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Registration number: 02354521

Allsops C.T.F. Ltd.

Annual Report and Unaudited Financial Statements

for the Year Ended 30 April 2024

 

Allsops C.T.F. Ltd.

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Allsops C.T.F. Ltd.

Company Information

Directors

G Allsop

D S Garland

H G Allsop

Company secretary

G Allsop

Registered office

Unit 5 Silverdale
Meadow Road
Worthing
West Sussex
BN11 2RZ

Accountants

Chisnall Comer Ismail & Co
Chartered Accountants
Maria House
35 Millers Road
Brighton
BN1 5NP

 

Allsops C.T.F. Ltd.

(Registration number: 02354521)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

5,750

7,750

Tangible assets

5

140,752

163,618

 

146,502

171,368

Current assets

 

Stocks

6

281,997

307,516

Debtors

7

346,479

425,778

Cash at bank and in hand

 

989,624

911,750

 

1,618,100

1,645,044

Creditors: Amounts falling due within one year

8

(489,745)

(548,031)

Net current assets

 

1,128,355

1,097,013

Total assets less current liabilities

 

1,274,857

1,268,381

Provisions for liabilities

(16,423)

(23,383)

Net assets

 

1,258,434

1,244,998

Capital and reserves

 

Called up share capital

9

904

1,006

Capital redemption reserve

102

-

Retained earnings

1,257,428

1,243,992

Shareholders' funds

 

1,258,434

1,244,998

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

Allsops C.T.F. Ltd.

(Registration number: 02354521)
Balance Sheet as at 30 April 2024

Approved and authorised by the Board on 31 July 2024 and signed on its behalf by:



 

.........................................

G Allsop

Company secretary and director

 

Allsops C.T.F. Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 5 Silverdale
Meadow Road
Worthing
West Sussex
BN11 2RZ

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

 

Allsops C.T.F. Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Leasehold improvements

20% straight line

Motor vehicles

25% reducing balance

Plant and machinery

25% reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

 

Allsops C.T.F. Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 23 (2023 - 22).

 

Allsops C.T.F. Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 May 2023

262,089

262,089

At 30 April 2024

262,089

262,089

Amortisation

At 1 May 2023

254,339

254,339

Amortisation charge

2,000

2,000

At 30 April 2024

256,339

256,339

Carrying amount

At 30 April 2024

5,750

5,750

At 30 April 2023

7,750

7,750

5

Tangible assets

Land and buildings
£

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 May 2023

88,089

147,884

300,808

536,781

Additions

-

-

24,052

24,052

At 30 April 2024

88,089

147,884

324,860

560,833

Depreciation

At 1 May 2023

76,862

54,430

241,871

373,163

Charge for the year

2,807

23,364

20,747

46,918

At 30 April 2024

79,669

77,794

262,618

420,081

Carrying amount

At 30 April 2024

8,420

70,090

62,242

140,752

At 30 April 2023

11,227

93,454

58,937

163,618

Included within the net book value of land and buildings above is £8,420 (2023 - £11,227) in respect of short leasehold land and buildings.
 

 

Allsops C.T.F. Ltd.

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

6

Stocks

2024
£

2023
£

Other inventories

281,997

307,516

7

Debtors

Current

2024
£

2023
£

Trade debtors

336,172

413,407

Prepayments

207

2,271

Other debtors

10,100

10,100

 

346,479

425,778

8

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

299,401

383,598

Taxation and social security

160,009

143,367

Accruals and deferred income

16,740

6,817

Other creditors

13,595

14,249

489,745

548,031

9

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary A of £1 each

1,000

1,000

1,000

1,000

Ordinary B of £1 each

6

6

6

6

 

1,006

1,006

1,006

1,006