General Information
A.S. Scientific Products Limited is a private company, limited by shares , registered in England and Wales , registration number 01289082 , registration address 2 Barton Lane, Abingdon Science Park, Abingdon, Oxfordshire, OX14 3NB.
The presentation currency is £ sterling.
| 1. |
Accounting policies
Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company's activities. Turnover is shown as sales net of value added tax, returns, rebates and discounts.
The company recognises revenue when:
the amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using 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.
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Current and deferred tax assets and liabilities are not discounted.
Dividends
Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
| Plant and Machinery |
10% Straight Line
|
| Motor Vehicles |
33% Straight Line
|
| Factory Fittings |
10% Straight Line
|
| Computer & Office Equipment |
10% & 20% Straight Line
|
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
|
| 2. |
Average number of employees
Average number of employees during the year was 47 (2024 : 48).
|
| 3. |
Tangible fixed assets
| Cost or valuation |
Plant and Machinery |
|
Motor Vehicles |
|
Factory Fittings |
|
Computer & Office Equipment |
|
Total |
| |
£ |
|
£ |
|
£ |
|
£ |
|
£ |
| At 01 December 2024 |
692,633 |
|
148,609 |
|
54,827 |
|
187,185 |
|
1,083,254 |
| Additions |
21,291 |
|
86,400 |
|
- |
|
1,710 |
|
109,401 |
| Disposals |
(31,500) |
|
(64,000) |
|
- |
|
- |
|
(95,500) |
| At 30 November 2025 |
682,424 |
|
171,009 |
|
54,827 |
|
188,895 |
|
1,097,155 |
| Depreciation |
| At 01 December 2024 |
663,983 |
|
118,557 |
|
37,114 |
|
161,231 |
|
980,885 |
| Charge for year |
7,633 |
|
43,826 |
|
2,905 |
|
9,904 |
|
64,268 |
| On disposals |
(31,500) |
|
(64,000) |
|
- |
|
- |
|
(95,500) |
| At 30 November 2025 |
640,116 |
|
98,383 |
|
40,019 |
|
171,135 |
|
949,653 |
| Net book values |
| Closing balance as at 30 November 2025 |
42,308 |
|
72,626 |
|
14,808 |
|
17,760 |
|
147,502 |
| Opening balance as at 01 December 2024 |
28,649 |
|
30,052 |
|
17,101 |
|
25,954 |
|
101,756 |
|
| 4. |
Stocks
|
2025
£ |
|
2024
£ |
| Work in Progress |
693,377 |
|
852,251 |
| Stock |
216,280 |
|
179,997 |
|
909,657 |
|
1,032,248 |
|
| 5. |
Debtors: amounts falling due within one year
|
2025
£ |
|
2024
£ |
| Trade Debtors |
1,055,207 |
|
500,258 |
| Prepayments & Accrued Income |
10,162 |
|
18,714 |
| Other Debtors |
1,004 |
|
1,870 |
|
1,066,373 |
|
520,842 |
|
| 6. |
Creditors: amount falling due within one year
|
2025
£ |
|
2024
£ |
| Trade Creditors |
233,052 |
|
211,139 |
| Corporation Tax |
121,367 |
|
144,622 |
| PAYE & Social Security |
47,936 |
|
96,381 |
| Accrued Expenses |
734,759 |
|
934,573 |
| Other Creditors |
1,781,074 |
|
1,707,433 |
| VAT |
46,038 |
|
81,218 |
|
2,964,226 |
|
3,175,366 |
|
| 7. |
Provisions for liabilities
|
2025
£ |
|
2024
£ |
| Deferred Tax |
5,911 |
|
836 |
| Charged to Profit & Loss |
937 |
|
5,075 |
| Pension Provisions |
4,641 |
|
- |
|
11,489 |
|
5,911 |
|
| 8. |
Share Capital
Allotted, called up and fully paid
|
2025
£ |
|
2024
£ |
|
5,000
Class A shares of £1.00 each |
5,000 |
|
5,000 |
|
5,000 |
|
5,000 |
|
| 9. |
Financial commitments, guarantees and contingencies
Other commitments
At the balance sheet date the company had commitments under non-cancellable operating leases, over the remaining life of those leases of £144,167 (2024 - £317,167).
Bank guarantees
During the year the bank guaranteed funds of behalf of the company. At the balance sheet date the amount held by the bank was £75,000 (2024 - £75,000).
|
| 10. |
Summary of transactions with parent
The company has taken advantage of the exemption available per paragraph 33.1A of FRS 102 whereby it has not disclosed transactions with the ultimate parent company or any wholly owned subsidiary of the group.
|
2
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