Company registration number 12590095 (England and Wales)
ALCOR SOLUTIONS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023
PAGES FOR FILING WITH REGISTRAR
ALCOR SOLUTIONS LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
ALCOR SOLUTIONS LTD
BALANCE SHEET
- 1 -
2023
2022
as restated
Notes
£
£
£
£
Current assets
Debtors
3
2,411
566
Cash at bank and in hand
3,811
27,303
6,222
27,869
Creditors: amounts falling due within one year
5
(28,767)
(27,282)
Net current (liabilities)/assets
(22,545)
587
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
(22,645)
487
Total equity
(22,545)
587
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
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 and signed by the director and authorised for issue on 5 December 2023
Mrs MA Singh
Director
Company Registration No. 12590095
ALCOR SOLUTIONS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023
- 2 -
1
Accounting policies
Company information
Alcor Solutions Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Elthorne Gate, 64 High Street, Pinner, Middlesex, HA5 5QA.
1.1
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, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.2
Going concern
The Company has incurred net operating loss of £true23,131. Net current liability of £22,545.The parent company has confirmed that it will provide continuous financial support to the Company at least for 12 month from the date of approval of this financial statements. The director continues to adopt going concern basis.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.
1.4
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.5
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
ALCOR SOLUTIONS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2023
- 3 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
6
5
3
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
2,411
566
4
Prior period adjustment
Changes to the balance sheet
As previously reported
Adjustment
As restated at 31 May 2022
£
£
£
Creditors due within one year
Other creditors
(788,128)
788,128
Capital and reserves
Profit and loss reserves
(787,641)
788,128
487
Changes to the profit and loss account
As previously reported
Adjustment
As restated
Period ended 31 May 2022
£
£
£
Amounts written off investments
-
788,128
788,128
(Loss)/profit for the financial period
(663,716)
788,128
124,412
ALCOR SOLUTIONS LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2023
4
Prior period adjustment
(Continued)
- 4 -
Reconciliation of changes in equity
1 June
31 May
2021
2022
£
£
Adjustments to prior year
Amount written off investments
-
788,128
Equity as previously reported
(123,825)
(787,541)
Equity as adjusted
(123,825)
587
Analysis of the effect upon equity
Profit and loss reserves
-
788,128
Reconciliation of changes in (loss)/profit for the previous financial period
2022
£
Adjustments to prior year
Amount written off investments
788,128
Loss as previously reported
(663,716)
Profit as adjusted
124,412
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
133
Taxation and social security
28,634
27,282
28,767
27,282
6
Parent company
The ultimate controlling party is Mrs MA Singh and Mr A Singh.
The ultimate parent company is Alcor Solutions Inc. 7600 Dublin Blvd Ste 230, CA 94568.