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Company registration number: 04522856
Automation Supply Limited
Unaudited filleted financial statements
30 November 2024
Automation Supply Limited
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
Automation Supply Limited
Directors and other information
Directors John Hickson
Deborah Hickson
Leigh Hickson
Alexander Hickson
Secretary Deborah Hickson
Company number 04522856
Registered office 30 Old Hall Road
Gatley
Cheadle
Cheshire
SK8 4BE
Business address 30 Old Hall Road
Gatley
Cheadle
Cheshire
SK8 4BE
Accountants Langers
8-10 Gatley Road
Cheadle
Cheshire
SK8 1PY
Automation Supply Limited
Statement of financial position
30 November 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 5 56,510 48,517
_______ _______
56,510 48,517
Current assets
Stocks 35,440 44,255
Debtors 6 27,965 21,114
Cash at bank and in hand 102,433 142,947
_______ _______
165,838 208,316
Creditors: amounts falling due
within one year 7 ( 89,485) ( 92,591)
_______ _______
Net current assets 76,353 115,725
_______ _______
Total assets less current liabilities 132,863 164,242
Provisions for liabilities ( 14,128) ( 9,218)
_______ _______
Net assets 118,735 155,024
_______ _______
Capital and reserves
Called up share capital 8 2 2
Profit and loss account 118,733 155,022
_______ _______
Shareholders funds 118,735 155,024
_______ _______
For the year ending 30 November 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 financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act 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 and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 14 August 2025 , and are signed on behalf of the board by:
John Hickson
Director
Company registration number: 04522856
Automation Supply Limited
Notes to the financial statements
Year ended 30 November 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 30 Old Hall Road, Gatley, Cheadle, Cheshire, SK8 4BE.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and 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.
Turnover
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.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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.
Tangible assets
tangible assets are initially recorded at cost, and are 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 capital and reserves, 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 capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves 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:
Plant and machinery - 25 % straight line
Motor vehicles - 25 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
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. 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 are largely independent of the cash inflows from other assets or groups of assets.
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 stocks to their present location and condition.
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 in finance costs in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes 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.
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 in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 5 (2023: 6 ).
5. Tangible assets
Plant and machinery Motor vehicles Total
£ £ £
Cost
At 1 December 2023 5,684 72,469 78,153
Additions 114 45,025 45,139
Disposals - ( 35,204) ( 35,204)
_______ _______ _______
At 30 November 2024 5,798 82,290 88,088
_______ _______ _______
Depreciation
At 1 December 2023 2,718 26,918 29,636
Charge for the year 1,300 18,244 19,544
Disposals - ( 17,602) ( 17,602)
_______ _______ _______
At 30 November 2024 4,018 27,560 31,578
_______ _______ _______
Carrying amount
At 30 November 2024 1,780 54,730 56,510
_______ _______ _______
At 30 November 2023 2,966 45,551 48,517
_______ _______ _______
6. Debtors
2024 2023
£ £
Trade debtors 22,509 16,763
Other debtors 5,456 4,351
_______ _______
27,965 21,114
_______ _______
7. Creditors: amounts falling due within one year
2024 2023
£ £
Trade creditors 78,090 71,022
Social security and other taxes 2,259 9,796
Other creditors 9,136 11,773
_______ _______
89,485 92,591
_______ _______
8. Called up share capital
Issued, called up and fully paid
2024 2023
No £ No £
Ordinary shares shares of £ 0.25 each 8 2 8 2
_______ _______ _______ _______
9. Related party transactions
During the year the company entered into the following transactions with related parties:
Transaction value
2024 2023
£ £
Company occupies premises owned by the director 6,000 6,180
_______ _______
At 30 November 2024 the company owed £2,499 (2023: £1,426) to John Hickson, a director. No interest has been charged to the company in respect of this loan which is repayable on demand and classified in creditors due within one year.