Company Registration No. 00397289 (England and Wales)
A.E.M.T. LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
A.E.M.T. LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
A.E.M.T. LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
5
50,010
83,844
Tangible assets
4
3,948
1,628
53,958
85,472
Current assets
Debtors
6
160,513
175,864
Cash at bank and in hand
357,120
254,205
517,633
430,069
Creditors: amounts falling due within one year
7
(282,560)
(260,517)
Net current assets
235,073
169,552
Net assets
289,031
255,024
Reserves
Income and expenditure account
289,031
255,024
Total members' funds
289,031
255,024

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

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the income and expenditure account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 7 July 2025 and are signed on its behalf by:
J Stevens - President
Director
Company registration number 00397289 (England and Wales)
A.E.M.T. LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024
31 December 2024
- 2 -
1
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

2
Accounting policies
Company information

A.E.M.T. Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is Tower House, Tower House Business Centre, Fishergate, York, YO10 4UA.

2.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

2.2
Income and expenditure

Income and expenses are included in the financial statements as they become receivable or due. Transactions are shown net of VAT and trade discounts.

 

2.3
Research and development expenditure

Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.

 

Capitalised development expenditure is amortised on a straight line basis over 3 years.

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

KTP project
33.3% straight line
2.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

A.E.M.T. LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2
Accounting policies
(Continued)
- 3 -

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures, fittings & equipment
20% straight line
Computer equipment
33.3% straight line
Workshop equipment
20% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to surplus or deficit.

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

2.5
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2.6
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

2.7
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
4
4
A.E.M.T. LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 4 -
4
Tangible fixed assets
Fixtures, fittings & equipment
Computer equipment
Workshop equipment
Total
£
£
£
£
Cost
At 1 January 2024
110
39,476
31,704
71,290
Additions
167
3,336
-
0
3,503
At 31 December 2024
277
42,812
31,704
74,793
Depreciation and impairment
At 1 January 2024
17
37,941
31,704
69,662
Depreciation charged in the year
50
1,133
-
0
1,183
At 31 December 2024
67
39,074
31,704
70,845
Carrying amount
At 31 December 2024
210
3,738
-
0
3,948
At 31 December 2023
93
1,535
-
0
1,628
5
Intangible fixed assets
Regalia
Website development
KTP project
Total
£
£
£
£
Cost
At 1 January 2024
1
114,563
42,135
156,699
Additions
-
0
4,900
-
0
4,900
At 31 December 2024
1
119,463
42,135
161,599
Amortisation and impairment
At 1 January 2024
-
0
51,453
21,402
72,855
Amortisation charged for the year
-
0
24,689
14,045
38,734
At 31 December 2024
-
0
76,142
35,447
111,589
Carrying amount
At 31 December 2024
1
43,321
6,688
50,010
At 31 December 2023
1
63,110
20,733
83,844
A.E.M.T. LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 5 -
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
134,932
165,445
Prepayments and accrued income
25,581
10,419
160,513
175,864
7
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
6,944
5,182
Taxation and social security
41,938
38,155
Other creditors
233,678
217,180
282,560
260,517
8
Members' liability

The company is limited by guarantee, not having a share capital and consequently the liability of members is limited, subject to an undertaking by each member to contribute to the net assets or liabilities of the company on winding up such amounts as may be required not exceeding £1.

9
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
2023
£
£
2,820
8,460
10
Related party transactions

A relationship exists between certain committee members/directors and member companies.

 

Any transactions between these companies and the association are on an arm's length basis under normal market conditions.

 

Honorarium was paid to the President for the amount of £1,350 during the year.

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