REGISTERED NUMBER: 09051173 (England and Wales)

Unaudited Financial Statements for the Year Ended 31st March 2026

for

AVE (1977) Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr J Licence

Ms S M Gil-Garcia

REGISTERED OFFICE:

Unit 7-9

Mead Court

Cooper Road

Thornbury

BS35 3UW

REGISTERED NUMBER:

09051173 (England and Wales)

ACCOUNTANTS:

Dunkley's

Woodlands Grange

Woodlands Lane

Bradley Stoke

Bristol

United Kingdom

BS32 4JY

FIXED ASSETS

Intangible assets

4

3,117

4,156

Tangible assets

5

30,393

32,406

33,510

36,562

CURRENT ASSETS

Stocks

6

202,903

264,635

Debtors

7

56,096

125,339

Cash at bank and in hand

46

71

259,045

390,045

CREDITORS

Amounts falling due within one year

8

287,669

335,451

NET CURRENT (LIABILITIES)/ASSETS

(28,624

)

54,594

TOTAL ASSETS LESS CURRENT LIABILITIES

4,886

91,156

CREDITORS

Amounts falling due after more than one year

9

(131,065

)

-

PROVISIONS FOR LIABILITIES

(5,612

)

(5,960

)

NET (LIABILITIES)/ASSETS

(131,791

)

85,196

CAPITAL AND RESERVES

Called up share capital

12

1,000

1,000

Retained earnings

13

(132,791

)

84,196

SHAREHOLDERS' FUNDS

(131,791

)

85,196

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2026 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15th October 2026 and were signed on its behalf by:

Mr J Licence - Director

1.	STATUTORY INFORMATION

AVE (1977) Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements are presented in Pounds Sterling (£), which is the Company's functional and presentation currency.

Critical accounting judgements 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 amounts 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 considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of revision and future periods if the revision affects both current and future periods.

The following are the critical judgements and key 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:

Impairment of trade debtors - The Company makes an estimate of the recoverable value of trade and other debtors. When assessing impairment, management considers factors including the ageing profile of debtors and historical experience.

Useful economic lives of tangible fixed assets - The annual depreciation charge depends on the estimated useful lives of assets. The directors review these estimates regularly based on the current condition of the assets and expected future use.

Turnover

Turnover, which is stated net of value added tax, represents amounts receivable for the sale of vacuum engineering components and equipment together with income from the hire of equipment, recognised as performance obligations are satisfied.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

10% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Computer equipment

-

Reducing balance over 3 years

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern

The financial statements have been prepared on a going concern basis.

The company has incurred losses during the current and prior years and had net liabilities at the balance sheet date. The company's continued operation is dependent upon the ongoing financial support of its directors.

The directors have reviewed the company's cash flow forecasts and financial commitments for a period of at least twelve months from the date of approval of these financial statements. The directors have confirmed their intention to continue providing financial support as necessary to enable the company to meet its liabilities as they fall due.

Whilst these conditions indicate the existence of a material uncertainty that may cast significant doubt on the company's ability to continue as a going concern, the directors have a reasonable expectation that adequate financial resources will be available. Accordingly, the financial statements have been prepared on the going concern basis.

Cash & cash equivalents definition

Cash comprises cash in hand and demand deposits. Cash equivalents are short-term, highly liquid investments that are readily convertible to known amounts of cash and are subject to an insignificant risk of changes in value.

Cash and cash equivalents consist solely of balances held in the Company's bank current account. The Company does not hold any short-term investments. The company operates an overdraft facility.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2025 - 9 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1st April 2025

and 31st March 2026

4,750

AMORTISATION

At 1st April 2025

594

Charge for year

1,039

At 31st March 2026

1,633

NET BOOK VALUE

At 31st March 2026

3,117

At 31st March 2025

4,156

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

£

£

£

COST

At 1st April 2025

42,346

7,500

3,473

53,319

Additions

2,000

-

-

2,000

At 31st March 2026

44,346

7,500

3,473

55,319

DEPRECIATION

At 1st April 2025

13,373

5,416

2,124

20,913

Charge for year

3,047

521

445

4,013

At 31st March 2026

16,420

5,937

2,569

24,926

NET BOOK VALUE

At 31st March 2026

27,926

1,563

904

30,393

At 31st March 2025

28,973

2,084

1,349

32,406

6.

STOCKS

31.3.26

31.3.25

£

£

Stocks

202,903

264,635

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.26

31.3.25

£

£

Trade debtors

42,255

94,854

Other debtors

6,471

704

Tax

-

24,220

Prepayments

7,370

5,561

56,096

125,339

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.26

31.3.25

£

£

Bank loans and overdrafts

49,701

104,995

Trade creditors

50,014

44,741

Social security and other taxes

12,034

12,414

VAT

2,438

16,093

Other creditors

25,193

7,384

Pension creditor

796

577

Directors' current accounts

142,694

142,382

Accrued expenses

4,799

6,865

287,669

335,451

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.26

31.3.25

£

£

Bank loans - 1-2 years

18,719

-

Bank loans - 2-5 years

39,403

-

Bank loans more 5 yrs non-inst

72,943

-

131,065

-

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans more 5 yrs non-inst

72,943

-

10.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31.3.26

31.3.25

£

£

Within one year

7,200

6,417

11.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.26

31.3.25

£

£

Bank loans

146,476

-

The company has a Natwest loan balance of £95,130. The Company bank loan is a fixed rate loan for 60 months, after which point it becomes variable.

The company has a Funding Circle loan balance of £52,500. The Company bank loan is a fixed rate loan for 60 months.

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.26

31.3.25

value:

£

£

800

Ordinary A Shares

£1

800

800

200

Ordinary B Shares

£1

200

200

1,000

1,000

13.

RESERVES

Retained

earnings

£

At 1st April 2025

84,196

Deficit for the year

(216,987

)

At 31st March 2026

(132,791

)

14.	CONTINGENT LIABILITIES

The Company had no contingent liabilities at the balance sheet date.

15.	RELATED PARTY DISCLOSURES

At the balance sheet date, the Company owed £142,694 (2025: £142,384) to J Licence. The balance is unsecured, interest-free and repayable on demand.

16.	POST BALANCE SHEET EVENTS

There have been no events after the balance sheet date affecting the Company since the financial period.