Company registration number 14103503 (England and Wales)
ALLIANCE UBS LIMITED
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2023
PAGES FOR FILING WITH REGISTRAR
ALLIANCE UBS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
ALLIANCE UBS LIMITED
BALANCE SHEET
AS AT
30 JUNE 2023
30 June 2023
- 1 -
Notes
£
£
Current assets
Stocks
3
1,995,043
Debtors
4
157,564
Cash at bank and in hand
341,739
2,494,346
Creditors: amounts falling due within one year
5
(2,499,814)
Net current liabilities
(5,468)
Capital and reserves
Called up share capital
6
2
Profit and loss reserves
(5,470)
Total equity
(5,468)

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

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

The financial statements were approved by the board of directors and authorised for issue on 24 January 2024 and are signed on its behalf by:
D Russell
Director
Company registration number 14103503 (England and Wales)
ALLIANCE UBS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2023
- 2 -
1
Accounting policies
Company information

Alliance UBS Limited is a private company limited by shares incorporated in England and Wales. The registered office is Alliance House, Westpoint Enterprise Park, Clarence Avenue, Trafford Park, Manchester, M17 1QS.

1.1
Reporting period

The accounting period is from incorporation on 12 May 2022 to 30 June 2023. The reporting period was amended to align to that of other group companies.

1.2
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.3
Going concern

After reviewing the company's forecasts and projections, the directortrues have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.

 

The company is reliant on the continued support of the ultimate parent company, Property Alliance Group Limited. Property Alliance Group Limited is considered to have the ability to continue to support the company for at least the next 12 months.

 

Thus, the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.4
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost

comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Work in progress includes properties that are undergoing development which have not achieved practical completion at the balance sheet date or an unconditional contract to sell the property has not been exchanged at the balance sheet date.

 

Work in progress is valued at the lower of cost and net realisable value. Cost includes all expenses of

acquisition and development incurred at the balance sheet date. Net realisable value is the estimated selling price less further costs expected to be incurred to completion and disposal.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

ALLIANCE UBS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 JUNE 2023
1
Accounting policies
(Continued)
- 3 -
1.6
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.

 

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 debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Classification of 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 deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

2
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

Number
Total
3
ALLIANCE UBS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 JUNE 2023
- 4 -
3
Stocks
£
Work in progress
1,995,043
4
Debtors
Amounts falling due within one year:
£
Other debtors
157,564
5
Creditors: amounts falling due within one year
£
Trade creditors
427,268
Amounts owed to group undertakings
868,806
Other creditors
1,203,740
2,499,814
6
Called up share capital
Ordinary share capital
Number
£
Issued and fully paid
Ordinary shares of £1 each
2
2
7
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Senior Statutory Auditor:
Zoë Duffy BFP FCA
Statutory Auditor:
UHY Hacker Young Manchester LLP
ALLIANCE UBS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 JUNE 2023
- 5 -
8
Related party transactions

By virtue of each owning 50% of the issued share capital of the company, Property Alliance Group Limited and Moda Living Limited are related parties.

 

At the year end and included in 'Creditors: amounts falling due within a year' is £868,806 due to Property Alliance Group Limited and £865,120 due to Moda Living Limited.

 

The ultimate parent company is Property Alliance Group Limited.

 

The company has taken advantage of the exemption in FRS102 not to disclose transactions with wholly owned subsidiaries.

9
Parent company

The ultimate parent company is Property Alliance Group Limited, a company registered in England and Wales.

 

The company is ultimately controlled by D Russell by virtue of his shareholding in the ultimate parent

company, Property Alliance Group Limited.

 

The consolidated financial statements of the group may be obtained from Property Alliance Group Limited at Alliance House, Westpoint Enterprise Park, Clarence Avenue, Trafford Park, Manchester, M17 1QS.

 

2023-06-302022-05-12false09 February 2024CCH SoftwareCCH Accounts Production 2023.300No description of principal activityThis audit opinion is unqualifiedD RussellA RussellA ParkerO Brooksfalse141035032022-05-122023-06-30141035032023-06-3014103503core:CurrentFinancialInstrumentscore:WithinOneYear2023-06-3014103503core:CurrentFinancialInstruments2023-06-3014103503core:ShareCapital2023-06-3014103503core:RetainedEarningsAccumulatedLosses2023-06-3014103503bus:Director12022-05-122023-06-3014103503core:WithinOneYear2023-06-3014103503bus:PrivateLimitedCompanyLtd2022-05-122023-06-3014103503bus:SmallCompaniesRegimeForAccounts2022-05-122023-06-3014103503bus:FRS1022022-05-122023-06-3014103503bus:Audited2022-05-122023-06-3014103503bus:Director22022-05-122023-06-3014103503bus:Director32022-05-122023-06-3014103503bus:Director42022-05-122023-06-3014103503bus:FullAccounts2022-05-122023-06-30xbrli:purexbrli:sharesiso4217:GBP