Caseware UK (AP4) 2022.0.179 2022.0.179 2023-02-282023-02-282022-03-01falseNo description of principal activity3838falsetrue 00489740 2022-03-01 2023-02-28 00489740 2021-03-01 2022-02-28 00489740 2023-02-28 00489740 2022-02-28 00489740 c:Director1 2022-03-01 2023-02-28 00489740 c:Director2 2022-03-01 2023-02-28 00489740 c:Director3 2022-03-01 2023-02-28 00489740 c:Director4 2022-03-01 2023-02-28 00489740 c:RegisteredOffice 2022-03-01 2023-02-28 00489740 d:PlantMachinery 2022-03-01 2023-02-28 00489740 d:PlantMachinery 2023-02-28 00489740 d:PlantMachinery 2022-02-28 00489740 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 00489740 d:MotorVehicles 2022-03-01 2023-02-28 00489740 d:MotorVehicles 2023-02-28 00489740 d:MotorVehicles 2022-02-28 00489740 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 00489740 d:FurnitureFittings 2022-03-01 2023-02-28 00489740 d:FurnitureFittings 2023-02-28 00489740 d:FurnitureFittings 2022-02-28 00489740 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 00489740 d:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 00489740 d:CurrentFinancialInstruments 2023-02-28 00489740 d:CurrentFinancialInstruments 2022-02-28 00489740 d:Non-currentFinancialInstruments 2023-02-28 00489740 d:Non-currentFinancialInstruments 2022-02-28 00489740 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 00489740 d:CurrentFinancialInstruments d:WithinOneYear 2022-02-28 00489740 d:Non-currentFinancialInstruments d:AfterOneYear 2023-02-28 00489740 d:Non-currentFinancialInstruments d:AfterOneYear 2022-02-28 00489740 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-02-28 00489740 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-02-28 00489740 d:ShareCapital 2023-02-28 00489740 d:ShareCapital 2022-02-28 00489740 d:CapitalRedemptionReserve 2023-02-28 00489740 d:CapitalRedemptionReserve 2022-02-28 00489740 d:RetainedEarningsAccumulatedLosses 2023-02-28 00489740 d:RetainedEarningsAccumulatedLosses 2022-02-28 00489740 c:FRS102 2022-03-01 2023-02-28 00489740 c:Audited 2022-03-01 2023-02-28 00489740 c:FullAccounts 2022-03-01 2023-02-28 00489740 c:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 00489740 d:WithinOneYear 2023-02-28 00489740 d:WithinOneYear 2022-02-28 00489740 c:SmallCompaniesRegimeForAccounts 2022-03-01 2023-02-28 iso4217:GBP xbrli:pure
Company registration number: 00489740







FINANCIAL STATEMENTS
FOR THE YEAR ENDED
28 FEBRUARY 2023


ALLEN (FENCING) LIMITED






































         

 


ALLEN (FENCING) LIMITED
 


 
COMPANY INFORMATION


Directors
P. R. Cope 
M. R. Jones 
T. I. Jones 
G. V. Pinks 




Registered number
00489740



Registered office
Birch Walk

West Byfleet

Surrey

KT14 6EJ




Independent auditors
Menzies LLP
Chartered Accountants

Ashcombe House

5 The Crescent

Leatherhead

Surrey

KT22 8DY





 


ALLEN (FENCING) LIMITED
 



CONTENTS



Page
Statement of Financial Position
1 - 2
Notes to the Financial Statements
3 - 8


 


ALLEN (FENCING) LIMITED
REGISTERED NUMBER:00489740



STATEMENT OF FINANCIAL POSITION
AS AT 28 FEBRUARY 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 5 
55,648
92,077

  
55,648
92,077

Current assets
  

Stocks
  
34,438
40,328

Debtors: amounts falling due within one year
 6 
3,037,430
3,682,206

Cash at bank and in hand
  
327,878
125,456

  
3,399,746
3,847,990

Creditors: amounts falling due within one year
 7 
(2,533,297)
(3,520,823)

Net current assets
  
 
 
866,449
 
 
327,167

Total assets less current liabilities
  
922,097
419,244

Creditors: amounts falling due after more than one year
 8 
(198,692)
(41,764)

Provisions for liabilities
  

Deferred tax
  
-
(625)

  
 
 
-
 
 
(625)

Net assets
  
723,405
376,855


Capital and reserves
  

Called up share capital 
  
901
901

Capital redemption reserve
  
899
899

Profit and loss account
  
721,605
375,055

  
723,405
376,855


Page 1

 


ALLEN (FENCING) LIMITED
REGISTERED NUMBER:00489740


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 28 FEBRUARY 2023

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 income and retained earnings 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 by: 




M. R. Jones
Director

Date: 29 November 2023

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 


ALLEN (FENCING) LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1.


General information

Allen (Fencing) Limited is a private company limited by shares incorporated in England and Wales. The address of the registered office and the company's registered number is disclosed on the company information page.
The Company's functional and presentational currency is GBP, rounded to the nearest £1. 

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

The Company provides essential services to a diverse portfolio of government and private contractors. The Company continues to have a very strong order book. This fact, together with the support of its directors and shareholders and adequate headroom in its overdraft facility over the 12 months from the date of approval of these financial statements gives the directors confidence that the going concern basis of preparation of the accounts continues to be appropriate.

 
2.3

Revenue

Revenue from the installation of perimeter security fencing represents the value of work completed during the period, including estimates of amounts not invoiced. Revenue in respect of long term contracts and contracts for ongoing services is recognised by reference to stage of completion.
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. 

 
2.4

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.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the following methods:

The estimated useful lives range as follows:

Plant and machinery
-
5% per annum on cost
Motor vehicles
-
25-33.3% per annum on cost
Fixtures and fittings
-
15-33.3% per annum on cost and 15-33.3% per annum on net book value

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.

Page 3

 


ALLEN (FENCING) LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)

 
2.5

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.6

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

 
2.7

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. 
Grants of a revenue nature are recognised in the Statement of Income and Retained Earnings in the same period as the related expenditure.

 
2.8

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

 
2.9

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

The Company has taken advantage of the optional exemption available on transition to FRS 102 which allows lease incentives on leases entered into before the date of transition to the standard 01 March 2021 to continue to be charged over the period to the first market rent review rather than the term of the lease.

 
2.10

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 Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

Page 4

 


ALLEN (FENCING) LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)

 
2.11

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 reporting 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 reporting 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 reporting date.


3.


Judgements in applying accounting policies and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for  evenues and expenses during the year. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Value of bad debt provision:
Management apply judgement to determine when a provision is required if trade debtor balances are not deemed to be recoverable to avoid overstatement of assets. This use of estimation is not considered to give rise to a significant degree of uncertainty due to management awareness and ability to review for accuracy.
Stage of completion of contracts for WIP calculation:
The Company enters into commercial contracts and at period ends is required to assess the level of completion of these contracts, to determine value of revenue recognised  and the attributable profit. Management estimate the cost to complete at period end, however based on budgets and an up to date progress review.


4.


Employees

The average monthly number of employees, including directors, during the year was 37 (2022 - 38).

Page 5

 


ALLEN (FENCING) LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

5.


Tangible fixed assets





Plant and machinery
Motor vehicles
Fixtures and fittings
Total

£
£
£
£



Cost


At 1 March 2022
58,754
861,059
148,521
1,068,334



At 28 February 2023

58,754
861,059
148,521
1,068,334



Depreciation


At 1 March 2022
48,579
791,101
136,577
976,257


Charge for the year
1,000
34,537
892
36,429



At 28 February 2023

49,579
825,638
137,469
1,012,686



Net book value



At 28 February 2023
9,175
35,421
11,052
55,648



At 28 February 2022
10,175
69,958
11,944
92,077

Page 6

 


ALLEN (FENCING) LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

6.


Debtors

2023
2022
£
£


Trade debtors
749,531
1,771,450

Amounts owed by group undertakings
1,961,666
1,787,697

Other debtors
7,800
5,271

Prepayments and accrued income
314,116
117,788

Deferred taxation
4,317
-

3,037,430
3,682,206



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank overdrafts
-
321,160

Bank loans
41,667
-

Trade creditors
699,164
1,706,293

Amounts owed to group undertakings
655,835
545,707

Corporation tax
63,776
30,470

Other taxation and social security
35,724
55,238

Obligations under finance lease and hire purchase contracts
27,131
31,598

Other creditors
21,852
18,428

Accruals and deferred income
988,148
811,929

2,533,297
3,520,823


The Company's assets are pledged as security over the group bank borrowings, by means of a fixed and floating charge. As at 28 February 2023, the group had bank borrowings totalling £225,695 (2022: £321,160). 
Obligations under finance lease and hire purchase contracts are secured on the Company's tangible fixed assets.


8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
184,028
-

Net obligations under finance leases and hire purchase contracts
14,664
41,764

198,692
41,764


Obligations under finance lease and hire purchase contract are secured on the Company's tangible fixed assets.

Page 7

 


ALLEN (FENCING) LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

9.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
41,667
-

41,667
-


Amounts falling due 2-5 years

Bank loans
184,028
-

184,028
-


225,695
-



10.


Commitments under operating leases

At 28 February 2023 the Company had future minimum lease payments under non-cancellable operating leases as follows:

2023
2022
£
£


Not later than 1 year
-
65,176

-
65,176


11.


Controlling party

The immediate parent undertaking is AFL Group Limited, a Company which is registered in England and Wales.
The ultimate parent undertaking is is Allens TPS Group Limited. The address of its registered office is the same as this Company's registered office and is disclosed on the Company Information page.


12.


Auditors' information

The auditors' report on the financial statements for the year ended 28 February 2023 was unqualified.

The audit report was signed on 29 November 2023 by Caroline Milton FCA (Senior Statutory Auditor) on behalf of Menzies LLP.

Page 8