Company registration number 06941675 (England and Wales)
ALTHAUS DIGITAL LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
PAGES FOR FILING WITH REGISTRAR
ALTHAUS DIGITAL LIMITED
COMPANY INFORMATION
Directors
Mr J R Stamp
Mr M J Loveland
Mr P N Buller
Mr J Stamp
Mr D J Wastie
Mrs A J Seabright
(Appointed 23 April 2024)
Company number
06941675
Registered office
Charlotte House
Stanier Way
The Wyvern Business Park
Derby
DE21 6BF
Accountants
HSKS Greenhalgh Ltd
3rd Floor
Butt Dyke House
33 Park Row
Nottingham
NG1 6EE
Business address
Commerce House
2 Victoria Way
Pride Park
Derby
DE24 8AN
ALTHAUS DIGITAL LIMITED
CONTENTS
Page
Accountants' report
1
Statement of financial position
2 - 3
Notes to the financial statements
4 - 10
ALTHAUS DIGITAL LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF ALTHAUS DIGITAL LIMITED FOR THE YEAR ENDED 31 JANUARY 2024
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Althaus Digital Limited for the year ended 31 January 2024 which comprise, the statement of financial position and the related notes from the company’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made solely to the board of directors of Althaus Digital Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Althaus Digital Limited and state those matters that we have agreed to state to the board of directors of Althaus Digital Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Althaus Digital Limited and its board of directors as a body, for our work or for this report.

It is your duty to ensure that Althaus Digital Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Althaus Digital Limited. You consider that Althaus Digital Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Althaus Digital Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

HSKS Greenhalgh Ltd
30 July 2024
HSKS Greenhalgh Ltd is part of the Dains Group
3rd Floor
Butt Dyke House
33 Park Row
Nottingham
NG1 6EE
ALTHAUS DIGITAL LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
31 JANUARY 2024
31 January 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
888
1,626
Tangible assets
4
45,779
47,492
46,667
49,118
Current assets
Debtors
5
299,844
221,275
Cash at bank and in hand
164,395
152,529
464,239
373,804
Creditors: amounts falling due within one year
6
(140,887)
(138,833)
Net current assets
323,352
234,971
Total assets less current liabilities
370,019
284,089
Provisions for liabilities
(11,667)
(11,424)
Net assets
358,352
272,665
Capital and reserves
Called up share capital
7
1,008
1,008
Profit and loss reserves
357,344
271,657
Total equity
358,352
272,665

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

For the financial year ended 31 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.

ALTHAUS DIGITAL LIMITED
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT
31 JANUARY 2024
31 January 2024
- 3 -
The financial statements were approved by the board of directors and authorised for issue on 29 July 2024 and are signed on its behalf by:
Mr M J Loveland
Director
Company registration number 06941675 (England and Wales)
ALTHAUS DIGITAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
- 4 -
1
Accounting policies
Company information

Althaus Digital Limited is a private company limited by shares incorporated in England and Wales. The registered office is Charlotte House, Stanier Way, The Wyvern Business Park, Derby, DE21 6BF.

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
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

 

Apprenticeship fees are recognised on a straight line bases over the delivery period of training. Any completion payments are recognised in the month in which end point assessment is completed.

 

Bootcamps are recognised on a straight line basis over the delivery period of the course based on the minimum expected fee to be received, calculated using an average course completion rate and learner progression rate. Any adjustments following course completion and/or learner progression are recognised in month of completion and progression respectively.

1.3
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.

 

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation 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:

Software
over the useful life of 1.5 years
1.4
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.

ALTHAUS DIGITAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
1
Accounting policies
(Continued)
- 5 -

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
over the life of the lease on a straight line basis
Plant and equipment
25% reducing balance
Fixtures and fittings
25% reducing balance
Computers
over the useful life of 3 years

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.

1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the 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 an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.6
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.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and 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 debtors 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 transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

ALTHAUS DIGITAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
1
Accounting policies
(Continued)
- 6 -
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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 income statement 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 income statement, 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
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.10
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

ALTHAUS DIGITAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
1
Accounting policies
(Continued)
- 7 -
1.11
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 statement of financial position 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.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

1.12
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

1.13
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
36
24
ALTHAUS DIGITAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 8 -
3
Intangible fixed assets
Other
£
Cost
At 1 February 2023
16,825
Additions
520
At 31 January 2024
17,345
Amortisation and impairment
At 1 February 2023
15,199
Amortisation charged for the year
1,258
At 31 January 2024
16,457
Carrying amount
At 31 January 2024
888
At 31 January 2023
1,626
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 February 2023
10,014
64,110
74,124
Additions
6,756
11,922
18,678
Disposals
-
0
(150)
(150)
At 31 January 2024
16,770
75,882
92,652
Depreciation and impairment
At 1 February 2023
484
26,148
26,632
Depreciation charged in the year
3,322
16,982
20,304
Eliminated in respect of disposals
-
0
(63)
(63)
At 31 January 2024
3,806
43,067
46,873
Carrying amount
At 31 January 2024
12,964
32,815
45,779
At 31 January 2023
9,530
37,962
47,492
ALTHAUS DIGITAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 9 -
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
170,811
76,421
Other debtors
9,193
23,467
Prepayments and accrued income
119,840
121,387
299,844
221,275
6
Creditors: amounts falling due within one year
2024
2023
£
£
Obligations under finance leases
-
0
574
Trade creditors
22,823
31,077
Corporation tax
42,632
47,050
Other taxation and social security
38,568
32,062
Other creditors
4,939
5,694
Accruals and deferred income
31,925
22,376
140,887
138,833

The aggregate of secured liabilities is £nil (2023: £nil)

 

Clydesdale Bank Plc, hold a fixed and floating charge over the property or undertaking of the company.

7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
A Ordinary shares of £1 each
900
900
900
900
B Ordinary shares of £1 each
1
1
1
1
C Ordinary shares of £1 each
1
1
1
1
D Ordinary shares of £1 each
1
1
1
1
E Ordinary shares of £1 each
1
1
1
1
F Ordinary shares of £1 each
1
1
1
1
G Ordinary shares of £1 each
1
1
1
1
H Ordinary shares of £1 each
1
1
1
1
I Ordinary shares of £1 each
1
1
1
1
1,008
1,008
1,008
1,008
ALTHAUS DIGITAL LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
- 10 -
8
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
2023
£
£
37,500
75,000
9
Related party transactions

During the year the company advanced monies to the parent company and was recharged expenses. £1,829 owed from the parent company was written off as an exceptional item (2023: £10,136). The amount owed from the parent company at the year end was £nil (2023: £nil).

10
Directors' transactions

During the year the directors were advanced £8,348 and repaid £18,397. Interest is charged at 2% on any individual balance over £10,000. The amount owed to the company at the year end is £4,760 (2023: £14,809)

11
Parent company

The ultimate controlling parent undertaking Althaus Group Limited by virtue of its majority shareholding of the issued ordinary share capital. The registered office is Charlotte House, Stanier Way, The Wyvern Business Park, Derby, DE21 6BF.

2024-01-312023-02-01false30 July 2024CCH SoftwareCCH Accounts Production 2024.100No description of principal activityMr J R StampMr M J LovelandMr P N BullerMr J StampMr D J WastieMr S L KenwardMrs A J Seabrightfalsefalse069416752023-02-012024-01-3106941675bus:Director12023-02-012024-01-3106941675bus:Director22023-02-012024-01-3106941675bus:Director32023-02-012024-01-3106941675bus:Director42023-02-012024-01-3106941675bus:Director52023-02-012024-01-3106941675bus:Director72023-02-012024-01-3106941675bus:Director62023-02-012024-01-3106941675bus:RegisteredOffice2023-02-012024-01-31069416752024-01-31069416752023-01-3106941675core:IntangibleAssetsOtherThanGoodwill2024-01-3106941675core:IntangibleAssetsOtherThanGoodwill2023-01-3106941675core:LandBuildings2024-01-3106941675core:OtherPropertyPlantEquipment2024-01-3106941675core:LandBuildings2023-01-3106941675core:OtherPropertyPlantEquipment2023-01-3106941675core:CurrentFinancialInstrumentscore:WithinOneYear2024-01-3106941675core:CurrentFinancialInstrumentscore:WithinOneYear2023-01-3106941675core:CurrentFinancialInstruments2024-01-3106941675core:CurrentFinancialInstruments2023-01-3106941675core:ShareCapital2024-01-3106941675core:ShareCapital2023-01-3106941675core:RetainedEarningsAccumulatedLosses2024-01-3106941675core:RetainedEarningsAccumulatedLosses2023-01-3106941675core:ShareCapitalOrdinaryShares2024-01-3106941675core:ShareCapitalOrdinaryShares2023-01-3106941675core:IntangibleAssetsOtherThanGoodwill2023-02-012024-01-3106941675core:ComputerSoftware2023-02-012024-01-3106941675core:LeaseholdImprovements2023-02-012024-01-3106941675core:PlantMachinery2023-02-012024-01-3106941675core:FurnitureFittings2023-02-012024-01-3106941675core:ComputerEquipment2023-02-012024-01-31069416752022-02-012023-01-3106941675core:IntangibleAssetsOtherThanGoodwill2023-01-3106941675core:LandBuildings2023-01-3106941675core:OtherPropertyPlantEquipment2023-01-31069416752023-01-3106941675core:LandBuildings2023-02-012024-01-3106941675core:OtherPropertyPlantEquipment2023-02-012024-01-3106941675bus:PrivateLimitedCompanyLtd2023-02-012024-01-3106941675bus:SmallCompaniesRegimeForAccounts2023-02-012024-01-3106941675bus:FRS1022023-02-012024-01-3106941675bus:AuditExemptWithAccountantsReport2023-02-012024-01-3106941675bus:FullAccounts2023-02-012024-01-31xbrli:purexbrli:sharesiso4217:GBP