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Registration number: 01255492

A L H Systems Limited

Filleted Financial Statements

for the Year Ended 31 December 2023

 

A L H Systems Limited

Contents

Balance Sheet

1

Notes to the Financial Statements

2 to 8

 

A L H Systems Limited

(Registration number: 01255492)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

226,223

316,367

Current assets

 

Stocks

5

1,509,567

1,606,728

Debtors

6

985,411

933,216

 

2,494,978

2,539,944

Creditors: Amounts falling due within one year

7

(1,764,464)

(1,718,703)

Net current assets

 

730,514

821,241

Total assets less current liabilities

 

956,737

1,137,608

Creditors: Amounts falling due after more than one year

7

(1,085)

(6,077)

Net assets excluding pension asset/(liability)

 

955,652

1,131,531

Net pension liability

(269,520)

(276,094)

Net assets

 

686,132

855,437

Capital and reserves

 

Called up share capital

1,000

1,000

Retained earnings

685,132

854,437

Shareholders' funds

 

686,132

855,437

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.

Approved and authorised by the Board on 3 July 2024 and signed on its behalf by:
 

.........................................
D M Pye
Director

 

A L H Systems Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

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:
1 Kingdom Avenue
Northacre Industrial Park
Westbury
Wiltshire
BA13 4WE
England

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.

Going concern

The financial statements have been prepared on a going concern basis.

Audit report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 4 July 2024 was Emily Ness FCA, who signed for and on behalf of UHY Ross Brooke.

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.

Revenue from the sales of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from development contracts is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rates prevailing on the initial transaction dates. Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

A L H Systems Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

Tax

The tax expense for the period comprises current tax payable.

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.

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

Over the period of the lease

Plant and machinery

Straight line over 5 years

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

A L H Systems Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

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.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 28 (2022 - 38).

 

A L H Systems Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

4

Tangible assets

Short leasehold land and buildings
£

Plant and machinery
£

Total
£

Cost or valuation

At 1 January 2023

156,588

1,184,486

1,341,074

Additions

-

20,311

20,311

At 31 December 2023

156,588

1,204,797

1,361,385

Depreciation

At 1 January 2023

43,066

981,641

1,024,707

Charge for the year

36,191

74,264

110,455

At 31 December 2023

79,257

1,055,905

1,135,162

Carrying amount

At 31 December 2023

77,331

148,892

226,223

At 31 December 2022

113,522

202,845

316,367

Included within the net book value of land and buildings above is £77,331 (2022 - £113,522) in respect of short leasehold land and buildings.
 

5

Stocks

2023
£

2022
£

Other inventories

1,509,567

1,606,728

 

A L H Systems Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

6

Debtors

Current

Note

2023
£

2022
£

Trade debtors

 

757,844

517,977

Amounts owed by related parties

-

30,209

Prepayments

 

113,082

90,155

Other debtors

 

114,485

294,875

   

985,411

933,216

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Loans and borrowings

1,219,684

1,214,026

Trade creditors

338,261

299,176

Amounts owed to group undertakings and undertakings in which the company has a participating interest

60,213

66,217

Taxation and social security

34,992

14,179

Other creditors

111,314

125,105

1,764,464

1,718,703

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

10

1,085

6,077

 

A L H Systems Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

8

Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

2023
£

2022
£

Not later than one year

171,600

171,600

Later than one year and not later than five years

686,400

686,400

Later than five years

729,300

900,900

1,587,300

1,758,900

The amount of non-cancellable operating lease payments recognised as an expense during the year was £171,600 (2022 - £171,600).

9

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the current year were as follows:

Retained earnings
£

Total
£

Remeasurement gain/loss on defined benefit pension schemes

(14,000)

(14,000)

The changes to each component of equity resulting from items of other comprehensive income for the prior year were as follows:

Retained earnings
£

Total
£

Remeasurement gain/loss on defined benefit pension schemes

(6,926)

(6,926)

 

A L H Systems Limited

Notes to the Financial Statements for the Year Ended 31 December 2023

10

Loans and borrowings

2023
£

2022
£

Current loans and borrowings

Bank overdrafts

1,215,126

1,209,468

Hire purchase contracts

4,558

4,558

1,219,684

1,214,026

2023
£

2022
£

Non-current loans and borrowings

Hire purchase contracts

1,085

6,077

11

Parent and ultimate parent undertaking

The company's immediate parent is Indutrade UK Limited, incorporated in United Kingdom.

 The ultimate parent is Indutrade AB, incorporated in Sweden.

 The most senior parent entity producing publicly available financial statements is Indutrade AB. These financial statements are available upon request from Indutrade AB, Box6044, SE-164 06 Kista, Sweden.