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Registered Number: 01289082
England and Wales

 

 

 

A.S. SCIENTIFIC PRODUCTS LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 December 2023

End date: 30 November 2024
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 101,756    86,634 
101,756    86,634 
Current assets      
Stocks 4 1,032,248    1,119,618 
Debtors 5 520,840    1,022,987 
Cash at bank and in hand 2,416,064    1,620,346 
3,969,152    3,762,951 
Creditors: amount falling due within one year 6 (3,175,364)   (3,145,704)
Net current assets 793,788    617,247 
 
Total assets less current liabilities 895,544    703,881 
Provisions for liabilities 7 (5,911)   (5,627)
Net assets 889,633    698,254 
 

Capital and reserves
     
Called up share capital 8 5,000    5,000 
Profit and loss account 884,633    693,254 
Shareholders' funds 889,633    698,254 
 


For the year ended 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the director on 07 May 2025 and were signed by:


-------------------------------
Paul Wiggins
Director
1
General Information
A.S. Scientific Products Limited is a private company, limited by shares , registered in England and Wales , registration number 01289082 , registration address 2 Barton Lane, Abingdon Science Park, Abingdon, Oxfordshire, OX14 3NB.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company's activities. Turnover is shown as sales net of value added tax, returns, rebates and discounts.
The company recognises revenue when:
the amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 10% Straight Line
Motor Vehicles 33% Straight Line
Factory Fittings 10% Straight Line
Computer & Office Equipment 10% & 20% Straight Line
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees


Average number of employees during the year was 47 (2023 : 47).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Factory Fittings   Computer & Office Equipment   Total
  £   £   £   £   £
At 01 December 2023 690,313    127,662    54,827    181,741    1,054,543 
Additions 2,319    45,078      5,444    52,841 
Disposals   (24,131)       (24,131)
At 30 November 2024 692,632    148,609    54,827    187,185    1,083,253 
Depreciation
At 01 December 2023 654,037    127,662    34,832    151,378    967,909 
Charge for year 9,946    15,026    2,894    9,853    37,719 
On disposals   (24,131)       (24,131)
At 30 November 2024 663,983    118,557    37,726    161,231    981,497 
Net book values
Closing balance as at 30 November 2024 28,649    30,052    17,101    25,954    101,756 
Opening balance as at 01 December 2023 36,276      19,995    30,363    86,634 


4.

Stocks

2024
£
  2023
£
Work in Progress 852,251    910,224 
Stock 179,997    209,394 
1,032,248    1,119,618 

5.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 500,256    1,007,066 
Prepayments & Accrued Income 18,714    15,921 
Other Debtors 1,870   
520,840    1,022,987 

6.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 211,137    348,046 
Corporation Tax 144,622    115,569 
PAYE & Social Security 96,381    46,797 
Accrued Expenses 934,573    1,349,744 
Other Creditors 1,707,433    1,115,834 
VAT 81,218    169,714 
3,175,364    3,145,704 

7.

Provisions for liabilities

2024
£
  2023
£
Deferred Tax 836    (5,554)
Charged to Profit & Loss 5,075    6,391 
Pension Provisions   4,790 
5,911    5,627 

8.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
5,000 Class A shares of £1.00 each 5,000    5,000 
5,000    5,000 

9.

Financial commitments, guarantees and contingencies

Other commitments
At the balance sheet date the company had commitments under non-cancellable operating leases, over the remaining life of those leases of £317,167 (2023 - £490,167).

Bank guarantees
During the year the bank guaranteed funds of behalf of the company. At the balance sheet date the amount held by the bank was £75,000 (2023 - £75,000).
10.

Summary of transactions with parent

The company has taken advantage of the exemption available per paragraph 33.1A of FRS 102 whereby it has not disclosed transactions with the ultimate parent company or any wholly owned subsidiary of the group.
2