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Registration number: 09777505

T. ALEXANDER LTD

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

T. ALEXANDER LTD

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 11

 

T. ALEXANDER LTD

Company Information

Director

Mr Thomas Alexander Butler

Registered office

Accelerate Cars & Commercials
North Farm Road
Tunbridge Wells
Kent
TN2 3DR

Accountants

DF Accountants Limited
23 Hansom Way,
Pease Pottage
Crawley
West Sussex
RH119GQ

 

T. ALEXANDER LTD

(Registration number: 09777505)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

511,238

474,560

Current assets

 

Stocks

5

493,744

337,960

Debtors

6

187,937

223,306

Cash at bank and in hand

 

-

25,371

 

681,681

586,637

Creditors: Amounts falling due within one year

7

(292,923)

(434,302)

Net current assets

 

388,758

152,335

Total assets less current liabilities

 

899,996

626,895

Creditors: Amounts falling due after more than one year

7

(372,909)

(296,000)

Provisions for liabilities

(14,010)

(7,048)

Net assets

 

513,077

323,847

Capital and reserves

 

Called up share capital

8

1

1

Retained earnings

513,076

323,846

Shareholders' funds

 

513,077

323,847

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 3 July 2024
 

 

T. ALEXANDER LTD

(Registration number: 09777505)
Balance Sheet as at 31 March 2024

.........................................
Mr Thomas Alexander Butler
Director

 

T. ALEXANDER LTD

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in United kingdom.

The address of its registered office is:
Accelerate Cars & Commercials
North Farm Road
Tunbridge Wells
Kent
TN2 3DR
England

These financial statements were authorised for issue by the director on 3 July 2024.

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.

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.

 

T. ALEXANDER LTD

Notes to the Unaudited Financial Statements for the Year Ended 31 March 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

Freehold building

over 50 years

Leasehold land and buildings

over the lease term

Plant and machinery

over 5 years

Vehicles

over 5 years

Furniture and fittings

over 5 years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

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

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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.

 

T. ALEXANDER LTD

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

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.

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 the director) during the year, was 2 (2023 - 2).

 

T. ALEXANDER LTD

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Motor vehicles
 £

Cost or valuation

At 1 April 2023

437,500

1,399

41,308

4,950

Additions

-

307

1,792

61,820

Disposals

-

-

(7,035)

-

At 31 March 2024

437,500

1,706

36,065

66,770

Depreciation

At 1 April 2023

-

316

9,291

990

Charge for the year

-

341

7,279

14,344

Eliminated on disposal

-

-

(1,758)

-

At 31 March 2024

-

657

14,812

15,334

Carrying amount

At 31 March 2024

437,500

1,049

21,253

51,436

At 31 March 2023

437,500

1,083

32,017

3,960

Total
£

Cost or valuation

At 1 April 2023

485,157

Additions

63,919

Disposals

(7,035)

At 31 March 2024

542,041

Depreciation

At 1 April 2023

10,597

Charge for the year

21,964

Eliminated on disposal

(1,758)

At 31 March 2024

30,803

Carrying amount

At 31 March 2024

511,238

At 31 March 2023

474,560

Included within the net book value of land and buildings above is £437,500 (2023 - £437,500) in respect of freehold land and buildings.
 

 

T. ALEXANDER LTD

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

5

Stocks

2024
£

2023
£

Other inventories

493,744

337,960

6

Debtors

Current

2024
£

2023
£

Trade debtors

75,438

63,638

Other debtors

112,499

159,668

 

187,937

223,306

 

T. ALEXANDER LTD

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

43,362

48,538

Trade creditors

 

49,054

221,102

Taxation and social security

 

195,133

150,075

Accruals and deferred income

 

-

695

Other creditors

 

5,374

13,892

 

292,923

434,302

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

229,914

296,000

Other non-current financial liabilities

 

142,995

-

 

372,909

296,000

8

Share capital

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

229,914

296,000

Current loans and borrowings

2024
£

2023
£

Bank overdrafts

22,698

48,538

Other borrowings

20,664

-

43,362

48,538

10

Dividends

Final dividends paid

 

T. ALEXANDER LTD

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

2024
£

2023
£

Final dividend of £Nil per each Ordinary Dividend

102,043

29,000

Final dividend of Nil per each NewRow_1

-

-

102,043

29,000

11

Related party transactions

 

T. ALEXANDER LTD

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Director's remuneration

The director's remuneration for the year was as follows:

2024
£

2023
£

Remuneration

24,000

24,000

Contributions paid to money purchase schemes

2,254

2,219

26,254

26,219

12

Provisions for liabilities

Deferred tax
£

Total
£

At 1 April 2023

7,048

7,048

Additional provisions

6,962

6,962

At 31 March 2024

14,010

14,010