|
Basis for opinion |
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. |
|
Conclusions relating to going concern |
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. |
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. |
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report. |
|
Other information |
The other information comprises the information included in the annual report other than the financial statements and our auditor’s report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. |
We have nothing to report in this regard. |
|
Opinions on other matters prescribed by the Companies Act 2006 |
In our opinion, based on the work undertaken in the course of the audit: |
● |
the information given in the strategic report and the directors’ report for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
● |
the strategic report and the directors’ report have been prepared in accordance with applicable legal requirements. |
|
Matters on which we are required to report by exception |
Alanda Capital Management Limited |
Statement of Cash Flows |
for the year ended 31 March 2023 |
|
Notes |
|
2023 |
|
2022 |
£ |
£ |
Operating activities |
Loss for the financial year |
(175,201) |
|
(215,181) |
|
Adjustments for: |
Interest receivable |
(228) |
|
(773) |
Interest payable |
- |
|
224 |
Tax on loss on ordinary activities |
807 |
|
- |
Depreciation |
473 |
|
10,019 |
Decrease in debtors |
6,619 |
|
1,036,015 |
Increase/(decrease) in creditors |
41,740 |
|
(534,999) |
|
|
|
(125,790) |
|
295,305 |
|
Interest received |
228 |
|
773 |
Interest paid |
|
|
- |
|
(224) |
Corporation tax paid |
15,043 |
|
479 |
|
Cash (used in)/generated by operating activities |
(110,519) |
|
296,333 |
|
|
|
|
|
|
Investing activities |
Proceeds from sale of tangible fixed assets |
- |
|
7,642 |
|
Cash generated by investing activities |
- |
|
7,642 |
|
|
|
|
|
|
Net cash (used)/generated |
Cash (used in)/generated by operating activities |
(110,519) |
|
296,333 |
Cash generated by investing activities |
- |
|
7,642 |
|
Net cash (used)/generated |
(110,519) |
|
303,975 |
|
Cash and cash equivalents at 1 April |
420,620 |
|
116,645 |
Cash and cash equivalents at 31 March |
310,101 |
|
420,620 |
|
|
|
|
|
|
Cash and cash equivalents comprise: |
Cash at bank |
310,101 |
|
420,861 |
Bank overdrafts |
9 |
|
- |
|
(241) |
|
|
|
310,101 |
|
420,620 |
|
|
|
|
|
|
|
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
|
|
Provisions |
|
Provisions (i.e. liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
|
|
Foreign currency translation |
|
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss. |
|
|
Pensions |
|
Contributions to defined contribution plans are expensed in the period to which they relate. |
|
|
2 |
Analysis of turnover |
2023 |
|
2022 |
£ |
£ |
|
|
Services rendered |
1,193,565 |
|
1,534,155 |
|
|
|
|
|
|
|
|
|
|
By geographical market: |
|
|
Europe |
1,193,565 |
|
1,534,155 |
|
|
|
|
|
|
|
|
|
|
3 |
Operating profit |
2023 |
|
2022 |
£ |
£ |
|
This is stated after charging: |
|
|
Depreciation of owned fixed assets |
473 |
|
10,019 |
|
Operating lease rentals - land and buildings |
159,147 |
|
91,398 |
|
Auditors' remuneration for audit services |
10,000 |
|
4,000 |
|
|
|
|
|
|
|
|
|
|
4 |
Staff costs |
2023 |
|
2022 |
£ |
£ |
|
|
Wages and salaries |
596,209 |
|
977,781 |
|
Social security costs |
101,339 |
|
119,485 |
|
Other pension costs |
6,161 |
|
9,486 |
|
|
|
|
|
|
703,709 |
|
1,106,752 |
|
|
|
|
|
|
|
|
|
|
|
Average number of employees during the year |
Number |
Number |
|
|
Administration |
6 |
|
8 |
|
|
|
|
|
|
6 |
|
8 |
|
|
|
|
|
|
|
|
|
|
5 |
Interest payable |
2023 |
|
2022 |
£ |
£ |
|
|
Other loans |
- |
|
224 |
|
|
|
|
|
|
|
|
|
|
6 |
Taxation |
2023 |
|
2022 |
£ |
£ |
|
Analysis of charge in period |
|
Current tax: |
|
Adjustments in respect of previous periods |
807 |
|
- |
|
|
Tax on profit on ordinary activities |
807 |
|
- |
|
|
|
|
|
|
|
|
|
|
|
Factors affecting tax charge for period |
|
The differences between the tax assessed for the period and the standard rate of corporation tax are explained as follows: |
|
|
|
|
|
|
|
2023 |
|
2022 |
£ |
£ |
|
Loss on ordinary activities before tax |
(174,394) |
|
(215,181) |
|
|
|
|
|
|
|
|
|
|
Standard rate of corporation tax in the UK |
19% |
|
19% |
|
£ |
£ |
|
Profit on ordinary activities multiplied by the standard rate of corporation tax |
|
(33,135) |
|
(40,884) |
|
|
Effects of: |
|
Expenses not deductible for tax purposes |
2,620 |
|
4,274 |
|
Tax losses carried forward |
30,515 |
|
36,610 |
|
Adjustments to tax charge in respect of previous periods |
807 |
|
- |
|
|
Current tax charge for period |
807 |
|
- |
|
|
|
|
|
|
|
|
|
|
|
|
7 |
Tangible fixed assets |
|
|
|
|
Land and buildings |
|
Fixtures, fittings, tools and equipment |
|
Total |
|
|
|
|
At cost |
|
At cost |
£ |
£ |
£ |
|
Cost or valuation |
|
At 1 April 2022 |
54,650 |
|
13,736 |
|
68,386 |
|
At 31 March 2023 |
54,650 |
|
13,736 |
|
68,386 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 April 2022 |
54,649 |
|
13,262 |
|
67,911 |
|
Charge for the year |
- |
|
473 |
|
473 |
|
At 31 March 2023 |
54,649 |
|
13,735 |
|
68,384 |
|
|
|
|
|
|
|
|
|
|
Carrying amount |
|
At 31 March 2023 |
1 |
|
1 |
|
2 |
|
At 31 March 2022 |
1 |
|
474 |
|
475 |
|
|
|
|
|
|
|
|
|
|
|
8 |
Debtors |
2023 |
|
2022 |
£ |
£ |
|
|
Trade debtors |
427,446 |
|
545,172 |
|
Other debtors |
253,827 |
|
375,623 |
|
Prepayments and accrued income |
570,347 |
|
337,444 |
|
|
|
|
|
|
1,251,620 |
|
1,258,239 |
|
|
|
|
|
|
|
|
|
|
9 |
Creditors: amounts falling due within one year |
2023 |
|
2022 |
£ |
£ |
|
|
Bank overdrafts |
- |
|
241 |
|
Trade creditors |
191,600 |
|
54,858 |
|
Corporation tax |
15,850 |
|
- |
|
Other taxes and social security costs |
11,722 |
|
38,502 |
|
Other creditors |
30,766 |
|
41,681 |
|
Accruals and deferred income |
45,675 |
|
102,982 |
|
|
|
|
|
|
295,613 |
|
238,264 |
|
|
|
|
|
|
|
|
|
|
10 |
Share capital |
Nominal |
|
2023 |
|
2023 |
|
2022 |
value |
Number |
£ |
£ |
|
Allotted, called up and fully paid: |
|
Ordinary shares |
£1 each |
|
2,074,200 |
|
2,074,200 |
|
2,074,200 |
|
|
|
|
|
|
|
|
|
|
11 |
Profit and loss account |
2023 |
|
2022 |
£ |
£ |
|
|
At 1 April |
(632,889) |
|
(417,708) |
|
Loss for the financial year |
(175,201) |
|
(215,181) |
|
|
At 31 March |
(808,090) |
|
(632,889) |
|
|
|
|
|
|
|
|
|
|
12 |
Loans to directors |
|
Description and conditions |
B/fwd |
Paid |
Repaid |
C/fwd |
£ |
£ |
£ |
£ |
|
C Vogel-Claussen |
|
Director's loan account with no fixed terms |
44,524 |
|
45,962 |
|
(13,890) |
|
76,596 |
|
|
|
44,524 |
|
45,962 |
|
(13,890) |
|
76,596 |
|
|
|
|
|
|
|
|
|
|
13 |
Related party transactions |
|
|
The company provides services to entities which are under common control. All turnover is derived from such related parties. At the balance sheet date, the company was owed £535,413 (2022 - £631,374) by related parties and owed £21,248 (2022 - nil) to related parties. |
|
|
14 |
Controlling party |
|
|
The company is under the control of the director. |
|
|
15 |
Presentation currency |
|
|
The financial statements are presented in Sterling. |
|
|
16 |
Legal form of entity and country of incorporation |
|
|
Alanda Capital Management Limited is a private company limited by shares and incorporated in England. |
|
|
17 |
Principal place of business |
|
|
The address of the company's principal place of business and registered office is: |
|
|
166 Piccadilly |
|
London |
|
W1J 9EF |