REGISTERED NUMBER: 04352287 (England and Wales)

Financial Statements for the Year Ended 31 December 2024

for

Aeroseals Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

S M Jones

REGISTERED OFFICE:

Unit 3a Acan Way

Narborough

Leicester

LE19 2FT

REGISTERED NUMBER:

04352287 (England and Wales)

AUDITORS:

Hills Accountants Limited

Greenhill House

First Floor East Wing

Thorpe Road

Peterborough

Cambridgeshire

PE3 6RU

FIXED ASSETS

Tangible assets

4

223,612

140,812

CURRENT ASSETS

Stocks

5

407,089

451,918

Debtors

6

668,914

1,055,754

Cash at bank and in hand

907,027

857,063

1,983,030

2,364,735

CREDITORS

Amounts falling due within one year

7

369,812

921,764

NET CURRENT ASSETS

1,613,218

1,442,971

TOTAL ASSETS LESS CURRENT LIABILITIES

1,836,830

1,583,783

PROVISIONS FOR LIABILITIES

42,817

-

NET ASSETS

1,794,013

1,583,783

CAPITAL AND RESERVES

Called up share capital

9

200

200

Other reserves

10

314,934

314,934

Retained earnings

10

1,478,879

1,268,649

SHAREHOLDERS' FUNDS

1,794,013

1,583,783

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 director and authorised for issue on 9 September 2025 and were signed by:

S M Jones - Director

1.	STATUTORY INFORMATION

Aeroseals 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Going concern

The financial statements have been prepared on a going concern basis. The Director has reviewed and considered relevant information, including the annual budget and future cash flows in making their assessment. In particular, in response to the Ukraine conflict, the Director has tested their cash flow analysis to take into account the impact on their business of possible scenarios brought on by the impact of the Ukraine conflict, alongside the measures that they can take to mitigate the impact. Based on these assessments, given the measures that could be undertaken to mitigate the current adverse conditions, and the current resources available, the Director has concluded that they can continue to adopt the going concern basis in preparing the annual reports and accounts.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebate, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

- the Company has transferred the significant risks and rewards of ownership to the buyer:

- the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

- the amount of revenue can be measured reliably;

- it is probable that the Company will receive the consideration due under the transaction; and

- the costs incurred or to be incurred in respect of the transaction can be measure reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

- the amount of revenue can be measured reliably;

- it is probable that the Company will receive the consideration due under the contract;

- the stage of completion of the contract at the end of the reporting period can be measured reliably; and

- the costs incurred and the costs to complete the contract can be measured reliably.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Tangible fixed assets under he cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical costs includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

- Land and property improvements - 10-25 years

- Plant & machinery - 5-10 years

- Office equipment - 7 years

- Computer equipment - 3-5 years

The assets residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Stocks

Stocks 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.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Wok in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 38 (2023 - 33 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2024

1,004,972

Additions

140,983

Disposals

(749

)

At 31 December 2024

1,145,206

DEPRECIATION

At 1 January 2024

864,160

Charge for year

57,459

Eliminated on disposal

(25

)

At 31 December 2024

921,594

NET BOOK VALUE

At 31 December 2024

223,612

At 31 December 2023

140,812

5.

STOCKS

31.12.24

31.12.23

£

£

Raw materials

249,445

259,801

Work-in-progress

30,614

119,799

Finished goods

127,030

72,318

407,089

451,918

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

381,894

899,416

Other debtors

287,020

156,338

668,914

1,055,754

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade creditors

139,547

374,898

Taxation and social security

161,272

308,558

Other creditors

68,993

238,308

369,812

921,764

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.12.24

31.12.23

£

£

Within one year

70,200

64,034

Between one and five years

210,600

-

In more than five years

674,267

-

955,067

64,034

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

£

200

Ordinary

£1

200

200

10.

RESERVES

Retained

Other

earnings

reserves

Totals

£

£

£

At 1 January 2024

1,268,649

314,934

1,583,583

Profit for the year

371,730

371,730

Dividends

(161,500

)

(161,500

)

At 31 December 2024

1,478,879

314,934

1,793,813

11.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mr Lee James Hills (Senior Statutory Auditor)

for and on behalf of Hills Accountants Limited

12.	RELATED PARTY DISCLOSURES

During the financial year the company was recharged costs amounting to £17,222 (2023 £13,907) from European Active Projects Limited, a company controlled by S Jones.

As at the 31 December 2024 the company owed European Active Projects Limited £Nil (2023 £2,094).

As at the 31 December 2024 the company was owed £197,000 (2023 £Nil)) from Mr S Jones. The full amount has been repaid within 9 months of the year end.

During the financial year the company was recharged costs amounting to £560,000 (2023 £Nil) from LWJ Consultancy Limited, a company controlled by S Jones.

13.	ULTIMATE CONTROLLING PARTY

The controlling party is S M Jones.