Company Registration No. NI607378 (Northern Ireland)
A N E Solutions Ltd
Unaudited accounts
for the year ended 31 May 2023
A N E Solutions Ltd
Unaudited accounts
Contents
A N E Solutions Ltd
Company Information
for the year ended 31 May 2023
Directors
Martin McQuillian
Christina McQuillian
Company Number
NI607378 (Northern Ireland)
Registered Office
25 Tuftarney Road
Newtown Crommelin
Ballymena
Antrim
BT43 6RZ
Accountants
Gray + Press Accountants Limited
Unit 4A Channel Wharf
21 Old Channel Road
Belfast
BT3 9DE
A N E Solutions Ltd
Statement of financial position
as at 31 May 2023
Tangible assets
75,466
70,765
Inventories
109,076
44,800
Cash at bank and in hand
576
63,046
Creditors: amounts falling due within one year
(126,482)
(165,476)
Net current assets
28,916
92,701
Total assets less current liabilities
104,382
163,466
Creditors: amounts falling due after more than one year
(93,539)
(98,926)
Called up share capital
2
2
Profit and loss account
10,841
64,538
Shareholders' funds
10,843
64,540
For the year ending 31 May 2023 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 in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 28 September 2023 and were signed on its behalf by
Christina McQuillian
Director
Company Registration No. NI607378
A N E Solutions Ltd
Notes to the Accounts
for the year ended 31 May 2023
A N E Solutions Ltd is a private company, limited by shares, registered in Northern Ireland, registration number NI607378. The registered office is 25 Tuftarney Road, Newtown Crommelin, Ballymena, Antrim, BT43 6RZ.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
10% Straight line
Plant & machinery
17.5% straight line
Motor vehicles
17.5% straight line
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Expenditure on research and development is written off in the year in which it is incurred.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
A N E Solutions Ltd
Notes to the Accounts
for the year ended 31 May 2023
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
4
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At cost
At 1 June 2022
5,969
100,749
12,120
118,838
Additions
2,216
-
18,634
20,850
At 31 May 2023
8,185
100,749
30,754
139,688
At 1 June 2022
484
35,469
12,120
48,073
Charge for the year
793
12,801
2,555
16,149
At 31 May 2023
1,277
48,270
14,675
64,222
At 31 May 2023
6,908
52,479
16,079
75,466
At 31 May 2022
5,485
65,280
-
70,765
Amounts falling due within one year
Trade debtors
36,696
145,381
Accrued income and prepayments
4,050
4,950
6
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
41,241
151,870
Obligations under finance leases and hire purchase contracts
2,680
-
Trade creditors
68,586
40,059
Amounts owed to group undertakings and other participating interests
17,361
-
Taxes and social security
(37,181)
(95,360)
Other creditors
3,367
41,565
Loans from directors
15,900
14,177
A N E Solutions Ltd
Notes to the Accounts
for the year ended 31 May 2023
7
Creditors: amounts falling due after more than one year
2023
2022
Obligations under finance leases and hire purchase contracts
8,712
-
8
Average number of employees
During the year the average number of employees was 14 (2022: 18).
