| REGISTERED NUMBER: 09144636 (England and Wales) |
| Group Strategic Report, Report of the Director and |
| Consolidated Financial Statements for the Year Ended 31 December 2024 |
| for |
| AIM Solder (UK) Ltd |
| REGISTERED NUMBER: 09144636 (England and Wales) |
| Group Strategic Report, Report of the Director and |
| Consolidated Financial Statements for the Year Ended 31 December 2024 |
| for |
| AIM Solder (UK) Ltd |
| AIM Solder (UK) Ltd (Registered number: 09144636) |
| Contents of the Consolidated Financial Statements |
| for the Year Ended 31 December 2024 |
| Page |
| Company Information | 1 |
| Group Strategic Report | 2 |
| Report of the Director | 3 |
| Report of the Independent Auditors | 5 |
| Consolidated Income Statement | 9 |
| Consolidated Other Comprehensive Income | 10 |
| Consolidated Balance Sheet | 11 |
| Company Balance Sheet | 12 |
| Consolidated Statement of Changes in Equity | 13 |
| Company Statement of Changes in Equity | 14 |
| Consolidated Cash Flow Statement | 15 |
| Notes to the Consolidated Cash Flow Statement | 16 |
| Notes to the Consolidated Financial Statements | 17 |
| AIM Solder (UK) Ltd |
| Company Information |
| for the Year Ended 31 December 2024 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| AUDITORS: |
| Chartered Accountants |
| Statutory Auditor |
| Brigham House |
| High Street |
| Biggleswade |
| Bedfordshire |
| SG18 0LD |
| AIM Solder (UK) Ltd (Registered number: 09144636) |
| Group Strategic Report |
| for the Year Ended 31 December 2024 |
| The director presents his strategic report of the company and the group for the year ended 31 December 2024. |
| REVIEW OF BUSINESS |
| AIM Solder UK is a solder manufacturing company specialized on the industrial market. The main products include solder wire, bar and fluxes which are manufactured from alloys including Tin and Lead. |
| The Turnover for the year was £17,713,663 (£17,710,627 2023). The Gross Profit was £3,631,754 (£2,756,864 2023) |
| The Company employed 26 people in year. |
| PRINCIPAL RISKS AND UNCERTAINTIES |
| The principal risks facing the company in its normal activities were credit risk, commodity price risk and a competitive commodity market. |
| Credit risk was mitigated by the company policy to ensure that credit checks are done on all new customers before credit is granted and these limits are reviewed on a regular basis. We operate on a proforma basis unless credit limits are agreed,. Credit insurance is in place where necessary. |
| Hedging was used to cover commodity price risk where appropriate. |
| Risks from the competitive commodity market were offset by the efforts in increasing sales volume and stabilizing inventory values. |
| Other Risks |
| The group has various IT systems and applications, the failure of which could cause serious disruption to the business. The IT strategy is to ensure long term stability of these systems, data security and mitigating the increasing risk of cyber security threats to our operations. |
| The business recognises that it is essential that the business responds appropriately to the economic challenges that the world is facing. The combination of inflationary pressures and uncertainty in the global market is challenging but the group monitors key business KPI's to ensure that these pressures are not unduly impacting business performance and are satisfied that the right measures are being taken to mitigate these challenges. |
| FINANCIAL KEY PERFORMANCE INDICATORS |
| The key financial performance indicators are turnover and gross profit. |
| DEVELOPMENT AND PERFORMANCE |
| The commodity market has been the major factor affecting 2024 results and future performance is expected to improve as the market stabilizes and internal growth continues its trend. |
| ON BEHALF OF THE BOARD: |
| 9 June 2025 |
| AIM Solder (UK) Ltd (Registered number: 09144636) |
| Report of the Director |
| for the Year Ended 31 December 2024 |
| The director presents his report with the financial statements of the company and the group for the year ended 31 December 2024. |
| DIVIDENDS |
| No dividends will be distributed for the year ended 31 December 2024. |
| FUTURE DEVELOPMENTS |
| AIM Group understands the rapidly evolving market and invests in an aggressive R&D program staffed with process engineers, metallurgists and chemists. This ensures that we provided cutting-edge solutions to meet the manufacturing challenges of tomorrow. AIM Group is strongly committed to innovative research and development of product and process improvement as well as providing customers with superior technical support, service, and training. |
| AIM listens to the needs of its customers and responds in a manner that meets or exceeds their expectations. |
| EVENTS SINCE THE END OF THE YEAR |
| Information relating to events since the end of the year is given in the notes to the financial statements. |
| DIRECTOR |
| STATEMENT OF DIRECTOR'S RESPONSIBILITIES |
| The director is responsible for preparing the Group Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations. |
| Company law requires the director to prepare financial statements for each financial year. Under that law the director has 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 director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the director is required to: |
| - | select suitable accounting policies and then apply them consistently; |
| - | make judgements 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 director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
| STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS |
| So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the group's auditors are aware of that information. |
| AIM Solder (UK) Ltd (Registered number: 09144636) |
| Report of the Director |
| for the Year Ended 31 December 2024 |
| AUDITORS |
| The auditors, George Hay Partnership LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting. |
| ON BEHALF OF THE BOARD: |
| Report of the Independent Auditors to the Members of |
| AIM Solder (UK) Ltd |
| Opinion |
| We have audited the financial statements of AIM Solder (UK) Ltd (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 December 2024 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, 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 Financial Reporting Standard 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 affairs as at 31 December 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; and |
| - | 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 Auditors' 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 director's 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 and 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 director with respect to going concern are described in the relevant sections of this report. |
| Other information |
| The director is responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Director, but does not include the financial statements and our Report of the Auditors thereon. |
| 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 this gives rise to a material misstatement in the financial statements themselves. 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 Group Strategic Report and the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
| - | the Group Strategic Report and the Report of the Director have been prepared in accordance with applicable legal requirements. |
| Report of the Independent Auditors to the Members of |
| AIM Solder (UK) Ltd |
| 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 Group Strategic Report or the Report of the Director. |
| We have nothing to report in respect of the following matters where 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 director's remuneration specified by law are not made; or |
| - | we have not received all the information and explanations we require for our audit. |
| Responsibilities of director |
| As explained more fully in the Statement of Director's Responsibilities set out on page three, the director is 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 director determines 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 director is 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 director either intends to liquidate the group or the parent company or to cease operations, or has no realistic alternative but to do so. |
| Report of the Independent Auditors to the Members of |
| AIM Solder (UK) Ltd |
| Auditors' 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 a Report of the Auditors 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. |
| The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: |
| In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non compliance with laws and regulations, we considered the following: |
| 1. The nature of the industry and sector, control environment and business performance |
| 2. Key drivers for the remuneration policies of Key employee's remuneration, bonus levels and performance targets |
| 3. Enquiries with management about their own identification and assessment of the risks of irregularities. |
| 4. The matters discussed among the audit team regarding how and where fraud might occur and fraud indicators. |
| As a result of these procedures, we identified the greatest potential for fraud in terms of misstatements in the financial statements was in relation to the valuation of Stock and the calculation and inclusion of year end provisions. In common with all audits under ISA's (UK), we are also required to perform specific procedures to respond to the risk of management override. The assessment of the risk of fraud in terms of misappropriation of assets highlighted fraudulent payments as a focus area. |
| In addition we considered the legal and regulatory framework that the company operates in, focusing on provisions of these law and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. Key laws considered include the UK Companies Act and UK Tax Legislation. |
| Audit response to risks identified: |
| The valuation of Stock is tested by substantive and analytical procedures including a physical inspection of the site at the balance sheet date. |
| The calculation of provisions was also tested using a substantive approach with an emphasis on completeness. |
| Standard procedures were pursued to test management override including the review of year end journals and whether the judgments made in making accounting estimates are indicative of potential bias. |
| To cover the assessed risks in relation to fraudulent payments, we ensure that transactions are conducted in line with the company's authority matrix, together with a review of expenses in the profit and loss to ensure that they are genuine business expenses. We also perform analytical procedures to identify any unusual or unexpected relationship that may indicate risks of material misstatement due to fraud. |
| We remained alert to any indications of fraud or non compliance throughout the entire audit process. |
| A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors. |
| Report of the Independent Auditors to the Members of |
| AIM Solder (UK) Ltd |
| 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 a Report of the Auditors 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. |
| for and on behalf of |
| Chartered Accountants |
| Statutory Auditor |
| Brigham House |
| High Street |
| Biggleswade |
| Bedfordshire |
| SG18 0LD |
| AIM Solder (UK) Ltd (Registered number: 09144636) |
| Consolidated |
| Income Statement |
| for the Year Ended 31 December 2024 |
| 2024 | 2023 |
| Notes | £ | £ |
| TURNOVER | 4 | 17,713,663 | 17,710,627 |
| Cost of sales | 14,081,909 | 14,953,753 |
| GROSS PROFIT | 3,631,754 | 2,756,874 |
| Administrative expenses | 2,012,963 | 1,999,053 |
| OPERATING PROFIT | 6 | 1,618,791 | 757,821 |
| Interest receivable and similar income | 6,989 | 14,082 |
| 1,625,780 | 771,903 |
| Interest payable and similar expenses | 8 | 53,738 | 113,768 |
| PROFIT BEFORE TAXATION | 1,572,042 | 658,135 |
| Tax on profit | 9 | 461,586 | 208,975 |
| PROFIT FOR THE FINANCIAL YEAR |
| Profit attributable to: |
| Owners of the parent | 1,110,456 | 449,160 |
| AIM Solder (UK) Ltd (Registered number: 09144636) |
| Consolidated |
| Other Comprehensive Income |
| for the Year Ended 31 December 2024 |
| 2024 | 2023 |
| Notes | £ | £ |
| PROFIT FOR THE YEAR | 1,110,456 | 449,160 |
| OTHER COMPREHENSIVE INCOME | - | - |
| TOTAL COMPREHENSIVE INCOME FOR THE YEAR |
1,110,456 |
449,160 |
| Total comprehensive income attributable to: |
| Owners of the parent | 1,110,456 | 449,160 |
| AIM Solder (UK) Ltd (Registered number: 09144636) |
| Consolidated Balance Sheet |
| 31 December 2024 |
| 2024 | 2023 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 11 | 1,644,268 | 2,004,296 |
| Tangible assets | 12 | 236,062 | 223,138 |
| Investments | 13 | - | - |
| 1,880,330 | 2,227,434 |
| CURRENT ASSETS |
| Stocks | 14 | 3,218,963 | 3,312,799 |
| Debtors | 15 | 3,945,626 | 4,217,927 |
| Cash at bank and in hand | 199,151 | 486,695 |
| 7,363,740 | 8,017,421 |
| CREDITORS |
| Amounts falling due within one year | 16 | 1,559,004 | 3,675,409 |
| NET CURRENT ASSETS | 5,804,736 | 4,342,012 |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
7,685,066 |
6,569,446 |
| PROVISIONS FOR LIABILITIES | 18 | 44,483 | 39,319 |
| NET ASSETS | 7,640,583 | 6,530,127 |
| CAPITAL AND RESERVES |
| Called up share capital | 19 | 5,538,086 | 5,538,086 |
| Retained earnings | 20 | 2,102,497 | 992,041 |
| SHAREHOLDERS' FUNDS | 7,640,583 | 6,530,127 |
| The financial statements were approved by the director and authorised for issue on 9 June 2025 and were signed by: |
| Mr R Black - Director |
| AIM Solder (UK) Ltd (Registered number: 09144636) |
| Company Balance Sheet |
| 31 December 2024 |
| 2024 | 2023 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 11 |
| Tangible assets | 12 |
| Investments | 13 |
| CURRENT ASSETS |
| Stocks | 14 |
| Debtors | 15 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 16 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES | 18 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 19 |
| Retained earnings | 20 | ( |
) |
| SHAREHOLDERS' FUNDS |
| Company's profit/(loss) for the financial year |
759,340 |
(202,350 |
) |
| The financial statements were approved by the director and authorised for issue on |
| AIM Solder (UK) Ltd (Registered number: 09144636) |
| Consolidated Statement of Changes in Equity |
| for the Year Ended 31 December 2024 |
| Called up |
| share | Retained | Total |
| capital | earnings | equity |
| £ | £ | £ |
| Balance at 1 January 2023 | 5,538,086 | 542,881 | 6,080,967 |
| Changes in equity |
| Total comprehensive income | - | 449,160 | 449,160 |
| Balance at 31 December 2023 | 5,538,086 | 992,041 | 6,530,127 |
| Changes in equity |
| Total comprehensive income | - | 1,110,456 | 1,110,456 |
| Balance at 31 December 2024 | 5,538,086 | 2,102,497 | 7,640,583 |
| AIM Solder (UK) Ltd (Registered number: 09144636) |
| Company Statement of Changes in Equity |
| for the Year Ended 31 December 2024 |
| Called up |
| share | Retained | Total |
| capital | earnings | equity |
| £ | £ | £ |
| Balance at 1 January 2023 | ( |
) |
| Changes in equity |
| Deficit for the year | - | (202,350 | ) | (202,350 | ) |
| Total comprehensive income | - | ( |
) | ( |
) |
| Balance at 31 December 2023 | ( |
) |
| Changes in equity |
| Profit for the year | - | 759,340 | 759,340 |
| Total comprehensive income | - |
| Balance at 31 December 2024 |
| AIM Solder (UK) Ltd (Registered number: 09144636) |
| Consolidated Cash Flow Statement |
| for the Year Ended 31 December 2024 |
| 2024 | 2023 |
| Notes | £ | £ |
| Cash flows from operating activities |
| Cash generated from operations | 1 | 3,879,455 | 738,381 |
| Interest paid | (53,738 | ) | (113,670 | ) |
| Interest element of hire purchase or finance lease rental payments paid |
- |
(98 |
) |
| Tax paid | (313,568 | ) | (337,018 | ) |
| Taxation refund | - | 226,917 |
| Net cash from operating activities | 3,512,149 | 514,512 |
| Cash flows from investing activities |
| Purchase of intangible fixed assets | - | (444,159 | ) |
| Purchase of tangible fixed assets | (72,889 | ) | (45,159 | ) |
| Sale of tangible fixed assets | 3,333 | - |
| Interest received | 6,989 | 14,082 |
| Net cash from investing activities | (62,567 | ) | (475,236 | ) |
| Cash flows from financing activities |
| Capital repayments in year | - | (2,526 | ) |
| Repaid to group | (3,737,126 | ) | (199,275 | ) |
| Net cash from financing activities | (3,737,126 | ) | (201,801 | ) |
| Decrease in cash and cash equivalents | (287,544 | ) | (162,525 | ) |
| Cash and cash equivalents at beginning of year |
2 |
486,695 |
649,220 |
| Cash and cash equivalents at end of year |
2 |
199,151 |
486,695 |
| AIM Solder (UK) Ltd (Registered number: 09144636) |
| Notes to the Consolidated Cash Flow Statement |
| for the Year Ended 31 December 2024 |
| 1. | RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS |
| 2024 | 2023 |
| £ | £ |
| Profit before taxation | 1,572,042 | 658,135 |
| Depreciation charges | 418,775 | 375,404 |
| Profit on disposal of fixed assets | (2,115 | ) | - |
| Finance costs | 53,738 | 113,768 |
| Finance income | (6,989 | ) | (14,082 | ) |
| 2,035,451 | 1,133,225 |
| Decrease in stocks | 93,836 | 1,417,059 |
| Decrease/(increase) in trade and other debtors | 1,333,275 | (925,480 | ) |
| Increase/(decrease) in trade and other creditors | 416,893 | (886,423 | ) |
| Cash generated from operations | 3,879,455 | 738,381 |
| 2. | CASH AND CASH EQUIVALENTS |
| The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts: |
| Year ended 31 December 2024 |
| 31.12.24 | 1.1.24 |
| £ | £ |
| Cash and cash equivalents | 199,151 | 486,695 |
| Year ended 31 December 2023 |
| 31.12.23 | 1.1.23 |
| £ | £ |
| Cash and cash equivalents | 486,695 | 649,220 |
| 3. | ANALYSIS OF CHANGES IN NET FUNDS |
| At 1.1.24 | Cash flow | At 31.12.24 |
| £ | £ | £ |
| Net cash |
| Cash at bank and in hand | 486,695 | (287,544 | ) | 199,151 |
| 486,695 | (287,544 | ) | 199,151 |
| Total | 486,695 | (287,544 | ) | 199,151 |
| AIM Solder (UK) Ltd (Registered number: 09144636) |
| Notes to the Consolidated Financial Statements |
| for the Year Ended 31 December 2024 |
| 1. | STATUTORY INFORMATION |
| AIM Solder (UK) Ltd is a |
| 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" and the Companies Act 2006. |
| 3. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Revenue from the sale of goods is recognised when the goods are delivered and legal title is passed. |
| Goodwill |
| Further goodwill acquired in 2015 and 2016, is carried at cost less accumulated amortisation and is being amortised evenly over its estimated useful life of 10 years. |
| Goodwill on consolidation was acquired in December 2021 and has been amortised over its estimated useful life of 10 years. |
| Intangible assets |
| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
| Tangible fixed assets |
| Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. |
| Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows: |
| Freehold Property 2% on cost |
| Plant and machinery etc. 20% on cost,15% on reducing balance and over length of lease. |
| Motor vehicles 25% on reducing balance. |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| AIM Solder (UK) Ltd (Registered number: 09144636) |
| Notes to the Consolidated Financial Statements - continued |
| for the Year Ended 31 December 2024 |
| 3. | ACCOUNTING POLICIES - continued |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated 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. |
| 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. |
| Foreign currencies |
| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
| Hire purchase and leasing commitments |
| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
| The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
| 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 group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate. |
| Financial instruments |
| Loans with the group are repayable on demand and therefore measured at cost with no adjustment made to discount future cash flows. |
| Debtors and creditors receivable/payable within one year. |
| Debtors and creditors with no stated interest rate and receivable or payable within in one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. |
| Government grants |
| Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received using the accrual mode |
| AIM Solder (UK) Ltd (Registered number: 09144636) |
| Notes to the Consolidated Financial Statements - continued |
| for the Year Ended 31 December 2024 |
| 4. | TURNOVER |
| The turnover and profit before taxation are attributable to the one principal activity of the group. |
| An analysis of turnover by geographical market is given below: |
| 2024 | 2023 |
| £ | £ |
| United Kingdom | 16,145,121 | 16,362,138 |
| Europe | 1,402,687 | 1,241,392 |
| United States of America | 35,869 | 12,989 |
| Hong Kong | 45,424 | 41,522 |
| Other Asia | 22,237 | 7,647 |
| Other | 3,698 | 4,498 |
| Africa | 56,988 | 17,557 |
| Group | 1,639 | 22,884 |
| 17,713,663 | 17,710,627 |
| 5. | EMPLOYEES AND DIRECTORS |
| 2024 | 2023 |
| £ | £ |
| Wages and salaries | 1,354,591 | 1,313,508 |
| Social security costs | 179,244 | 167,238 |
| Other pension costs | 42,247 | 40,234 |
| 1,576,082 | 1,520,980 |
| The average number of employees during the year was as follows: |
| 2024 | 2023 |
| Direct and Engineering | 10 | 10 |
| Sales and Administration | 16 | 16 |
| The average number of employees by undertakings that were proportionately consolidated during the year was 26 (2023 - 26 ) . |
| 2024 | 2023 |
| £ | £ |
| Director's remuneration | - | - |
| AIM Solder (UK) Ltd (Registered number: 09144636) |
| Notes to the Consolidated Financial Statements - continued |
| for the Year Ended 31 December 2024 |
| 6. | OPERATING PROFIT |
| The operating profit is stated after charging/(crediting): |
| 2024 | 2023 |
| £ | £ |
| Other operating leases | 170,331 | 174,652 |
| Depreciation - owned assets | 58,747 | 48,678 |
| Profit on disposal of fixed assets | (2,115 | ) | - |
| Goodwill amortisation | 286,328 | 301,578 |
| Customer lists amortisation | 63,451 | 15,863 |
| Computer software amortisation | 10,249 | 9,285 |
| Foreign exchange differences | (1,615 | ) | 69,039 |
| 7. | AUDITORS' REMUNERATION |
| Auditors Remuneration for the year was £21,700 (£20,000) |
| 8. | INTEREST PAYABLE AND SIMILAR EXPENSES |
| 2024 | 2023 |
| £ | £ |
| Bank interest | 3,682 | - |
| Interest on group loan | 50,056 | 113,670 |
| Hire purchase | - | 98 |
| 53,738 | 113,768 |
| 9. | TAXATION |
| Analysis of the tax charge |
| The tax charge on the profit for the year was as follows: |
| 2024 | 2023 |
| £ | £ |
| Current tax: |
| UK corporation tax | 456,422 | 204,007 |
| Deferred tax | 5,164 | 4,968 |
| Tax on profit | 461,586 | 208,975 |
| UK corporation tax has been charged at 25 % (2023 - 23.52 %). |
| AIM Solder (UK) Ltd (Registered number: 09144636) |
| Notes to the Consolidated Financial Statements - continued |
| for the Year Ended 31 December 2024 |
| 9. | TAXATION - continued |
| Reconciliation of total tax charge included in profit and loss |
| The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below: |
| 2024 | 2023 |
| £ | £ |
| Profit before tax | 1,572,042 | 658,135 |
| Profit multiplied by the standard rate of corporation tax in the UK of 25 % (2023 - 23.520 %) |
393,011 |
154,793 |
| Effects of: |
| Expenses not deductible for tax purposes | 69,736 | 54,419 |
| Utilisation of tax losses | (1,161 | ) | (3,312 | ) |
| Adjustment to deferred tax in respect of change in tax rates | - | 3,075 |
| Total tax charge | 461,586 | 208,975 |
| 10. | INDIVIDUAL INCOME STATEMENT |
| As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements. |
| 11. | INTANGIBLE FIXED ASSETS |
| Group |
| Customer | Computer |
| Goodwill | lists | software | Totals |
| £ | £ | £ | £ |
| COST |
| At 1 January 2024 |
| and 31 December 2024 | 3,015,780 | 444,159 | 71,741 | 3,531,680 |
| AMORTISATION |
| At 1 January 2024 | 1,494,572 | 15,863 | 16,949 | 1,527,384 |
| Amortisation for year | 286,328 | 63,451 | 10,249 | 360,028 |
| At 31 December 2024 | 1,780,900 | 79,314 | 27,198 | 1,887,412 |
| NET BOOK VALUE |
| At 31 December 2024 | 1,234,880 | 364,845 | 44,543 | 1,644,268 |
| At 31 December 2023 | 1,521,208 | 428,296 | 54,792 | 2,004,296 |
| AIM Solder (UK) Ltd (Registered number: 09144636) |
| Notes to the Consolidated Financial Statements - continued |
| for the Year Ended 31 December 2024 |
| 11. | INTANGIBLE FIXED ASSETS - continued |
| Company |
| Customer | Computer |
| Goodwill | lists | software | Totals |
| £ | £ | £ | £ |
| COST |
| At 1 January 2024 |
| and 31 December 2024 |
| AMORTISATION |
| At 1 January 2024 |
| Amortisation for year |
| At 31 December 2024 |
| NET BOOK VALUE |
| At 31 December 2024 |
| At 31 December 2023 |
| 12. | TANGIBLE FIXED ASSETS |
| Group |
| Improvements | Fixtures |
| to | Plant and | and |
| property | machinery | fittings |
| £ | £ | £ |
| COST |
| At 1 January 2024 | 115,312 | 534,846 | 125,380 |
| Additions | - | 37,906 | 2,170 |
| Disposals | - | - | - |
| At 31 December 2024 | 115,312 | 572,752 | 127,550 |
| DEPRECIATION |
| At 1 January 2024 | 77,676 | 364,307 | 111,747 |
| Charge for year | 13,207 | 26,900 | 11,510 |
| Eliminated on disposal | - | - | - |
| At 31 December 2024 | 90,883 | 391,207 | 123,257 |
| NET BOOK VALUE |
| At 31 December 2024 | 24,429 | 181,545 | 4,293 |
| At 31 December 2023 | 37,636 | 170,539 | 13,633 |
| AIM Solder (UK) Ltd (Registered number: 09144636) |
| Notes to the Consolidated Financial Statements - continued |
| for the Year Ended 31 December 2024 |
| 12. | TANGIBLE FIXED ASSETS - continued |
| Group |
| Motor | Computer |
| vehicles | equipment | Totals |
| £ | £ | £ |
| COST |
| At 1 January 2024 | 17,692 | 702 | 793,932 |
| Additions | 24,735 | 8,078 | 72,889 |
| Disposals | (17,692 | ) | - | (17,692 | ) |
| At 31 December 2024 | 24,735 | 8,780 | 849,129 |
| DEPRECIATION |
| At 1 January 2024 | 16,364 | 700 | 570,794 |
| Charge for year | 5,779 | 1,351 | 58,747 |
| Eliminated on disposal | (16,474 | ) | - | (16,474 | ) |
| At 31 December 2024 | 5,669 | 2,051 | 613,067 |
| NET BOOK VALUE |
| At 31 December 2024 | 19,066 | 6,729 | 236,062 |
| At 31 December 2023 | 1,328 | 2 | 223,138 |
| Company |
| Improvements | Fixtures |
| to | Plant and | and | Computer |
| property | machinery | fittings | equipment | Totals |
| £ | £ | £ | £ | £ |
| COST |
| At 1 January 2024 |
| Additions |
| At 31 December 2024 |
| DEPRECIATION |
| At 1 January 2024 |
| Charge for year |
| At 31 December 2024 |
| NET BOOK VALUE |
| At 31 December 2024 |
| At 31 December 2023 |
| AIM Solder (UK) Ltd (Registered number: 09144636) |
| Notes to the Consolidated Financial Statements - continued |
| for the Year Ended 31 December 2024 |
| 13. | FIXED ASSET INVESTMENTS |
| Company |
| Shares in |
| group |
| undertakings |
| £ |
| COST |
| At 1 January 2024 |
| and 31 December 2024 |
| NET BOOK VALUE |
| At 31 December 2024 |
| At 31 December 2023 |
| The group or the company's investments at the Balance Sheet date in the share capital of companies include the following: |
| Subsidiary |
| Registered office: Eldo House, Suffolk Business Park, Bury St Edmonds, Suffolk IP32 7AR |
| Nature of business: |
| % |
| Class of shares: | holding |
| 2024 | 2023 |
| £ | £ |
| Aggregate capital and reserves |
| Profit for the year |
| The company holds 100 £1 ordinary shares in its subsidiary. |
| 14. | STOCKS |
| Group | Company |
| 2024 | 2023 | 2024 | 2023 |
| £ | £ | £ | £ |
| Stocks | 3,218,963 | 3,312,799 |
| 15. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| Group | Company |
| 2024 | 2023 | 2024 | 2023 |
| £ | £ | £ | £ |
| Trade debtors | 2,255,951 | 3,232,280 |
| Amounts owed by group undertakings | 1,060,974 | - |
| Sundry Debtors and Prepayments | 628,701 | 985,647 | 574,837 | 927,946 |
| 3,945,626 | 4,217,927 |
| AIM Solder (UK) Ltd (Registered number: 09144636) |
| Notes to the Consolidated Financial Statements - continued |
| for the Year Ended 31 December 2024 |
| 16. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| Group | Company |
| 2024 | 2023 | 2024 | 2023 |
| £ | £ | £ | £ |
| Trade creditors | 547,274 | 409,146 |
| Amounts owed to group undertakings | 89,683 | 2,765,835 |
| Tax | 196,079 | 53,225 |
| Social security and other taxes | 89,476 | 88,015 |
| VAT | 431,608 | 195,345 | 360,871 | 106,569 |
| Sundry Creditors and Accruals | 204,884 | 163,843 | 98,491 | 87,628 |
| 1,559,004 | 3,675,409 |
| 17. | LEASING AGREEMENTS |
| Minimum lease payments fall due as follows: |
| Group |
| Non-cancellable | operating leases |
| 2024 | 2023 |
| £ | £ |
| Within one year | 112,244 | 107,705 |
| Between one and five years | 95,122 | 12,790 |
| 207,366 | 120,495 |
| Company |
| Non-cancellable | operating leases |
| 2024 | 2023 |
| £ | £ |
| Within one year |
| Between one and five years |
| 18. | PROVISIONS FOR LIABILITIES |
| Group | Company |
| 2024 | 2023 | 2024 | 2023 |
| £ | £ | £ | £ |
| Deferred tax | 44,483 | 39,319 | 19,519 | 17,561 |
| Group |
| Deferred |
| tax |
| £ |
| Balance at 1 January 2024 | 39,319 |
| Provided during year | 5,164 |
| Balance at 31 December 2024 | 44,483 |
| AIM Solder (UK) Ltd (Registered number: 09144636) |
| Notes to the Consolidated Financial Statements - continued |
| for the Year Ended 31 December 2024 |
| 18. | PROVISIONS FOR LIABILITIES - continued |
| Company |
| Deferred |
| tax |
| £ |
| Balance at 1 January 2024 |
| Provided during year |
| Balance at 31 December 2024 |
| 19. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2024 | 2023 |
| value: | £ | £ |
| Ordinary | £1 | 5,538,086 | 5,538,086 |
| 20. | RESERVES |
| Group |
| Retained |
| earnings |
| £ |
| At 1 January 2024 | 992,041 |
| Profit for the year | 1,110,456 |
| At 31 December 2024 | 2,102,497 |
| Company |
| Retained |
| earnings |
| £ |
| At 1 January 2024 | ( |
) |
| Profit for the year |
| At 31 December 2024 |
| 21. | PENSION COMMITMENTS |
| The company operates a defined contribution pension scheme. The charge to the profit and loss in the year was £42,247 (£40,234 2023) |
| 22. | OTHER FINANCIAL COMMITMENTS |
| There is a fixed and floating charge over the assets of the company. |
| AIM Solder (UK) Ltd (Registered number: 09144636) |
| Notes to the Consolidated Financial Statements - continued |
| for the Year Ended 31 December 2024 |
| 23. | POST BALANCE SHEET EVENTS |
| On 24 March 2025 the company purchased 51% Investment in an Indian company. The company is a manufacturer of Electronic Solder. |
| The Investment was purchased for $8million US Dollars and was financed by a loan from AIM Metals and Alloys LP. |
| 24. | ULTIMATE CONTROLLING PARTY |
| Group financial statements, in which the company's financial results are included, are prepared by its parent company: |
| AIM Metals & Alloys Inc. |
| 9100 Boul Henri-Bourassa East |
| Montreal |
| Quebec |
| Canada |
| H1E 2S4 |
| AIM Metals & Alloys Inc. is incorporated in Canada. |