Assigns Associates Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

Registered number: 07488995

		31 December 2024		31 December 2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		77,773		106,011
Investment Properties	5		230,000		230,000

			307,773		336,011
CURRENT ASSETS
Debtors	6	303,521		277,918
Cash at bank and in hand		6,966		275

		310,487		278,193
Creditors: Amounts Falling Due Within One Year	7	(233,586 )		(165,350 )

NET CURRENT ASSETS (LIABILITIES)			76,901		112,843

TOTAL ASSETS LESS CURRENT LIABILITIES			384,674		448,854

Creditors: Amounts Falling Due After More Than One Year	8		(57,498 )		(151,278 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(23,134 )		(17,915 )

NET ASSETS			304,042		279,661

CAPITAL AND RESERVES
Called up share capital	10		2		2
Fair value reserve	11		44,838		44,838
Profit and Loss Account			259,202		234,821

SHAREHOLDERS' FUNDS			304,042		279,661

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Assigns Associates Limited

Balance Sheet (continued)

As At 31 December 2024

For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr Nick Cole

Director

23/12/2025

The notes on pages 3 to 6 form part of these financial statements.

1. General Information

Assigns Associates Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07488995 . The registered office is Jubilee House , Jubilee Road, Letchworth Garden City, SG6 1WU.

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 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. 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.

2.3. 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:

Plant & Machinery	20% Straight Line
Motor Vehicles	20% Straight Line
Fixtures & Fittings	15% Straight Line

2.4. Investment Properties

All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.

2.5. 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 company. 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.

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Assigns Associates Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

2.6. 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 company'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.

3. Average Number of Employees

Average number of employees, including directors, during the year was: NIL (2023: NIL)

4. Tangible Assets

	Plant & Machinery etc.
	£
Cost
As at 1 January 2024	175,086

As at 31 December 2024	175,086

Depreciation
As at 1 January 2024	69,075
Provided during the period	28,238

As at 31 December 2024	97,313

Net Book Value
As at 31 December 2024	77,773

As at 1 January 2024	106,011

Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:

	31 December 2024	31 December 2023
	£	£
Plant & Machinery	71,865	92,205

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Assigns Associates Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

5. Investment Property

	31 December 2024
	£
Fair Value
As at 1 January 2024 and 31 December 2024	230,000

Fairvalue at 31 December 2024 is represented by:

Cost £174,645

2018 Revaluation £ 55,355

Current valuation £230,000

6. Debtors

	31 December 2024	31 December 2023
	£	£
Due within one year
Trade debtors	216,521	170,927
Other debtors	87,000	106,991

	303,521	277,918

7. Creditors: Amounts Falling Due Within One Year

	31 December 2024	31 December 2023
	£	£
Net obligations under finance lease and hire purchase contracts	29,880	-
Trade creditors	-	6,750
Bank loans and overdrafts	16,700	-
Assigns Ltd Loan	45,204	77,002
Other creditors	119,306	79,373
Taxation and social security	22,496	2,225

	233,586	165,350

8. Creditors: Amounts Falling Due After More Than One Year

	31 December 2024	31 December 2023
	£	£
Net obligations under finance lease and hire purchase contracts	9,030	68,790
Bank loans	48,468	82,488

	57,498	151,278

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Assigns Associates Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

9. Obligations Under Finance Leases and Hire Purchase

	31 December 2024	31 December 2023
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	29,880	-
Later than one year and not later than five years	9,030	68,790

	38,910	68,790

	38,910	68,790

10. Share Capital

	31 December 2024	31 December 2023
	£	£
Allotted, Called up and fully paid	2	2

11. Reserves

	Fair Value Reserve
	£
As at 1 January 2024	44,838

As at 31 December 2024	44,838

12. Related Party Transactions

N Cole is a director if this company, Assigns Ltd (AL), Benchmark Fabrications Ltd (BF) and Specialist Aviation Manufacturing Ltd (SAM).

During the year, the company charged rent to AL of £55,908 (2023: £15,745) which included arrears of £40,163. At the balance sheet date there was a loan liability outstanding of £45,204 (2023: £77,002).

During the year, the company received loan repayments from SAM of £9,000 (2023: £56,000). At the balance sheet date there was a loan outstanding due to the company of £27,000 (2023: £36,000).

At the balance sheet date there is a loan debtor of £60,000 (2023: £60,000) from BF.

During the year a management charge was made from BF to the company for £41,378 which is shown in other creditors in the accounts.

The above loans are interest free and repayable upon demand.

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