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COMPANY REGISTRATION NUMBER: 12860432
Altrix Group Limited
Filleted Unaudited Financial Statements
30 September 2023
Altrix Group Limited
Statement of Financial Position
30 September 2023
2023
2022
Note
£
£
£
£
Fixed assets
Tangible assets
6
221,668
140,015
Current assets
Stocks
98,762
Debtors
7
546,468
91,637
Cash at bank and in hand
28,289
206,002
---------
---------
673,519
297,639
Creditors: amounts falling due within one year
8
365,110
84,640
---------
---------
Net current assets
308,409
212,999
---------
---------
Total assets less current liabilities
530,077
353,014
Creditors: amounts falling due after more than one year
9
105,630
64,062
Provisions
Taxation including deferred tax
49,026
27,349
---------
---------
Net assets
375,421
261,603
---------
---------
Capital and reserves
Called up share capital
10
2
1
Profit and loss account
375,419
261,602
---------
---------
Shareholders funds
375,421
261,603
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- 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 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Altrix Group Limited
Statement of Financial Position (continued)
30 September 2023
These financial statements were approved by the board of directors and authorised for issue on 17 October 2023 , and are signed on behalf of the board by:
Mr A P Bateman
Director
Company registration number: 12860432
Altrix Group Limited
Notes to the Financial Statements
Year ended 30 September 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Helms Deep, Dale Road, Brantingham, Brough, HU15 1QN, England.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
25% reducing balance
Motor vehicles
-
25% reducing balance
Equipment
-
25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Government grants are recognised using the accrual model and the performance model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 6 (2022: 7 ).
5. Tax on profit
Major components of tax expense
2023
2022
£
£
Current tax:
UK current tax expense
33,844
19,515
Deferred tax:
Origination and reversal of timing differences
21,677
10,484
--------
--------
Tax on profit
55,521
29,999
--------
--------
6. Tangible assets
Plant and machinery
Motor vehicles
Equipment
Total
£
£
£
£
Cost
At 1 October 2022
2,925
178,099
13,201
194,225
Additions
135,239
534
135,773
Disposals
( 26,250)
( 26,250)
-------
---------
--------
---------
At 30 September 2023
2,925
287,088
13,735
303,748
-------
---------
--------
---------
Depreciation
At 1 October 2022
1,186
48,209
4,815
54,210
Charge for the year
435
36,687
2,139
39,261
Disposals
( 11,391)
( 11,391)
-------
---------
--------
---------
At 30 September 2023
1,621
73,505
6,954
82,080
-------
---------
--------
---------
Carrying amount
At 30 September 2023
1,304
213,583
6,781
221,668
-------
---------
--------
---------
At 30 September 2022
1,739
129,890
8,386
140,015
-------
---------
--------
---------
Finance leases and hire purchase contracts
Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:
Motor vehicles
£
At 30 September 2023
171,802
---------
At 30 September 2022
97,751
---------
7. Debtors
2023
2022
£
£
Trade debtors
504,585
90,532
Prepayments and accrued income
1,047
1,105
Other debtors
40,836
---------
--------
546,468
91,637
---------
--------
8. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
191,565
24,588
Accruals and deferred income
6,884
7,343
Corporation tax
33,844
19,515
Social security and other taxes
17,706
16,579
Obligations under finance leases and hire purchase contracts
35,385
16,323
Director loan accounts
79,726
292
---------
--------
365,110
84,640
---------
--------
9. Creditors: amounts falling due after more than one year
2023
2022
£
£
Obligations under finance leases and hire purchase contracts
105,630
64,062
---------
--------
10. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary shares of £ 1 each
1
1
1
1
Ordinary 'A' shares of £ 1 each
1
1
----
----
----
----
2
2
1
1
----
----
----
----
11. Director's advances, credits and guarantees
During the year there were no director's advances, credits and guarantees.