Registration number: 01754698

Applications Engineering Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 10

Applications Engineering Limited

Company Information

Director

J F Goddard

Registered office

Liberty House 9.2c Michael Way Ashdown Business Park Maresfield East Sussex TN22 2DU

Applications Engineering Limited

(Registration number: 01754698)
Balance Sheet as at 30 June 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	5	69,311	55,456
Current assets
Stocks	6	1,248,085	1,117,288
Debtors	7	2,758,748	1,939,020
Cash at bank and in hand		5,904	513,667
		4,012,737	3,569,975
Creditors: Amounts falling due within one year	8	(1,011,540)	(790,123)
Net current assets		3,001,197	2,779,852
Total assets less current liabilities		3,070,508	2,835,308
Creditors: Amounts falling due after more than one year	8	-	(60,000)
Provisions for liabilities		(17,070)	(11,055)
Net assets		3,053,438	2,764,253
Capital and reserves
Called up share capital		284	284
Capital redemption reserve		16	16
Retained earnings		3,053,138	2,763,953
Shareholders' funds		3,053,438	2,764,253

Applications Engineering Limited

(Registration number: 01754698)
Balance Sheet as at 30 June 2025

For the financial year ending 30 June 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 14 October 2025
 

.........................................

J F Goddard
Director

Applications Engineering Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Liberty House
9.2c Michael Way
Ashdown Business Park
Maresfield
East Sussex
TN22 2DU

These financial statements were authorised for issue by the director on 14 October 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

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 net of sales/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.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Applications Engineering Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Office equipment	20% per annum on cost
Plant and machinery	20% per annum on cost
Computer equipment	33.33% per annum on cost

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Goodwill	33.33% per annum on cost

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Applications Engineering Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Applications Engineering Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 13 (2024 - 11).

4	Intangible assets

	Other intangible assets  £	Total £
Cost or valuation
At 1 July 2024	30,000	30,000
At 30 June 2025	30,000	30,000
Amortisation
At 1 July 2024	30,000	30,000
At 30 June 2025	30,000	30,000
Carrying amount
At 30 June 2025	-	-

Applications Engineering Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025

5	Tangible assets

	Fixtures and fittings £	Office equipment £	Motor vehicles  £	Total £
Cost or valuation
At 1 July 2024	4,859	47,502	114,718	167,079
Additions	1,806	8,052	38,674	48,532
Disposals	-	-	(24,495)	(24,495)
At 30 June 2025	6,665	55,554	128,897	191,116
Depreciation
At 1 July 2024	1,533	40,689	69,401	111,623
Charge for the year	559	4,250	23,234	28,043
Eliminated on disposal	-	-	(17,861)	(17,861)
At 30 June 2025	2,092	44,939	74,774	121,805
Carrying amount
At 30 June 2025	4,573	10,615	54,123	69,311
At 30 June 2024	3,326	6,813	45,317	55,456

6

Stocks

	2025 £	2024 £
Work in progress	5,507	132,041
Other inventories	1,242,578	985,247
	1,248,085	1,117,288

Applications Engineering Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025

7

Debtors

 

Current	Note	2025 £	2024 £
Trade debtors		543,902	527,476
Amounts owed by related parties	10	2,041,396	1,292,176
Prepayments		9,017	10,657
Other debtors		164,433	108,711
		2,758,748	1,939,020

Included in debtors due within one year is loan to the value of £66,000 (2024 : £78,854) due from the director of the company.

8

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	9	216,760	65,159
Trade creditors		613,739	296,897
Taxation and social security		123,274	268,495
Accruals and deferred income		56,839	144,572
Other creditors		928	15,000
		1,011,540	790,123

Creditors: amounts falling due after more than one year

	Note	2025 £	2024 £
Due after one year
Loans and borrowings	9	-	60,000

Applications Engineering Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025

9	Loans and borrowings

Non-current loans and borrowings

	2025 £	2024 £
Bank borrowings	-	60,000

Current loans and borrowings

	2025 £	2024 £
Bank borrowings	60,000	65,000
Bank overdrafts	156,760	159
	216,760	65,159

10	Related party transactions

Summary of transactions with other related parties

Group undertakings
 
At the balance sheet date, current assets included two interest free loans to fellow group members totalling £2,041,395 (2024 : £1,292,175).