Caseware UK (AP4) 2022.0.179 2022.0.179 2023-09-302023-09-30falsetrue122022-10-01manufacturing, ssembling and testing radar and electronic components11trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 00858249 2022-10-01 2023-09-30 00858249 2021-10-01 2022-09-30 00858249 2023-09-30 00858249 2022-09-30 00858249 2021-10-01 00858249 c:Director1 2022-10-01 2023-09-30 00858249 d:Buildings 2022-10-01 2023-09-30 00858249 d:Buildings 2023-09-30 00858249 d:Buildings 2022-09-30 00858249 d:Buildings d:OwnedOrFreeholdAssets 2022-10-01 2023-09-30 00858249 d:Buildings d:LeasedAssetsHeldAsLessee 2022-10-01 2023-09-30 00858249 d:MotorVehicles 2022-10-01 2023-09-30 00858249 d:MotorVehicles 2023-09-30 00858249 d:MotorVehicles 2022-09-30 00858249 d:MotorVehicles d:OwnedOrFreeholdAssets 2022-10-01 2023-09-30 00858249 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2022-10-01 2023-09-30 00858249 d:OfficeEquipment 2022-10-01 2023-09-30 00858249 d:OfficeEquipment 2023-09-30 00858249 d:OfficeEquipment 2022-09-30 00858249 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-10-01 2023-09-30 00858249 d:OfficeEquipment d:LeasedAssetsHeldAsLessee 2022-10-01 2023-09-30 00858249 d:ComputerEquipment 2022-10-01 2023-09-30 00858249 d:ComputerEquipment 2023-09-30 00858249 d:ComputerEquipment 2022-09-30 00858249 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-10-01 2023-09-30 00858249 d:ComputerEquipment d:LeasedAssetsHeldAsLessee 2022-10-01 2023-09-30 00858249 d:OwnedOrFreeholdAssets 2022-10-01 2023-09-30 00858249 d:LeasedAssetsHeldAsLessee 2022-10-01 2023-09-30 00858249 d:PatentsTrademarksLicencesConcessionsSimilar 2023-09-30 00858249 d:PatentsTrademarksLicencesConcessionsSimilar 2022-09-30 00858249 d:CurrentFinancialInstruments 2023-09-30 00858249 d:CurrentFinancialInstruments 2022-09-30 00858249 d:Non-currentFinancialInstruments 2023-09-30 00858249 d:Non-currentFinancialInstruments 2022-09-30 00858249 d:CurrentFinancialInstruments d:WithinOneYear 2023-09-30 00858249 d:CurrentFinancialInstruments d:WithinOneYear 2022-09-30 00858249 d:Non-currentFinancialInstruments d:AfterOneYear 2023-09-30 00858249 d:Non-currentFinancialInstruments d:AfterOneYear 2022-09-30 00858249 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-09-30 00858249 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-09-30 00858249 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-09-30 00858249 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-09-30 00858249 d:ShareCapital 2023-09-30 00858249 d:ShareCapital 2022-09-30 00858249 d:ShareCapital 2021-10-01 00858249 d:OtherMiscellaneousReserve 2023-09-30 00858249 d:OtherMiscellaneousReserve 2022-09-30 00858249 d:OtherMiscellaneousReserve 2021-10-01 00858249 d:RetainedEarningsAccumulatedLosses 2022-10-01 2023-09-30 00858249 d:RetainedEarningsAccumulatedLosses 2023-09-30 00858249 d:RetainedEarningsAccumulatedLosses 2021-10-01 2022-09-30 00858249 d:RetainedEarningsAccumulatedLosses 2022-09-30 00858249 d:RetainedEarningsAccumulatedLosses 2021-10-01 00858249 c:FRS102 2022-10-01 2023-09-30 00858249 c:AuditExempt-NoAccountantsReport 2022-10-01 2023-09-30 00858249 c:FullAccounts 2022-10-01 2023-09-30 00858249 c:PrivateLimitedCompanyLtd 2022-10-01 2023-09-30 00858249 d:WithinOneYear 2023-09-30 00858249 d:WithinOneYear 2022-09-30 00858249 d:BetweenOneFiveYears 2023-09-30 00858249 d:BetweenOneFiveYears 2022-09-30 00858249 2 2022-10-01 2023-09-30 00858249 d:AcceleratedTaxDepreciationDeferredTax 2023-09-30 00858249 d:AcceleratedTaxDepreciationDeferredTax 2022-09-30 00858249 d:OtherPropertyPlantEquipment d:LeasedAssetsHeldAsLessee 2023-09-30 00858249 d:OtherPropertyPlantEquipment d:LeasedAssetsHeldAsLessee 2022-09-30 00858249 d:PatentsTrademarksLicencesConcessionsSimilar d:OwnedIntangibleAssets 2022-10-01 2023-09-30 iso4217:GBP xbrli:pure
Registered number: 00858249


ALROY MICROWAVE & ELECTRONICS LIMITED
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 30 SEPTEMBER 2023

 
ALROY MICROWAVE & ELECTRONICS LIMITED
REGISTERED NUMBER:00858249

BALANCE SHEET
AS AT 30 SEPTEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
2,340
4,680

Tangible fixed assets
 5 
702,178
752,238

  
704,518
756,918

Current assets
  

Stocks
 6 
161,057
150,211

Debtors: amounts falling due within one year
 7 
373,044
330,547

Cash at bank and in hand
 8 
513,137
559,868

  
1,047,238
1,040,626

Creditors: amounts falling due within one year
 9 
(238,577)
(216,581)

Net current assets
  
 
 
808,661
 
 
824,045

Total assets less current liabilities
  
1,513,179
1,580,963

Creditors: amounts falling due after more than one year
 10 
(51,029)
(94,340)

Provisions for liabilities
  

Deferred tax
 12 
(86,253)
(85,089)

  
 
 
(86,253)
 
 
(85,089)

Net assets
  
1,375,897
1,401,534


Capital and reserves
  

Called up share capital 
  
25,000
25,000

Other reserves
  
15,793
15,793

Profit and loss account
  
1,335,104
1,360,741

  
1,375,897
1,401,534


Page 1

 
ALROY MICROWAVE & ELECTRONICS LIMITED
REGISTERED NUMBER:00858249
    
BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2023

The director considers 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 director acknowledges his 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 by: 



Mr Daniel Grist
Director

Date: 1 March 2024

The notes on pages 4 to 14 form part of these financial statements.

Page 2

 
ALROY MICROWAVE & ELECTRONICS LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 SEPTEMBER 2023


Called up share capital
Other reserves
Profit and loss account
Total equity

£
£
£
£


At 1 October 2021
25,000
15,793
1,319,571
1,360,364


Comprehensive income for the year

Profit for the year
-
-
110,170
110,170


Contributions by and distributions to owners

Dividends: Equity capital
-
-
(69,000)
(69,000)



At 1 October 2022
25,000
15,793
1,360,741
1,401,534


Comprehensive income for the year

Profit for the year
-
-
128,363
128,363


Contributions by and distributions to owners

Dividends: Equity capital
-
-
(154,000)
(154,000)


At 30 September 2023
25,000
15,793
1,335,104
1,375,897


The notes on pages 4 to 14 form part of these financial statements.

Page 3

 
ALROY MICROWAVE & ELECTRONICS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

1.


General information

Alroy Microwave & Electronics Limited is a private company, limited by shares, incorporated in England and Wales within the United Kingdom. The address of the registered office is Unit 1, Boulton Road, Pin Green Industrial Estate, Stevenage, Hertfordshire, SG1 4QX. The nature of the Company’s operations and principal activities are manufacturing, assembling and testing radar and electronic components. 

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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on a going concern basis. As at the date of this report, the directors conclude that there is no material uncertainty and that they can continue to adopt the going concern basis in preparing the annual report and accounts.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP, rounded to the nearest £1.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Page 4

 
ALROY MICROWAVE & ELECTRONICS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)

 
2.4

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.

 
2.5

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.

 
2.6

Leased assets: the Company as lessee

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to profit or loss so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

 
2.7

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.

 
2.8

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 5

 
ALROY MICROWAVE & ELECTRONICS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)

 
2.9

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.10

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.11

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.

 
2.12

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.

Page 6

 
ALROY MICROWAVE & ELECTRONICS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)

 
2.13

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

The useful economic life of intellectual property cannot be reliably estimated and is therefore amortised over 10 years.

 
2.14

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.

Depreciation is provided on the following basis:

Freehold property
-
2%
straight line method
Motor vehicles
-
25%
reducing balance method
Furniture & equipment
-
25%
reducing balance method
Test equipment
-
7%
straight line method

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.

 
2.15

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 balance sheet 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.

Page 7

 
ALROY MICROWAVE & ELECTRONICS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)

 
2.16

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.17

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.18

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.19

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.20

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.

Page 8

 
ALROY MICROWAVE & ELECTRONICS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)


2.20
Financial instruments (continued)

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.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

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

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.

 
2.21

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 12 (2022 - 11).

Page 9

 
ALROY MICROWAVE & ELECTRONICS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

4.


Intangible assets




Intellectual Property

£



Cost


At 1 October 2022
23,400



At 30 September 2023

23,400



Amortisation


At 1 October 2022
18,720


Charge for the year on owned assets
2,340



At 30 September 2023

21,060



Net book value



At 30 September 2023
2,340



At 30 September 2022
4,680



Page 10

 
ALROY MICROWAVE & ELECTRONICS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

5.


Tangible fixed assets





Freehold property
Motor vehicles
Furniture & equipment
Test equipment
Total

£
£
£
£
£



Cost or valuation


At 1 October 2022
843,467
19,115
201,373
448,153
1,512,108


Additions
-
-
2,325
-
2,325



At 30 September 2023

843,467
19,115
203,698
448,153
1,514,433



Depreciation


At 1 October 2022
305,558
12,901
180,480
260,931
759,870


Charge for the year on owned assets
16,869
1,553
5,224
23,355
47,001


Charge for the year on financed assets
-
-
-
5,384
5,384



At 30 September 2023

322,427
14,454
185,704
289,670
812,255



Net book value



At 30 September 2023
521,040
4,661
17,994
158,483
702,178



At 30 September 2022
537,909
6,214
20,893
187,222
752,238




The net book value of land and buildings may be further analysed as follows:


2023
2022
£
£

Freehold
521,040
537,909


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


2023
2022
£
£



Test equipment
37,683
43,067

Page 11

 
ALROY MICROWAVE & ELECTRONICS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

6.


Stocks

2023
2022
£
£

Finished goods and goods for resale
161,057
150,211



7.


Debtors

2023
2022
£
£


Trade debtors
285,375
230,920

Other debtors
57,980
65,394

Prepayments and accrued income
29,689
34,233

373,044
330,547



8.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
513,137
559,868



9.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
42,719
41,758

Trade creditors
93,433
87,251

Corporation tax
39,526
36,472

Other taxation and social security
35,705
23,882

Other creditors
1,586
2,368

Accruals and deferred income
25,608
24,850

238,577
216,581


Bank loans of £42,719 (2022: £41,758) are secured on the assets of the Company.

Page 12

 
ALROY MICROWAVE & ELECTRONICS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

10.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
51,029
94,340


Bank loans of £51,029 (2022: £94,340) are secured on the assets of the Company.


11.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
42,719
41,758

Amounts falling due 1-2 years

Bank loans
35,227
42,428

Amounts falling due 2-5 years

Bank loans
15,802
51,912


93,748
136,098



12.


Deferred taxation




2023


£






At beginning of year
(85,089)


Charged to profit or loss
(1,164)



At end of year
(86,253)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(86,253)
(85,089)

Page 13

 
ALROY MICROWAVE & ELECTRONICS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

13.


Pension commitments

The Company operates a defined contribution 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 £5,206 (2022: £10,276). Contributions totalling £1,586 (2022: £2,367) were payable to the fund at the balance sheet date and are included in creditors.


14.


Commitments under operating leases

At 30 September 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£


Not later than 1 year
16,749
881

Later than 1 year and not later than 5 years
13,375
425

30,124
1,306


15.


Transactions with directors

During the year the Company made advances amounting to £134,000 (2022: £1,708) to Mr Daniel Grist, a director of the Company. During the year Mr Daniel Grist repaid £139,000 (2022: £Nil). Interest of £1,011 (2022: £241) was charged on this balance in the year. At the year end £27,820 (2022: £31,809) was due from Mr Daniel Grist. These advances were unsecured, interest bearing at market rate and repayable on demand.


16.


Controlling party

The Company was under the control of Mr Daniel Grist, a director, for the current and previous year.

 
Page 14