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Company No: 09631926 (England and Wales)

ALLIANCE TRADE SERVICES LTD

Unaudited Financial Statements
For the financial year ended 31 May 2023
Pages for filing with the registrar

ALLIANCE TRADE SERVICES LTD

Unaudited Financial Statements

For the financial year ended 31 May 2023

Contents

ALLIANCE TRADE SERVICES LTD

COMPANY INFORMATION

For the financial year ended 31 May 2023
ALLIANCE TRADE SERVICES LTD

COMPANY INFORMATION (continued)

For the financial year ended 31 May 2023
DIRECTORS Adam Mark Dring
Andrew Mark Dring
Debra Jane Dring
REGISTERED OFFICE 12 Watermill Close
Maidstone
ME16 0NE
United Kingdom
COMPANY NUMBER 09631926 (England and Wales)
CHARTERED ACCOUNTANTS Burgess Hodgson LLP
Camburgh House
27 New Dover Road
Canterbury
CT1 3DN
ALLIANCE TRADE SERVICES LTD

STATEMENT OF FINANCIAL POSITION

As at 31 May 2023
ALLIANCE TRADE SERVICES LTD

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 May 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 4 15,472 16,174
15,472 16,174
Current assets
Debtors 5 180,265 109,053
Cash at bank and in hand 114,982 81,156
295,247 190,209
Creditors: amounts falling due within one year 6 ( 262,023) ( 156,118)
Net current assets 33,224 34,091
Total assets less current liabilities 48,696 50,265
Provision for liabilities ( 4,100) ( 3,073)
Net assets 44,596 47,192
Capital and reserves
Called-up share capital 100 100
Profit and loss account 44,496 47,092
Total shareholders' funds 44,596 47,192

For the financial year ending 31 May 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Alliance Trade Services Ltd (registered number: 09631926) were approved and authorised for issue by the Board of Directors on 29 February 2024. They were signed on its behalf by:

Andrew Mark Dring
Director
ALLIANCE TRADE SERVICES LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 2023
ALLIANCE TRADE SERVICES LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Alliance Trade Services Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 12 Watermill Close, Maidstone, ME16 0NE, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset over its expected useful life.

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Plant and machinery 25 % reducing balance
Vehicles 25 % reducing balance
Office equipment 2 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Non-financial assets
At each balance sheet date, the company reviews its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss.

If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into.

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

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.

2. Critical accounting judgements and key sources of estimation uncertainty

In the application of the Company’s accounting policies, the directors are required to make judgements that have a significant impact on the amounts recognised. Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. 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.

3. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 3 3

4. Tangible assets

Plant and machinery Vehicles Office equipment Total
£ £ £ £
Cost
At 01 June 2022 359 33,282 16,409 50,050
Additions 2,748 0 2,394 5,142
At 31 May 2023 3,107 33,282 18,803 55,192
Accumulated depreciation
At 01 June 2022 95 19,241 14,540 33,876
Charge for the financial year 123 3,510 2,211 5,844
At 31 May 2023 218 22,751 16,751 39,720
Net book value
At 31 May 2023 2,889 10,531 2,052 15,472
At 31 May 2022 264 14,041 1,869 16,174

5. Debtors

2023 2022
£ £
Trade debtors 175,265 105,053
Other debtors 5,000 4,000
180,265 109,053

6. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 117,372 78,586
Taxation and social security 43,041 24,434
Other creditors 101,610 53,098
262,023 156,118

7. Related party transactions

Transactions with the entity's directors

2023 2022
£ £
At the year end the company owed the Directors: 98,608 50,099