Company registration number 12286611 (England and Wales)
ALTHAUS GROUP LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
PAGES FOR FILING WITH REGISTRAR
ALTHAUS GROUP LIMITED
CONTENTS
Page
Accountants' report
1
Statement of financial position
2 - 3
Notes to the financial statements
4 - 7
ALTHAUS GROUP LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF ALTHAUS GROUP LIMITED FOR THE YEAR ENDED 31 JANUARY 2024
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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 Group 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 Group 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 Group Limited and state those matters that we have agreed to state to the board of directors of Althaus Group 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 Group Limited and its board of directors as a body, for our work or for this report.
It is your duty to ensure that Althaus Group 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 loss of Althaus Group Limited. You consider that Althaus Group 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 Group 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 GROUP LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
31 JANUARY 2024
31 January 2024
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2024
2023
Notes
£
£
£
£
Fixed assets
Investments
4
901
901
Current assets
Debtors
5
16,739
16,739
Cash at bank and in hand
4,093
16,739
20,832
Creditors: amounts falling due within one year
6
(15,927)
(10,187)
Net current assets
812
10,645
Total assets less current liabilities
1,713
11,546
Creditors: amounts falling due after more than one year
7
(35,603)
(42,700)
Net liabilities
(33,890)
(31,154)
Capital and reserves
Called up share capital
8
101
100
Share premium account
400,990
400,990
Profit and loss reserves
(434,981)
(432,244)
Total equity
(33,890)
(31,154)
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 GROUP LIMITED
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT
31 JANUARY 2024
31 January 2024
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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 12286611 (England and Wales)
ALTHAUS GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
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1
Accounting policies
Company information
Althaus Group 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. The principal place of business is Commerce House, 2 Victoria Way, Pride Park, Derby, DE24 8AN.
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.
The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.
1.2
Going concern
The directors have assessed the balance sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the company has adequate resources provided by support from the subsidiary company and it's shareholders to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statement. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
1.3
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.
Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.
1.4
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.
ALTHAUS GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
1
Accounting policies
(Continued)
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1.5
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.
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.
1.6
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.
1.7
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.
ALTHAUS GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
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2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated 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 is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
4
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
901
901
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
16,739
16,739
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
6,675
6,254
Trade creditors
6,521
862
Corporation tax
410
Accruals and deferred income
2,731
2,661
15,927
10,187
ALTHAUS GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2024
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7
Creditors: amounts falling due after more than one year
2024
2023
Notes
£
£
Bank loans and overdrafts
35,603
42,700
Included within bank loans is £42,278 (2023: £48,954) which is 100% guaranteed by the government under the terms of the loan.
Amounts included above which fall due after five years are as follows:
Payable by instalments
8,901
17,685
8
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A of 10p each
624
574
62
57
Ordinary B of 10p each
316
316
32
32
Ordinary C of 10p each
65
115
7
11
1,005
1,005
101
100
During the year 50 Ordinary C shares were re-classified as 50 Ordinary A shares.
9
Related party transactions
During the year the subsidiary company introduced monies into the company and the company incurred expenses on behalf of the subsidiary. £1,829 owed to the subsidiary (2023: £10,136) was written off at the year end and is shown as an exceptional item in note 3. The amount owed to the subsidiary at the year end was £nil (2023: £nil).
10
Directors' transactions
During the year end the directors repaid £5 (2023: £NIL) and advances made to the directors of £5 (2023: £1,214). At the year end there was a balance included in other debtors owed to the company of £5,564 (2023: £5,564). Interest of 2% and 2.25% is charged on individual overdrawn balances over £10,000.