IRIS Accounts Production v24.1.9.2 07014261 director 1.11.22 31.10.23 31.10.23 false true false false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh070142612022-10-31070142612023-10-31070142612022-11-012023-10-31070142612021-10-31070142612021-11-012022-10-31070142612022-10-3107014261ns15:EnglandWales2022-11-012023-10-3107014261ns14:PoundSterling2022-11-012023-10-3107014261ns10:Director12022-11-012023-10-3107014261ns10:PrivateLimitedCompanyLtd2022-11-012023-10-3107014261ns10:SmallEntities2022-11-012023-10-3107014261ns10:AuditExempt-NoAccountantsReport2022-11-012023-10-3107014261ns10:SmallCompaniesRegimeForAccounts2022-11-012023-10-3107014261ns10:FullAccounts2022-11-012023-10-310701426112022-11-012023-10-3107014261ns10:OrdinaryShareClass12022-11-012023-10-3107014261ns10:CompanySecretary12022-11-012023-10-3107014261ns10:RegisteredOffice2022-11-012023-10-3107014261ns5:CurrentFinancialInstruments2023-10-3107014261ns5:CurrentFinancialInstruments2022-10-3107014261ns5:Non-currentFinancialInstruments2023-10-3107014261ns5:Non-currentFinancialInstruments2022-10-3107014261ns5:ShareCapital2023-10-3107014261ns5:ShareCapital2022-10-3107014261ns5:RetainedEarningsAccumulatedLosses2023-10-3107014261ns5:RetainedEarningsAccumulatedLosses2022-10-3107014261ns5:NetGoodwill2022-11-012023-10-3107014261ns5:IntangibleAssetsOtherThanGoodwill2022-11-012023-10-3107014261ns5:NetGoodwill2022-10-3107014261ns5:NetGoodwill2023-10-3107014261ns5:NetGoodwill2022-10-3107014261ns5:PlantMachinery2022-10-3107014261ns5:FurnitureFittings2022-10-3107014261ns5:PlantMachinery2022-11-012023-10-3107014261ns5:FurnitureFittings2022-11-012023-10-3107014261ns5:PlantMachinery2023-10-3107014261ns5:FurnitureFittings2023-10-3107014261ns5:PlantMachinery2022-10-3107014261ns5:FurnitureFittings2022-10-3107014261ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-10-3107014261ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-10-3107014261ns5:WithinOneYear2023-10-3107014261ns5:WithinOneYear2022-10-3107014261ns10:OrdinaryShareClass12023-10-3107014261ns5:RetainedEarningsAccumulatedLosses2022-10-3107014261ns5:RetainedEarningsAccumulatedLosses2022-11-012023-10-31
REGISTERED NUMBER: 07014261 (England and Wales)









ALPHABYTE IT LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023






ALPHABYTE IT LIMITED (REGISTERED NUMBER: 07014261)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ALPHABYTE IT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2023







DIRECTOR: R S Owen





SECRETARY: R S Owen





REGISTERED OFFICE: 9/10 Connies House
Rhymney River Bridge
Cardiff
SOUTH GLAMORGAN
CF23 9AF





REGISTERED NUMBER: 07014261 (England and Wales)






ALPHABYTE IT LIMITED (REGISTERED NUMBER: 07014261)

BALANCE SHEET
31 OCTOBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 7,614 6,223
7,614 6,223

CURRENT ASSETS
Stocks 6 5,000 5,000
Debtors 7 110,383 107,631
Cash at bank 70,237 102,279
185,620 214,910
CREDITORS
Amounts falling due within one year 8 161,258 183,400
NET CURRENT ASSETS 24,362 31,510
TOTAL ASSETS LESS CURRENT
LIABILITIES

31,976

37,733

CREDITORS
Amounts falling due after more than one
year

9

17,532

26,667
NET ASSETS 14,444 11,066

CAPITAL AND RESERVES
Called up share capital 12 100 100
Retained earnings 13 14,344 10,966
SHAREHOLDERS' FUNDS 14,444 11,066

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

ALPHABYTE IT LIMITED (REGISTERED NUMBER: 07014261)

BALANCE SHEET - continued
31 OCTOBER 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 26 July 2024 and were signed by:





R S Owen - Director


ALPHABYTE IT LIMITED (REGISTERED NUMBER: 07014261)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

1. STATUTORY INFORMATION

Alphabyte It Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern
The financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for the foreseeable future. In making his assessment, the director has reviewed the balance sheet, the likely future cashflows of the business and has considered the facilities that are available to the company along with his continued support.

At the date of approving the financial statements the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and that the going concern basis of accounting remains appropriate. The directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Significant judgements and estimates
In the application of the company's accounting policies, which are described in note 1, management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate id revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

ALPHABYTE IT LIMITED (REGISTERED NUMBER: 07014261)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

Depreciation is provided at the following annual rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives:

Computer equipment - 25% on cost
Fixtures & Fittings - 25% on cost
Motor Vehicles - 25% on cost
Plant & Machinery - 25% on cost

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Stocks
Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell.

Cash and cash equivalents
Cash and cash equivalents are basic financial instruments and include cash in hand and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Financial instruments
The company has elected to apply the provisions of Section 11 "Basic Financial Instruments".
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument. Financial assets are liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include trade and other debtors, loans to related companies and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the financial asset is measured at the present value of the future receipts discounted at a market rate of interest.

Basic financial liabilities
Basic financial liabilities, including trade and other creditors, loans to related companies and bank loans are initially recognised at transaction price unless the arrangement constitutes a financial transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest.


ALPHABYTE IT LIMITED (REGISTERED NUMBER: 07014261)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Turnover
Turnover is measured at fair value of the consideration received or receivable net of VAT and discounts. The policies adopted for the recognition of turnover are as follows:

Rendering of Services:

Turnover relates to computer hardware sales which is recognised when all of the significant risk and rewards of ownership are transferred to the customer. Engineer support is billed in advance of the contractual period, deferred revenue is then recognised over the contractual period as the service is provided.

Provisions
Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefit will be required in settlement and the amount can be reliable estimated.

ALPHABYTE IT LIMITED (REGISTERED NUMBER: 07014261)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

2. ACCOUNTING POLICIES - continued

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the assets cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2022 - 10 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 November 2022
and 31 October 2023 23,167
AMORTISATION
At 1 November 2022
and 31 October 2023 23,167
NET BOOK VALUE
At 31 October 2023 -
At 31 October 2022 -

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1 November 2022 23,663 2,730 26,393
Additions 5,210 - 5,210
At 31 October 2023 28,873 2,730 31,603
DEPRECIATION
At 1 November 2022 17,440 2,730 20,170
Charge for year 3,819 - 3,819
At 31 October 2023 21,259 2,730 23,989
NET BOOK VALUE
At 31 October 2023 7,614 - 7,614
At 31 October 2022 6,223 - 6,223

ALPHABYTE IT LIMITED (REGISTERED NUMBER: 07014261)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

6. STOCKS
2023 2022
£    £   
Finished goods 5,000 5,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 105,442 106,624
Other debtors 4,941 1,007
110,383 107,631

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 9,969 10,000
Trade creditors 5,820 15,583
Taxation and social security 55,761 58,430
Other creditors 89,708 99,387
161,258 183,400

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Bank loans 17,532 26,667

10. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 11,053 11,915

11. SECURED DEBTS

Included in the bank loans is a loan provided by Development Bank Wales. The bank holds a debenture and legal charge over the assets of the company.

ALPHABYTE IT LIMITED (REGISTERED NUMBER: 07014261)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

13. RESERVES
Retained
earnings
£   

At 1 November 2022 10,966
Profit for the year 58,920
Dividends (55,542 )
At 31 October 2023 14,344

14. TRANSACTIONS WITH DIRECTORS

As at 31 October 2023 the company owes the director £25,046 (2022: £53,624) which is included within creditor amounts falling due within one year.

The balance is interest free and repayable on demand.