Advanced Automation and Assembly Ltd. Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 08338546

Advanced Automation and Assembly Ltd.

Filleted Unaudited Financial Statements

31 December 2024

Advanced Automation and Assembly Ltd.

Financial Statements

Year ended 31 December 2024

Contents	Page

Chartered accountant's report to the board of directors on the preparation of the unaudited statutory financial statements	1

Statement of financial position	2

Notes to the financial statements	4

Advanced Automation and Assembly Ltd.

Chartered Accountant's Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Advanced Automation and Assembly Ltd.

Year ended 31 December 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Advanced Automation and Assembly Ltd. for the year ended 31 December 2024, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the Board of Directors of Advanced Automation and Assembly Ltd., as a body, in accordance with the terms of our engagement letter dated 12 January 2024. Our work has been undertaken solely to prepare for your approval the financial statements of Advanced Automation and Assembly Ltd. and state those matters that we have agreed to state to you, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Advanced Automation and Assembly Ltd. and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Advanced Automation and Assembly Ltd. has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Advanced Automation and Assembly Ltd.. You consider that Advanced Automation and Assembly Ltd. is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of Advanced Automation and Assembly Ltd.. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

HEBBLETHWAITES Chartered accountants

2 Westbrook Court Sharrow Vale Road Sheffield S11 8YZ

4 September 2025

Advanced Automation and Assembly Ltd.

Statement of Financial Position

31 December 2024

	2024	2023
Note	£	£

Fixed assets

Tangible assets	5	39,095	28,137

Current assets

Debtors	6	9,698	28,035
Cash at bank and in hand		52,451	92,593
		--------	---------
		62,149	120,628

Creditors: amounts falling due within one year	7	48,930	50,034
		--------	---------
Net current assets		13,219	70,594
		--------	--------
Total assets less current liabilities		52,314	98,731

Creditors: amounts falling due after more than one year	8	7,505	17,590

Provisions	–	5,345
	--------	--------
Net assets	44,809	75,796
	--------	--------

Capital and reserves

Called up share capital	200	200
Profit and loss account	44,609	75,596
	--------	--------
Shareholders funds	44,809	75,796
	--------	--------

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.

For the 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 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 .

Advanced Automation and Assembly Ltd.

Statement of Financial Position (continued)

31 December 2024

These financial statements were approved by the board of directors and authorised for issue on 3 September 2025 , and are signed on behalf of the board by:

Mr J R Heley

Director

Company registration number: 08338546

Advanced Automation and Assembly Ltd.

Notes to the Financial Statements

Year ended 31 December 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 68 Silverdale Road, Ecclesall, Sheffield, S11 9JL.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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.

Revenue recognition

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 profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

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	-	20% reducing balance
Fixtures and fittings	-	25% reducing balance
Motor vehicles	-	25% reducing balance
Computer equipment	-	25% straight line

Impairment of fixed assets

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.

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.

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 as a finance cost in profit or loss in the period it arises.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 4 (2023: 3 ).

5. Tangible assets

	Plant and machinery	Fixtures and fittings	Motor vehicles	Computer equipment	Total
	£	£	£	£	£
Cost
At 1 January 2024	43,774	397	17,950	4,237	66,358
Additions	25,725	599	–	–	26,324
Disposals	–	–	( 17,950)	–	( 17,950)
	--------	----	--------	-------	--------
At 31 December 2024	69,499	996	–	4,237	74,732
	--------	----	--------	-------	--------
Depreciation
At 1 January 2024	26,608	347	7,854	3,412	38,221
Charge for the year	4,827	16	–	427	5,270
Disposals	–	–	( 7,854)	–	( 7,854)
	--------	----	--------	-------	--------
At 31 December 2024	31,435	363	–	3,839	35,637
	--------	----	--------	-------	--------
Carrying amount
At 31 December 2024	38,064	633	–	398	39,095
	--------	----	--------	-------	--------
At 31 December 2023	17,166	50	10,096	825	28,137
	--------	----	--------	-------	--------

6. Debtors

	2024	2023
	£	£
Trade debtors	4,162	10,912
Other debtors	5,536	17,123
	-------	--------
	9,698	28,035
	-------	--------

7. Creditors: amounts falling due within one year

	2024	2023
	£	£
Bank loans and overdrafts	10,648	10,648
Social security and other taxes	215	3,366
Other creditors	38,067	36,020
	--------	--------
	48,930	50,034
	--------	--------

8. Creditors: amounts falling due after more than one year

	2024	2023
	£	£
Bank loans and overdrafts	7,505	17,590
	-------	--------

9. Related party transactions

At the year end the directors were due £35,556 (2023: £34,270) from the company. This loan is repayable on demand and no interest has been charged.