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Registration number: 13752903

Alc Telford Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

Alc Telford Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 11

 

Alc Telford Ltd

Company Information

Directors

Mrs LE Connell

Mr AK Connell

Registered office

Unit 9 Queensway Link Ind Est
Stafford Park 17
Telford
TF3 3DG

 

Alc Telford Ltd

(Registration number: 13752903)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

4

3,600

4,050

Tangible assets

5

45,734

36,515

 

49,334

40,565

Current assets

 

Stocks

6

62,350

61,780

Debtors

7

77,552

92,213

Cash at bank and in hand

 

86,536

80,330

 

226,438

234,323

Creditors: Amounts falling due within one year

8

(170,661)

(207,736)

Net current assets

 

55,777

26,587

Total assets less current liabilities

 

105,111

67,152

Creditors: Amounts falling due after more than one year

8

(6,661)

-

Provisions for liabilities

(8,689)

(6,938)

Net assets

 

89,761

60,214

Capital and reserves

 

Called up share capital

1

1

Retained earnings

89,760

60,213

Shareholders' funds

 

89,761

60,214

 

Alc Telford Ltd

(Registration number: 13752903)
Balance Sheet as at 31 December 2023 (continued)

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 27 March 2024 and signed on its behalf by:
 

.........................................
Mrs LE Connell
Director

   
     
 

Alc Telford Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 9 Queensway Link Ind Est
Stafford Park 17
Telford
TF3 3DG
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Alc Telford Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

2

Accounting policies (continued)

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant & machinery

10 years straight line

Fixtures & fittings

10 years straight line

Motor Vans

3 years straight line

Office equipment

5 years straight line

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

10 years straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Alc Telford Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

2

Accounting policies (continued)

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Alc Telford Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

2

Accounting policies (continued)

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 6 (2022 - 6).

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 January 2023

4,500

4,500

At 31 December 2023

4,500

4,500

Amortisation

At 1 January 2023

450

450

Amortisation charge

450

450

At 31 December 2023

900

900

Carrying amount

At 31 December 2023

3,600

3,600

At 31 December 2022

4,050

4,050

 

Alc Telford Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

5

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2023

18,084

9,377

7,921

6,200

41,582

Additions

175

4,779

-

14,500

19,454

At 31 December 2023

18,259

14,156

7,921

20,700

61,036

Depreciation

At 1 January 2023

1,746

797

1,569

955

5,067

Charge for the year

1,820

1,139

1,584

5,692

10,235

At 31 December 2023

3,566

1,936

3,153

6,647

15,302

Carrying amount

At 31 December 2023

14,693

12,220

4,768

14,053

45,734

At 31 December 2022

16,338

8,580

6,352

5,245

36,515

 

Alc Telford Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

6

Stocks

2023
£

2022
£

Raw materials and consumables

62,350

61,780

7

Debtors

Current

2023
£

2022
£

Trade debtors

67,815

81,075

Prepayments

9,737

11,138

 

77,552

92,213

 

Alc Telford Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

8

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

9

4,674

-

Trade creditors

 

35,219

44,463

Taxation and social security

 

18,185

15,032

Accruals and deferred income

 

14,282

20,562

Other creditors

 

98,301

127,679

 

170,661

207,736

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

9

6,661

-

9

Loans and borrowings

Non-current loans and borrowings

2023
£

2022
£

HP and finance lease liabilities

6,661

-

Current loans and borrowings

2023
£

2022
£

Hire purchase liabilities

4,674

-

 

Alc Telford Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023 (continued)

10

Related party transactions

Loans from related parties

2023

Entities with joint control or significant influence
£

Total
£

At start of period

126,000

126,000

Repaid

(28,000)

(28,000)

At end of period

98,000

98,000

2022

Entities with joint control or significant influence
£

Total
£

Advanced

126,000

126,000

At end of period

126,000

126,000

Terms of loans from related parties

Expresspartner Ltd and ALC Wolverhampton Ltd.

ALC Telford Ltd has traded with Expresspartner Ltd and ALC Wolverhampton Ltd during the year. Expresspartner Ltd has advanced ALC Telford Ltd a loan of £45,500. ALC Wolverhampton Ltd has also advanced ALC Telford a loan of £52,500. There are no repayment terms or interest charged on these loans.