Amalgamated Environmental Services (AES) Limited 31/12/2024 iXBRL

Company registration number: NI026732

Amalgamated Environmental Services (AES) Limited

Unaudited filleted abridged financial statements

31 December 2024

Amalgamated Environmental Services (AES) Limited

Contents

Directors and other information

Accountants report

Abridged statement of financial position

Notes to the financial statements

Amalgamated Environmental Services (AES) Limited

Directors and other information


	Directors
		Mr. Timothy Alexander Dundee
		Mr. Colin James Johnston
		Mr. Paul Thomas McEvoy
		Mr. Alistair Derek Bushe


	Secretary	Mr. Paul Thomas McEvoy


	Company number	NI026732


	Registered office	Chamber of Commerce House
		22 Great Victoria Street
		Belfast
		BT2 7BA


	Business address	Unit 4
		Ravenhill Business Park
		Ravenhill Road
		Belfast
		BT6 8AW


	Accountants	Hill Vellacott
		22 Great Victoria Street
		Belfast
		BT2 7BA




	Bankers	Bank of Ireland
		University Road
		Belfast
		BT7 1NH

Report to the board of directors on the preparation of the

unaudited statutory financial statements of Amalgamated Environmental Services (AES) Limited

Year ended 31 December 2024

In accordance with the engagement letter dated 22 December 2025, and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of the company for the year ended 31 December 2024 which comprise the abridged statement of financial position and related notes from the company's accounting records and information and explanations you have given us.

As a practising member firm of Chartered Accountants Ireland , we are subject to its ethical and other professional requirements detailed at www.charteredaccountants.ie/Professional-Standards/Home.

This report is made solely to the Company's Board of Directors, as a body, in accordance with the terms of our engagement. Our work has been undertaken so that we might compile the financial statements that we have been engaged to compile, report to the Company's Board of Directors that we have done so, and state those matters that we have agreed to state to them in this 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 Board of Directors, as a body, for our work, or for this report.

We have carried out this engagement in accordance with guidance issued by Chartered Accountants Ireland and have complied with the relevant ethical guidance laid down by Chartered Accountants Ireland.

You have acknowledged on the balance sheet for the year ended 31 December 2024 your duty to ensure that the company has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the company is exempt from the statutory requirement for an audit for the year.

We have not been instructed to carry out an audit of the financial statements. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.

Hill Vellacott 23 December 2025

Chartered accountants

22 Great Victoria Street

Belfast

BT2 7BA

Amalgamated Environmental Services (AES) Limited

Abridged statement of financial position

31 December 2024

As restated

		2024		2023
	Note	£	£	£	£

Fixed assets
Tangible assets	6	110,197		109,411
		_______		_______
			110,197		109,411

Current assets
Stocks		313,233		292,818
Debtors		2,950,600		3,161,685
Cash at bank and in hand		6,034		19,384
		_______		_______
		3,269,867		3,473,887
Creditors: amounts falling due
within one year		( 1,179,750)		( 1,162,432)
		_______		_______
Net current assets			2,090,117		2,311,455
			_______		_______
Total assets less current liabilities			2,200,314		2,420,866


Provisions for liabilities			( 25,932)		( 25,932)

			_______		_______
Net assets			2,174,382		2,394,934
			_______		_______

Capital and reserves
Called up share capital			3		3
Profit and loss account			2,174,379		2,394,931
			_______		_______
Shareholders funds			2,174,382		2,394,934
			_______		_______

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.

Directors responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

All of the members have consented to the preparation of the abridged statement of financial position for the current year ending 31 December 2024 in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements were approved by the board of directors and authorised for issue on 23 December 2025 , and are signed on behalf of the board by:

Mr. Paul Thomas McEvoy

Director

Company registration number: NI026732

Amalgamated Environmental Services (AES) Limited

Notes to the financial statements

Year ended 31 December 2024

1. General information

The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is Amalgamated Environmental Services ( AES) Limited, Chamber of Commerce House, 22 Great Victoria Street, Belfast, BT2 7BA.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Significant judgementsThere are no judgments (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies that have a significant effect on the amounts recognised in the financial statements.Key sources of estimation uncertaintyAccounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. There are no key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Tangible assets

tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:


Plant and machinery	-	20 %	reducing balance
Fittings fixtures and equipment	-	20 %	reducing balance
Motor vehicles	-	25 %	reducing balance

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates .

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 36 (2023: 36 ).

5. Exceptional items

The exceptional item in the profit and loss account relates to fraud perpetrated in the current year and identified post year end.

6. Tangible assets


		£
	Cost
	At 1 January 2024	644,421
	Additions	30,422
	Disposals	( 10,000)
		_______
	At 31 December 2024	664,843
		_______
	Depreciation
	At 1 January 2024	535,010
	Charge for the year	29,167
	Disposals	( 9,531)
		_______
	At 31 December 2024	554,646
		_______
	Carrying amount
	At 31 December 2024	110,197
		_______
	At 31 December 2023	109,411
		_______

7. Creditors: amounts falling due after more than one year

The bank facility is secured by: -a debenture charging all of the assets and undertaking of the Borrower; -an assignment of the Aviva life policy on the life of Mr Colin Johnston with cover in the sum of £500,000 -a joint and several guarantee and indemnity from Mr Colin Johnston and Mr Paul McEvoy with the principal amount recoverable thereunder being capped at £100,000 -an intercreditor agreement subordinating all directors' shareholders' and third party loans, and the security therefor, to the amount due to the Bank; and -the unlimited cross-guarantee from AES-Marconi Limited and the Borrower in favour of the Bank. The Cross-Guarantee is counter-covered by: - a debenture charging all of the assets and undertaking of AES-Marconi Limited; - an assignment of the Aviva life policy on the life of Mr Paul McEvoy with cover in the sum of £500, 000; and - a joint and several guarantee and indemnity from Mr Colin Johnston and Mr Paul McEvoy in respect of the liabilities of AES-Marconi Limited with the principal amount recoverable thereunder being capped at

8. Prior period errors

The company identified a misappropriation of funds occuring over a period of time and this has been treated as a prior period error.Opening reserves for 2024 have been restated by £71,722 to reflect the cumulative impact of fraud prior to that year and comparatives have been amended to increase trade creditors.

9. Related party transactions

The company has the following related party transactions:The company is related to AES Marconi Limited, as AES Marconi Limited hold 100% of the issued shares in the company. There was £34 paid in the year on behalf of AES Marconi Limited. At the balance sheet date the amount owed to the company by AES Marconi Limited was £1,683,204 (2023 - £1,683,170). The loan is unsecured and interest free.

10. Controlling party

The company is controlled by the directors.

11. Ultimate parent undertaking

AES-Marconi Limited, a private limited company incorporated in Northern Ireland, owns 100% of the issued share capital of the company and is the ultimate parent company. The registered office address of the company is Chamber of Commerce House, 22 Great Victoria Street, Belfast BT2 7BA.