38 27 AE Manufacturing Services Limited NI672594 false 2024-01-01 2024-12-31 2024-12-31 The principal activity of the company is the provision of subcontract manufacturing services involving fabrication of components, bonding of materials, upholstery and large format digital printing Digita Accounts Production Advanced 6.30.9574.0 true true NI672594 2024-01-01 2024-12-31 NI672594 2024-12-31 NI672594 bus:OrdinaryShareClass1 2024-12-31 NI672594 core:CurrentFinancialInstruments 2024-12-31 NI672594 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 NI672594 core:FurnitureFittingsToolsEquipment 2024-12-31 NI672594 core:LandBuildings 2024-12-31 NI672594 core:MotorVehicles 2024-12-31 NI672594 core:OtherPropertyPlantEquipment 2024-12-31 NI672594 bus:SmallEntities 2024-01-01 2024-12-31 NI672594 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-12-31 NI672594 bus:FilletedAccounts 2024-01-01 2024-12-31 NI672594 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 NI672594 bus:RegisteredOffice 2024-01-01 2024-12-31 NI672594 bus:Director4 2024-01-01 2024-12-31 NI672594 bus:OrdinaryShareClass1 2024-01-01 2024-12-31 NI672594 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 NI672594 core:Buildings 2024-01-01 2024-12-31 NI672594 core:FurnitureFittingsToolsEquipment 2024-01-01 2024-12-31 NI672594 core:LandBuildings 2024-01-01 2024-12-31 NI672594 core:MotorVehicles 2024-01-01 2024-12-31 NI672594 core:OfficeEquipment 2024-01-01 2024-12-31 NI672594 core:OtherPropertyPlantEquipment 2024-01-01 2024-12-31 NI672594 core:PlantMachinery 2024-01-01 2024-12-31 NI672594 1 2024-01-01 2024-12-31 NI672594 countries:NorthernIreland 2024-01-01 2024-12-31 NI672594 2023-12-31 NI672594 core:FurnitureFittingsToolsEquipment 2023-12-31 NI672594 core:LandBuildings 2023-12-31 NI672594 core:MotorVehicles 2023-12-31 NI672594 core:OtherPropertyPlantEquipment 2023-12-31 NI672594 2023-01-01 2023-12-31 NI672594 2023-12-31 NI672594 bus:OrdinaryShareClass1 2023-12-31 NI672594 core:CurrentFinancialInstruments 2023-12-31 NI672594 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 NI672594 core:FurnitureFittingsToolsEquipment 2023-12-31 NI672594 core:LandBuildings 2023-12-31 NI672594 core:MotorVehicles 2023-12-31 NI672594 core:OtherPropertyPlantEquipment 2023-12-31 xbrli:pure iso4217:GBP xbrli:shares

Registration number: NI672594

AE Manufacturing Services Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2024

 

AE Manufacturing Services Limited

(Registration number: NI672594)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

151,686

217,784

Current assets

 

Stocks

5

302,382

205,268

Debtors

6

962,531

965,260

Cash at bank and in hand

 

791,404

89,605

 

2,056,317

1,260,133

Creditors: Amounts falling due within one year

7

(1,557,117)

(702,457)

Net current assets

 

499,200

557,676

Total assets less current liabilities

 

650,886

775,460

Provisions for liabilities

(37,683)

(53,727)

Net assets

 

613,203

721,733

Capital and reserves

 

Called up share capital

8

2

2

Retained earnings

613,201

721,731

Shareholders' funds

 

613,203

721,733

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act 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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

AE Manufacturing Services Limited

(Registration number: NI672594)
Balance Sheet as at 31 December 2024

Approved and authorised by the Board on 3 April 2025 and signed on its behalf by:
 

.........................................
P D Paynter
Director

 

AE Manufacturing Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1

General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is: Murray House, Murray Street, Belfast, Antrim, BT1 6DN.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements are prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and with the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

Turnover from sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on delivery of the goods), the amount of turnover can be measured reliably, it is probable that economic benefits associated with the transaction can be measured reliably.

Turnover from the provision of services is recognised equally over the period of the services provided.

Tax

Current tax is recognised as the amount of income tax payable in respect of the profit for the current and past periods. It is calculated using the tax rates that have been enacted or substantively enacted by the reporting date.

Deferred tax is accounted for on all differences arising from the inclusion of items of income and expenditure in taxation computations in periods different from those in which they are included in the financial statements. Deferred tax is measured on an undiscounted basis. It is calculated using the tax rates that have been enacted or substantively enacted by the reporting date and which are expected to apply to the reversal of the timing difference.

 

AE Manufacturing Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Operating leases

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term. Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

Tangible 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.

Depreciation

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

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.

Depreciation is provided on the following basis:

Asset class

Depreciation method and rate

Buildings

25% straight-line

Plant and machinery

20% straight-line

Office equipment

33% straight-line

Motor vehicles

33% straight-line

Stocks

Stock and work in progress is valued at the lower of cost and net realisable value. Cost comprises acquisition price including any direct costs of acquisition, together with the cost of development including materials, labour and any directly attributable overheads. Net realisable value is calculated as the expected selling price less costs to complete and sell. At each reporting date the Directors review the carrying value of stocks and work-in-progress for evidence of any impairment. If circumstances indicate that an impairment is required, provision is made to reduce the carrying value to the lower of cost or net realisable value. Where arising, the impairment is recognised through the profit and loss account.

Short-term debtors and creditors

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Financial assets, including debtors, are reviewed at the reporting date to determine if there is any evidence of potential impairment. Any losses arising from impairment are recognised in the income statement in operating expenses.

 

AE Manufacturing Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Cash and cash equivalents

Cash and cash equivalents comprise cash at banks and in hand and short-term deposits with an original maturity date of three months or less. For the purpose of the statement of cash flow, cash and cash equivalents consist of cash and cash equivalents as defined above.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 38 (2023 - 27).

 

AE Manufacturing Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 January 2024

8,940

60,711

11,650

318,883

400,184

Additions

19,824

1,020

-

10,252

31,096

At 31 December 2024

28,764

61,731

11,650

329,135

431,280

Depreciation

At 1 January 2024

3,566

49,744

7,452

121,639

182,401

Charge for the year

3,707

6,022

3,888

83,576

97,193

At 31 December 2024

7,273

55,766

11,340

205,215

279,594

Carrying amount

At 31 December 2024

21,491

5,965

310

123,920

151,686

At 31 December 2023

5,374

10,968

4,198

197,244

217,784

 

AE Manufacturing Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

5

Stocks

2024
£

2023
£

Other inventories

302,382

205,268

6

Debtors

Current

2024
£

2023
£

Trade debtors

941,525

940,551

Prepayments

21,006

24,709

 

962,531

965,260

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

240,413

219,655

Taxation and social security

413,244

332,782

Accruals and deferred income

153,460

150,020

Other creditors

750,000

-

1,557,117

702,457

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

2

2

2

2

       
 

AE Manufacturing Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

9

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £25,410 (2023 - £Nil). At the year end the company had committed to a project to upgrade the electricity supply to the factory, amalgamating the current 4 separate supplies. A payment was made during the year to NIE Electricity Networks, and work is to commence in the new year, with additional expenditure noted above anticipated.

10

Related party transactions

At the year end the Company owed Otsar Holdings Limited £750,000 (2023: £Nil).

11

Ultimate Controlling party

The Company is a 100% subsidiary of Otsar Holdings Limited. R D S Gaston and S M Gaston own 100% of the share capital in Otsar Holdings Limited and are considered to be the ultimate controlling parties.