Registered number
10197979
ALS Industrial Services Ltd
Filleted Accounts
31 August 2023
ALS Industrial Services Ltd
Registered number: 10197979
Balance Sheet
as at 31 August 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 18,452 16,155
Tangible assets 4 169,637 129,893
Investments 5 350,670 350,670
538,759 496,718
Current assets
Stocks 243,751 186,481
Debtors 6 451,277 327,496
Cash at bank and in hand 105,635 245,128
800,663 759,105
Creditors: amounts falling due within one year 7 (788,143) (745,335)
Net current assets 12,520 13,770
Total assets less current liabilities 551,279 510,488
Creditors: amounts falling due after more than one year 8 (195,334) (211,151)
Provisions for liabilities (30,715) (21,012)
Net assets 325,230 278,325
Capital and reserves
Called up share capital 100 100
Profit and loss account 325,130 278,225
Shareholders' funds 325,230 278,325
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Andrew Lever SPEECHLY
Director
Approved by the board on 18 December 2023
ALS Industrial Services Ltd
Notes to the Accounts
for the year ended 31 August 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods (including parts-only sales) is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services includes one-off repairs and maintenance, and periodic maintenance contracts. Service components and service materials supplied are an integral element of the service provision, and revenue is not recognised separately. Revenue from one-off service transactions is recognised at the point of service delivery. Revenue from contracts for the delivery of services over a specified period of time is recognised on a straight line basis over the period.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Buildings (leasehold improvements) Straight line over remaining lease term
Motor vehicles over 4 to 5 years
Office equipment over 5 years
Computer, tools & test equipment over 3 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised. In valuing the closing stock, an adjustment reflecting the fair value of slow moving and obsolete stock, calculated as percentage of cost, is recognised as an expense in the period as follows:
- held in stock for more than 1 year - 25%
- held in stock for more than 2 years - 50%
- held in stock for more than 3 years - 75%
- held in stock for more than 4 years - 100%
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 17 17
3 Intangible fixed assets Under Operational Total
Software & IT systems development (in use)
£ £ £
Cost
At 1 September 2022 4,005 13,695 17,700
Additions 5,168 5,168
Transfers (commissioned in year)) (4,005) 4,005 -
At 31 August 2023 5,168 17,700 22,868
Amortisation
At 1 September 2022 - 1,545 1,545
Provided during the year - 2,871 2,871
At 31 August 2023 - 4,416 4,416
Net book value
At 31 August 2023 5,168 13,284 18,452
At 31 August 2022 4,005 12,150 16,155
Intangible software & IT systems are amortised over 5 years (straight line) from the date of commissioning being the expected economic life.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 September 2022 4,554 59,980 154,279 218,813
Additions - 8,603 85,009 93,612
Disposals - - (19,990) (19,990)
At 31 August 2023 4,554 68,583 219,298 292,435
Depreciation
At 1 September 2022 2,130 36,922 49,868 88,920
Charge for the year 828 14,932 38,108 53,868
On disposals - - (19,990) (19,990)
At 31 August 2023 2,958 51,854 67,986 122,798
Net book value
At 31 August 2023 1,596 16,729 151,312 169,637
At 31 August 2022 2,424 23,058 104,411 129,893
5 Investments
Investments in
subsidiary
undertakings
£
Cost
At 1 September 2022 350,670
At 31 August 2023 350,670
The Company acquired 100% of the share capital of Beds. Compressor Service Limited (CRN 02632297) in May 2022.
6 Debtors 2023 2022
£ £
Trade debtors 397,301 275,400
Other debtors 53,976 52,096
451,277 327,496
7 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 49,095 45,377
Obligations under finance lease and hire purchase contracts 5,897 -
Trade creditors 232,719 100,658
Amounts owed to group undertakings and undertakings in which the company has a participating interest 26,957 -
Taxation and social security costs 65,786 46,164
Deferred income 394,145 366,655
Pension Contributions Payable 3,616 3,270
Deferred consideration - Acquisition of subsidiary - 171,370
Other creditors 9,928 11,841
788,143 745,335
8 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 162,056 211,151
Obligations under finance lease and hire purchase contracts 33,278 -
195,334 211,151
9 Other financial commitments 2023 2022
£ £
Total future minimum payments under non-cancellable operating leases 81,427 69,616
10 Other information
ALS Industrial Services Ltd is a private company limited by shares and incorporated in England. Its registered office is:
The Corner House
2 Canberra Close
Wellesbourne
Warwick
CV35 9TR
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