1.
General Information
Advanced Tooling Systems (Group) Ltd
is a private company, limited by shares, incorporated in England & Wales, registered number
11459949
. The registered office is Coldred Road, Parkwood Industrial Estate, Maidstone, Kent, ME15 9XX.
2.
Accounting Policies
2.1.
Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland'' and the Companies Act 2006.
2.2.
Basis Of Consolidation
The group consolidated financial statements include the financial statements of the company and all of its subsidiary undertakings together with the group’s share of the results of associates made up to 31 December 2024.
A subsidiary is an entity controlled by the group. Control is the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities. Where the group owns less than 50% of the voting powers of an entity but controls the entity by virtue of an agreement with other investors which give it control of the financial and operating policies of the entity, it accounts for that entity as a subsidiary.
Where a subsidiary has different accounting policies to the group, adjustments are made to those subsidiary financial statements to apply the group’s accounting policies when preparing the consolidated financial statements.
An associate is an entity, being neither a subsidiary nor a joint venture, in which the group holds a long-term interest and where the group has significant influence. The group considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate. The results of associates are accounted for using the equity method of accounting.
Any subsidiary undertakings or associates sold or acquired during the year are included up to, or from, the dates of change of control or change of significant influence respectively.
Where control of a subsidiary is lost, the gain or loss is recognised in the consolidated income statement. The cumulative amounts of any exchange differences on translation, recognised in equity, are not included in the gain or loss on disposal and are transferred to retained earnings. The gain or loss also includes amounts included in other comprehensive income that are required to be reclassified to profit or loss but excludes those amounts that are not required to be reclassified.
Where control of a subsidiary is achieved in stages, the initial acquisition that gave the group control is accounted for as a business combination. Thereafter where the group increases its controlling interest in the subsidiary the transaction is treated as a transaction between equity holders. Any difference between the fair value of the consideration paid and the carrying amount of the non-controlling interest acquired is recognised directly in equity. No changes are made to the carrying value of assets, liabilities or provisions for contingent liabilities.
Advanced Tooling Systems (Group) Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2024
2.3.
Business Combinations
Business combinations are accounted for by applying the purchase method.
The cost of a business combination is the fair value of the consideration given, liabilities incurred or assumed and of equity instruments issued plus the costs directly attributable to the business combination. Where control is achieved in stages the cost is the consideration at the date of each transaction.
Contingent consideration is initially recognised at estimated amount where the consideration is probable and can be measured reliably. Where (i) the contingent consideration is not considered probable or cannot be reliably measured but subsequently becomes probable and measurable or (ii) contingent consideration previously measured is adjusted, the amounts are recognised as an adjustment to the cost of the business combination.
On acquisition of a business, fair values are attributed to the identifiable assets, liabilities and contingent liabilities unless the fair value cannot be measured reliably, in which case the value is incorporated in goodwill. Intangible assets are only recognised separately from goodwill where they are separable and arise from contractual or other legal rights. Where the fair value of contingent liabilities cannot be reliably measured they are disclosed on the same basis as other contingent liabilities.
Merger Accounting
On 28.02.2020 Advanced Tooling Systems (Group) Ltd acquired 100% of the share capital in Advanced Tooling Systems (Holdings) Ltd. This has been accounted for using merger accounting.
2.4.
Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the group and parent company's ability to continue as a going concern.
2.5.
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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
Advanced Tooling Systems (Group) Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2024
2.6.
Intangible Fixed Assets and Amortisation - Goodwill
Goodwill represents the excess of the cost of a business combination over the fair value of the group’s share of the identifiable net assets, liabilities and contingent liabilities acquired.
Goodwill, being the amount paid on acquisition of business by Advanced Tooling Systems UK Limited in 2003, 2006 and 2007 is being amortised evenly over its estimated useful life of twenty years.
The directors have carried out an impairment review of the goodwill in ATS UK Ltd balance sheet and are of the opinion that the recoverable amount, based on expected future cash flows, is not materially different from the book value. The directors believe that the remaining life of 1.5 years as at 31 December 2024 is a reasonable estimate of the period over which the economic benefits are expected to flow to the Group.
2.7.
Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are Computer Software. It is amortised to the profit and loss account over its estimated economic life of 5 years.
2.8.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Freehold |
|
| Leasehold |
|
| Plant & Machinery |
|
| Motor Vehicles |
|
| Fixtures & Fittings |
|
| Computer Equipment |
|
2.9.
Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the group. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.
2.10.
Stocks and Work in Progress
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 stocks.
Cost is determined using the first-in, first-out method. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Work in progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
At the end of each reporting period stocks are assessed for impairment. If an item of stock is impaired, the identified stock is reduced to its selling price less costs to complete and sell and an impairment charge is recognised in the profit and loss account. Where a reversal of the impairment is required the impairment charge is reversed, up to the original impairment loss, and is recognised as a credit in the profit and loss account.
Advanced Tooling Systems (Group) Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2024
2.11.
Cash and Cash Equivalents
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.
2.12.
Financial Instruments
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 effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the group will not be able to collect all amounts due according to the original terms of the receivables.
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 group 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 group has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
2.13.
Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Advanced Tooling Systems (Group) Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2024
2.14.
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The group's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
2.15.
Pensions
The group operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.16.
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 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.
2.17.
Dividends
Dividend distribution to the group's shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
3.
Other Operating Income
| 2024 | 2023 | ||
|---|---|---|---|
| £ | £ | ||
| Other operating income | - |
|
|
| - | 3,175 | ||
Other gains and losses
The analysis of the group's other gains and losses for the year is as follows:
Advanced Tooling Systems (Group) Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2024
|
2024
|
2023
|
|
|
£
|
£
|
|
|
Loss on disposal of Tangible assets
|
13,320
|
(19,207)
|
4.
Operating Profit
The operating profit is stated after charging:
| 2024 | 2023 | ||
|---|---|---|---|
| £ | £ | ||
| Depreciation of tangible fixed assets |
|
|
|
| Amortisation of intangible fixed assets |
|
|
|
5.
Auditor's Remuneration
Remuneration received by the group's auditors and their associates during the year was as follows:
| 2024 | 2023 | ||
|---|---|---|---|
| £ | £ | ||
| Audit Services | |||
| Audit of the company's financial statements |
|
|
|
6.
Staff Costs
Staff costs, including directors' remuneration, were as follows:
| Group | Company | ||||||
|---|---|---|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | ||||
| £ | £ | £ | £ | ||||
| Wages and salaries |
|
|
|
|
|||
| Social security costs |
|
|
|
|
|||
| Other pension costs |
|
|
|
|
|||
|
|
|
|
|
||||
7.
Average Number of Employees
Group
Average number of employees, including directors, during the year was as follows:
| 2024 | 2023 | ||
|---|---|---|---|
| Office and administration |
|
|
|
| Production |
|
|
|
| Other departments |
|
|
|
|
|
|
||
Advanced Tooling Systems (Group) Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2024
Company
Average number of employees, including directors, during the year was: 3 (2023: 3)
8.
Directors' remuneration
| 2024 | 2023 | ||
|---|---|---|---|
| £ | £ | ||
| Emoluments |
|
|
|
| Company contributions to money purchase pension schemes |
|
|
|
|
|
|
||
9.
Interest Receivable and Similar Income
| 2024 | 2023 | ||
|---|---|---|---|
| £ | £ | ||
| Bank interest receivable |
|
|
|
| Other interest receivable type A | - | 449 | |
| 5,039 | 449 | ||
10.
Interest Payable and Similar Charges
| 2024 | 2023 | ||
|---|---|---|---|
| £ | £ | ||
| Bank loans and overdrafts |
|
|
|
| Finance charges payable under finance leases and hire purchase contracts | 19,703 | 20,892 | |
| 29,620 | 35,139 | ||
11.
Tax on Profit
|
The tax charge on the profit for the year was as follows:
|
|||||
| Tax Rate | 2024 | 2023 | |||
|---|---|---|---|---|---|
| 2024 | 2023 | £ | £ | ||
| Current tax | |||||
| UK Corporation Tax | - | 25.0% |
|
|
|
| Prior period adjustment |
( |
( |
|||
|
|
|
||||
| Deferred Tax | |||||
| Origination and reversal of timing differences |
|
( |
|||
| Total tax charge for the period |
|
|
|||
...CONTINUED
Advanced Tooling Systems (Group) Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2024
|
The actual charge for the year can be reconciled to the expected charge for the year based on the profit and the standard rate of corporation tax as follows:
|
|||||
| 2024 | 2023 | ||||
|---|---|---|---|---|---|
| £ | £ | ||||
| Profit before tax | 904,125 | 275,657 | |||
| Tax on profit at 25% (UK standard rate) |
|
|
|||
| Goodwill/depreciation not allowed for tax |
|
|
|||
| Expenses not deductible for tax purposes |
|
|
|||
| Tax losses utilised |
( |
( |
|||
| Capital allowances |
( |
( |
|||
| Short term timing differences |
|
( |
|||
| Research and Development tax credit |
( |
|
|||
| Prior period adjustment |
( |
( |
|||
| Difference in tax rates |
|
( |
|||
| Group relief |
( |
( |
|||
| Tax losses unutilised carried forward |
|
|
|||
| Total tax charge for the period | 176,510 | 6,000 | |||
12.
Intangible Assets
Group
Company
| Goodwill | Other | Total | |
|---|---|---|---|
| £ | £ | £ | |
| Cost | |||
| As at 1 January 2024 |
( |
|
( |
| As at 31 December 2024 |
( |
|
( |
| Amortisation | |||
| As at 1 January 2024 |
( |
|
( |
| Provided during the period |
|
|
|
| As at 31 December 2024 |
( |
|
( |
| Net Book Value | |||
| As at 31 December 2024 |
|
|
|
| As at 1 January 2024 |
|
|
|
The company had no intangible fixed assets as at 31 December 2024 or 31 December 2023.
Advanced Tooling Systems (Group) Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2024
13.
Tangible Assets
Group
Company
| Land & Property | ||||
|---|---|---|---|---|
| Freehold | Leasehold | Plant & Machinery | Motor Vehicles | |
| £ | £ | £ | £ | |
| Cost | ||||
| As at 1 January 2024 |
|
|
|
|
| Additions |
|
|
|
|
| Disposals |
|
|
( |
( |
| As at 31 December 2024 |
|
|
|
|
| Depreciation | ||||
| As at 1 January 2024 |
|
|
|
|
| Provided during the period |
|
|
|
|
| Disposals |
|
|
( |
( |
| As at 31 December 2024 |
|
|
|
|
| Net Book Value | ||||
| As at 31 December 2024 |
|
|
|
|
| As at 1 January 2024 |
|
|
|
|
| Fixtures & Fittings | Computer Equipment | Total | |
|---|---|---|---|
| £ | £ | £ | |
| Cost | |||
| As at 1 January 2024 |
|
|
|
| Additions |
|
|
|
| Disposals |
( |
|
( |
| As at 31 December 2024 |
|
|
|
| Depreciation | |||
| As at 1 January 2024 |
|
|
|
| Provided during the period |
|
|
|
| Disposals |
( |
|
( |
| As at 31 December 2024 |
|
|
|
| Net Book Value | |||
| As at 31 December 2024 |
|
|
|
| As at 1 January 2024 |
|
|
|
Advanced Tooling Systems (Group) Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2024
Included within net book value of land and buildings above is £241,423 (2023 - £248,923) in respect of freehold land and buildings and £17,949 (2023 - £26,284) in respect of short leasehold land and buildings and £757,053 (2023 - £780,201) in respect of long leasehold land and buildings. The long leasehold property is on 100 years lease from Feb 1979 to Feb 2078.
The company had no tangible fixed assets as at 31 December 2024 or 31 December 2023.
14.
Investments
Group
Company
| Associates | |
|---|---|
| £ | |
| Cost | |
| As at 1 January 2024 |
|
| As at 31 December 2024 |
|
| Provision | |
| As at 1 January 2024 |
|
| As at 31 December 2024 |
|
| Net Book Value | |
| As at 31 December 2024 |
|
| As at 1 January 2024 |
|
| Subsidiaries | |
|---|---|
| £ | |
| Cost | |
| As at 1 January 2024 |
|
| As at 31 December 2024 |
|
| Provision | |
| As at 1 January 2024 |
|
| As at 31 December 2024 |
|
| Net Book Value | |
| As at 31 December 2024 |
|
| As at 1 January 2024 |
|
Subsidiaries
Details of the group's subsidiaries as at 31 December 2024 are as follows:
Advanced Tooling Systems (Group) Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2024
| Name of undertaking | Registered Office | Class of shares held | Direct holding | Indirect holding |
|---|---|---|---|---|
|
|
Coldred Road, Parkwood Industrial Estate, Maidstone, Kent, ME15 9XX |
|
|
100.00% |
|
|
Highfield Industrial Estate, Bradley Road, Folkestone, Kent, CT19 6DD |
|
|
100.00% |
|
|
Coldred Road, Parkwood Industrial Estate, Maidstone, Kent, ME15 9XX |
|
|
100.00% |
|
|
Mfd House Parkwood Industrial Estate, Coldred Road, Maidstone, Kent, ME15 9XX |
|
|
- |
Under section 479C of the Companies Act 2006,
Advanced Tooling Systems (Group) Ltd
, registration number
11459949
, being the parent undertaking has guaranteed the liabilities of the following subsidiaries in order that they qualify for the exemption from audit under section 479A of the Companies Act 2006 in respect of the year ended 31 December 2024:
| Name of undertaking | Registered Number |
|---|---|
|
|
08152134 |
|
|
03731507 |
|
|
01445235 |
|
|
07998368 |
15.
Stocks
| 2024 | 2023 | ||
|---|---|---|---|
| £ | £ | ||
| Stock |
|
|
|
16.
Debtors
| Group | Company | ||||||
|---|---|---|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | ||||
| £ | £ | £ | £ | ||||
| Due within one year | |||||||
| Trade debtors |
|
|
|
|
|||
| Amounts recoverable on contracts |
|
|
|
|
|||
| Prepayments and accrued income |
|
|
|
|
|||
| Other debtors |
|
|
|
|
|||
| PAYE and NIC creditor | - | - |
|
- | |||
| Amounts owed by group undertakings | - |
|
|
|
|||
| Amounts owed by associates |
|
|
|
|
|||
|
|
|
|
|
||||
Advanced Tooling Systems (Group) Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2024
17.
Creditors: Amounts Falling Due Within One Year
| Group | Company | ||||||
|---|---|---|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | ||||
| £ | £ | £ | £ | ||||
| Net obligations under finance lease and hire purchase contracts |
|
|
|
|
|||
| Trade creditors |
|
|
( |
|
|||
| Bank loans and overdrafts |
|
|
|
|
|||
| Amounts owed to group undertakings |
|
|
|
|
|||
| Other creditors | 293,637 | 786,857 | - | - | |||
| Corporation tax |
|
|
|
|
|||
| Taxation and social security | 263,385 | 395,251 | - | 6 | |||
| Accruals and deferred income | 41,032 | 38,772 | - | - | |||
|
|
|
|
|
||||
18.
Creditors: Amounts Falling Due After More Than One Year
| Group | ||||
|---|---|---|---|---|
| 2024 | 2023 | |||
| £ | £ | |||
| Net obligations under finance lease and hire purchase contracts |
|
|
||
| Bank loans |
|
|
||
| Amounts owed to participating interests |
( |
|
||
|
|
|
|||
Of the creditors the following amounts are secured.
| Group | ||||
|---|---|---|---|---|
| 2024 | 2023 | |||
| £ | £ | |||
| Other loans | 250,000 | 350,000 | ||
National Westminster Bank plc holds an Unscheduled Mortgage Debenture dated 31st July 2003 incorporating a fixed and floating charge over all current and future assets of a subsidiary, Advanced Tooling Systems UK Ltd.
The Bank Loan is secured against the Land & Buildings at Coldred Road, Maidstone, Kent and its associated assets. The charge was created on 30th October 2007. The property is owned by Advanced Tooling Systems UK Ltd.
Advanced Tooling Systems (Group) Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2024
19.
Loans
An analysis of the maturity of loans is given below:
CBILS is denominated in sterling with a nominal interest rate of 2.62% over Base Rate, and the final instalment is due on 9 June 2027. The carrying amount at year end is £250,000 (2023 - £350,000).
| Group | ||||
|---|---|---|---|---|
| 2024 | 2023 | |||
| £ | £ | |||
| Amounts falling due within one year or on demand: | ||||
| Bank loans |
|
|
||
| Group | ||||
|---|---|---|---|---|
| 2024 | 2023 | |||
| £ | £ | |||
| Amounts falling due between one and five years: | ||||
| Bank loans |
|
|
||
20.
Obligations Under Finance Leases and Hire Purchase
| Group | ||||
|---|---|---|---|---|
| 2024 | 2023 | |||
| £ | £ | |||
| The future minimum finance lease payments are as follows: | ||||
| Not later than one year |
|
|
||
| Later than one year and not later than five years |
|
|
||
|
|
|
|||
|
|
|
|||
Obligations Under Operating leases
|
2024
|
2023
|
|
|
£
|
£
|
|
|
The future minimum lease payments are as follows:
|
||
|
Not later than one year
|
126,954
|
82,770
|
|
Later than one year and not later than five years
|
315,844
|
137,167
|
|
Later than five years
|
0
![image](data:image/svg+xml;utf8,<svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 80 2" preserveAspectRatio="none">
<line x1="0" y1="1" x2="80" y2="1" stroke="black" shape-rendering="crispEdges"/>
</svg>){kind=small}
|
4,475
|
|
442,798
![image](data:image/svg+xml;utf8,<svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 80 5" preserveAspectRatio="none">
<line x1="0" y1="1" x2="80" y2="1" stroke="black" shape-rendering="crispEdges"/>
<line x1="0" y1="4" x2="80" y2="4" stroke="black" shape-rendering="crispEdges"/>
</svg>){kind=small}
|
224,412
|
The amount of non-cancellable operating lease payments recognised as an expense during the year was £105,416 (2023 - £101,568)
Advanced Tooling Systems (Group) Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2024
21.
Deferred Taxation
The provision for deferred tax is made up as follows:
| 2024 | 2023 | ||
|---|---|---|---|
| £ | £ | ||
| Other timing differences | 208,174 | 153,769 | |
22.
Provisions for Liabilities
| Group | ||
|---|---|---|
| Deferred Tax | Total | |
| £ | £ | |
| As at 1 January 2024 |
|
153,769 |
| Utilised |
|
54,405 |
| Balance at 31 December 2024 |
|
208,174 |
24.
Pension Commitments
The group operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the group in an independently administered fund.
During the year the charge to the profit and loss account in respect of defined contribution schemes was £108,314 (2023: £66,493).
At the balance sheet date contributions of £10,271 (2023: £8,151) were due to the fund and are included in creditors.
25.
Directors Advances, Credits and Guarantees
Dividends paid to directors:
Advanced Tooling Systems (Group) Ltd
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2024
|
2024
|
2023
|
|
|
£
|
£
|
|
|
Keith Best
|
0
|
18,959
|
|
Adrian Gander
|
131,888
|
108,425
|
|
Mark Terry
|
111,563
|
83,833
|
26.
Dividends
| 2024 | 2023 | ||
|---|---|---|---|
| £ | £ | ||
| On equity shares: | |||
| Interim dividend paid |
|
|
|
27.
Controlling Parties
The company's ultimate controlling party are
the directors
by virtue of their interest in the share capital of the company.