
31 December 2024 |
31.12.24 | 31.12.23 |
Notes | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash in hand |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
The financial statements were approved by the director and authorised for issue on |
Aalberts Surface Technologies OCT |
Limited (Registered number: 03676535) |
Notes to the Financial Statements |
for the Year Ended 31 December 2024 |
1. | STATUTORY INFORMATION |
Aalberts Surface Technologies OCT Limited is a |
Registered number: |
Registered office: |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Related party exemption |
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. |
Significant judgements and estimates |
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions regarding the carrying amounts of the company's assets and liabilities. These are based on historical experience and other factors that are considered relevant. They are reviewed on a regular basis and changes recognised in the period in which the estimate is revised. Actual results mar differ from these estimates. |
The following are the critical accounting judgements and key sources of estimation uncertainty: |
Tangible fixed assets are depreciated over their useful economic lives taking into account their residual values where appropriate. The acute lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing the asset lives, factors such as technical innovation, product life cycles and maintainable programmes are taken into account. Residual values consider such things as future market condition, the remaining life of the asset and projected disposal values. |
The value of stock is assessed for impairment. In assessing stock value, factors such as slow movement and obsolescence are taken into account. |
Aalberts Surface Technologies OCT |
Limited (Registered number: 03676535) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2024 |
2. | ACCOUNTING POLICIES - continued |
Turnover |
Turnover represents net invoiced sale of goods and services excluding value added tax and is recognised at the fair value of the consideration received for sale of goods and services to external customers in the ordinary course of business. Turnover is recognised when the goods have been delivered to the customer's place of business. The fair value of consideration takes into account returns, discounts and rebates. |
Tangible fixed assets |
Plant and machinery etc | - |
Stocks |
Stocks are valued at the lower of cost and net realisable value on a FIFO basis, 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. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
Aalberts Surface Technologies OCT |
Limited (Registered number: 03676535) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2024 |
2. | ACCOUNTING POLICIES - continued |
Hire purchase and leasing commitments |
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. |
Financial assets and liabilities |
Short term debtors are measured at transaction price. |
Short term creditors are measured at transaction price, less any impairment. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 January 2024 |
Additions |
At 31 December 2024 |
DEPRECIATION |
At 1 January 2024 |
Charge for year |
At 31 December 2024 |
NET BOOK VALUE |
At 31 December 2024 |
At 31 December 2023 |
Aalberts Surface Technologies OCT |
Limited (Registered number: 03676535) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2024 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.24 | 31.12.23 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.24 | 31.12.23 |
£ | £ |
Trade creditors |
Taxation and social security |
Other creditors |
7. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
31.12.24 | 31.12.23 |
£ | £ |
Within one year |
Between one and five years |
8. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
9. | OTHER FINANCIAL COMMITMENTS |
The company is a member of a cash pooling arrangement, maintained by Aalberts Finance B.V, with other selected Aalberts Group Companies. This arrangement requires that each company party to the agreement provides a limited guarantee covering any default on the repayment or overdraft facilities by any other member of the group. The director considers the likelihood of this being called upon as remote. |
Aalberts Surface Technologies OCT |
Limited (Registered number: 03676535) |
Notes to the Financial Statements - continued |
for the Year Ended 31 December 2024 |
10. | ULTIMATE CONTROLLING PARTY |
The company's ultimate parent undertaking and controlling party at the statement of financial position date was Aalberts N.V. a company incorporated in the Netherlands. The group financial statements are publicly available from Aalberts N.V. The registered office of Aalberts N.V. is World Trade Center, Utrecht, Stadsplateau 18, NL-3521 AZ Utrecht, PO Box 1218, NL-3500 BE, Utrecht, The Netherlands. |
On 29th December 2023 the company was purchased by a fellow group company, Aalberts Surface Technologies Limited from Aalberts Surface Treatment Tamworth Limited. Aalberts Surface Technologies Limited do not prepare consolidated accounts and the parent of the smallest group for which the consolidated accounts are drawn up and available is Aalberts N.V. a company incorporated in the Netherlands. |