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REGISTERED NUMBER: 05221399 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 September 2024

for

Advanced Fuel Systems Limited

Advanced Fuel Systems Limited (Registered number: 05221399)

Contents of the Financial Statements
for the Year Ended 30 September 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Advanced Fuel Systems Limited

Company Information
for the Year Ended 30 September 2024







DIRECTOR: Mr J M Tubb





REGISTERED OFFICE: Lewis House
Great Chesterford Court
Great Chesterford
Essex
CB10 1PF





REGISTERED NUMBER: 05221399 (England and Wales)

Advanced Fuel Systems Limited (Registered number: 05221399)

Balance Sheet
30 September 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 5 - -
Tangible assets 6 20,983 13,285
20,983 13,285

CURRENT ASSETS
Stocks 61,485 74,762
Debtors 7 52,831 86,061
Cash at bank 323,338 249,973
437,654 410,796
CREDITORS
Amounts falling due within one year 8 121,802 143,588
NET CURRENT ASSETS 315,852 267,208
TOTAL ASSETS LESS CURRENT
LIABILITIES

336,835

280,493

PROVISIONS FOR LIABILITIES 4,314 2,922
NET ASSETS 332,521 277,571

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 332,519 277,569
332,521 277,571

Advanced Fuel Systems Limited (Registered number: 05221399)

Balance Sheet - continued
30 September 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The 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.

The financial statements were approved by the director and authorised for issue on 19 May 2025 and were signed by:





Mr J M Tubb - Director


Advanced Fuel Systems Limited (Registered number: 05221399)

Notes to the Financial Statements
for the Year Ended 30 September 2024


1. STATUTORY INFORMATION

Advanced Fuel Systems Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2008, has been amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instruments.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes, in effect, a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

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.


Advanced Fuel Systems Limited (Registered number: 05221399)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024


3. ACCOUNTING POLICIES - continued
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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 4 ) .

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 October 2023
and 30 September 2024 6,750
AMORTISATION
At 1 October 2023
and 30 September 2024 6,750
NET BOOK VALUE
At 30 September 2024 -
At 30 September 2023 -

Advanced Fuel Systems Limited (Registered number: 05221399)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024


6. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 October 2023 117,021
Additions 14,701
At 30 September 2024 131,722
DEPRECIATION
At 1 October 2023 103,736
Charge for year 7,003
At 30 September 2024 110,739
NET BOOK VALUE
At 30 September 2024 20,983
At 30 September 2023 13,285

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 46,547 79,992
Other debtors 6,284 6,069
52,831 86,061

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 5,134 1,586
Taxation and social security 33,149 43,097
Other creditors 83,519 98,905
121,802 143,588

Other creditors includes accrued expenses of £2,178 (2023 - £7,941), directors' loan accounts of £70,702 (2023 - £83,353) and other creditors of £10,639 (2023 - £7,611).