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COMPANY REGISTRATION NUMBER: 10969797
Alliance Facade Services Limited
Filleted Unaudited Financial Statements
Year ending
31 December 2021
Alliance Facade Services Limited
Financial Statements
Year ended 31 December 2021
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
Alliance Facade Services Limited
Statement of Financial Position
31 December 2021
2021
2020
Note
£
£
£
£
Fixed assets
Tangible assets
5
15,101
13,367
Current assets
Stocks
87,892
27,555
Debtors
6
1,037,047
549,811
Cash at bank and in hand
1,160,152
1,498,631
------------
------------
2,285,091
2,075,997
Creditors: amounts falling due within one year
7
1,592,352
1,271,065
------------
------------
Net current assets
692,739
804,932
---------
---------
Total assets less current liabilities
707,840
818,299
Creditors: amounts falling due after more than one year
8
141,667
Provisions
2,869
2,503
---------
---------
Net assets
704,971
674,129
---------
---------
Capital and reserves
Called up share capital
9
2,000
2,000
Profit and loss account
702,971
672,129
---------
---------
Shareholder funds
704,971
674,129
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Alliance Facade Services Limited
Statement of Financial Position (continued)
31 December 2021
These financial statements were approved by the board of directors and authorised for issue on 2 September 2022 , and are signed on behalf of the board by:
R P Barnes
E F Tobin
Director
Director
Company registration number: 10969797
Alliance Facade Services Limited
Notes to the Financial Statements
Year ended 31 December 2021
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 146 New London Road, Chelmsford, Essex, CM2 0AW.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The directors have considered the impact of the covid-19 pandemic in their assessment of the company's ability to prepare accounts as a going concern. Because of the uncertainties surrounding the effects of the economic slowdown it is difficult to predict the impact on the company and its customers, but having taken all the factors into account, the directors are of the opinion that the company has sufficient resources to continue trading for the next 12 months from the date of signing these accounts.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
20% straight line
Equipment
-
20 % straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 7 (2020: 7 ).
5. Tangible assets
Plant and machinery
Equipment
Total
£
£
£
Cost
At 1 January 2021
3,225
17,048
20,273
Additions
6,605
6,605
-------
--------
--------
At 31 December 2021
3,225
23,653
26,878
-------
--------
--------
Depreciation
At 1 January 2021
250
6,656
6,906
Charge for the year
645
4,226
4,871
-------
--------
--------
At 31 December 2021
895
10,882
11,777
-------
--------
--------
Carrying amount
At 31 December 2021
2,330
12,771
15,101
-------
--------
--------
At 31 December 2020
2,975
10,392
13,367
-------
--------
--------
6. Debtors
2021
2020
£
£
Trade debtors
892,504
547,258
Prepayments and accrued income
2,480
1,053
Amounts due from a related party
1,500
Other debtors
142,063
------------
---------
1,037,047
549,811
------------
---------
7. Creditors: amounts falling due within one year
2021
2020
£
£
Bank loans and overdrafts
58,333
Trade creditors
1,125,460
961,635
Amounts owed to group undertakings
200,000
Accruals and deferred income
44,842
66,884
Corporation tax
180,328
147,003
Social security and other taxes
13,667
35,091
Director loan accounts
2,743
2,119
Other creditors
25,312
------------
------------
1,592,352
1,271,065
------------
------------
8. Creditors: amounts falling due after more than one year
2021
2020
£
£
Bank loans and overdrafts
141,667
----
---------
9. Called up share capital
Issued, called up and fully paid
2021
2020
No.
£
No.
£
Ordinary shares of £ 1 each
2,000
2,000
2,000
2,000
-------
-------
-------
-------
10. Related party transactions
At the year end the company was owed £0 (2020 - £1,500) by a related company which is shown amongst debtors. At the year end the company owed £200,000 (2020 - £0) to a related company which is shown amongst creditors. At the year end the company owed the directors £2,743 (2020:£2,119) which is shown by way of a directors loan account.
11. Controlling party
The ultimate parent undertaking of Alliance Façade Services Limited is Alliance Group UK Holdings Limited a company incorporated in England and Wales. The registered office is 146 New London Road, Chelmsford, Essex, CM2 0AW.