Aspen A.C. Limited - Filleted accounts

Registered number

02165040

Aspen A.C. Limited

Filleted Accounts

31 December 2024

Aspen A.C. Limited
Registered number:		02165040
Balance Sheet
as at 31 December 2024

Notes			2024			2023
£				£
Fixed assets
Tangible assets	3		21,539			10,908
Investments	4		85			85
			21,624			10,993

Current assets
Stocks		15,375			19,860
Debtors	5	751,902			678,209
Cash at bank and in hand		17			31
		767,294			698,100

Creditors: amounts falling due within one year	6	(500,776)			(483,527)

Net current assets			266,518			214,573

Total assets less current liabilities			288,142			225,566

Creditors: amounts falling due after more than one year	7		(9,746)			-



Net assets			278,396			225,566

Capital and reserves
Called up share capital			470,002			470,002
Profit and loss account			(191,606)			(244,436)

Shareholder's funds			278,396			225,566

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.


B Cecil
Director
Approved by the board on 11 September 2025

Aspen A.C. Limited
Notes to the Accounts
for the year ended 31 December 2024


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Plant and machinery	33% straight line
	Fixtures, fittings, tools and equipment	15% reducing balance
	Motor vehicles	25% reducing balance

	Investments
	Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Leased assets
	A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.


2	Employees			2024		2023
Number					Number

	Average number of persons employed by the company			12		14


3	Tangible fixed assets
		Plant and machinery etc		Motor vehicles		Total
£			£		£
	Cost
	At 1 January 2024	61,428		10,999		72,427
	Additions	1,981		22,819		24,800
	Disposals	-		(15,323)		(15,323)
	At 31 December 2024	63,409		18,495		81,904

	Depreciation
	At 1 January 2024	57,910		3,609		61,519
	Charge for the year	528		2,531		3,059
	On disposals	-		(4,213)		(4,213)
	At 31 December 2024	58,438		1,927		60,365

	Net book value
	At 31 December 2024	4,971		16,568		21,539
	At 31 December 2023	3,518		7,390		10,908


4	Investments
Investments in
subsidiary
undertakings
£
	Cost
	At 1 January 2024					85

	At 31 December 2024					85


5	Debtors			2024		2023
£					£

	Trade debtors			373,959		232,257
	Amounts owed by group undertakings and undertakings in which the company has a participating interest			296,610		372,107
	Deferred tax asset			48,796		48,796
	Other debtors			32,537		25,049
				751,902		678,209


6	Creditors: amounts falling due within one year			2024		2023
£					£

	Bank loans and overdrafts			57,905		52,372
	Obligations under finance lease and hire purchase contracts			3,899		-
	Trade creditors			160,419		123,991
	Amounts owed to group undertakings and undertakings in which the company has a participating interest			90,387		96,869
	Taxation and social security costs			21,185		11,635
	Other creditors			166,981		198,660
				500,776		483,527

	The company's bankers, Nat West plc, have a debenture dated 17 June 2011 for all monies due or becoming due from the company to the bank. The bank holds a fixed and floating charge over the undertaking and all property and assets present and future including goodwill, uncalled capital, buildings, fixtures & fixed plant and machinery.

7	Creditors: amounts falling due after one year			2024		2023
£					£

	Obligations under finance lease and hire purchase contracts			9,746		-

8	Related party transactions

	During the year the company entered into the following transactions with related parties: Purchases from related parties £37,869 (2023 £42,736). At the balance sheet date the company owed £11,100 (2023 £16,089) in respect of related party trade creditors. The company owed £147,280 (2023 £187,280) to the directors at the balance sheet date. There are no specific terms or conditions attached to the amounts owed to related parties. The company has taken advantage of the exemptions of FRS 102 section 33.1A from disclosing transactions with fellow group companies.

9	Controlling party

	The ultimate parent company is Perbeck Holdings Limited, Unit 1 Apex Way, Hailsham, East Sussex BN27 3WA, a company incorporated in England which is also the ultimate parent company of the group. The group is a small group and it has therefore taken advantage of the exemptions available not to prepare consolidated accounts.

10	Other information

	Aspen A.C. Limited is a private company limited by shares and incorporated in England. Its registered office is:
	Unit 1 Apex Way
	Hailsham
	East Sussex
	BN27 3WA