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Financial Statements |
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for the Year Ended 31 December 2021 |
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for |
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Automation Investments Limited |
REGISTERED NUMBER:
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Financial Statements |
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for the Year Ended 31 December 2021 |
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for |
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Automation Investments Limited |
Automation Investments Limited (Registered number: 02042053) |
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Contents of the Financial Statements |
for the Year Ended 31 December 2021 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 3 |
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Automation Investments Limited |
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Company Information |
for the Year Ended 31 December 2021 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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AUDITORS: |
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Hanover Court |
5 Queen Street |
Lichfield |
Staffordshire |
WS13 6QD |
Automation Investments Limited (Registered number: 02042053) |
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Balance Sheet |
31 December 2021 |
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2021 | 2020 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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Investment property | 5 |
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CURRENT ASSETS |
Debtors | 6 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 7 | ( |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
8 |
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PROVISIONS FOR LIABILITIES | 10 | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 11 |
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Retained earnings | 12 |
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SHAREHOLDERS' FUNDS |
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In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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Automation Investments Limited (Registered number: 02042053) |
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Notes to the Financial Statements |
for the Year Ended 31 December 2021 |
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1. | STATUTORY INFORMATION |
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Automation Investments Limited is a
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
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Turnover |
Turnover is measured at the fair value of the rents received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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Tangible fixed assets |
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Plant and machinery | - |
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Freehold property is not depreciated as the directors have decided to have freehold property revalued every 5 years. |
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Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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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. |
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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. |
Automation Investments Limited (Registered number: 02042053) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2021 |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | TANGIBLE FIXED ASSETS |
Freehold | Plant and |
property | machinery | Totals |
£ | £ | £ |
COST |
At 1 January 2021 |
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Additions |
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Reclassification/transfer |
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At 31 December 2021 |
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DEPRECIATION |
Charge for year |
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At 31 December 2021 |
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NET BOOK VALUE |
At 31 December 2021 |
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At 31 December 2020 |
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5. | INVESTMENT PROPERTY |
Total |
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FAIR VALUE |
At 1 January 2021 |
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Reclassification/transfer | (4,860,000 | ) |
At 31 December 2021 |
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NET BOOK VALUE |
At 31 December 2021 |
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At 31 December 2020 |
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The directors are of the opinion that the market value of the investment property remains unchanged. |
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In the year the directors have reclassified the investment property as a tangible fixed asset in line with FRS 102. |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Trade debtors |
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Amounts owed by group undertakings |
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Other debtors |
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Automation Investments Limited (Registered number: 02042053) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2021 |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Bank loans and overdrafts |
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Trade creditors |
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Amounts owed to group undertakings |
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Taxation and social security |
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Other creditors |
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The bank loan and amounts owed on directors and shareholder loan accounts included in other creditors are secured. See "Secured debts" note. |
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8. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2021 | 2020 |
£ | £ |
Bank loans |
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The bank loan is secured. See "Secured debts" note. |
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9. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2021 | 2020 |
£ | £ |
Bank loans |
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The bank loan is secured by a debenture over the investment property and a fixed and floating charge over all other group assets dated 24 July 2019 both in favour of Barclays Bank Plc. |
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10. | PROVISIONS FOR LIABILITIES |
2021 | 2020 |
£ | £ |
Deferred tax | 465,117 | 456,351 |
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Deferred |
tax |
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Balance at 1 January 2021 |
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Charge to Profit and Loss Account during year |
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Balance at 31 December 2021 |
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The deferred tax liability which relates to unrealised revaluation surpluses on the Investment Property is £445,000 (2020 £445,000). |
Automation Investments Limited (Registered number: 02042053) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 December 2021 |
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11. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2021 | 2020 |
value: | £ | £ |
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Ordinary | £1 | 550,000 | 550,000 |
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12. | RESERVES |
Retained |
earnings |
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At 1 January 2021 |
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Profit for the year |
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At 31 December 2021 |
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13. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
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The Report of the Auditors was unqualified. |
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for and on behalf of
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14. | CONTINGENT LIABILITIES |
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Lloyds Bank PLC holds a fixed and floating charge over group assets in respect of group companies bank debts amounting to £1,284,997 (2020 - £1,403,482). |
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15. | ULTIMATE CONTROLLING PARTY |
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P.G.S Logistics Holdings Limited is regarded by the directors as being the company's ultimate parent company. |
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P.G.S Logistics Holdings Limited's registered office is 248 Mackadown Lane, Kitts Green, Birmingham B33 |
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