Company registration number 03916731 (England and Wales)
ALLAN CONTROLS & AUTOMATION LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JANUARY 2024
PAGES FOR FILING WITH REGISTRAR
ALLAN CONTROLS & AUTOMATION LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
ALLAN CONTROLS & AUTOMATION LIMITED
BALANCE SHEET
AS AT
30 JANUARY 2024
30 January 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
31,191
39,449
Tangible assets
4
25,705
190,921
56,896
230,370
Current assets
Stocks
150,146
260,000
Debtors
525,270
747,161
Cash at bank and in hand
429
141,869
675,845
1,149,030
Creditors: amounts falling due within one year
(710,754)
(1,208,091)
Net current liabilities
(34,909)
(59,061)
Total assets less current liabilities
21,987
171,309
Creditors: amounts falling due after more than one year
(303,748)
(485,141)
Net liabilities
(281,761)
(313,832)
Capital and reserves
Called up share capital
200
200
Profit and loss reserves
(281,961)
(314,032)
Total equity
(281,761)
(313,832)
In accordance with section 444 of the Companies Act 2006, all of the members of the company have consented to the preparation of abridged financial statements pursuant to paragraph 1A of Schedule 1 to the Small Companies and Groups (Accounts and Directors’ Report) Regulations (SI 2008/409)(b).
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their 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.
ALLAN CONTROLS & AUTOMATION LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 JANUARY 2024
30 January 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 26 June 2024 and are signed on its behalf by:
Mr C C Allan
Director
Company registration number 03916731 (England and Wales)
ALLAN CONTROLS & AUTOMATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JANUARY 2024
- 3 -
1
Accounting policies
Company information
Allan Controls & Automation Limited is a private company limited by shares incorporated in England and Wales. The registered office is Suite 2, Albion House, 2 Etruria Office Village, Forge Lane, Etruria, Stoke on Trent, Staffordshire, ST1 5RQ.
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. The principal accounting policies adopted are set out below.
1.2
Going concern
Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company is returning to a profitable position and is a going concern given the support of the directors, bank and trade suppliers.
1.3
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
1.4
Intangible fixed assets other than goodwill
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Computer software is being amortised evenly over its estimated useful life of ten years.
Software
10% Straight Line
1.5
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Leasehold improvements
20% Reducing Balance
Plant and equipment
15% Reducing Balance
Fixtures and fittings
10% Straight Line
Computers
33% Straight Line
Motor vehicles
25% Reducing Balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
ALLAN CONTROLS & AUTOMATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JANUARY 2024
1
Accounting policies
(Continued)
- 4 -
1.6
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.
1.7
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.8
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.9
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.10
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.
ALLAN CONTROLS & AUTOMATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JANUARY 2024
- 5 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
17
29
3
Intangible fixed assets
Total
£
Cost
At 31 January 2023 and 30 January 2024
125,187
Amortisation and impairment
At 31 January 2023
85,738
Amortisation charged for the year
8,258
At 30 January 2024
93,996
Carrying amount
At 30 January 2024
31,191
At 30 January 2023
39,449
ALLAN CONTROLS & AUTOMATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JANUARY 2024
- 6 -
4
Tangible fixed assets
Leasehold improvements
Plant and equipment
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
£
£
Cost
At 31 January 2023
83,737
136,241
22,157
93,163
173,200
508,498
Additions
375
375
Disposals
(83,737)
(132,507)
(3,611)
(499)
(108,180)
(328,534)
At 30 January 2024
3,734
18,546
93,039
65,020
180,339
Depreciation and impairment
At 31 January 2023
51,325
51,982
12,059
86,169
116,042
317,577
Depreciation charged in the year
6,269
10,599
1,835
4,775
10,017
33,495
Eliminated in respect of disposals
(57,594)
(60,547)
(2,206)
(499)
(75,592)
(196,438)
At 30 January 2024
2,034
11,688
90,445
50,467
154,634
Carrying amount
At 30 January 2024
1,700
6,858
2,594
14,553
25,705
At 30 January 2023
32,412
84,259
10,098
6,994
57,158
190,921
5
Directors' transactions
The below advances were interest free, had no fixed repayment date and was unsecured.
Description
Opening balance
Amounts advanced
Amounts repaid
Closing balance
£
£
£
£
Colin Allan
35,054
124,194
(173,760)
(14,512)
David Ross
(298)
16,000
(70)
15,632
34,756
140,194
(173,830)
1,120
6
Financial commitments, guarantees and contingent liabilities
Creditors include bank loans which are secured of £502,067 (2023 – £680,871). The bank loan is secured by a fixed and floating charge over the company's assets.
ALLAN CONTROLS & AUTOMATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JANUARY 2024
- 7 -
7
Operating lease commitments
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2024
2023
£
£
5,715
45,344