Company registration number 07772668 (England and Wales)
AEG FUELS UK LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
AEG FUELS UK LIMITED
COMPANY INFORMATION
Directors
Mr C Clementi
Mr M S Clementi
(Appointed 1 November 2024)
Company number
07772668
Registered office
Global House
First Floor, South Wing
High Street
Crawley
West Sussex
RH10 1DL
Auditor
Sumer Audit
Amelia House
Crescent Road
Worthing
West Sussex
BN11 1RL
AEG FUELS UK LIMITED
CONTENTS
Page
Statement of financial position
1
Notes to the financial statements
2 - 5
AEG FUELS UK LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
2024
2023
Notes
$
$
$
$
Non-current assets
Property, plant and equipment
4
193,516
212,173
Current assets
Trade and other receivables
5
3,988,206
4,133,644
Cash and cash equivalents
117,539
113,976
4,105,745
4,247,620
Current liabilities
6
(1,256,546)
(1,869,179)
Net current assets
2,849,199
2,378,441
Total assets less current liabilities
3,042,715
2,590,614
Provisions for liabilities
(26,733)
(36,533)
Net assets
3,015,982
2,554,081
Equity
Called up share capital
2
2
Retained earnings
3,015,980
2,554,079
Total equity
3,015,982
2,554,081

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

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

The financial statements were approved by the board of directors and authorised for issue on 5 September 2025 and are signed on its behalf by:
Mr C Clementi
Director
Company registration number 07772668 (England and Wales)
AEG FUELS UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 2 -
1
Accounting policies
Company information

AEG Fuels UK Limited is a private company limited by shares incorporated in England and Wales. The registered office is Global House, First Floor, South Wing, High Street, Crawley, West Sussex, RH10 1DL.

1.1
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 US dollars, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest $1.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

A true t the time of approving the financial statements, t he directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The directors have considered relevant information, including the company’s principal risks and uncertainties, the annual budget and the impact of subsequent events in making their assessment. Based on these assessments and having regard to the resources available to the entity, t he directors ha ve concluded that there is no material uncertainty and that they can continue to adopt the going concern basis of accounting in preparing the annual report and financial statements.

1.3
Revenue

Revenue represents amounts recharged for costs incurred. Recharges are recognised in the same period as when the costs occurred.

1.4
Property, plant and equipment

Property, plant and equipment are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

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:

Leasehold improvements
Over the term of the lease
Fixtures and fittings
15% per annum on diminishing balance
Computers
33% per annum on cost

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 profit or loss.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand.

1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

AEG FUELS UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 3 -
Basic financial assets

Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost.

Basic financial liabilities

Basic financial liabilities, including trade and other payables, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.9
Provisions

Provisions are recognised when the company has a legal or constructive present obligation as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting end date, taking into account the risks and uncertainties surrounding the obligation. Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value. When a provision i s measured at present value, the unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or non-current assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

1.11
Retirement benefits

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

1.12
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 lease s asset are consumed.

AEG FUELS UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 4 -
1.13
Foreign exchange

Transactions in currencies other than dollars 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 are included in the income statement for the period.

2
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.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was 35 (2023 - 29).

4
Property, plant and equipment
Leasehold improvements
Fixtures and fittings
Computers
Total
$
$
$
$
Cost
At 1 January 2024
93,270
139,799
62,478
295,547
Additions
-
0
-
0
18,017
18,017
At 31 December 2024
93,270
139,799
80,495
313,564
Depreciation and impairment
At 1 January 2024
16,699
28,979
37,696
83,374
Depreciation charged in the year
9,327
16,257
11,090
36,674
At 31 December 2024
26,026
45,236
48,786
120,048
Carrying amount
At 31 December 2024
67,244
94,563
31,709
193,516
At 31 December 2023
76,571
110,820
24,782
212,173
AEG FUELS UK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 5 -
5
Trade and other receivables
2024
2023
Amounts falling due within one year:
$
$
Amounts owed by group undertakings
3,856,242
3,968,097
Other receivables
131,964
165,547
3,988,206
4,133,644
6
Current liabilities
2024
2023
$
$
Taxation and social security
53,140
260,234
Other payables
1,203,406
1,608,945
1,256,546
1,869,179
7
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Senior Statutory Auditor:
Kristina Perry FCCA
Statutory Auditor:
Sumer Audit
Date of audit report:
15 September 2025
Sumer Audit is the trading name of Sumer Auditco Limited
8
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
$
$
932,299
1,083,865
9
Parent company

The ultimate parent company is Associated Energy Group LLC, a company incorporated in the United States. Their registered office is 815 Brazos St. STE 500 Austin, TX, 78701.

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