Registration number: 03144094

A & B Engineering (Southern) Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 9

A & B Engineering (Southern) Limited

Company Information

Director

Mr SP Smallcorn

Registered office

Unit 10 Wares Farm Redwall Lane Linton Kent ME17 4BB

A & B Engineering (Southern) Limited

(Registration number: 03144094)
Balance Sheet as at 31 January 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	222,844	296,777
Current assets
Stocks	5	35,236	33,161
Debtors	6	213,147	173,122
Cash at bank and in hand		57,600	75,014
		305,983	281,297
Creditors: Amounts falling due within one year	7	(191,447)	(180,793)
Net current assets		114,536	100,504
Total assets less current liabilities		337,380	397,281
Creditors: Amounts falling due after more than one year	7	(180,557)	(249,128)
Provisions for liabilities		(52,555)	(4,152)
Net assets		104,268	144,001
Capital and reserves
Called up share capital		120	120
Share premium reserve		(118)	(118)
Retained earnings		104,266	143,999
Shareholders' funds		104,268	144,001

For the financial year ending 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

A & B Engineering (Southern) Limited

(Registration number: 03144094)
Balance Sheet as at 31 January 2025

Approved and authorised by the director on 13 March 2025
 

......................................... Mr SP Smallcorn Director

A & B Engineering (Southern) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 10 Wares Farm
Redwall Lane
Linton
Kent
ME17 4BB

These financial statements were authorised for issue by the director on 13 March 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

A & B Engineering (Southern) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Fixtures and fittings	25% on reducing balance
Motor vehicles	25% on reducing balance
Computer equipment	25% on reducing balance
Plant and machinery	25% on reducing balance

Amortisation

Asset class	Amortisation method and rate
Goodwill	five years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

A & B Engineering (Southern) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

A & B Engineering (Southern) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 13 (2024 - 13).

A & B Engineering (Southern) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

4	Tangible assets

	Furniture, fittings and equipment  £	Motor vehicles  £	Other tangible assets £	Total £
Cost or valuation
At 1 February 2024	34,728	24,680	1,688,020	1,747,428
Additions	347	-	-	347
At 31 January 2025	35,075	24,680	1,688,020	1,747,775
Depreciation
At 1 February 2024	29,843	6,170	1,414,638	1,450,651
Charge for the year	1,308	4,627	68,345	74,280
At 31 January 2025	31,151	10,797	1,482,983	1,524,931
Carrying amount
At 31 January 2025	3,924	13,883	205,037	222,844
At 31 January 2024	4,885	18,510	273,382	296,777

5

Stocks

	2025 £	2024 £
Work in progress	28,024	23,717
Other inventories	7,212	9,444
	35,236	33,161

6

Debtors

Current	2025 £	2024 £
Trade debtors	167,362	130,294
Prepayments	9,111	9,112
Other debtors	36,674	33,716
	213,147	173,122

A & B Engineering (Southern) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

7

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	8	81,888	77,803
Trade creditors		54,359	70,903
Taxation and social security		49,551	28,615
Accruals and deferred income		4,485	4,075
Other creditors		1,164	(603)
		191,447	180,793

Creditors: amounts falling due after more than one year

	Note	2025 £	2024 £
Due after one year
Loans and borrowings	8	180,557	249,128

8	Loans and borrowings

Non-current loans and borrowings

	2025 £	2024 £
Hire purchase contracts	116,332	191,697
Other borrowings	64,225	57,431
	180,557	249,128

Current loans and borrowings

	2025 £	2024 £
Hire purchase contracts	75,747	75,747
Other borrowings	6,141	2,056
	81,888	77,803