831 true false false false true true false false false false false false true false false 2023-04-01 Sage Accounts Production Advanced 2024 - FRS102_2024 877,243 625,173 100 2 25 332,386 1 332,387 332,386 1 332,387 381,698 381,698 1,548,128 1,548,128 1,548,128 1,593 1,593 1 123,129 123,129 xbrli:pure xbrli:shares iso4217:GBP 09298295 2023-04-01 2024-03-31 09298295 2024-03-31 09298295 2023-03-31 09298295 2022-04-01 2023-03-31 09298295 2023-03-31 09298295 2022-03-31 09298295 bus:Consolidated 2023-04-01 2024-03-31 09298295 core:NetGoodwill 2023-04-01 2024-03-31 09298295 bus:Consolidated core:NetGoodwill 2023-04-01 2024-03-31 09298295 bus:Consolidated core:Subsidiary1 2023-04-01 2024-03-31 09298295 core:LandBuildings core:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 09298295 bus:Consolidated core:LandBuildings core:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 09298295 core:MotorVehicles 2023-04-01 2024-03-31 09298295 bus:Consolidated core:MotorVehicles 2023-04-01 2024-03-31 09298295 bus:RegisteredOffice 2023-04-01 2024-03-31 09298295 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 09298295 bus:Consolidated bus:OrdinaryShareClass1 2023-04-01 2024-03-31 09298295 bus:LeadAgentIfApplicable 2023-04-01 2024-03-31 09298295 bus:Consolidated bus:LeadAgentIfApplicable 2023-04-01 2024-03-31 09298295 bus:Director1 2023-04-01 2024-03-31 09298295 bus:Director2 2023-04-01 2024-03-31 09298295 bus:Director3 2023-04-01 2024-03-31 09298295 bus:Consolidated 2024-03-31 09298295 bus:Consolidated core:WithinOneYear 2024-03-31 09298295 bus:Consolidated core:WithinOneYear 2023-03-31 09298295 core:WithinOneYear 2024-03-31 09298295 core:WithinOneYear 2023-03-31 09298295 bus:Consolidated 2023-03-31 09298295 bus:Consolidated core:NetGoodwill 2023-03-31 09298295 bus:Consolidated core:NetGoodwill 2024-03-31 09298295 bus:Consolidated core:LandBuildings 2023-03-31 09298295 bus:Consolidated core:LandBuildings 2024-03-31 09298295 bus:Consolidated core:MotorVehicles 2024-03-31 09298295 bus:Consolidated core:DeferredTaxation 2023-04-01 2024-03-31 09298295 bus:Consolidated core:LandBuildings 2023-04-01 2024-03-31 09298295 bus:Consolidated 2022-04-01 2023-03-31 09298295 bus:Consolidated 2023-03-31 09298295 bus:Consolidated core:RetainedEarningsAccumulatedLosses 2022-04-01 2023-03-31 09298295 bus:Consolidated core:RetainedEarningsAccumulatedLosses 2023-04-01 2024-03-31 09298295 core:RetainedEarningsAccumulatedLosses 2022-04-01 2023-03-31 09298295 core:RetainedEarningsAccumulatedLosses 2023-04-01 2024-03-31 09298295 core:AfterOneYear bus:Consolidated 2024-03-31 09298295 core:AfterOneYear bus:Consolidated 2023-03-31 09298295 core:AfterOneYear 2024-03-31 09298295 core:AfterOneYear 2023-03-31 09298295 bus:Consolidated core:UKTax 2023-04-01 2024-03-31 09298295 bus:Consolidated core:UKTax 2022-04-01 2023-03-31 09298295 bus:Consolidated core:ShareCapital 2024-03-31 09298295 bus:Consolidated core:ShareCapital 2023-03-31 09298295 bus:Consolidated core:RetainedEarningsAccumulatedLosses 2024-03-31 09298295 bus:Consolidated core:RetainedEarningsAccumulatedLosses 2023-03-31 09298295 core:ShareCapital 2024-03-31 09298295 core:ShareCapital 2023-03-31 09298295 core:RetainedEarningsAccumulatedLosses 2024-03-31 09298295 core:RetainedEarningsAccumulatedLosses 2023-03-31 09298295 bus:Consolidated core:ShareCapital 2022-03-31 09298295 bus:Consolidated core:RetainedEarningsAccumulatedLosses 2022-03-31 09298295 bus:Consolidated 2022-03-31 09298295 core:ShareCapital 2022-03-31 09298295 core:BetweenOneFiveYears bus:Consolidated 2024-03-31 09298295 core:BetweenOneFiveYears bus:Consolidated 2023-03-31 09298295 core:CostValuation core:Non-currentFinancialInstruments 2024-03-31 09298295 core:Non-currentFinancialInstruments 2024-03-31 09298295 core:Non-currentFinancialInstruments 2023-03-31 09298295 core:AcceleratedTaxDepreciationDeferredTax bus:Consolidated 2024-03-31 09298295 bus:Consolidated core:LandBuildings 2023-03-31 09298295 core:LandBuildings 2024-03-31 09298295 bus:Consolidated core:DeferredTaxation 2024-03-31 09298295 bus:Consolidated bus:HighestPaidDirector 2023-04-01 2024-03-31 09298295 bus:Consolidated bus:HighestPaidDirector 2022-04-01 2023-03-31 09298295 bus:MediumEntities 2023-04-01 2024-03-31 09298295 bus:Audited 2023-04-01 2024-03-31 09298295 bus:Medium-sizedCompaniesRegimeForAccounts 2023-04-01 2024-03-31 09298295 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 09298295 bus:FullAccounts 2023-04-01 2024-03-31 09298295 bus:OrdinaryShareClass1 2024-03-31 09298295 bus:Consolidated bus:OrdinaryShareClass1 2024-03-31 09298295 bus:OrdinaryShareClass1 2023-03-31 09298295 bus:Consolidated bus:OrdinaryShareClass1 2023-03-31 09298295 core:LandBuildings 2023-04-01 2024-03-31
COMPANY REGISTRATION NUMBER: 09298295
AIM HOUSE INVESTMENTS LIMITED & SUBSIDIARY
FINANCIAL STATEMENTS
31 March 2024
AIM HOUSE INVESTMENTS LIMITED & SUBSIDIARY
FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2024
Contents
Pages
Officers and professional advisers
1
Strategic report
2 to 3
Directors' report
4 to 5
Independent auditor's report to the members
6 to 10
Consolidated statement of comprehensive income
11
Consolidated statement of financial position
12
Company statement of financial position
13
Consolidated statement of changes in equity
14
Company statement of changes in equity
15
Consolidated statement of cash flows
16
Notes to the financial statements
17 to 26
AIM HOUSE INVESTMENTS LIMITED & SUBSIDIARY
OFFICERS AND PROFESSIONAL ADVISERS
The board of directors
A Sullivan
J Brown
S Brown
Registered office
12 Hatherley Road
Sidcup
Kent
DA14 4DT
Auditor
Opass Billings Wilson & Honey LLP
Chartered Certified Accountants & statutory auditor
Numeric House
98 Station Road
Sidcup
Kent
DA15 7BY
Bankers
Barclays Bank Plc
Leicester
Leicestershire
LE87 2BB
AIM HOUSE INVESTMENTS LIMITED & SUBSIDIARY
STRATEGIC REPORT
YEAR ENDED 31 MARCH 2024
Introduction The directors present their strategic report to the company for the year ended 31 March 2024.
Review of the business Background: AIM House Investments Limited & Subsidiary is the group company, AIM House Investments is the parent company of AIM Commercial Cleaning Limited. Founded in 1979, AIM Commercial Cleaning Limited has built a reputation for delivering sustainable, customer-centric cleaning and support services across the UK. As an independent, family-run business, we place great emphasis on ethics, recruiting and retaining a motivated team. This team, supported by a strong management structure, ensures high levels of of service and client retention. Goals and Objectives: Our core focus remains on service excellence, which drives client retention and, coupled with a robust sales strategy, facilitates sustainable growth. We are committed to continuous improvement and innovation by reinvesting in our team and systems to remain industry leaders. Over the years, we've grown organically, continually assessing both our clients' needs and the marketplace to ensure our services align with evolving business environments. Strategy: The Directors prioritise managing risk to minimise exposure to external market influences and potential industry trends that could affect profitability. We maintain a balance client portfolio - spanning large, medium and small businesses in various private and public sectors. Our careful risk management has allowed us to successfully navigate transitions over the past three years, ensuring sustainable growth. Strategic Priorities: 1. Organic Growth: Building on our strong reputation and consistent performance 2. Client Retention: Strengthening partnerships through a customer-centric approach 3. Employee Retention: Ensuring AIM remains a great place to work 4. Continuous Improvement: Driving innovation to enhance service and quality 5. Sustainable Outcomes: Achieving progressive environmental and social impact aligned with our clients' goals
Review of the Year The Board is pleased with the year-end results for 2023/24: - Sales revenue increased by 22% to £14,373,498, driven by new business and a 12% rise in Real Living Wage contracts - Gross profit rose by 30%, with the margin increasing to 21.95% from 19.866% - Net trading profit grew from 6.5% to 8.1% of turnover New business wins and client retention exceeded targets. Employee retention increased by 9%, driven by the strategies mentioned above. Our operational structure has grown, with each department increasing in size, and several internal promotions, including members from our successful apprenticeship programme. Within operations, we continue future proofing and succession planning through a focus on developing our teams and promoting internally. We have seen recent success in promoting team members from cleaning, housekeeping, or administration roles to supervisory or management positions. Our Carbon Zero programme is progressing well, with an expected full accreditation by the end of the 2024/25 financial year. We've transitioned all vehicles to electric or hybrid, adopted fully renewable energy tariffs, and completed installation of a solar array at HQ which we estimate will generate up to 50% of our power requirements.
Key Performance Indicators The Board regularly reviews key operational and financial metrics, including gross margin, debtor days, and cash reserves. We also monitor client and staff retention, health and safety standard, HR performance, and ESG deliverables.
Summary The Board is optimistic about the future. AIM Commercial Cleaning achieved steady revenue growth despite operational challenges. We believe the cleaning sector will continue to thrive across the UK, and AIM is well-positioned to capitalise on market opportunities as an SME. We remain committed to reinvesting in the business for growth. With our unique culture, expertise, and passion for excellence, we are confident in achieving consistent double-digit growth into 2024/25 and beyond. The Board thanks all employees, clients and partners for their continued support, which contributes to AIM's ongoing success.
This report was approved by the board of directors on 20 May 2025 and signed on behalf of the board by:
A Sullivan
Director
AIM HOUSE INVESTMENTS LIMITED & SUBSIDIARY
DIRECTORS' REPORT
YEAR ENDED 31 MARCH 2024
The directors present their report and the financial statements of the group for the year ended 31 March 2024 .
Directors
The directors who served the company during the year were as follows:
A Sullivan
J Brown
S Brown
Dividends
The directors do not recommend the payment of a dividend.
Future developments
The group continues to look for ways to expand and grow the group.
Employment of disabled persons
The group is committed to a policy of equal opportunity with regards to its employment practices and procedures. This includes giving full and fair consideration to applications for employment by the company made by disabled persons, having regard to their particular aptitudes and abilities. Disabled persons employed by the group are provided suitable training enabling them to develop their career and obtain promotion with the organisation.
Employee involvement
During the year, the policy of providing employees with information about the company has continued through internal media methods in which employees have been encouraged to present their suggestions and views on the group's performance. Regular meeting are held between local management and employees to allow a free flow of information and ideas.
Directors' responsibilities statement
The directors are responsible for preparing the strategic report, directors' report and the financial statements in accordance with applicable law and regulations. Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the group and the company and the profit or loss of the group for that period. In preparing these financial statements, the directors are required to: - select suitable accounting policies and then apply them consistently; - make judgments and accounting estimates that are reasonable and prudent; - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Auditor
Each of the persons who is a director at the date of approval of this report confirms that:
- so far as they are aware, there is no relevant audit information of which the group and the company's auditor is unaware; and - they have taken all steps that they ought to have taken as a director to make themselves aware of any relevant audit information and to establish that the group and the company's auditor is aware of that information. The auditor is deemed to have been re-appointed in accordance with section 487 of the Companies Act 2006.
This report was approved by the board of directors on 20 May 2025 and signed on behalf of the board by:
A Sullivan
Director
AIM HOUSE INVESTMENTS LIMITED & SUBSIDIARY
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF AIM HOUSE INVESTMENTS LIMITED & SUBSIDIARY
YEAR ENDED 31 MARCH 2024
Opinion
We have audited the financial statements of AIM House Investments Limited (the 'parent company') and its subsidiary (the 'group') for the year ended 31 March 2024 which comprise the consolidated statement of comprehensive income, consolidated statement of financial position, company statement of financial position, consolidated statement of changes in equity, company statement of changes in equity, consolidated statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: - give a true and fair view of the state of the group's and of the parent company's affairs as at 31 March 2024 and of the group's profit for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; - have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's or the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
Other information
The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The directors are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the strategic report and the directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the strategic report and the directors' report have been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors' report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: - adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or - the parent company financial statements are not in agreement with the accounting records and returns; or - certain disclosures of directors' remuneration specified by law are not made; or - we have not received all the information and explanations we require for our audit.
Responsibilities of directors
As explained more fully in the directors' responsibilities statement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.
Auditor's responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: We identify and assess the key risks of material misstatement and then design and perform audit procedures in relation to those risks. Materiality has been calculated based on the gross assets and has been assessed at the level of £68,165 The key risk areas were considered to be - Threat of management override of controls - Compliance with Employment and Minimum Wage laws - Completeness and recognition of income - Occurrence, accuracy, completeness and cut off of payroll The appropriate audit approach was considered and the following audit work applied to these areas: - Our audit work to test management override involved reviewing journals throughout the year to confirm reasonableness as well as various discussions with management during the audit. - Our audit work in respect of compliance with employee laws involved selecting a sample of employees confirming evidence of right to work in the UK and ensuring that their respective pay levels were in line minimum wage legislation for the period. - Our audit work in respect of income included agreeing a sample of sales contracts through to the sales invoices raised, confirming these had been correctly allocated to the sales and nominal ledgers as well as reviewing sales invoices raised around the year end to confirm that all income had been recorded in the correct period. - Our audit work to test payroll involved a proof in total to confirm wages and salaries per the payroll reports agreed to the financial statements, tracing a sample of employees to identification and personnel records, recalculation of tax due for a chosen month for a sample of employees and a review of wages postings for a chosen month to confirm accuracy of postings to correct period. We performed substantive testing to identify any large fluctuations or significant and unexpected losses which may indicate risk of material misstatements due to fraud. We reviewed the financial statement disclosures and assessed compliance with the following relevant laws and regulations: - Companies Act 2006 - Data Protection Act 2018. - Health and Safety Legislations - Employment & Right to Work Laws - Environmental Laws - Minimum Wage Laws Irregularities which result from fraud are inherently more difficult to detect than irregularities which result from error, however there have never been any instances of fraud encountered with the company and there are controls in place through the segregation of duties and regular reviews of management accounts which reduce the risk of fraud through management override. All audit team members were made aware of the relevant laws & regulations applicable to the company together with potential fraud risks and remained alert to any indications of fraud non compliance with the laws & regulations throughout the audit. As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also: - Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. - Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the group's internal control. - Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors. - Conclude on the appropriateness of the directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the group's or the parent company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the group or the parent company to cease to continue as a going concern. - Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. - Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the group to express an opinion on the consolidated financial statements. We are responsible for the direction, supervision and performance of the group audit. We remain solely responsible for our audit opinion. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. Use of our report
This report is made solely to the company's members, as a body, in accordance with chapter 3 of part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.
Philip Benson Woodman FCCA
(Senior Statutory Auditor)
For and on behalf of
Opass Billings Wilson & Honey LLP
Chartered Certified Accountants & statutory auditor
Numeric House
98 Station Road
Sidcup
Kent
DA15 7BY
20 May 2025
AIM HOUSE INVESTMENTS LIMITED & SUBSIDIARY
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
YEAR ENDED 31 MARCH 2024
2024
2023
Note
£
£
Turnover
4
14,373,498
11,780,335
Cost of sales
11,218,469
9,439,840
-------------
-------------
Gross profit
3,155,029
2,340,495
Administrative expenses
2,011,139
1,567,071
------------
------------
Operating profit
5
1,143,890
773,424
Other interest receivable and similar income
29,555
Interest payable and similar expenses
9
2,712
747
------------
------------
Profit before taxation
1,170,733
772,677
Tax on profit
10
293,490
147,504
------------
---------
Profit for the financial year and total comprehensive income
877,243
625,173
------------
---------
All the activities of the group are from continuing operations.
AIM HOUSE INVESTMENTS LIMITED & SUBSIDIARY
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
31 March 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
12
388,069
381,698
Current assets
Stocks
14
12,032
13,805
Debtors
15
2,836,046
2,540,831
Cash at bank and in hand
3,580,528
2,949,454
------------
------------
6,428,606
5,504,090
Creditors: amounts falling due within one year
16
3,931,061
3,832,049
------------
------------
Net current assets
2,497,545
1,672,041
------------
------------
Total assets less current liabilities
2,885,614
2,053,739
Creditors: amounts falling due after more than one year
17
532,463
542,848
Provisions
Taxation including deferred tax
19
1,593
------------
------------
Net assets
2,351,558
1,510,891
------------
------------
Capital and reserves
Called up share capital
22
123,129
123,129
Profit and loss account
2,228,429
1,387,762
------------
------------
Shareholders funds
2,351,558
1,510,891
------------
------------
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the medium companies regime.
These financial statements were approved by the board of directors and authorised for issue on 20 May 2025 , and are signed on behalf of the board by:
A Sullivan
Director
Company registration number: 09298295
AIM HOUSE INVESTMENTS LIMITED & SUBSIDIARY
COMPANY STATEMENT OF FINANCIAL POSITION
31 March 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
12
381,698
Investments
13
1,548,128
1,548,128
------------
------------
1,929,826
1,548,128
Current assets
Debtors
15
627,959
1,262,758
Cash at bank and in hand
232,093
1
---------
------------
860,052
1,262,759
Creditors: amounts falling due within one year
16
1,233,312
1,624,028
------------
------------
Net current liabilities
373,260
361,269
------------
------------
Total assets less current liabilities
1,556,566
1,186,859
Creditors: amounts falling due after more than one year
17
520,000
520,000
------------
------------
Net assets
1,036,566
666,859
------------
------------
Capital and reserves
Called up share capital
22
123,129
123,129
Profit and loss account
913,437
543,730
------------
---------
Shareholders funds
1,036,566
666,859
------------
---------
The profit for the financial year of the parent company was £ 369,707 (2023: £ 543,730 ).
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the medium companies regime.
These financial statements were approved by the board of directors and authorised for issue on 20 May 2025 , and are signed on behalf of the board by:
A Sullivan
Director
Company registration number: 09298295
AIM HOUSE INVESTMENTS LIMITED & SUBSIDIARY
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
YEAR ENDED 31 MARCH 2024
Called up share capital
Profit and loss account
Total
£
£
£
At 1 April 2022
123,129
762,589
885,718
Profit for the year
625,173
625,173
---------
---------
---------
Total comprehensive income for the year
625,173
625,173
At 31 March 2023
123,129
1,351,186
1,474,315
Profit for the year
877,243
877,243
---------
------------
------------
Total comprehensive income for the year
877,243
877,243
---------
------------
------------
At 31 March 2024
123,129
2,228,429
2,351,558
---------
------------
------------
AIM HOUSE INVESTMENTS LIMITED & SUBSIDIARY
COMPANY STATEMENT OF CHANGES IN EQUITY
YEAR ENDED 31 MARCH 2024
Called up share capital
Profit and loss account
Total
£
£
£
At 1 April 2022
123,129
123,129
Profit for the year
543,730
543,730
---------
---------
---------
Total comprehensive income for the year
543,730
543,730
At 31 March 2023
123,129
543,730
666,859
Profit for the year
369,707
369,707
---------
---------
---------
Total comprehensive income for the year
369,707
369,707
---------
---------
------------
At 31 March 2024
123,129
913,437
1,036,566
---------
---------
------------
AIM HOUSE INVESTMENTS LIMITED & SUBSIDIARY
CONSOLIDATED STATEMENT OF CASH FLOWS
YEAR ENDED 31 MARCH 2024
2024
2023
£
£
Cash flows from operating activities
Profit for the financial year
877,243
625,173
Adjustments for:
Depreciation of tangible assets
2,124
14,128
Other interest receivable and similar income
( 29,555)
Interest payable and similar expenses
2,712
747
Gains on disposal of tangible assets
( 3,096)
Tax on profit
293,490
147,504
Accrued expenses
187,459
259,640
Changes in:
Stocks
1,773
4,995
Trade and other debtors
( 295,215)
( 207,119)
Trade and other creditors
( 230,764)
( 364,033)
---------
---------
Cash generated from operations
809,267
477,939
Interest paid
( 2,712)
( 747)
Interest received
29,555
Tax paid
( 150,671)
( 95,093)
---------
---------
Net cash from operating activities
685,439
382,099
---------
---------
Cash flows from investing activities
Purchase of tangible assets
373,203
Proceeds from sale of tangible assets
3,096
---------
---------
Net cash from investing activities
373,203
3,096
---------
---------
Cash flows from financing activities
Payments of finance lease liabilities
( 9,294)
32,142
---------
---------
Net cash (used in)/from financing activities
( 9,294)
32,142
---------
---------
Net increase in cash and cash equivalents
1,049,348
417,337
Cash and cash equivalents at beginning of year
2,949,454
2,532,117
------------
------------
Cash and cash equivalents at end of year
3,998,802
2,949,454
------------
------------
AIM HOUSE INVESTMENTS LIMITED & SUBSIDIARY
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 12 Hatherley Road, Sidcup, Kent, DA14 4DT.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Debtors
Debtors are initially recorded at fair value and are assessed for impairment at each statement of financial position date. If any impairments exist the debtors are remeasured to the present value of the expected future cash inflows.
Creditors
Creditors are initially recorded at fair value and are then remeasured to the present value of the expected future cash outflows.
Disclosure exemptions
The parent company satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following reduced disclosures available under FRS 102:
(a) Disclosures in respect of each class of share capital have not been presented.
(b) No cash flow statement has been presented for the company.
(c) Disclosures in respect of financial instruments have not been presented.
(d) No disclosure has been given for the aggregate remuneration of key management personnel.
Consolidation
The financial statements consolidate the financial statements of AIM House Investments Limited & Subsidiary and all of its subsidiary undertakings.
The results of subsidiaries acquired or disposed of during the year are included from or to the date that control passes.
The parent company has applied the exemption contained in section 408 of the Companies Act 2006 and has not presented its individual profit and loss account.
Judgements and key sources of estimation uncertainty
There are no significant estimates or assumptions made that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably. Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that it is probable the expenses recognised will be recovered.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the 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.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Negative Goodwill
-
100% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold Property
-
2% straight line
Motor vehicles
-
25% straight line
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in associates
Investments in associates are accounted for using the equity method of accounting, whereby the investment is initially recognised at the transaction price and subsequently adjusted to reflect the group's share of the profit or loss, other comprehensive income and equity of the associate.
Investments in joint ventures
Investments in joint ventures are accounted for using the equity method of accounting, whereby the investment is initially recognised at the transaction price and subsequently adjusted to reflect the group's share of the profit or loss, other comprehensive income and equity of the joint venture.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Turnover
Turnover arises from:
2024
2023
£
£
Rendering of services
14,403,053
11,776,935
-------------
-------------
The whole of the turnover is attributable to the principal activity of the group wholly undertaken in the United Kingdom.
5. Operating profit
Operating profit or loss is stated after charging/crediting:
2024
2023
£
£
Amortisation of intangible assets
( 1)
Depreciation of tangible assets
2,124
14,128
Gains on disposal of tangible assets
( 3,096)
Impairment of trade debtors
4,300
22,588
-------
--------
6. Auditor's remuneration
2024
2023
£
£
Fees payable for the audit of the financial statements
24,243
--------
----
7. Staff costs
The average number of persons employed by the group during the year, including the directors, amounted to:
2024
2023
No.
No.
Production staff
794
766
Administrative staff
37
37
----
----
831
803
----
----
The aggregate payroll costs incurred during the year, relating to the above, were:
2024
2023
£
£
Wages and salaries
10,151,633
8,064,853
Social security costs
528,308
405,138
Other pension costs
127,600
85,058
-------------
------------
10,807,541
8,555,049
-------------
------------
8. Directors' remuneration
The directors' aggregate remuneration in respect of qualifying services was:
2024
2023
£
£
Remuneration
696,262
252,052
Company contributions to defined contribution pension plans
5,500
1,200
---------
---------
701,762
253,252
---------
---------
The number of directors who accrued benefits under company pension plans was as follows:
2024
2023
No.
No.
Defined contribution plans
2
2
----
----
Remuneration of the highest paid director in respect of qualifying services:
2024
2023
£
£
Aggregate remuneration
215,975
120,079
---------
---------
9. Interest payable and similar expenses
2024
2023
£
£
Interest on obligations under finance leases and hire purchase contracts
2,712
747
-------
----
10. Tax on profit
Major components of tax expense
2024
2023
£
£
Current tax:
UK current tax expense
291,091
149,493
Adjustments in respect of prior periods
806
---------
---------
Total current tax
291,897
149,493
---------
---------
Deferred tax:
Origination and reversal of timing differences
1,593
( 1,989)
---------
---------
Tax on profit
293,490
147,504
---------
---------
Reconciliation of tax expense
The tax assessed on the profit on ordinary activities for the year is higher than (2023: lower than) the standard rate of corporation tax in the UK of 25 % (2023: 19 %).
2024
2023
£
£
Profit on ordinary activities before taxation
1,170,733
772,677
------------
---------
Profit on ordinary activities by rate of tax
292,684
184,809
Adjustment to tax charge in respect of prior periods
806
Effect of capital allowances and depreciation
( 1,593)
2,684
Effect of revenue exempt from tax
( 38,000)
Effect of deferred tax movements in the year
1,593
( 1,989)
------------
---------
Tax on profit
293,490
147,504
------------
---------
11. Intangible assets
Group
Negative Goodwill
£
Cost
At 1 April 2023
( 332,386)
Acquisitions through business combinations
( 1)
---------
At 31 March 2024
( 332,387)
---------
Amortisation
At 1 April 2023
( 332,386)
Charge for the year
( 1)
---------
At 31 March 2024
( 332,387)
---------
Carrying amount
At 31 March 2024
---------
At 31 March 2023
---------
The company has no intangible assets.
12. Tangible assets
Group
Land and buildings
Motor vehicles
Total
£
£
£
Cost
At 1 April 2023
503,040
503,040
Additions
( 381,698)
8,495
( 373,203)
Transfers
381,698
381,698
---------
-------
---------
At 31 March 2024
503,040
8,495
511,535
---------
-------
---------
Depreciation
At 1 April 2023
121,342
121,342
Charge for the year
2,124
2,124
---------
-------
---------
At 31 March 2024
121,342
2,124
123,466
---------
-------
---------
Carrying amount
At 31 March 2024
381,698
6,371
388,069
---------
-------
---------
At 31 March 2023
381,698
381,698
---------
-------
---------
Company
Land and buildings
£
Cost
At 1 April 2023
Transfers
381,698
---------
At 31 March 2024
381,698
---------
Depreciation
At 1 April 2023 and 31 March 2024
---------
Carrying amount
At 31 March 2024
381,698
---------
At 31 March 2023
---------
13. Investments
The group has no investments.
Company
Shares in group undertakings
£
Cost
At 1 April 2023 and 31 March 2024
1,548,128
------------
Impairment
At 1 April 2023 and 31 March 2024
------------
Carrying amount
At 1 April 2023 and 31 March 2024
1,548,128
------------
At 31 March 2023
1,548,128
------------
Subsidiaries, associates and other investments
Details of the investments in which the parent company has an interest of 20% or more are as follows:
Class of share
Percentage of shares held
Subsidiary undertakings
AIM Commercial Cleaning Limited
Ordinary
100
14. Stocks
Group
Company
2024
2023
2024
2023
£
£
£
£
Raw materials and consumables
12,032
13,805
--------
--------
----
----
15. Debtors
Group
Company
2024
2023
2024
2023
£
£
£
£
Trade debtors
2,758,759
2,499,219
Amounts owed by group undertakings
627,959
1,262,758
Prepayments and accrued income
77,287
41,612
------------
------------
---------
------------
2,836,046
2,540,831
627,959
1,262,758
------------
------------
---------
------------
16. Creditors: amounts falling due within one year
Group
Company
2024
2023
2024
2023
£
£
£
£
Trade creditors
287,266
407,336
Accruals and deferred income
577,599
390,140
10,448
3,400
Corporation tax
290,719
149,493
122,864
80,628
Social security and other taxes
901,892
690,786
Obligations under finance leases and hire purchase contracts
10,385
9,294
Other creditors
1,863,200
2,185,000
1,100,000
1,540,000
------------
------------
------------
------------
3,931,061
3,832,049
1,233,312
1,624,028
------------
------------
------------
------------
17. Creditors: amounts falling due after more than one year
Group
Company
2024
2023
2024
2023
£
£
£
£
Obligations under finance leases and hire purchase contracts
12,463
22,848
Other creditors
520,000
520,000
520,000
520,000
---------
---------
---------
---------
532,463
542,848
520,000
520,000
---------
---------
---------
---------
18. Finance leases and hire purchase contracts
The total future minimum lease payments under finance leases and hire purchase contracts are as follows:
Group
Company
2024
2023
2024
2023
£
£
£
£
Not later than 1 year
9,294
9,294
Later than 1 year and not later than 5 years
13,554
22,848
--------
--------
----
----
22,848
32,142
--------
--------
----
----
19. Provisions
Group
Deferred tax (note 20)
£
At 1 April 2023
Additions
1,593
-------
At 31 March 2024
1,593
-------
The company does not have any provisions.
20. Deferred tax
The deferred tax included in the statement of financial position is as follows:
Group
Company
2024
2023
2024
2023
£
£
£
£
Included in provisions (note 19)
1,593
-------
----
----
----
The deferred tax account consists of the tax effect of timing differences in respect of:
Group
Company
2024
2023
2024
2023
£
£
£
£
Accelerated capital allowances
1,593
-------
----
----
----
21. Employee benefits
Defined contribution plans
The amount recognised in profit or loss as an expense in relation to defined contribution plans was £ 122,100 (2023: £ 83,858 ).
22. Called up share capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
123,129
123,129
123,129
123,129
---------
---------
---------
---------
23. Analysis of changes in net debt
At 1 Apr 2023
Cash flows
At 31 Mar 2024
£
£
£
Cash at bank and in hand
2,949,454
631,074
3,580,528
Debt due within one year
(9,294)
(1,091)
(10,385)
Debt due after one year
(22,848)
10,385
(12,463)
------------
---------
------------
2,917,312
640,368
3,557,680
------------
---------
------------
24. Controlling party
The ultimate controlling party is Mr J Brown , a director.