Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-3144false2022-04-01No description of principal activity43truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 04326396 2022-04-01 2023-03-31 04326396 2021-04-01 2022-03-31 04326396 2023-03-31 04326396 2022-03-31 04326396 1 2022-04-01 2023-03-31 04326396 d:Director3 2022-04-01 2023-03-31 04326396 c:Buildings 2022-04-01 2023-03-31 04326396 c:Buildings 2023-03-31 04326396 c:Buildings 2022-03-31 04326396 c:Buildings c:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 04326396 c:PlantMachinery 2022-04-01 2023-03-31 04326396 c:PlantMachinery 2023-03-31 04326396 c:PlantMachinery 2022-03-31 04326396 c:PlantMachinery c:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 04326396 c:MotorVehicles 2022-04-01 2023-03-31 04326396 c:MotorVehicles 2023-03-31 04326396 c:MotorVehicles 2022-03-31 04326396 c:MotorVehicles c:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 04326396 c:FurnitureFittings 2022-04-01 2023-03-31 04326396 c:FurnitureFittings 2023-03-31 04326396 c:FurnitureFittings 2022-03-31 04326396 c:FurnitureFittings c:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 04326396 c:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 04326396 c:CurrentFinancialInstruments 2023-03-31 04326396 c:CurrentFinancialInstruments 2022-03-31 04326396 c:Non-currentFinancialInstruments 2023-03-31 04326396 c:Non-currentFinancialInstruments 2022-03-31 04326396 c:CurrentFinancialInstruments c:WithinOneYear 2023-03-31 04326396 c:CurrentFinancialInstruments c:WithinOneYear 2022-03-31 04326396 c:Non-currentFinancialInstruments c:AfterOneYear 2023-03-31 04326396 c:Non-currentFinancialInstruments c:AfterOneYear 2022-03-31 04326396 c:Non-currentFinancialInstruments c:BetweenOneTwoYears 2023-03-31 04326396 c:Non-currentFinancialInstruments c:BetweenOneTwoYears 2022-03-31 04326396 c:Non-currentFinancialInstruments c:BetweenTwoFiveYears 2023-03-31 04326396 c:Non-currentFinancialInstruments c:BetweenTwoFiveYears 2022-03-31 04326396 c:Non-currentFinancialInstruments c:MoreThanFiveYears 2023-03-31 04326396 c:Non-currentFinancialInstruments c:MoreThanFiveYears 2022-03-31 04326396 c:ShareCapital 2023-03-31 04326396 c:ShareCapital 2022-03-31 04326396 c:RetainedEarningsAccumulatedLosses 2023-03-31 04326396 c:RetainedEarningsAccumulatedLosses 2022-03-31 04326396 d:FRS102 2022-04-01 2023-03-31 04326396 d:IndependentExaminationCharity 2022-04-01 2023-03-31 04326396 d:FullAccounts 2022-04-01 2023-03-31 04326396 d:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 04326396 c:HirePurchaseContracts c:WithinOneYear 2023-03-31 04326396 c:HirePurchaseContracts c:WithinOneYear 2022-03-31 04326396 c:HirePurchaseContracts c:BetweenOneFiveYears 2023-03-31 04326396 c:HirePurchaseContracts c:BetweenOneFiveYears 2022-03-31 04326396 c:AcceleratedTaxDepreciationDeferredTax 2023-03-31 04326396 c:AcceleratedTaxDepreciationDeferredTax 2022-03-31 04326396 c:PlantMachinery c:LeasedAssetsHeldAsLessee 2023-03-31 04326396 c:PlantMachinery c:LeasedAssetsHeldAsLessee 2022-03-31 04326396 c:LeasedAssetsHeldAsLessee 2023-03-31 04326396 c:LeasedAssetsHeldAsLessee 2022-03-31 04326396 e:PoundSterling 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure

Registered number: 04326396









ALPHA RAIL LIMITED









FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

 
ALPHA RAIL LIMITED
REGISTERED NUMBER: 04326396

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2023
2022
2022
Note
£
£
£
£

Fixed assets
  

Tangible assets
 5 
46,048
796,746

Current assets
  

Stocks
  
369,160
459,924

Debtors: amounts falling due within one year
 6 
877,277
945,879

Cash at bank and in hand
 7 
607,527
290,159

  
1,853,964
1,695,962

Creditors: amounts falling due within one year
 8 
(676,795)
(835,296)

Net current assets
  
 
 
1,177,169
 
 
860,666

Total assets less current liabilities
  
1,223,217
1,657,412

Creditors: amounts falling due after more than one year
 9 
-
(680,297)

Provisions for liabilities
  

Deferred tax
 12 
(43,969)
(55,888)

Net assets
  
1,179,248
921,227


Capital and reserves
  

Called up share capital 
  
75,000
75,000

Profit and loss account
  
1,104,248
846,227

  
1,179,248
921,227


Page 1

 
ALPHA RAIL LIMITED
REGISTERED NUMBER: 04326396
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023

The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 2 November 2023.




M K Sipson
Director

The notes on pages 3 to 12 form part of these financial statements.

Page 2

 
ALPHA RAIL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

Alpha Rail Limited is a private limited company incorporated and domiciled in England.  Its registered office and principal place of business is situated at Nunn Brook Rise, The County Estate, Huthwaite, Nottinghamshire NG17 2PD.
The principal activity of the company is the manufacture and installation of pedestrian guard rails, parapets, decorative fencing and bollards. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

At the date of approval of the financial statements, there remains a degree of uncertainty over the full economic impact of Brexit, the cost of living and wider geopolitical issues. The directors understand that the company may be affected to some degree by general economic factors in the UK and continue to monitor the position closely, however believe that the company will continue at its current level of activity, subject to their continued support.
On the basis of their assessment of the company's financial position, the directors have a reasonable expectation that the company will be able to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of preparation of the financial statements.

Page 3

 
ALPHA RAIL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the company has transferred the significant risks and rewards of ownership to the buyer;
the company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the statement of comprehensive income in the same period as the related expenditure.

Page 4

 
ALPHA RAIL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.5

Pensions

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 5

 
ALPHA RAIL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)


2.7
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Freehold property
-
2%
straight line
Plant and machinery
-
20%
straight line
Motor vehicles
-
25%
or 33 1/3% straight line
Fixtures and fittings
-
7%
to 33 1/3% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

Financial instruments

The company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the company after the deduction of all its liabilities.

Page 6

 
ALPHA RAIL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)


2.8
Financial instruments (continued)

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


3.


Employees

The average monthly number of employees, including directors, during the year was 43 (2022 - 44).


4.


Dividends

2023
2022
£
£


Dividends
113,100
113,100

Page 7

 
ALPHA RAIL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

5.


Tangible fixed assets





Freehold property
Plant and machinery
Motor vehicles
Fixtures and fittings
Total

£
£
£
£
£



Cost or valuation


At 1 April 2022
707,392
371,101
8,316
200,877
1,287,686


Additions
-
2,558
-
-
2,558


Disposals
(707,392)
(580)
-
(132,633)
(840,605)



At 31 March 2023

-
373,079
8,316
68,244
449,639



Depreciation


At 1 April 2022
74,130
301,070
3,658
112,083
490,941


Charge for the year on owned assets
5,791
31,340
2,438
12,100
51,669


Disposals
(79,921)
(580)
-
(58,518)
(139,019)



At 31 March 2023

-
331,830
6,096
65,665
403,591



Net book value



At 31 March 2023
-
41,249
2,220
2,579
46,048



At 31 March 2022
633,262
70,031
4,658
88,795
796,746

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2023
2022
£
£



Plant and machinery
7,703
23,108

7,703
23,108

Page 8

 
ALPHA RAIL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

6.


Debtors

2023
2022
£
£


Trade debtors
821,437
895,369

Prepayments and accrued income
55,840
50,510

877,277
945,879



7.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
607,527
290,159



8.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
-
98,387

Trade creditors
481,309
512,888

Other taxation and social security
146,006
157,964

Obligations under finance lease and hire purchase contracts
6,416
11,000

Other creditors
12,128
21,502

Accruals and deferred income
30,936
33,555

676,795
835,296


Obligations under finance leases and hire purchase contracts are secured on the related assets.
The CBILS facility and mortgage, both of which were secured by a charge on the property at Nunn Brook Rise and fixed and floating charges over the remaining assets of the company, have been fully paid off during the year.

Page 9

 
ALPHA RAIL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

9.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
-
671,196

Net obligations under finance leases and hire purchase contracts
-
6,417

Accruals and deferred income
-
2,684

-
680,297


Obligations under finance leases and hire purchase contracts are now fully falling due within one year.
The CBILS facility and mortgage, both of which were secured by a charge on the property at Nunn Brook Rise and fixed and floating charges over the remaining assets of the company, have been fully paid off during the year.


10.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
-
98,387

Amounts falling due 1-2 years

Bank loans
-
100,040

Amounts falling due 2-5 years

Bank loans
-
290,788

Amounts falling due after more than 5 years

Bank loans
-
280,368

-
769,583


Page 10

 
ALPHA RAIL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

11.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2023
2022
£
£


Within one year
6,416
11,000

Between 1-5 years
-
6,417

6,416
17,417


12.


Deferred taxation




2023


£






At beginning of year
(55,888)


Charged to profit or loss
11,919



At end of year
(43,969)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(43,969)
(55,888)


13.


Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company  in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £210,252 (2022 - £120,560). Contributions totalling £1,295 (2022 - £1,394) were payable to the fund at the balance sheet date and are included in creditors.


14.


Related party transactions

During the year, the company sold their premises to the directors' pension scheme. The company continues to occupy the property and rent charged in the financial statements for the year was £36,988 (2022: £NIL).

Page 11

 
ALPHA RAIL LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

15.


Post balance sheet events

Immediately after the balance sheet date, following a strategic planning review and receipt of clearance from HMRC, the company completed a transaction to reduce their share capital. The company's historic loan facilities were cleared before the year-end and a review of their working capital requirements indicated that reduced share capital is required for the successful day to day running of the company. The company's operations are not materially affected by the transaction and the reduction in share capital will be reflected in next year's balance sheet dated 31 March 2024.


16.


Controlling party

No single individual holds a controlling interest in the company.

 
Page 12