REGISTERED NUMBER: 03445509 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

A.E.P. (MODULAR CONSTRUCTION) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M E Lawrence

Mrs M Gilmour

Mrs P C Lawrence

M Lawrence

M Holstead

P Muspratt

SECRETARY:

M E Lawrence

REGISTERED OFFICE:

Windover House

St. Ann Street

Salisbury

SP1 2DR

REGISTERED NUMBER:

03445509 (England and Wales)

ACCOUNTANTS:

Fawcetts LLP

Chartered Accountants

Windover House

St. Ann Street

Salisbury

SP1 2DR

BANKERS:

Lloyds Bank plc

38 Blue Boar Row

Salisbury

SP1 1DB

FIXED ASSETS

Tangible assets

4

193,177

189,714

CURRENT ASSETS

Stocks

95,902

77,152

Debtors

5

957,541

754,578

Cash at bank and in hand

59,319

501,478

1,112,762

1,333,208

CREDITORS

Amounts falling due within one year

6

719,140

953,484

NET CURRENT ASSETS

393,622

379,724

TOTAL ASSETS LESS CURRENT LIABILITIES

586,799

569,438

CREDITORS

Amounts falling due after more than one year

7

(121,729

)

(116,951

)

PROVISIONS FOR LIABILITIES

(33,614

)

(42,852

)

NET ASSETS

431,456

409,635

CAPITAL AND RESERVES

Called up share capital

8

45

45

Capital redemption reserve

9

45

45

Retained earnings

9

431,366

409,545

SHAREHOLDERS' FUNDS

431,456

409,635

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 June 2025 and were signed on its behalf by:

M E Lawrence - Director

1.	STATUTORY INFORMATION

A.E.P. (Modular Construction) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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 the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements have been prepared on a going concern basis and are presented in Sterling (£) which is the functional currency of the company.

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

Turnover

Turnover represents net invoiced sales of goods and services, excluding value added tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Improvements to property

-

10% on cost

Plant and machinery

-

25% on cost

Office equipment

-

25% on cost

Motor vehicles

-

15% on reducing balance

Fixtures and fittings

-

10% on cost

Expenditure on fixed assets is capitalised except for expenditure incurred on the replacement of assets of low value with a short life. Repair, renovation and replacement expenditure is written off as expenditure in the profit and loss account. The cost of fixed assets is their purchase cost, together with any incidental costs of acquisition.

Stock and work in progress

Stock and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the 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 the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account on a straight-line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Debtors

Debtors are measured at their recoverable amount.

Creditors and provisions

Creditors and provisions are recognised where the company has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2023 - 20 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2024

681,088

Additions

70,072

At 31 December 2024

751,160

DEPRECIATION

At 1 January 2024

491,374

Charge for year

66,609

At 31 December 2024

557,983

NET BOOK VALUE

At 31 December 2024

193,177

At 31 December 2023

189,714

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 January 2024

115,085

Additions

40,640

At 31 December 2024

155,725

DEPRECIATION

At 1 January 2024

20,365

Charge for year

25,836

At 31 December 2024

46,201

NET BOOK VALUE

At 31 December 2024

109,524

At 31 December 2023

94,720

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

909,754

698,412

Other debtors

47,787

56,166

957,541

754,578

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Hire purchase contracts

49,091

22,514

Trade creditors

403,705

442,065

Amounts owed to associates

134,609

250,883

Taxation and social security

58,294

31,748

Other creditors

73,441

206,274

719,140

953,484

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Hire purchase contracts

65,454

51,326

Other creditors

56,275

65,625

121,729

116,951

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

450

Ordinary A

10p

45

45

9.

RESERVES

Capital

Retained

redemption

earnings

reserve

Totals

£

£

£

At 1 January 2024

409,545

45

409,590

Profit for the year

21,821

21,821

At 31 December 2024

431,366

45

431,411

10.	RELATED PARTY DISCLOSURES

Creditors due within one year include £46,900 (2023: £Nil) which is owed to the directors of the company.