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AUK Supplies Limited

Annual Report and Unaudited Financial Statements
Year Ended 31 December 2024

Registration number: 05111595

 

AUK Supplies Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 10

 

AUK Supplies Limited

Balance Sheet

31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

448,635

514,321

Tangible assets

5

1,304,433

1,318,871

 

1,753,068

1,833,192

Current assets

 

Stocks

1,347,427

1,136,158

Debtors

6

1,157,336

1,449,807

Cash at bank and in hand

 

522,304

25,343

 

3,027,067

2,611,308

Creditors: Amounts falling due within one year

7

(1,461,412)

(1,134,560)

Net current assets

 

1,565,655

1,476,748

Total assets less current liabilities

 

3,318,723

3,309,940

Creditors: Amounts falling due after more than one year

7

(553,798)

(723,162)

Provisions for liabilities

(231,864)

(232,126)

Net assets

 

2,533,061

2,354,652

Capital and reserves

 

Called up share capital

11

102

102

Profit and loss account

2,532,959

2,354,550

Shareholders' funds

 

2,533,061

2,354,652

 

AUK Supplies Limited

Balance Sheet

31 December 2024

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

Directors' responsibilities:

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

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 7 August 2025 and signed on its behalf by:
 

.........................................
Mr M S Besley
Director

Company Registration Number: 05111595

 

AUK Supplies Limited

Notes to the Unaudited Financial Statements

Year Ended 31 December 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
7 Cavalier Road
Heathfield
Newton Abbot
Devon
TQ12 6TQ

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', including Section 1A, and the Companies Act 2006.

There are no material departures from FRS 102.

Basis of preparation

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

The functional and presentational currency is pounds sterling.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

20/10 years straight line

Tangible assets

All fixed assets are initially recorded at cost. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Foreign currency

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 the transaction. Exchange differences are taken into account in arriving at the operating profit.

 

AUK Supplies Limited

Notes to the Unaudited Financial Statements

Year Ended 31 December 2024

Leases

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed assets at their fair value. The capital element of the future payments is treated as a liability and interest is charged to the profit and loss account on a straight line basis.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior period.

Contributions to defined contribution plans are recognised as an employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

AUK Supplies Limited

Notes to the Unaudited Financial Statements

Year Ended 31 December 2024

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors;
• Hire purchase and finance lease contracts; and
• Cash and bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.


 

Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax.

Goodwill

Positive goodwill is capitalised, classified as an asset on the balance sheet and amortised on a straight line basis over its useful economic life. It is reviewed for impairment at the end of the first full financial year following the acquisition, and in other periods if events or changes in circumstances indicate that the carrying value may not be recoverable.

Stocks

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class

Depreciation method and rate

Leasehold land and buildings

over 10 year lease term

Plant and machinery

15% reducing balance

Fixtures and fittings

15% reducing balance/25% straight line

Motor vehicles

25% reducing balance

 

AUK Supplies Limited

Notes to the Unaudited Financial Statements

Year Ended 31 December 2024

Tax

Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised on all timing differences at the balance sheet date unless indicated below. Timing differences are differences between taxable profits and the results as stated in the profit and loss account and other comprehensive income.

Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 50 (2023 - 44).

4

Intangible assets

Goodwill
 £

Cost or valuation

At 1 January 2024

1,819,365

At 31 December 2024

1,819,365

Amortisation

At 1 January 2024

1,305,044

Amortisation charge

65,686

At 31 December 2024

1,370,730

Carrying amount

At 31 December 2024

448,635

At 31 December 2023

514,321

 

AUK Supplies Limited

Notes to the Unaudited Financial Statements

Year Ended 31 December 2024

5

Tangible assets

Leasehold land and buildings
£

Plant and machinery
£

Fixtures and fittings
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2024

312,352

514,516

477,907

402,638

1,707,413

Additions

16,060

120,269

46,188

71,000

253,517

Disposals

-

(16,576)

(40,422)

(25,428)

(82,426)

At 31 December 2024

328,412

618,209

483,673

448,210

1,878,504

Depreciation

At 1 January 2024

23,426

110,664

139,656

114,796

388,542

Charge for the year

32,723

67,176

60,190

86,619

246,708

Eliminated on disposal

-

(13,833)

(29,670)

(17,676)

(61,179)

At 31 December 2024

56,149

164,007

170,176

183,739

574,071

Carrying amount

At 31 December 2024

272,263

454,202

313,497

264,471

1,304,433

At 31 December 2023

288,926

403,852

338,251

287,842

1,318,871

 

AUK Supplies Limited

Notes to the Unaudited Financial Statements

Year Ended 31 December 2024

6

Debtors

Note

2024
 £

2023
 £

Trade debtors

 

995,501

1,278,286

Amounts owed by group undertakings

-

104,631

Other debtors

 

28,926

-

Prepayments

 

132,909

66,890

 

1,157,336

1,449,807

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

215,902

220,819

Trade creditors

 

773,252

651,208

Amounts owed to group undertakings

195,662

-

Taxation and social security

 

247,883

218,771

Accruals and deferred income

 

9,406

27,743

Other creditors

 

19,307

16,019

 

1,461,412

1,134,560

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

553,798

723,162

 

AUK Supplies Limited

Notes to the Unaudited Financial Statements

Year Ended 31 December 2024

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Hire purchase contracts

89,146

258,510

Redeemable preference shares

464,652

464,652

553,798

723,162

Current loans and borrowings

2024
£

2023
£

Hire purchase contracts

215,902

220,819

Hire purchase agreements
Hire purchase agreements are secured on the individual assets taken out on hire purchase.

Redeemable preference shares
The preference shares are redeemable at the discretion of the company.

9

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £825,165 (2023 - £960,862).

10

Parent and ultimate parent undertaking

The company's immediate parent is Brookside Group Limited, incorporated in England and Wales.

 

 

AUK Supplies Limited

Notes to the Unaudited Financial Statements

Year Ended 31 December 2024

11

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

'A' Ordinary shares of £1 each

1

1

1

1

'B' Ordinary shares of £1 each

1

1

1

1

'C' Preference shares of £1 each

61,500

61,500

61,500

61,500

'D' Preference shares of £1 each

4

4

4

4

'E' Preference shares of £1 each

403,148

403,148

403,148

403,148

464,754

464,754

464,754

464,754