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Company registration number: 7109049







FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 OCTOBER 2023


ALLT POWER LIMITED






































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ALLT POWER LIMITED
 


 
COMPANY INFORMATION


Directors
J Lilley 
D Lilley 
C Lilley 




Registered number
7109049



Registered office
Amersham Court
154 Station Road

Amersham

Buckinghamshire

HP6 5DW




Independent auditor
Menzies LLP
Chartered Accountants & Statutory Auditor

Lynton House

7-12 Tavistock Square

London

WC1H 9LT





 


ALLT POWER LIMITED
 



CONTENTS



Page
Statement of Financial Position
1
Notes to the Financial Statements
2 - 8


 


ALLT POWER LIMITED
REGISTERED NUMBER:7109049



STATEMENT OF FINANCIAL POSITION
AS AT 31 OCTOBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible fixed assets
 4 
1,987,918
1,906,811

  
1,987,918
1,906,811

Current assets
  

Debtors: amounts falling due within one year
 5 
176,234
149,734

Bank current accounts
  
43,807
14,795

  
220,041
164,529

Creditors: amounts falling due within one year
 6 
(2,214,863)
(2,230,211)

Net current liabilities
  
 
 
(1,994,822)
 
 
(2,065,682)

Total assets less current liabilities
  
(6,904)
(158,871)

Creditors: amounts falling due after more than one year
 7 
(17,915)
(22,638)

  

Net liabilities
  
(24,819)
(181,509)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(24,919)
(181,609)

  
(24,819)
(181,509)


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




C Lilley
Director

Date: 26 July 2024

The notes on pages 2 to 8 form part of these financial statements.

Page 1

 


ALLT POWER LIMITED
 


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

1.


General information

ALLT Power Limited is a private company limited by shares incorporated in England and Wales. The address of the principal place of business is Amersham Court, 154 Station Road, Amersham, Buckinghamshire, HP6 5DW.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

These financial statements have been prepared on a going concern basis as the company is generating income from the hydro-electric turbine installations. The company realised a net profit of £156,690 (2022 - net loss of £133,819) during the year ended 31 October 2023 and, at that date, the company had net current liabilities of £1,994,822 (2022 - £2,065,682). Included in current liabilities are £1,114,557 (2022 - £1,206,217) owed to its parent company Exagris Limited and £960,764 (2022 - £962,101) owed to Mr D Lilley, a controlling party of Exagris Limited, which are repayable on demand. The Directors do not have any reason to believe that these liabilities will be required to be repaid until the company is in a position to do so and it continues to make repayments on the parent company liability as cash flow allows. It is anticipated these liabilities will not be required to be repaid within 12 months from the date of signing these accounts, as the Directors have received written assurance from the creditors that they have no intention to call on these amounts.

Page 2

 


ALLT POWER LIMITED
 


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

2.Accounting policies (continued)

 
2.3

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

The Company’s main revenue stream is from electricity generated by the hydro-electric turbine installations.
Other operating income derives from the activity of property investment, being rental charges recoverable from tenants.

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 3

 


ALLT POWER LIMITED
 


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

2.Accounting policies (continued)


2.4
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using either the straight line or reducing balance method from the date they are brought into use.

Depreciation is provided on the following basis:

Land & Building Improvements
-
25% straight line
Plant and machinery - other
-
25% reducing balance
Plant and machinery - Hydro
-
20/40/50 years straight line
Motor vehicles
-
25% reducing balance
Fixtures and fittings
-
25% straight line
Equipment
-
25% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

  
2.5

Impairment of fixed assets and goodwill

Assets that are subject to depreciation or amortisation are assessed at each reporting date to determine whether there is any indication that the assets are impaired. Where there is any indication that an asset may be impaired, the carrying value of the asset (or cash-generating unit to which the asset has been allocated) is tested for impairment. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's (or CGU's) fair value less costs to sell and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (CGUs). Non-financial assets that have been previously impaired are reviewed at each reporting date to assess whether there is any indication that the impairment losses recognised in prior periods may no longer exist or may have decreased.

 
2.6

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

Page 4

 


ALLT POWER LIMITED
 


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

2.Accounting policies (continued)

 
2.7

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2022 - 1).

Page 5

 


ALLT POWER LIMITED
 


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

4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Total

£
£
£



Cost or valuation


At 1 November 2022
2,305,838
34,890
2,340,728


Additions
146,297
-
146,297


Disposals
(4,267)
-
(4,267)



At 31 October 2023

2,447,868
34,890
2,482,758



Depreciation


At 1 November 2022
428,829
5,088
433,917


Charge for the year on owned assets
57,740
7,450
65,190


Disposals
(4,267)
-
(4,267)



At 31 October 2023

482,302
12,538
494,840



Net book value



At 31 October 2023
1,965,566
22,352
1,987,918



At 31 October 2022
1,877,009
29,802
1,906,811




5.


Debtors

2023
2022
£
£


Trade debtors
75,323
61,859

Other debtors
16,862
5,919

Prepayments and accrued income
84,049
81,956

176,234
149,734


Page 6

 


ALLT POWER LIMITED
 


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

6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
94,851
22,502

Amounts owed to group undertakings
1,114,557
1,206,217

Other taxation and social security
-
2,876

Obligations under finance lease and hire purchase contracts
4,723
4,305

Other creditors
963,549
962,101

Accruals and deferred income
37,183
32,210

2,214,863
2,230,211



7.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Obligations under finance leases and hire purchase contracts
17,915
22,638

17,915
22,638



8.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2023
2022
£
£


Within one year
4,723
4,305

Between 1-5 years
5,142
4,723

Over 5 years
12,773
17,915

22,638
26,943

Obligations under finance leases and hire purchase contracts are secured against the assets to which they relate.

Page 7

 


ALLT POWER LIMITED
 


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

9.


Commitments under operating leases

At 31 October 2023 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2023
2022
£
£

Land and buildings


Not later than 1 year
38,675
38,675

Later than 1 year and not later than 5 years
66,070
104,745

104,745
143,420

From February 2023 onwards, a sub lease is in place for the building lease disclosed above. 


10.


Related party transactions

The company has taken advantage of the exemption provided by FRS 102 1A not to disclose related party transactions entered into between two or more members of a group, provided that any subsidiary which is a party to the transaction is wholly owned by such a member. 


11.


Controlling party

The parent company is Exagris Limited, a company incorporated in England & Wales. 
The results of the company are included in Exagris Limited consolidated financial statements, and this is the largest and smallest group for which group accounts are drawn up. The registered office of Exagris Limited is Amersham Court, 154 Station Road, Amersham, Buckinghamshire, United Kingdom, HP6 5DW.


12.


Auditor's information

The auditor's report on the financial statements for the year ended 31 October 2023 was unqualified.

The audit report was signed on 30 July 2024 by Andrew Wooding FCA (Senior Statutory Auditor) on behalf of Menzies LLP.

Page 8