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Company registration number: |
06955092
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ALAC LIMITED
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REPORT OF THE DIRECTORS' AND |
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FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30 June 2023 |
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ALAC LIMITED |
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BALANCE SHEET |
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AS AT 30 June 2023
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2023 |
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2022 |
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Notes |
£ |
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£ |
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£ |
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£ |
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FIXED ASSETS | | | | | | | | | | | |
Intangible assets | | | 3 | | | 1 | | | | 1 | |
Tangible assets | | | 4 | | | 16,652 | | | | 23,508 | |
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| | | | | | | 16,653 | | | | 23,509 | |
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CURRENT ASSETS |
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Stocks | | | | 9,950 | | | | 8,512 | | | | |
Debtors | | | | 55,765 | | | | 56,321 | | | | |
Cash at bank and in hand | | | | 141,980 | | | | 154,508 | | | | |
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| | | | | 207,695 | | | | 219,341 | | | |
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CREDITORS |
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Amounts falling due within one year |
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(169,910) |
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(197,981) |
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NET CURRENT ASSETS |
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37,785 |
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21,360 |
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TOTAL ASSETS LESS |
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CURRENT LIABILITIES |
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54,438 |
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44,869 |
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Creditors falling due after one year | | | | | (0) | | | | (31,154) | |
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PROVISIONS FOR LIABILITIES | | | | | (4,163) | | | | (2,954) | |
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NET ASSETS |
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50,275 |
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10,761 |
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CAPITAL AND RESERVES |
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Called-up equity share capital |
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100 |
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100 |
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Profit and loss account |
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50,175 |
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10,661 |
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SHAREHOLDERS FUNDS |
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50,275 |
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10,761 |
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For the year ending 30 June 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies. | | | | | | | |
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The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. | | | | | | | |
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of the accounts. | | | | | | | |
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All the members have consented to the preparation of abridged financial statements for the year ended 30 June 2023 in accordance with Section 444(2A) of the Companies Act 2006. | | | | | | | |
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The profit and loss account has not been delivered to the Registrar of Companies in accordance with the special provisions applicable to companies subject to the small companies' regime. | | | | | | | |
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These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006. Approved by the board of directors on 6 February 2024 and signed on its behalf. | | | | | | | |
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.......................................................................... |
W Liu |
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6 February 2024
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The annexed notes form part of these financial statements. | | | | | | | |
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ALAC LIMITED |
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NOTES TO THE FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 30 JUNE 2023 |
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1. |
Accounting policies |
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Basis of preparing the financial statements |
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The financial statements have been prepared under the historical cost convention in accordance with the accounting policies set out below. These financial statements have been prepared in accordance with FRS102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
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| Turnover | | | | | | | | | |
| Turnover comprises the value of goods and services supplied by the company, net of Value Added Tax. | |
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| Intangible Assets |
| Goodwill is the difference between the amount paid on the acquisition of a business and the aggregate fair value of its separable net assets. It is being written off in equal annual instalments over its estimated economic life of ten years. | |
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| Fixed Assets | | | | | | | | |
| Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following bases: Fixtures and fittings - 25% reducing balance basis. Leasehold - over life of lease. | |
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| Motor Vehicles - over life of finance lease | |
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| Stocks and Work In Progress | | | | | | | |
| Stocks and work in progress are valued at the lower of cost and net realisable value. | |
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| Leasing | | | | | | | | | |
| Property, plant and equipment acquired under finance leases or hire purchase contracts are capitalised and depreciated in the same manner as other tangible fixed assets. The related obligations, net of future finance charges, are included in creditors. | |
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| Government grants | | | | | | | |
| Grants from HMRC due to Coronavirus (COVID19) are credit to the profit and loss account, in the period in which entitlement arises. |
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| Deferred Taxation | | | | | | | | |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the Balance Sheet date. | |
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| Pension Scheme | | | | | | | | |
| The company operates a statutory contribution pension scheme. The pension charge represented the amounts payable by the company to the fund in respect of the year. | |
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2. | Employees | | | |
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| The average number of persons employed by the company (including directors) during the year was 18. |
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4. | Tangible fixed assets | | | | | | | | | |
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Total |
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| Cost | | | | | | | | | | |
| At start of period | | 128,378 | |
| Additions | | | 4,919 | |
| Disposals | | | (14,917) | |
| At end of period | | 118,380 | |
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| Depreciation | | | | | | | | | | |
| At start of period | | 104,870 | |
| Provided during the period | | 4,523 | |
| On disposals | | | (7,665) | |
| At end of period | | 101,728 | |
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| Net Book Value | | | | | | | | | |
| At start of period | | 23,508 | |
| At end of period | | 16,652 | |
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5. | Debtors | | | | | | | |
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| Other debtors include £31,054 of rent deposit which is recoverable after more than one year. |
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6. | Related Party Transactions | | | | | | | | |
| The company occupies business premises under a lease which is in the name of one of its directors. In return for this occupation the company has entered into an Agreement with the director to assume responsibility for all rent, repairs and service charge obligations under the lease for its remaining term. The Leasehold Land & Buildings in the Balance Sheet is the price paid for this right to occupy for the life of the lease. The directors have maintained a joint loan to the company. No interest is charged on this loan. The balance outstanding at the balance sheet date was £83,959 (2021 : £81,188). During the year, the company paid dividends totalling £48,000 to its directors. | |
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7. | Pension costs | | | | | | | | |
| The company operates a statutory contribution scheme for its employees. The assets of the scheme are held separately from those of the company in an independently administered fund. | |
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