Application Engineering & Maintenance Limited |
Registered Number:02677615 |
For the year ended 31 July 2022
England and Wales
Unaudited Financial Statements
For the year ended 31 July 2022
Application Engineering & Maintenance Limited
Contents Page
1
Statement of Financial Position
2 to 4
Notes to the Financial Statements
Application Engineering & Maintenance Limited
Statement of Financial Position
2021
2022
Property, plant and equipment |
3,822
2,427
2
3,822
2,427
495
1,570
3
Trade and other receivables |
67,655
49,297
4
114,099
-
5
170,419
Cash and cash equivalents |
235,067
285,934
352,668
Trade and other payables: amounts falling due within one |
year |
(176,833)
(154,222)
6
175,835
131,712
Net current assets
Total assets less current liabilities |
135,534
178,262
-
(1,102)
Provisions for liabilities |
135,534
Net assets
177,160
100
100
135,434
177,060
135,534
177,160
Shareholders' funds
For the year ended 31 July 2022 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies. |
The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2022 in accordance with Section 476 of the Companies Act 2006 |
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section |
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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. |
These financial statements were approved and authorised for issue by the Board on 29 March 2023 and were signed by: |
The notes form part of these financial statements |
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For the year ended 31 July 2022
Application Engineering & Maintenance Limited
Notes to the Financial Statements
Statutory Information
Application Engineering & Maintenance Limited is a private limited company, limited by shares, domiciled in England |
and Wales, registration number 02677615. |
Unit 4B
Tomo Trading Estate, Packet Boat Lane
Uxbridge
Middlesex
UB8 2JP
The presentation currency is £ sterling. |
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial |
Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the |
Companies Act 2006. The financial statements have been prepared under the historical costs convention. |
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts. |
Property, plant and equipment
Property, plant and equipment, 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
Fixtures and fittings
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants received towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred or conditions fulfilled. |
Inventories
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. |
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. |
Hire purchase and leasing commitments
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme for the benefit of its directors/and employees. Contributions payable are charged to the profit and loss account in the period in which they are payable. |
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For the year ended 31 July 2022
Application Engineering & Maintenance Limited
Notes to the Financial Statements Continued
Financial Instruments
Financial instruments are recognised in the company's balance sheet when the company become party to the |
contractual provisions of the instrument. |
Basic financial assets, which include debtors and cash and bank balances, are initial measured at transaction price. |
Basic financial liabilities |
Basic financial liabilities are initially recognised at transaction price unless the arrangement constitutes a financing |
transaction, where the debt instrument is measured at the present value of the future payments discounted at a |
market rate of interest. Financial liabilities classified as payable within one year are not amortised. |
Other financial instruments |
Where investments 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. |
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received. Dividends payable on equity |
instruments are recognised as liabilities once they are no longer at the discretion of the company. |
2. Property, plant and equipment |
61,117
51,221
9,896
3,213
3,213
-
9,896
54,434
64,330
Provision for depreciation and impairment |
58,690
48,794
9,896
Charge for year
1,818
1,818
-
60,508
50,612
9,896
-
3,822
3,822
-
2,427
2,427
2021
2022
1,570
495
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For the year ended 31 July 2022
Application Engineering & Maintenance Limited
Notes to the Financial Statements Continued
4. Trade and other receivables |
2021
2022
47,385
63,531
Prepayments and accrued income |
1,898
1,487
14
2,637
67,655
49,297
5. Financial instruments at fair value |
2021
2022
-
114,099
During the year all the other investments were disposed of. All of the fair value revaluation of £14,099 has been |
transferred to loss on disposal of investments. |
6. Trade and other payables: amounts falling due within one year |
2021
2022
1,876
5,451
Taxation and social security |
25,202
48,970
Accruals and deferred income |
6,358
3,950
120,786
118,462
154,222
176,833
7. Guarantees and other financial commitments |
At 31 July 2022 the company had annual commitments under non-cancellable operating leases as set out below: |
2021
2022
Operating leases which expire: |
1,400
1,400
1,400
1,400
8. Average number of persons employed |
During the year the average number of employees was 3 (2021 : 3)
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