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Company registration number: 06520778
The Allen Groupe Limited
Unaudited filleted financial statements
31 March 2024
The Allen Groupe Limited
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
The Allen Groupe Limited
Directors and other information
Directors
Mr John Edward Parnis
Mr Roderick Paul Macdonald Gillies
Company number 06520778
Registered office Hangar 2 Bay 5
Farnborough Airport
Hampshire
England
GU14 6XA
Accountants BG Partnership
4th Floor
58-59 Great Marlborough Street
London
W1F 7JY
The Allen Groupe Limited
Statement of financial position
31 March 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 5 77,894 73,044
Investments 6 13,769 13,769
_______ _______
91,663 86,813
Current assets
Debtors 7 219,797 192,309
Cash at bank and in hand 96,583 66,972
_______ _______
316,380 259,281
Creditors: amounts falling due
within one year 8 ( 205,699) ( 224,153)
_______ _______
Net current assets 110,681 35,128
_______ _______
Total assets less current liabilities 202,344 121,941
Provisions for liabilities 9 ( 14,317) ( 12,776)
_______ _______
Net assets 188,027 109,165
_______ _______
Capital and reserves
Called up share capital 1 1
Profit and loss account 188,026 109,164
_______ _______
Shareholders funds 188,027 109,165
_______ _______
For the year ending 31 March 2024 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 financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
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.
These financial statements were approved by the board of directors and authorised for issue on 25 April 2024 , and are signed on behalf of the board by:
Mr John Edward Parnis
Director
Company registration number: 06520778
The Allen Groupe Limited
Notes to the financial statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Hangar 2 Bay 5, Farnborough Airport, Hampshire, England, GU14 6XA.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and 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.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods 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.When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period.When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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 are 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 capital and reserves, 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 capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves 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 - 33 % straight line
Fittings fixtures and equipment - 100 % straight line
Motor vehicles - 25 % straight line
Airshow Equipment - 33 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 23 (2023: 17 ).
5. Tangible assets
Plant and machinery Fixtures, fittings and equipment Motor vehicles Airshow equipment Total
£ £ £ £ £
Cost
At 1 April 2023 78,274 67,553 146,961 8,455 301,243
Additions 527 4,295 62,528 - 67,350
Disposals - - ( 30,560) - ( 30,560)
_______ _______ _______ _______ _______
At 31 March 2024 78,801 71,848 178,929 8,455 338,033
_______ _______ _______ _______ _______
Depreciation
At 1 April 2023 53,596 61,189 104,958 8,455 228,198
Charge for the year 8,987 10,152 18,532 - 37,671
Disposals - - ( 5,730) - ( 5,730)
_______ _______ _______ _______ _______
At 31 March 2024 62,583 71,341 117,760 8,455 260,139
_______ _______ _______ _______ _______
Carrying amount
At 31 March 2024 16,218 507 61,169 - 77,894
_______ _______ _______ _______ _______
At 31 March 2023 24,678 6,364 42,003 - 73,045
_______ _______ _______ _______ _______
6. Investments
Shares in group undertakings and participating interests Total
£ £
Cost
At 1 April 2023 and 31 March 2024 13,769 13,769
_______ _______
Impairment
At 1 April 2023 and 31 March 2024 - -
_______ _______
Carrying amount
At 31 March 2024 13,769 13,769
_______ _______
At 31 March 2023 13,769 13,769
_______ _______
7. Debtors
2024 2023
£ £
Trade debtors 94,334 98,174
Amounts owed by group undertakings and undertakings in which the company has a participating interest 105,825 58,431
Other debtors 19,638 35,704
_______ _______
219,797 192,309
_______ _______
8. Creditors: amounts falling due within one year
2024 2023
£ £
Trade creditors 20,196 31,308
Corporation tax 12,151 6,373
Social security and other taxes 11,187 8,868
Other creditors 162,165 177,604
_______ _______
205,699 224,153
_______ _______
9. Provisions
Deferred tax (note 10) Total
£ £
At 1 April 2023 12,776 12,776
Additions 1,541 1,541
_______ _______
At 31 March 2024 14,317 14,317
_______ _______
10. Deferred tax
The deferred tax included in the statement of financial position is as follows:
2024 2023
£ £
Included in provisions (note 9) 14,317 12,776
_______ _______
The deferred tax account consists of the tax effect of timing differences in respect of:
2024 2023
£ £
Accelerated capital allowances 14,317 12,776
_______ _______
11. Related party transactions
At the reporting date the company owed £4,043 (2023: £3,950) to a director of the company.