AES-Marconi Limited 31/12/2024 iXBRL

Company registration number: NI603948

AES-Marconi Limited

Unaudited filleted abridged financial statements

31 December 2024

AES-Marconi Limited

Contents

Directors and other information

Accountants report

Abridged statement of financial position

Notes to the financial statements

AES-Marconi Limited

Directors and other information


	Directors	Paul T McEvoy
		Colin J Johnston
		Timothy A Dundee


	Secretary	Paul T McEvoy


	Company number	NI603948


	Registered office	Chamber of Commerce House
		22 Great Victora 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
		1 Donegal Square South
		Belfast
		BT1 5LR

AES-Marconi Limited

Report to the board of directors on the preparation of the

unaudited statutory financial statements of AES-Marconi Limited

Year ended 31 December 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of AES-Marconi Limited 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 from information and explanations you have given us.

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

This report is made solely to the board of directors of AES-Marconi Limited, as a body, in accordance with the terms of our engagement letter dated 22 December 2025. Our work has been undertaken solely to prepare for your approval the financial statements of AES-Marconi Limited and state those matters that we have agreed to state to the board of directors of AES-Marconi Limited as a body, in this report in accordance with the requirements of the Institute of Chartered Accountants Ireland as detailed at www.charteredaccountants.ie. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than AES-Marconi Limited and its board of directors as a body for our work or for this report.

It is your duty to ensure that AES-Marconi Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of AES-Marconi Limited. You consider that AES-Marconi Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of AES-Marconi Limited. 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 statutory financial statements.

Hill Vellacott

Chartered accountants

22 Great Victoria Street

Belfast

BT2 7BA

22 December 2025

AES-Marconi Limited

Abridged statement of financial position

31 December 2024

		2024		2023
	Note	£	£	£	£

Fixed assets
Investments	5	3,318,499		3,318,499
		_______		_______
			3,318,499		3,318,499

Current assets
Debtors		100		100
		_______		_______
		100		100
Creditors: amounts falling due
within one year	6	( 4,442,222)		( 4,364,857)
		_______		_______
Net current liabilities			( 4,442,122)		( 4,364,757)
			_______		_______
Total assets less current liabilities			( 1,123,623)		( 1,046,258)

Creditors: amounts falling due
after more than one year	7		( 100,000)		( 100,000)
			_______		_______
Net liabilities			( 1,223,623)		( 1,146,258)
			_______		_______

Capital and reserves
Called up share capital			100		100
Profit and loss account			( 1,223,723)		( 1,146,358)
			_______		_______
Shareholders deficit			( 1,223,623)		( 1,146,258)
			_______		_______

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 22 December 2025 , and are signed on behalf of the board by:

Paul T McEvoy

Director

Company registration number: NI603948

AES-Marconi 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 c/o Hill Vellacott, Chamber of Commerce House, 22 Great Victora Street, Belfast, BT2 7BA.

The principal activity of the company is that of a holding company.

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.

Going concern

The company incurred a loss for the year of £77,365 and has a deficiency of net assets at 31 December 2024 of £1,223,723 Included within creditors are director's loan accounts of £1,679,361. The company is dependent on the continued support of the directors and shareholders. The directors and shareholders have indicated that they will not seek repayments of the amounts due to them until the company has the ability to do so. In the light of the above, the directors consider it appropriate to prepare the financial statements on the going concern basis.

Consolidation

The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.

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.

Fixed asset investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

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 .

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.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 3 (2023: 3 ).

5. Investments


		£
	Cost
	At 1 January 2024 and 31 December 2024	3,318,499
		_______
	Impairment
	At 1 January 2024 and 31 December 2024	-
		_______
	Carrying amount
	At 31 December 2024	3,318,499
		_______
	At 31 December 2023	3,318,499
		_______

6. Creditors: amounts falling due within one year

Creditors include secured creditors totalling £0 (2023: £0).

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

Creditors include secured creditors totalling £0 (2023: £0). Secured creditors comprising bank loan and overdraft are secured by: - a debenture charging all of the assets and undertakings of the Borrower and Amalgamated Environmental Services (AES) Limited; - a guarantee and indemnity from Colin Johnston and Paul McEvoy in the sum of £755,000; - a cross-guarantee from each of AES-Marconi Limited and Amalgamated Environmental Services (AES) Limited; - assignment of the Debtor Book; - a subordination agreement to be entered into by the Directors in respect of repayment of Directors' Loans; - a subordination agreement to be entered into by the Preference Shareholder in respect of repayment of Preference Shareholding; and - keyman cover in the amount of £500,000 on the lives of Colin Johnston and Paul McEvoy.

8. Directors advances, credits and guarantees

	Balance brought forward and o/standing	Balance brought forward and o/standing
	2024	2023
	£	£
Paul T McEvoy	230,361	230,361
Colin J Johnston	466,500	466,500
Timothy A Dundee	982,500	982,500
	_______	_______
	1,679,361	1,679,361
	_______	_______

9. Related party transactions

The company had the following related party transactions:During the year company director Paul McEvoy made no advances and received no repayments against his loan to the company. At the balance sheet date the amount owed to Paul McEvoy was £230,361 (2023: £230,361). In the year the company incurred interest charges of £7,170 (2023: £7,170) in relation to the directors loan balance of £230,361 and at present the interest incurred remains unpaid. The first £100,000 of the loan is interest free and the remaining balance is charged interest at the rate of 5.5% per annum. The loan is unsecured and repayable upon demand.During the year company director Colin Johnston made no advances or received no repayments against his loan to the company. At the balance sheet date the amount owed to Colin Johnston was £466,500 (2023: £466,500). In the year the company incurred interest charges of £20,158 (2023: £20,158) in relation to the directors loan balance of £466,500 and at present the interest incurred remains unpaid. The first £100,000 of the loan is interest free and the remaining balance is charged interest at the rate of 5.5% per annum. The loan is unsecured and repayable upon demand.During the year company director Timothy Dundee made no advances and received no repayments against his loan to the company. At the balance sheet date the amount owed to Timothy Dundee was £982,500 (2023: £982,500). In the year the company incurred interest charges of £50,037 (2023: £50,037) in relation to the directors loan balance of £982,500 and at present the interest incurred remains unpaid. The first £800,000 is charged interest at the rate of 5.0% per annum with the remaining balance of £182,500 being charged interest at the rate of 5.5% per annum. The loan is unsecured and repayable upon demand.The company is a parent undertaking of Amalgamated Environmental Services (AES) Limited, by way of a 100% shareholding in the company. During the year Amalgamated Environmental Services (AES) Limited paid £100,000 on behalf of the company. At the Balance Sheet date the amount owed to Amalgamated Environmental Services (AES) Limited was £1,683,170 (2023: £1,683,170). The loan is unsecured and interest free.

10. Controlling party

The company is controlled by the directors .