AIM Solder (UK) Limited - Accounts to registrar (filleted) - small 18.2
AIM Solder (UK) Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Financial Statements for the Year Ended 31 December 2019 |
| for |
| AIM Solder (UK) Limited |
| AIM Solder (UK) Limited (Registered number: 09144636) |
| Contents of the Financial Statements |
| for the Year Ended 31 December 2019 |
| Page |
| Company Information | 1 |
| Abridged Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| AIM Solder (UK) Limited |
| Company Information |
| for the Year Ended 31 December 2019 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| AUDITORS: |
| Chartered Accountants |
| Statutory Auditor |
| Brigham House |
| High Street |
| Biggleswade |
| Bedfordshire |
| SG18 0LD |
| AIM Solder (UK) Limited (Registered number: 09144636) |
| Abridged Balance Sheet |
| 31 December 2019 |
| 2019 | 2018 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 5 |
| Property, plant and equipment | 6 |
| Investments | 7 |
| CURRENT ASSETS |
| Inventories |
| Debtors |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 9 |
| Retained earnings | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements were approved by the director and authorised for issue on were signed by: |
| AIM Solder (UK) Limited (Registered number: 09144636) |
| Notes to the Financial Statements |
| for the Year Ended 31 December 2019 |
| 1. | STATUTORY INFORMATION |
| AIM Solder (UK) Limited is a |
| The company's registered number and registered office address can be found on the Company |
| Information page. |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | STATEMENT OF COMPLIANCE |
| 3. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Preparation of consolidated financial statements |
| The financial statements contain information about AIM Solder (UK) Limited as an individual company |
| and do not contain consolidated financial information as the parent of a group. The company is exempt |
| under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated |
| financial statements. |
| Turnover |
| Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, |
| rebates, value added tax and other sales taxes. |
| Revenue from the sale of goods is recognised when goods are delivered and legal title has passed. |
| Goodwill |
| Goodwill, being the amount paid in connection with the aquisition of the business in 2014 is carried at |
| cost less accumulated amortisation and is being amortised evenly over its estimated useful life of ten |
| years. |
| Further goodwill, acquired in 2015 and 2016, is carried at cost less accumulated amortisation and is |
| being amortised evenly over its estimated useful life of ten years from the date of aquisition. |
| Tangible fixed assets |
| Plant and machinery etc | - |
| Investments in subsidiaries |
| Investments in subsidiary undertakings are recognised at cost less impairment. |
| Inventories |
| Inventories are valued at the lower of cost and net realisable value, after making due allowance for |
| obsolete and slow moving items. Inventory is measured at an average cost basis. |
| When inventories are sold, the carrying amount of those inventories is recognised as an expense in |
| the period in which the related revenue is recognised. |
| The amount of any write-down of inventory to net realisable value and all losses of inventory are |
| recognised as an expense in the period in which the write-down or loss occurs. The amount of any |
| reversal of any write-down of inventory is recognised as a reduction in the amount of inventory |
| recognised as an expense in the period in which the reversal occurs. |
| AIM Solder (UK) Limited (Registered number: 09144636) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2019 |
| 3. | ACCOUNTING POLICIES - continued |
| 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. |
| Foreign currencies |
| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at |
| the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of |
| exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at |
| the operating result. |
| 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. |
| Financial instruments |
| Loans with group companies are repayable on demand and therefore measured at cost with no |
| adjustment made to discount future cash flows. |
| Debtors and creditors receivable / payable within one year |
| Debtors and creditors with no stated interest rate and receivable or payable within one year are |
| recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss |
| account in other administrative expenses. |
| 4. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| AIM Solder (UK) Limited (Registered number: 09144636) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2019 |
| 5. | INTANGIBLE FIXED ASSETS |
| Totals |
| £ |
| COST |
| At 1 January 2019 |
| and 31 December 2019 |
| AMORTISATION |
| At 1 January 2019 |
| Amortisation for year |
| At 31 December 2019 |
| NET BOOK VALUE |
| At 31 December 2019 |
| At 31 December 2018 |
| 6. | PROPERTY, PLANT AND EQUIPMENT |
| Totals |
| £ |
| COST |
| At 1 January 2019 |
| Additions |
| At 31 December 2019 |
| DEPRECIATION |
| At 1 January 2019 |
| Charge for year |
| At 31 December 2019 |
| NET BOOK VALUE |
| At 31 December 2019 |
| At 31 December 2018 |
| 7. | FIXED ASSET INVESTMENTS |
| Information on investments other than loans is as follows: |
| Totals |
| £ |
| COST |
| At 1 January 2019 |
| and 31 December 2019 | 1,215,672 |
| NET BOOK VALUE |
| At 31 December 2019 | 1,215,672 |
| At 31 December 2018 | 1,215,672 |
| The fixed asset investment represents the cost of acquiring the subsidiary, Geo W Neale ltd less |
| impairment. The company has transferred the business of its subsidiary to AIM Solder UK ltd and is in |
| the process of transferring its net assets. |
| AIM Solder (UK) Limited (Registered number: 09144636) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 December 2019 |
| 8. | LEASING AGREEMENTS |
| Minimum lease payments under non-cancellable operating leases fall due as follows: |
| 2019 | 2018 |
| £ | £ |
| Within one year |
| Between one and five years |
| In more than five years |
| 9. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2019 | 2018 |
| value: | £ | £ |
| Ordinary | £1 | 5,538,086 | 5,538,086 |
| 10. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| for and on behalf of |
| 11. | OTHER FINANCIAL COMMITMENTS |
| There is a fixed and floating charge over the assets of the company. |
| 12. | GROUP FINANCIAL STATEMENTS |
| Group financial statements, in which the company's financial results are included, are prepared by its |
| parent company: |
| AIM Metals & Alloys Inc. |
| 9100 Boul Henri-Bourassa East |
| Montreal |
| Quebec |
| Canada |
| H1E 2S4 |
| AIM Metals & Alloys Inc. is incorporated in Canada. |