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REGISTERED NUMBER: 04831472 (England and Wales)




UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2023

FOR

ALSTON GARRARD & CO LIMITED

ALSTON GARRARD & CO LIMITED (REGISTERED NUMBER: 04831472)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ALSTON GARRARD & CO LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST DECEMBER 2023







DIRECTOR: S Glenie



REGISTERED OFFICE: 25 Grosvenor Road
Wrexham
LL11 1BT



REGISTERED NUMBER: 04831472 (England and Wales)



ACCOUNTANTS: M. D. Coxey and Co. Limited
Chartered Accountants
25 Grosvenor Road
Wrexham
LL11 1BT



BANKERS: Lloyds Bank plc
31 Fore Street
Totnes
TQ9 5HH

ALSTON GARRARD & CO LIMITED (REGISTERED NUMBER: 04831472)

BALANCE SHEET
31ST DECEMBER 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 245,758 254,351
Investments 6 102,000 102,000
Investment property 7 315,252 315,252
663,010 671,603

CURRENT ASSETS
Stocks 8 316,647 334,057
Debtors 9 4,303,735 3,973,349
Cash at bank 73,532 472,678
4,693,914 4,780,084
CREDITORS
Amounts falling due within one year 10 995,317 1,209,140
NET CURRENT ASSETS 3,698,597 3,570,944
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,361,607

4,242,547

CREDITORS
Amounts falling due after more than one year 11 (112,650 ) (186,173 )

PROVISIONS FOR LIABILITIES 14 (33,810 ) (35,225 )
NET ASSETS 4,215,147 4,021,149

CAPITAL AND RESERVES
Called up share capital 15 100 100
Retained earnings 4,215,047 4,021,049
SHAREHOLDERS' FUNDS 4,215,147 4,021,149

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

ALSTON GARRARD & CO LIMITED (REGISTERED NUMBER: 04831472)

BALANCE SHEET - continued
31ST DECEMBER 2023


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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 18th March 2024 and were signed by:





S Glenie - Director


ALSTON GARRARD & CO LIMITED (REGISTERED NUMBER: 04831472)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023

1. STATUTORY INFORMATION

Alston Garrard & Co Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets. The company's functional and presentational currencies are pounds sterling.

Significant judgements and estimates
In the application of the Company’s accounting policies, management is required to make judgements, estimates and assumptions about carrying values of assets and liabilities that are not readily available from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The key judgements and sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are described below:

Estimated useful lives and residual values of fixed assets
Depreciation of tangible and intangible fixed assets has been based on estimated useful lives and residual values deemed appropriate by the director. Estimated useful lives and residual values are reviewed annually and revised as appropriate. Revisions take into account estimated useful lives used by other companies operating in the sector and actual asset lives and residual values, as evidenced by disposals during current and prior accounting periods.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Sales of goods
The company recognises revenue when the amount of revenue can be measured reliably, when it is probable that future economic benefits will flow to the entity and when the risks and rewards of ownership have passed to the customer. This typically happens when goods are delivered and legal title has passed.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - 2% on cost
Plant and machinery - 20% on cost
Furniture & equipment - 20% - 33% on cost
Computer equipment - 33% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.


ALSTON GARRARD & CO LIMITED (REGISTERED NUMBER: 04831472)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates two defined contribution pension schemes. Contributions payable for the year are charged in the profit and loss account.

Investments
Fixed asset investments are included in the company's balance sheet at cost less any amounts written off for impairment.

Financial instruments
The following assets and liabilities are classified as financial instruments - trade debtors and trade creditors.

Trade debtors and trade creditors are measured at the undiscounted amount of cash or other consideration expected to be paid or received.

Financial assets are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit and loss.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 6 ) .

ALSTON GARRARD & CO LIMITED (REGISTERED NUMBER: 04831472)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st January 2023
and 31st December 2023 600,000
AMORTISATION
At 1st January 2023
and 31st December 2023 600,000
NET BOOK VALUE
At 31st December 2023 -
At 31st December 2022 -

5. TANGIBLE FIXED ASSETS
Long Plant and Furniture Computer
leasehold machinery & equipment equipment Totals
£    £    £    £    £   
COST
At 1st January 2023
and 31st December 2023 365,370 25,409 23,570 38,979 453,328
DEPRECIATION
At 1st January 2023 112,446 25,409 23,569 37,553 198,977
Charge for year 7,873 - - 720 8,593
At 31st December 2023 120,319 25,409 23,569 38,273 207,570
NET BOOK VALUE
At 31st December 2023 245,051 - 1 706 245,758
At 31st December 2022 252,924 - 1 1,426 254,351

6. FIXED ASSET INVESTMENTS
Unlisted
investments
£   
COST
At 1st January 2023
and 31st December 2023 102,000
NET BOOK VALUE
At 31st December 2023 102,000
At 31st December 2022 102,000

ALSTON GARRARD & CO LIMITED (REGISTERED NUMBER: 04831472)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023

6. FIXED ASSET INVESTMENTS - continued

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Sunbury Warehousing & Logistics Limited
Registered office: 25 Grosvenor Road, Wrexham, LL11 1BT
Nature of business: Warehousing & logistics company
%
Class of shares: holding
Ordinary 51.00
31.12.23 31.12.22
£    £   
Aggregate capital and reserves 1,190,865 1,130,858
Profit for the year 74,900 712,364

7. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st January 2023
and 31st December 2023 315,252
NET BOOK VALUE
At 31st December 2023 315,252
At 31st December 2022 315,252

8. STOCKS
31.12.23 31.12.22
£    £   
Stocks 316,647 334,057

9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 4,253,972 3,829,573
Amounts owed by group undertakings 943 90,326
VAT 16,619 23,031
Prepayments 32,201 30,419
4,303,735 3,973,349

ALSTON GARRARD & CO LIMITED (REGISTERED NUMBER: 04831472)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023

10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts (see note 12) 197,852 153,430
Trade creditors 420,012 660,920
Amounts owed to group undertakings 65,843 58,194
Tax 95,838 138,673
Social security and other taxes 6,625 5,558
Other loans - 74,817
Directors' current accounts 70,376 63,916
Accrued expenses 138,771 53,632
995,317 1,209,140

11. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans (see note 12) 112,650 186,173

12. LOANS

An analysis of the maturity of loans is given below:

31.12.23 31.12.22
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 124,329 68,269
Bank loans 73,523 85,161
197,852 153,430

Amounts falling due between one and two years:
Bank loans - 1-2 years 65,486 73,523

Amounts falling due between two and five years:
Bank loans - 2-5 years 47,164 112,650

There are three loans outstanding at the year end.

The first loan is due to be repaid in September 2026 and is currently at a fixed rate of 3.75%.

The second loan is due to be repaid in May 2024 and is currently at a fixed rate of 3.36%.

The third loan in a bounce back loan and is due to be repaid in May 2026 and is at a fixed rate of 2.5%.

ALSTON GARRARD & CO LIMITED (REGISTERED NUMBER: 04831472)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023

13. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Bank overdrafts 124,329 68,269
Bank loans 186,173 271,334
310,502 339,603

The company has granted a fixed and floating charge over its assets.

14. PROVISIONS FOR LIABILITIES
31.12.23 31.12.22
£    £   
Deferred tax
Accelerated capital allowances 33,810 35,225

Deferred
tax
£   
Balance at 1st January 2023 35,225
Movement in the year due to:
changes in tax rates (515 )
changes in tax allowances (900 )
Balance at 31st December 2023 33,810

15. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
100 Ordinary £1 100 100

16. CAPITAL COMMITMENTS
31.12.23 31.12.22
£    £   
Contracted but not provided for in the
financial statements - -

ALSTON GARRARD & CO LIMITED (REGISTERED NUMBER: 04831472)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023

17. RELATED PARTY DISCLOSURES

During the year, sales were made to, and purchases from, Sunbury Warehousing & Logistics Limited, the subsidiary company, in the sums of £14,962 (2022: £11,503) and £334,295 (2022: £472,886) respectively.

S Glenie has a controlling interest in Kulal Industries Limited. Medipharm Industries (E.A.) Limited and Medipharm Sales Limited are subsidiaries of Kulal Industries Limited.

During the year ended 31st December 2023 the following transactions took place:-

SalesTrade debtor
31.12.2331.12.2231.12.2331.12.22
££££
Kulal International Limited614,673456,2122,388,9132,511,077
Medipharm Industries (E.A) Limited839,415865,7971,096,687780,118
Medipharm Sales Limited338,228273,311392,591283,706

Kulal International Limited charged Alston Garrard Limited £94,247 (2022: £100,217) for product development, branding and marketing services.

18. ULTIMATE CONTROLLING PARTY

The controlling party is S Glenie.