ALUCOM LIMITED |
Notes to the Accounts |
for the year ended 30 November 2023 |
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1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
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Turnover |
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Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. |
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Tangible fixed assets |
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Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
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Leasehold land and buildings |
over the lease term |
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Plant and machinery |
15% per annum on net book value |
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Fixtures, fittings, tools and equipment |
15% per annum on net book value |
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Investments |
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Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account. |
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Debtors |
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Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
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Creditors |
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Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
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2 |
Employees |
2023 |
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2022 |
Number |
Number |
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Average number of persons employed by the company |
1 |
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1 |
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3 |
Tangible fixed assets |
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Land and buildings |
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Plant and machinery etc |
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Total |
£ |
£ |
£ |
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Cost |
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At 1 December 2022 |
375,491 |
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131,602 |
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507,093 |
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At 30 November 2023 |
375,491 |
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131,602 |
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507,093 |
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Depreciation |
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At 1 December 2022 |
- |
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127,327 |
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127,327 |
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Charge for the year |
- |
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900 |
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900 |
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At 30 November 2023 |
- |
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128,227 |
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128,227 |
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Net book value |
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At 30 November 2023 |
375,491 |
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3,375 |
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378,866 |
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At 30 November 2022 |
375,491 |
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4,275 |
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379,766 |
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4 |
Debtors |
2023 |
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2022 |
£ |
£ |
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Prepayments |
- |
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1,530 |
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5 |
Creditors: amounts falling due within one year |
2023 |
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2022 |
£ |
£ |
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Taxation and social security costs |
- |
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1,762 |
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Accruals |
1,970 |
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1,970 |
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Other creditors |
51,670 |
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51,671 |
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53,640 |
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55,403 |
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6 |
Controlling party |
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The ultimate controlling interest of the company is held by Mr Y L Chung, a director of the company . |
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7 |
Other information |
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ALUCOM LIMITED is a private company limited by shares and incorporated in England. Its registered office is: |
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Hamilton House |
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4A The Avenue |
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Highams Park |
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London |
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E4 9LD |