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Company Registration No. 04589987 (England and Wales)
AA SHEET METAL LIMITED Unaudited accounts for the year ended 31 December 2024
AA SHEET METAL LIMITED Unaudited accounts Contents
Page
Company information
3
Statement of financial position
4
Notes to the accounts
5
- 2 -
AA SHEET METAL LIMITED Company Information for the year ended 31 December 2024
Directors
Alan Smith James Smith Jane Smith
Secretary
Mrs J Smith
Company Number
04589987 (England and Wales)
Registered Office
Unit 1 Fletcher Way Weston Road Norwich NR3 3ST
Accountants
Accounting Associates Norwich Ltd 19 Hartwell Road Wroxham Norwich Norfolk NR12 8TL
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AA SHEET METAL LIMITED Statement of financial position as at 31 December 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
5
140,301 
150,388 
Current assets
Inventories
50,730 
17,686 
Debtors
6
128,008 
146,791 
Cash at bank and in hand
92,354 
168,261 
271,092 
332,738 
Creditors: amounts falling due within one year
7
(149,428)
(199,809)
Net current assets
121,664 
132,929 
Total assets less current liabilities
261,965 
283,317 
Creditors: amounts falling due after more than one year
8
(51,030)
(51,874)
Provisions for liabilities
Deferred tax
(32,897)
(35,148)
Net assets
178,038 
196,295 
Capital and reserves
Called up share capital
9
200 
200 
Profit and loss account
177,838 
196,095 
Shareholders' funds
178,038 
196,295 
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 26 September 2025 and were signed on its behalf by
James Smith Director Company Registration No. 04589987
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AA SHEET METAL LIMITED Notes to the Accounts for the year ended 31 December 2024
1
Statutory information
AA SHEET METAL LIMITED is a private company, limited by shares, registered in England and Wales, registration number 04589987. The registered office is Unit 1 Fletcher Way, Weston Road, Norwich, NR3 3ST.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
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 provisions of Section 1A "Small Entities" and the Companies Act 2006. The accounts have been prepared under the historical cost convention.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Intangible fixed assets
Intangible fixed assets (including purchased goodwill) are included at cost less accumulated amortisation. The goodwill acquired has been fully amortised.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% on reducing balance
Motor vehicles
25% on reducing balance
Fixtures & fittings
15% on reducing balance
Computer equipment
15% on reducing balance
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
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 statement of financial position date.
- 5 -
AA SHEET METAL LIMITED Notes to the Accounts for the year ended 31 December 2024
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. 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. Deferred tax assets and liabilities are not discounted.
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 January 2024
60,000 
At 31 December 2024
60,000 
Amortisation
At 1 January 2024
60,000 
At 31 December 2024
60,000 
Net book value
At 31 December 2024
- 
- 6 -
AA SHEET METAL LIMITED Notes to the Accounts for the year ended 31 December 2024
5
Tangible fixed assets
Land & buildings 
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At cost 
At 1 January 2024
11,431 
560,594 
64,888 
25,163 
18,273 
680,349 
Additions
- 
7,187 
27,412 
341 
- 
34,940 
At 31 December 2024
11,431 
567,781 
92,300 
25,504 
18,273 
715,289 
Depreciation
At 1 January 2024
11,431 
464,914 
24,710 
14,744 
14,162 
529,961 
Charge for the year
- 
25,779 
16,881 
1,615 
752 
45,027 
At 31 December 2024
11,431 
490,693 
41,591 
16,359 
14,914 
574,988 
Net book value
At 31 December 2024
- 
77,088 
50,709 
9,145 
3,359 
140,301 
At 31 December 2023
- 
95,680 
40,178 
10,419 
4,111 
150,388 
6
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
94,563 
127,588 
Accrued income and prepayments
11,471 
13,342 
Other debtors
21,974 
5,861 
128,008 
146,791 
7
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
10,000 
10,000 
VAT
29,591 
36,362 
Obligations under finance leases and hire purchase contracts
15,213 
10,336 
Trade creditors
51,823 
85,676 
Taxes and social security
31,795 
41,111 
Other creditors
3,638 
2,667 
Loans from directors
- 
848 
Accruals
7,368 
12,809 
149,428 
199,809 
8
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
4,788 
14,924 
Obligations under finance leases and hire purchase contracts
46,242 
36,950 
51,030 
51,874 
The company has taken maximum advantage of the government backed Bounce Back Loan scheme following the coronavirus outbreak.
- 7 -
AA SHEET METAL LIMITED Notes to the Accounts for the year ended 31 December 2024
9
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
200 Ordinary shares of £1 each
200 
200 
10
Operating lease commitments
2024 
2023 
£ 
£ 
At 31 December 2024 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
5,343 
5,343 
Later than one year and not later than five years
21,373 
21,372 
Later than five years
4,007 
9,350 
30,723 
36,065 
11
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Director's Loan Account
(848)
110,861 
98,724 
11,289 
Director's Current Account
5,205 
4,164 
- 
9,369 
4,357 
115,025 
98,724 
20,658 
12
Average number of employees
During the year the average number of employees was 17 (2023: 17).
- 8 -