REGISTERED NUMBER: 02491884 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2024

for

AACS Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

L A Pallister

E Pallister

REGISTERED OFFICE:

WS6 Washington Business Centre

2 Turbine Way

Sunderland

Tyne and Wear

SR5 3NZ

REGISTERED NUMBER:

02491884 (England and Wales)

ACCOUNTANTS:

TTR Barnes

Chartered Accountants

3-5 Grange Terrace

Stockton Road

Sunderland

Tyne & Wear

SR2 7DG

BANKERS:

HSBC Bank plc

Unit 49-51

The Bridges Shopping Centre

Sunderland

Tyne and Wear

SR1 3LE

FIXED ASSETS

Tangible assets

4

76,691

51,316

CURRENT ASSETS

Stocks

12,000

5,500

Debtors

5

178,397

135,717

Cash at bank and in hand

5,965

1,074

196,362

142,291

CREDITORS

Amounts falling due within one year

6

269,396

289,462

NET CURRENT LIABILITIES

(73,034

)

(147,171

)

TOTAL ASSETS LESS CURRENT LIABILITIES

3,657

(95,855

)

CREDITORS

Amounts falling due after more than one year

7

322,352

169,912

NET LIABILITIES

(318,695

)

(265,767

)

CAPITAL AND RESERVES

Called up share capital

98

98

Capital redemption reserve

5

5

Retained earnings

(318,798

)

(265,870

)

SHAREHOLDERS' FUNDS

(318,695

)

(265,767

)

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 September 2025 and were signed on its behalf by:

L A Pallister - Director

1.	STATUTORY INFORMATION

AACS 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 the going concern basis, which assumes that the company will continue in operational existence for the foreseeable future, which the directors consider to be appropriate.

Turnover

Turnover represents net invoiced sales of goods and services, excluding value added tax, except in respect of service contracts where turnover is recognised when the company obtains the right to consideration.

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.

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

25% Straight line

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on reducing balance

Stocks

Stock is valued at the lower of cost and net realisable value. Cost is determined on a first in first out basis. Net realisable value represents estimated selling price less costs to complete and sell. Provision is made for slow moving, obsolete or damaged stock where the net realisable value is less than cost.

Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are recognised at transaction value and subsequently measured at their settlement value.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2023 - 15 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 January 2024

10,829

12,266

36,200

19,581

78,876

Additions

3,249

-

37,140

333

40,722

At 31 December 2024

14,078

12,266

73,340

19,914

119,598

DEPRECIATION

At 1 January 2024

3,058

3,075

10,761

10,666

27,560

Charge for year

1,513

1,379

9,476

2,979

15,347

At 31 December 2024

4,571

4,454

20,237

13,645

42,907

NET BOOK VALUE

At 31 December 2024

9,507

7,812

53,103

6,269

76,691

At 31 December 2023

7,771

9,191

25,439

8,915

51,316

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

Motor

vehicles

£

COST

At 1 January 2024

and 31 December 2024

36,200

DEPRECIATION

At 1 January 2024

10,761

Charge for year

6,360

At 31 December 2024

17,121

NET BOOK VALUE

At 31 December 2024

19,079

At 31 December 2023

25,439

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

153,982

109,225

Other debtors

24,415

26,492

178,397

135,717

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

16,771

20,922

Trade creditors

105,637

139,652

Taxation and social security

96,344

69,931

Other creditors

50,644

58,957

269,396

289,462

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

33,695

51,503

Other creditors

288,657

118,409

322,352

169,912

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

-

8,818

8.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Bank loans

50,466

67,070

Hire purchase contracts

18,409

23,612

68,875

90,682

Bank loans and overdrafts are secured by way of a fixed and floating charge over all the assets of the company.

Hire purchase contracts are secured on the assets to which they relate.

9.

CONTROL

The controlling party is Mrs L A Pallister.