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Registered number: 00909852 ASTON SERVICES GROUP LTD ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
ASTON SERVICES GROUP LTD COMPANY INFORMATION
Directors | P D Atkinson
| C Wisely
Registered number | 00909852
Registered office | Riding Court House
| Riding Court Road
| Datchet
| Slough
| England
| SL3 9JT
Independent auditors | Hillier Hopkins LLP
| Chartered Accountants & Statutory Auditors
| Ground Floor
| 45 Pall Mall
| London
| SW1Y 5JG
ASTON SERVICES GROUP LTD CONTENTS
| Page
Strategic report | 1 - 6
Directors' report | 7 - 8
Independent auditors' report | 9 - 12
Statement of comprehensive income | 13
Statement of financial position | 14
Statement of changes in equity | 15 - 16
Notes to the financial statements | 17 - 36
ASTON SERVICES GROUP LTD STRATEGIC REPORT FOR THE YEAR ENDED 31 DECEMBER 2024
Introduction and overview
Aston Services Group Limited is a wholly owned subsidiary of Atlas FM Group Limited. In October 2024, Atlas FM Group transitioned to an Employee Ownership Trust (EOT) model, marking a pivotal milestone in our journey and placing the future of the business in the hands of the people who make it what it is. Atlas FM Group operates as one of the largest contract cleaning companies in the UK, providing national coverage with strong local presence. This structure allows us to deliver high quality, responsive and consistent services to more than 4,000 customers across over 6,500 sites. We are proud to be part of a values driven group with a clear purpose: creating happiness for ourselves and others. Employee Ownership In October 2024, Atlas FM Group became an Employee Ownership Trust. The founders transferred ownership to the employees, ensuring the long term stewardship of the business and giving every colleague a direct stake in our shared future. This move reflects our belief that sustainable success comes when the people delivering our services are trusted, empowered and rewarded. Under the EOT model, Atlas can take a genuinely long term view, focusing on culture, quality and care, rather than short term financial gain. Employee ownership is strengthening engagement, retention and pride, and we are already seeing the cultural and commercial benefits this creates. Page 1
ASTON SERVICES GROUP LTD STRATEGIC REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
Business review
The directors are pleased to report a year of strong growth and continued progress during the year ended 31 December 2024. Overall turnover decreased to £19.0m (2023 - £20.9m); however, when related party sales are excluded, the turnover from external clients increased by £1.7m from £17.3m in 2023. Operating profit increased to £974k (2023 - £478k) as a result of improved gross margins and tight cost controls on overheads. Growth is expected to be achieved in the future through all four of our strategic channels: • securing significant new contracts across multiple sectors • delivering organic growth from our existing client base • implementing annual price increases in line with National Living Wage and inflationary pressures • successfully integrating acquired businesses into the Atlas FM Group operation These achievements demonstrate the resilience and adaptability of the business in a challenging external environment. We have maintained a strong financial position, underpinned by robust cost management and operational discipline, while continuing to invest in our people, systems and culture. The transition to employee ownership has reinforced our long term outlook and strengthened our sense of shared accountability, purpose and pride. Future Developments and Strategy The directors are confident about the future of Atlas Aston Group Limited and are excited by the opportunities ahead as part of the wider Atlas FM Group. Our strategy for 2025 and beyond is focused on five key areas: 1. Accelerating growth through acquisitions We have become industry leaders in our ability to identify, transact, integrate and create value, culturally and financially, from acquisitions. This capability has become a key differentiator for Atlas. We will continue to pursue strategic acquisitions where we can add scale, capability and cultural alignment. 2. Unlocking growth within our existing customer base We have built an outstanding growth plan which includes realising opportunities for additional services and sites across the 4,000 customers the wider group currently partner with. Alongside this, we are targeting new business within our key sectors, where our reputation for quality, performance and cultural alignment continues to give us a competitive edge. 3. Embedding a culture of high performance Our focus on culture and performance is becoming a defining strength of Atlas. We have created business plans across all areas of the business that clearly define our vision, strategies and success measures to track our journey of high performance and operational excellence. In 2025, we are introducing one to one Work Chats for all management and administration roles to develop capability, support wellbeing, and drive accountability. 4. Driving progress on ESG and social impact Our ESG team continue to lead meaningful improvements, particularly in environmental and social impact. We have 45 collaborative ESG plans in place with our largest customers and have reviewed all materials and consumables to consolidate on the most environmentally supportive products. We are also working with multiple UK charities to offer employment opportunities to disadvantaged groups including people who are homeless, refugees, and those leaving the care or prison systems. 5. Investing in technology and digital capability We continue to invest in software and technology to support growth and engagement. In 2025 we will roll out our new MyAtlas App to all employees. The app will act as an internal communications platform with built in recognition and survey tools, and will include language preferences to ensure accessibility and engagement for Page 2
ASTON SERVICES GROUP LTD STRATEGIC REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 our diverse workforce. A new CRM system will go live in 2025 to improve operational efficiency and business insight. 6. Our focus on culture as the foundation of growth While we work with detailed budgets and forecasts internally, we do not publicly disclose financial growth targets. Our unwavering focus is on nurturing an outstanding culture, grounded in our purpose and values. We believe that when our people feel connected, trusted and supported to perform at their best, both personal development and financial growth will follow. This philosophy underpins every part of our strategy and remains central to our long term vision.
Principal risks and uncertainties
The directors regularly review the risks facing the business and have established systems and controls to monitor and manage these effectively. The company operates in a competitive, low margin industry and is exposed to external and operational risks. The principal risks and uncertainties faced by the company are set out below. Wage inflation and legislative change The National Living Wage has continued to rise and remains a significant cost pressure in our industry. We have robust processes to track wage movements, model their impact and engage early with clients to negotiate price adjustments. We also monitor wider legislative changes, including the forthcoming changes to employer National Insurance from April 2025, to ensure that any financial impact is anticipated and mitigated. Credit risk As a labour intensive business, maintaining strong cash flow is critical. We have a disciplined approach to credit control, supported by close collaboration between our operational and finance teams. We maintain clear credit limits, actively monitor payment terms and ensure swift action on any emerging debtor issues. Technology and cyber risk Our reliance on digital systems is increasing as we continue to invest in technology. We manage cyber risk through robust security protocols, regular system testing, staff training, and business continuity planning. We also work closely with external IT security specialists to ensure our controls remain current and effective. Competitive pricing pressure We continue to see some competitors bidding at unsustainably low prices within tender processes. While this does not align with our values or long term approach, it can create short term pricing pressure in parts of the market. We mitigate this risk by focusing on the value we deliver through quality, culture and long term partnership, which supports high client retention and reduces exposure to price led competition. Labour availability Labour availability and recruitment are not currently considered principal risks due to our low staff turnover and the high proportion of introductions and referrals from our existing colleagues. Page 3
ASTON SERVICES GROUP LTD STRATEGIC REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
Section 172 Statement and ESG
The directors are fully aware of their duty under section 172 of the Companies Act 2006 to act, in good faith, in a way they consider would most likely promote the success of the company for the benefit of its members as a whole, while having regard to the interests of employees, customers, suppliers, the community and the environment, and the long term consequences of their decisions. This statement sets out how the board has fulfilled these responsibilities during the year ended 31 December 2024. Our People and Employee Voice The Atlas FM Group employs more than 14,000 people across the UK. In 2024 we appointed a Director of Culture and Engagement to lead our cultural journey and ensure every colleague feels connected, valued and supported. We launched Wagestream, which allows colleagues to access a portion of their earned pay, build savings and access financial wellbeing tools, helping to reduce stress and improve financial resilience. We also rolled out Work Chats across the organisation. These are structured one to one conversations between managers and their team members, powered by the OpenBlend platform, that focus on wellbeing, values and performance. They build trust, strengthen relationships and embed our culture in the pursuit of high performance. We celebrate colleagues through our Stars of Atlas recognition programme and actively track engagement through internal communications analytics and twice yearly employee Net Promoter Score surveys. In 2025 we will launch the MyAtlas app to all employees to further support engagement, recognition and communication, with language preferences to support our diverse workforce. Culture and Values Culture is our superpower. Our purpose is creating happiness for ourselves and others, and our values shape how we serve our customers and treat each other. We are implementing a Culture Belt framework to help every colleague become a Culture Black Belt, championing our values and inspiring others. Environment and Sustainability We hold ISO 14001 certification and are proud to be Ecovadis Committed and FuturePlus Impact Certified. We track and manage our ESG progress through both Ecovadis and FuturePlus, ensuring continuous improvement and transparency. In 2024 we reviewed all materials and consumables, consolidating to the most environmentally supportive products. We have 45 collaborative ESG plans in place with our largest customers. From 2025 we will begin publishing carbon footprint data and year on year reduction targets as part of our commitment to transparent environmental reporting. Social Impact and Communities We are working with multiple UK charities to offer employment opportunities to disadvantaged groups including people who are homeless, refugees and those leaving the care or prison systems. This reflects our belief that business has a vital role to play in creating opportunities and lifting communities. Suppliers and Customers We select values aligned suppliers, build long term relationships and pay suppliers promptly. We work closely with our 30 customers to understand their needs, align our services and deliver consistent quality. This approach has earned us exceptional client loyalty and long standing partnerships. Governance Aston Services Group Limited has its own board of directors, which reports to the Atlas FM Group board. The Group board oversees strategy, risk and capital allocation across all subsidiaries, while Aston Services Group’s board manages operational delivery, people and customer experience. The Group board operates under the Wates Corporate Governance Principles for large private companies. An independent EOT Trustee Board holds a controlling interest in Atlas FM Group and represents the interests of all employee owners. Page 4
ASTON SERVICES GROUP LTD STRATEGIC REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 This governance structure ensures a balance of entrepreneurial drive, cultural stewardship and financial discipline.
Key Performance Indicators (KPIs)
The directors monitor a balanced set of financial and non-financial indicators to measure the company’s performance, ensure the delivery of its strategy and support long term decision making. Our KPI framework reflects our belief that outstanding culture drives high performance. We track progress across three core pillars, loyalty, growth and wastage avoidance, supported by a broader set of operational and cultural metrics. Loyalty • Staff retention rates • Client retention rates • Employee Net Promoter Score, measured every six months • Client Net Promoter Score, measured annually Social Value and ESG • Social value delivered using the TOMS framework • Environmental progress tracked through Ecovadis and FuturePlus • Stars of Atlas nominations Health, Safety and Wellbeing • Full health and safety reporting, including near misses and RIDDOR incidents • Work Chat participation levels Culture and Engagement • Internal communication data, including number of posts and engagement levels • Engagement with the MyAtlas app from 2025 onwards Growth • Growth from within, additional services and sites from existing customers • New business growth, including pipeline size and conversion rates • Monthly client audits, measuring service standards and overall perception Financial Performance • Results tracked at contract and group level, with regular reporting on turnover, margin and profitability These KPIs are reviewed regularly by the directors and senior leadership team. They provide insight into the health and trajectory of the business, ensuring that decisions are informed by both cultural and commercial performance. Page 5
ASTON SERVICES GROUP LTD STRATEGIC REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
Going concern
The directors have considered the company’s current financial position, forecasts and cash flow projections, taking into account reasonably possible changes in trading performance and the wider economic environment. The business operates within the wider Atlas FM Group, which transitioned to employee ownership in October 2024. The Group has a strong balance sheet, a diversified customer base and a proven record of delivering sustainable growth. Aston Services Group Limited continues to generate positive cash flows from its operations and has access to appropriate financial resources and support from the Group. The company maintains a prudent approach to cost management and does not carry significant fixed cost obligations or external borrowings. After reviewing the company’s forecasts and projections, and having made appropriate enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the directors continue to adopt the going concern basis in preparing the financial statements. This report was approved by the board on 14 October 2025 and signed on its behalf.
P D Atkinson Director
Page 6
ASTON SERVICES GROUP LTD DIRECTORS' REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 The directors present their report and the financial statements for the year ended 31 December 2024.
Directors' responsibilities statement
The directors are responsible for preparing the Strategic report, the Directors' report and the financial statements in accordance with applicable law and regulations. Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period. In preparing these financial statements, the directors are required to: ∙select suitable accounting policies for the Company's financial statements and then apply them consistently; ∙make judgments and accounting estimates that are reasonable and prudent; ∙state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; ∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business. The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Results and dividends
The profit for the year, after taxation, amounted to £685,991 (2023 - £248,842). Ordinary dividends were paid amounting to £33,000 (2023 - £301,575). The directors do not recommend payment of a further dividend.
Directors
The directors who served during the year were:
I Gilston (resigned 3 September 2024)
C Gilston (resigned 3 September 2024)
D Wheeler (resigned 3 September 2024)
N Atkinson (resigned 3 September 2024)
N J Earley (appointed 3 September 2024, resigned 1 July 2025)
R W Empson (appointed 3 September 2024, resigned 1 July 2025)
P D Atkinson and C Wisely were appointed as directors on 1 July 2025. Page 7
ASTON SERVICES GROUP LTD DIRECTORS' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
Disabled person
Applications for employment by disabled persons are always fully considered, bearing in mind the aptitudes of the applicant concerned. In the event of members of staff becoming disabled, every effort is made to ensure that their employment within the company continues and that the appropriate training is arranged. It is the policy of the company that the training, career development and promotion of disabled persons should, as far as possible, be identical to that of other employees.
Employee involvement
The company's policy is to consult and discuss with employees, through unions, staff councils and at meetings, matters likely to affect employees' interests. Information about matters of concern to employees is given through information bulletins and reports which seek to achieve a common awareness on the part of all employees of the financial and economic factors affecting the company's performance. There is no employee share scheme at present, but the directors are considering the introduction of such a scheme as a means of further encouraging the involvement of employees in the company's performance. Strategic report The company has chosen in accordance with Companies Act 2006, s. 414C(11) to set out in the company's strategic report information required by Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008, Sch. 7 to be contained in the directors' report. It has done so in respect of future developments, performance review, principal and financial risks and uncertainties.
Disclosure of information to auditors
Each of the persons who are directors at the time when this Directors' report is approved has confirmed that: ∙so far as the director is aware, there is no relevant audit information of which the Company's auditors are unaware, and ∙the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditors are aware of that information.
Post balance sheet events
There have been no significant events affecting the Company since the year end.
Auditors
During the year, MacIntyre Hudson LLP resigned as auditor and the directors appointed Hillier Hopkins LLP to the position. This report was approved by the board on 14 October 2025 and signed on its behalf.
P D Atkinson Director
Page 8
ASTON SERVICES GROUP LTD INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ASTON SERVICES GROUP LTD
Opinion
We have audited the financial statements of Aston Services Group Ltd (the 'Company') for the year ended 31 December 2024, which comprise the Statement of comprehensive income, the Statement of financial position, the Statement of changes in equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: ∙give a true and fair view of the state of the Company's affairs as at 31 December 2024 and of its profit for the year then ended; ∙have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and ∙have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report. Page 9
ASTON SERVICES GROUP LTD INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ASTON SERVICES GROUP LTD (CONTINUED)
Other information
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' report thereon. The directors are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.
Opinion on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit: ∙the information given in the Strategic report and the Directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and ∙the Strategic report and the Directors' report have been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic report or the Directors' report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: ∙adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or ∙the financial statements are not in agreement with the accounting records and returns; or ∙certain disclosures of directors' remuneration specified by law are not made; or ∙we have not received all the information and explanations we require for our audit.
Responsibilities of directors
As explained more fully in the Directors' responsibilities statement set out on page 7, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the Company or to cease operations, or have no realistic alternative but to do so. Page 10
ASTON SERVICES GROUP LTD INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ASTON SERVICES GROUP LTD (CONTINUED)
Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: ∙the nature of the industry and sector, control environment and business performance including the remuneration incentives and pressures of key management; ∙the primary responsibility for the prevention and detection of fraud rests with both those charged with governance of the entity and management. We consider the results of our enquiries of management about their own identification and assessment of the risks of irregularities; ∙any matters we identified having obtained and reviewed the Company’s documentation of their policies and procedures relating to: °identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance; °detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud; °the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations; ∙the matters discussed among the audit engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud. As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override, including testing journals and evaluating whether there was evidence of bias by the directors that represented a risk of material misstatement due to fraud. We also obtained an understanding of the legal and regulatory frameworks that the Company operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. We focused on laws and regulations that could give rise to a material misstatement in the financial statements, including, but not limited to, the Companies Act 2006 and relevant tax legislation. Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Page 11
ASTON SERVICES GROUP LTD INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF ASTON SERVICES GROUP LTD (CONTINUED) Auditors' report.
Use of our report
This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed. Michael Jacoby FCA (Senior statutory auditor) for and on behalf of Hillier Hopkins LLP Chartered Accountants & Statutory Auditors Ground Floor 45 Pall Mall London SW1Y 5JG 15 October 2025 Page 12
ASTON SERVICES GROUP LTD STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 DECEMBER 2024
| 2024 | 2023
Note | £ | £
Turnover | 4 | 19,001,757 | 20,917,751
Cost of sales |  | (16,166,865) | (18,253,091)
Gross profit |  | 2,834,892 | 2,664,660
Administrative expenses |  | (1,872,543) | (2,210,117)
Other operating income | 5 | 11,830 | 23,837
Operating profit | 6 | 974,179 | 478,380
Interest receivable and similar income | 9 | - | 9,594
Interest payable and similar expenses | 10 | (52,254) | (67,687)
Profit before tax |  | 921,925 | 420,287
Tax on profit | 11 | (235,934) | (171,445)
Profit for the financial year |  | 685,991 | 248,842
Total comprehensive income for the year |  | 685,991 | 248,842
The notes on pages 17 to 36 form part of these financial statements.
Page 13
ASTON SERVICES GROUP LTD REGISTERED NUMBER: 00909852 STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2024
|  | 2024 |  | 2023
Note | £ | £ | £ | £
Fixed assets |  |  |  |  |
Intangible assets | 13 |  | 3,403 |  | 4,168
Tangible assets | 14 |  | 470,866 |  | 436,528
|  |  | 474,269 |  | 440,696
Current assets |  |  |  |  |
Stocks | 15 | 30,000 |  | 30,000 |
Debtors: amounts falling due within one year | 16 | 3,292,113 |  | 4,666,752 |
Cash at bank and in hand | 17 | 441,075 |  | 55,918 |
|  | 3,763,188 |  | 4,752,670 |
Creditors: amounts falling due within one year | 18 | (3,296,290) |  | (4,856,994) |
Net current assets/(liabilities) |  |  | 466,898 |  | (104,324)
Total assets less current liabilities |  |  | 941,167 |  | 336,372
Creditors: amounts falling due after more than one year | 19 |  | (24,800) |  | (83,778)
Provisions for liabilities |  |  |  |  |
Deferred tax |  |  | (70,990) |  | (60,208)
Net assets |  |  | 845,377 |  | 192,386
Capital and reserves |  |  |  |  |
Called up share capital | 24 |  | 100 |  | 100
Profit and loss account | 25 |  | 845,277 |  | 192,286
|  |  | 845,377 |  | 192,386
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 14 October 2025.
P D Atkinson
Director
The notes on pages 17 to 36 form part of these financial statements. Page 14
ASTON SERVICES GROUP LTD STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 DECEMBER 2024
| Called up share capital | Profit and loss account | Total equity
| £ | £ | £
At 1 January 2024 | 100 | 192,286 | 192,386
Comprehensive income for the year |  |  |
Profit for the year | - | 685,991 | 685,991
Total comprehensive income for the year | - | 685,991 | 685,991
Contributions by and distributions to owners |  |  |
Dividends: Equity capital | - | (33,000) | (33,000)
At 31 December 2024 | 100 | 845,277 | 845,377
| The notes on pages 17 to 36 form part of these financial statements.
Page 15
ASTON SERVICES GROUP LTD STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 DECEMBER 2023
| Called up share capital | Profit and loss account | Total equity
| £ | £ | £
At 1 January 2023 | 100 | 245,019 | 245,119
Comprehensive income for the year |  |  |
Profit for the year | - | 248,842 | 248,842
Total comprehensive income for the year | - | 248,842 | 248,842
Dividends: Equity capital | - | (301,575) | (301,575)
At 31 December 2023 | 100 | 192,286 | 192,386
| The notes on pages 17 to 36 form part of these financial statements.
Page 16
ASTON SERVICES GROUP LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
1. | General information
Aston Services Group Limited is a company limited by shares, incorporated in England and Wales. The address of the registered office is Riding Court House, Riding Court Road, Datchet, Slough, England, SL3 9JT. The company is specialises in provision of cleaning, security and facilities management services. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006. The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3). The following principal accounting policies have been applied:
| 2.2 | Financial Reporting Standard 102 - reduced disclosure exemptions
The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland": ∙the requirements of Section 7 Statement of Cash Flows; ∙the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d); ∙the requirements of Section 11 Financial Instruments paragraphs 11.42, 11.44 to 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c); ∙the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.27, 12.29(a), 12.29(b) and 12.29A; ∙the requirements of Section 33 Related Party Disclosures paragraph 33.7. This information is included in the consolidated financial statements of Atlas FM Group Limited as at 31 December 2024 and these financial statements may be obtained from Riding Court House, Riding Court Road, Datchet, Slough, England, SL3 9JT.
| 2.3 | Going concern
The directors have considered the financial position of the company at 31 December 2024, management information to date and forecasts for a period of 12 months from the date of signing these financial statements. Taking into account the above, they consider that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements. Page 17
ASTON SERVICES GROUP LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 2.Accounting policies (continued)
| 2.4 | Revenue
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised: Sale of goods Revenue from the sale of goods is recognised when all of the following conditions are satisfied: ∙the Company has transferred the significant risks and rewards of ownership to the buyer; ∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; ∙the amount of revenue can be measured reliably; ∙it is probable that the Company will receive the consideration due under the transaction; and ∙the costs incurred or to be incurred in respect of the transaction can be measured reliably. Rendering of services Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied: ∙the amount of revenue can be measured reliably; ∙it is probable that the Company will receive the consideration due under the contract; ∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and ∙the costs incurred and the costs to complete the contract can be measured reliably.
| 2.5 | Operating leases: the Company as lessee
Rentals paid under operating leases are charged to the Statement of comprehensive income on a straight-line basis over the lease term.
| 2.6 | Interest income
Interest income is recognised in the Statement of comprehensive income using the effective interest method.
| 2.7 | Finance costs
Finance costs are charged to the Statement of comprehensive income over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument. Page 18
ASTON SERVICES GROUP LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 2.Accounting policies (continued)
| 2.8 | Borrowing costs
All borrowing costs are recognised in the Statement of comprehensive income in the year in which they are incurred.
| 2.9 | Pensions
Defined contribution pension plan The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations. The contributions are recognised as an expense in the Statement of comprehensive income when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.
| 2.10 | Current and deferred taxation
The tax expense for the year comprises current and deferred tax. Tax is recognised in the Statement of comprehensive income except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. 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 income. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that: ∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and ∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
| 2.11 | Intangible assets
Goodwill represents the excess of the cost of acquisition of a business and is being amortised over a reduced period of five years, being the Directors' estimate of the useful economic life of the asset. Page 19
ASTON SERVICES GROUP LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 2.Accounting policies (continued)
| 2.12 | Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis. Depreciation is provided on the following basis:
|  |  |  | Plant and machinery | - | 25% reducing balance
|  |  |  | Motor vehicles | - | 25% reducing balance
|  |  |  | Fixtures, fittings & equipment | - | 25% reducing balance
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of comprehensive income.
| 2.13 | Impairment of fixed assets
At each reporting period end date. the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.
| 2.14 | Stocks
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads. At each reporting date, stocks are assessed for impairment. If stock is 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. Page 20
ASTON SERVICES GROUP LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 2.Accounting policies (continued)
| 2.15 | Debtors
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
| 2.16 | Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
| 2.17 | Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
| 2.18 | Provisions for liabilities
Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made. Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties. Increases in provisions are generally charged as an expense to profit or loss.
| 2.19 | Financial instruments
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments. Financial instruments are recognised in the Company's Statement of financial position when the Company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Basic financial assets Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments. Page 21
ASTON SERVICES GROUP LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 2.Accounting policies (continued)
| 2.19 | Financial instruments (continued)
Other financial assets Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment. Impairment of financial assets At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss. Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate. If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss. Basic financial liabilities Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities. Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial. Debt instruments are subsequently carried at their amortised cost using the effective interest rate method. Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial. Other financial instruments Page 22
ASTON SERVICES GROUP LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 2.Accounting policies (continued)
| 2.19 | Financial instruments (continued)
Derivatives, including forward exchange contracts, futures contracts and interest rate swaps, are not classified as basic financial instruments. These are initially recognised at fair value on the date the derivative contract is entered into, with costs being charged to the profit or loss. They are subsequently measured at fair value with changes in the profit or loss. Debt instruments that do not meet the conditions as set out in FRS 102 paragraph 11.9 are subsequently measured at fair value through the profit or loss. This recognition and measurement would also apply to financial instruments where the performance is evaluated on a fair value basis as with a documented risk management or investment strategy. Derecognition of financial instruments Derecognition of financial assets Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained. Derecognition of financial liabilities Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.
| 2.20 | Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting. Page 23
ASTON SERVICES GROUP LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
3. | Judgments in applying accounting policies and key sources of estimation uncertainty
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions ta accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. Critical judgements The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements. Trade debtor recoverability At each balance sheet date, management undertake an assessment of the recoverability of trade debtors based upon their knowledge of the customers, ageing of the balances outstanding and previous write off history. Where necessary, an impairment is recorded as a doubtful debt. The actual level of debt collected may differ from the estimated level of recovery. Key sources of estimation uncertainty The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows. Depreciation of fixed assets The depreciation rate used for fixed assets owned by the business is management's best estimate at acquisition of the useful economic life of each asset type held by the business. Upon disposal, the profit or loss on each asset is recognised in the profit and loss account in the year of disposal. Management review these figures on a global basis to ensure that assets are not being under- or over-depreciated.
4. | Turnover
| An analysis of the company's turnover is as follows:
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Revenue from rendering of services | 19,001,757 | 17,315,045
| Recharges to related companies | - | 3,602,706
|  | 19,001,757 | 20,917,751
Page 24
ASTON SERVICES GROUP LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
5. | Other operating income
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Other operating income | 11,830 | 23,837
|  | 11,830 | 23,837
6. | Operating profit
| The operating profit is stated after charging:
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Depreciation of tangible fixed assets held under finance leases | 17,355 | 18,349
| Depreciation of owned tangible fixed assets | 129,111 | 148,216
| (Profit)/loss on disposal of tangible fixed assets | (1,490) | (5,219)
| Amortisation of intangible assets | 765 | 1,042
| Operating lease charges | 110,314 | 105,763
7. | Auditors' remuneration
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Fees payable to the Company's auditors for the audit of the Company's financial statements | 12,500 | 15,900
| The Company has taken advantage of the exemption not to disclose amounts paid for non-audit services as these are disclosed in the consolidated accounts of the parent Company.
Page 25
ASTON SERVICES GROUP LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
| Employees
| Staff costs, including directors' remuneration, were as follows:
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Wages and salaries | 8,272,658 | 11,881,298
| Social security costs | 1,064,869 | 937,456
| Cost of defined contribution scheme | 249,824 | 244,367
|  | 9,587,351 | 13,063,121
| The average monthly number of employees, including the directors, during the year was as follows:
|  |  | 2024 | 2023
|  |  | No. | No.
|  | Directors | 4 | 4
|  | Administrative & office staff | 13 | 13
|  | Operatives & office staff | 667 | 666
|  |  | 684 | 683
8. | Directors' remuneration
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Directors' emoluments | 135,414 | 222,997
| Company contributions to defined contribution pension schemes | 1,761 | 2,627
|  | 137,175 | 225,624
| During the year retirement benefits were accruing to 2 directors (2023 - 2) in respect of defined contribution pension schemes.
| The highest paid director received remuneration of £70,524 (2023 - £106,486).
Page 26
ASTON SERVICES GROUP LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
9. | Interest receivable
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Other interest receivable | - | 9,594
|  | - | 9,594
10. | Interest payable and similar expenses
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Bank interest payable | 11,155 | 16,471
| Other loan interest payable | 37,407 | 49,368
| Finance leases and hire purchase contracts | 1,778 | 1,848
| Other interest payable | 1,914 | -
|  | 52,254 | 67,687
11. | Taxation
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Corporation tax |  |
| Current tax on profits for the year | 225,152 | 184,295
|  | 225,152 | 184,295
| Total current tax | 225,152 | 184,295
| Deferred tax |  |
| Origination and reversal of timing differences | 10,782 | (12,850)
| Total deferred tax | 10,782 | (12,850)
|  | 235,934 | 171,445
Page 27
ASTON SERVICES GROUP LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 11.Taxation (continued)
| Factors affecting tax charge for the year
| The tax assessed for the year is higher than (2023 - higher than) the standard rate of corporation tax in the UK of 25% (2023 - 23.52%). The differences are explained below:
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Profit on ordinary activities before tax | 921,925 | 420,287
| Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2023 - 23.52%) | 230,481 | 98,852
| Effects of: |  |
| Tax effect of expenses that are not deductible in determining taxable profit | 7,872 | 74,231
| Tax effect of income not taxable in determining taxable profit | - | (877)
| Effect of change in corporation tax rate | - | (761)
| Capital allowances for year in excess of depreciation | (14,252) | -
| Other timing difference | 1,051 | -
| Deferred tax adjustment | 10,782 | -
| Total tax charge for the year | 235,934 | 171,445
| Factors that may affect future tax charges
There are no significant factors which may materially affect future tax charges.
12. | Dividends
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Dividends paid | 33,000 | 301,575
|  | 33,000 | 301,575
Page 28
ASTON SERVICES GROUP LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
13. | Intangible assets
|  | Goodwill
|  | £
| Cost |
| At 1 January 2024 | 203,363
| At 31 December 2024 | 203,363
| Amortisation |
| At 1 January 2024 | 199,195
| Charge for the year | 765
| At 31 December 2024 | 199,960
| Net book value |
| At 31 December 2024 | 3,403
| At 31 December 2023 | 4,168
Page 29
ASTON SERVICES GROUP LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
14. | Tangible fixed assets
|  | Plant and machinery | Motor vehicles | Fixtures, fittings & equipment | Total
|  | £ | £ | £ | £
| Cost or valuation |  |  |  |
| At 1 January 2024 | 553,672 | 390,643 | 142,697 | 1,087,012
| Additions | 101,646 | 58,333 | 12,280 | 172,259
| Disposals | - | - | (27,090) | (27,090)
| At 31 December 2024 | 655,318 | 448,976 | 127,887 | 1,232,181
| Depreciation |  |  |  |
| At 1 January 2024 | 329,536 | 220,082 | 100,866 | 650,484
| Charge for the year | 72,759 | 41,946 | 14,406 | 129,111
| Disposals | - | - | (18,280) | (18,280)
| At 31 December 2024 | 402,295 | 262,028 | 96,992 | 761,315
| Net book value |  |  |  |
| At 31 December 2024 | 253,023 | 186,948 | 30,895 | 470,866
| At 31 December 2023 | 224,136 | 170,561 | 41,831 | 436,528
| The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Motor vehicles | 22,095 | 69,418
|  | 22,095 | 69,418
Page 30
ASTON SERVICES GROUP LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
15. | Stocks
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Finished goods and goods for resale | 30,000 | 30,000
|  | 30,000 | 30,000
16. | Debtors
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Trade debtors | 2,969,120 | 3,867,016
| Other debtors | 103,453 | 643,426
| Prepayments and accrued income | 219,540 | 156,310
|  | 3,292,113 | 4,666,752
17. | Cash and cash equivalents
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Cash at bank and in hand | 441,075 | 55,918
|  | 441,075 | 55,918
Page 31
ASTON SERVICES GROUP LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
18. | Creditors: Amounts falling due within one year
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Bank loans | 55,556 | 55,556
| Trade creditors | 449,177 | 484,584
| Corporation tax | 272,327 | 184,352
| Other taxation and social security | 1,172,069 | 1,067,826
| Obligations under finance lease and hire purchase contracts | 4,604 | 26,513
| Other creditors | 1,265,710 | 2,860,356
| Accruals and deferred income | 76,847 | 177,807
|  | 3,296,290 | 4,856,994
| Included within creditors due within one year is a hire purchase liability which is secured over the assets to which they relate. Included within other creditors due within one year is invoice financing of £Nil (2023 - £1,086,202) secured over the trade debtors of the company. Included within bank loans due within one year £55,556 (2023 - £55,556) is a CBILs loan which is secured 80% by the Government and is also secured over the assets of the company and a guarantee provided by a company under common control.
19. | Creditors: Amounts falling due after more than one year
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Bank loans | 9,800 | 68,256
| Net obligations under finance leases and hire purchase contracts | 15,000 | 15,522
|  | 24,800 | 83,778
| Included within creditors due after more than one year is a hire purchase liability which is secured over the assets to which they relate. Included within bank loans due after more than one year £9,800 (2023 - £68,256) is a CBILs loan which is secured 80% by the Government and is also secured over the assets of the company and a guarantee provided by a company under common control.
Page 32
ASTON SERVICES GROUP LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
20. | Loans
| Analysis of the maturity of loans is given below:
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Amounts falling due within one year |  |
| Bank loans | 55,556 | 55,556
|  | 55,556 | 55,556
| Amounts falling due 1-2 years |  |
| Bank loans | 9,800 | 68,256
|  | 9,800 | 68,256
|  | 65,356 | 123,812
21. | Hire purchase and finance leases
| Minimum lease payments under hire purchase fall due as follows:
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Within one year | 4,604 | 26,513
| Between 1-5 years | 15,000 | 15,522
|  | 19,604 | 42,035
| Finance lease payments represent rentals payable by the company for certain motor vehicles and items of plant and machinery. Leases include purchase options at the end of the lease period, and no restrictions are placed on the use of the assets. The average lease term is 3 years. All leases are on a fixed repayment basis and no arrangements have been entered into for contingent rental payments.
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ASTON SERVICES GROUP LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
22. | Financial instruments
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Financial assets |  |
| Financial assets measured at fair value through profit or loss | 441,075 | 55,918
| Financial assets measured at fair value through profit or loss comprise cash at bank and in hand.
23. | Deferred taxation
|  | 2024
|  | £
| At beginning of year | 60,208
| Charged to profit or loss | (10,782)
| At end of year | 70,990
| The provision for deferred taxation is made up as follows:
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Accelerated capital allowances | 60,208 | 73,058
| Tax losses carried forward | 10,782 | (12,850)
|  | 70,990 | 60,208
| The deferred tax liability set out above is expected to reverse within 3 years and relates to accelerated capital allowances. tax losses and other short term timing differences that are expected to mature within the same period.
24. | Share capital
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
|  | Allotted, called up and fully paid |  |
|  | 100 Ordinary shares of £1 each | 100 | 100
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ASTON SERVICES GROUP LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
25. | Reserves
Profit and loss account The profit and loss account includes all current and prior period retained profits and losses.
26. | Pension commitments
The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £249,824 (2023 - £244,367). Contributions totalling £81,257 (2023 - £111,320) were payable at the reporting date.
27. | Commitments under operating leases
| At 31 December 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:
|  |  |  |  | 2024 | 2023
|  |  |  |  | £ | £
| Not later than 1 year | 21,352 | 21,352
| Later than 1 year and not later than 5 years | 4,484 | 25,836
|  | 25,836 | 47,188
28. | Related party transactions
| The Company has taken advantage of the exemption in FRS 102 Section 33: Related party disclosures from the requirement to disclose transactions with other wholly owned group companies on the grounds that consolidated financial statements are prepared by the ultimate parent company. An advance or credit of £429,471 granted by the company to a former director was repaid during the year. Another advance or credit of £40,651 granted by the company to a former director was repaid during the year. Another advance or credit of £101,535 granted by the company to a former director was repaid during the year.
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ASTON SERVICES GROUP LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
29. | Controlling party
The company is a wholly owned subsidiary of Hardy Group Limited, a company incorporated in England and Wales, which is the immediate parent company. Up to 3 September 2024, the ultimate parent company was Hardy Group Limited. From 3 September 2024, the ultimate parent company has been Atlas FM Group Limited. Atlas FM Group Limited is incorporated in England & Wales and has prepared group accounts for the year ended 31 December 2024. Consolidated amounts for Atlas FM Group are available from Riding Court House, Riding Court Road, Datchet, Slough, England, SL3 9JT. This is the only company in the group which prepares consolidated accounts. Up to 3 September 2024, the ultimate controlling party was the former director, Mr I Gilston. From 3 September 2024 to 29 October 2024, the ultimate controlling parties were N J Earley and R W Empson, the former directors. From 29 October 2024, the Atlas FM Group Employee Ownership Trust purchased 100% of Atlas FM Group Limited, to become the ultimate controlling party. The ultimate controlling party subsequently became Zedra Trust Company (Guernsey) Limited, which is the trustee of Atlas FM Group Employee Ownership Trust.
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