IRIS Accounts Production v24.2.0.383 07999494 Board of Directors 1.1.23 31.12.23 31.12.23 6/8/2024 false true false false true false Auditors Opinion iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh079994942022-12-31079994942023-12-31079994942023-01-012023-12-31079994942021-12-31079994942022-01-012022-12-31079994942022-12-3107999494ns15:EnglandWales2023-01-012023-12-3107999494ns14:PoundSterling2023-01-012023-12-3107999494ns10:Director12023-01-012023-12-3107999494ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3107999494ns10:SmallEntities2023-01-012023-12-3107999494ns10:Audited2023-01-012023-12-3107999494ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3107999494ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3107999494ns10:FullAccounts2023-01-012023-12-3107999494ns10:Director32023-01-012023-12-3107999494ns10:RegisteredOffice2023-01-012023-12-3107999494ns5:CurrentFinancialInstruments2023-12-3107999494ns5:CurrentFinancialInstruments2022-12-3107999494ns5:ShareCapital2023-12-3107999494ns5:ShareCapital2022-12-3107999494ns5:RetainedEarningsAccumulatedLosses2023-12-3107999494ns5:RetainedEarningsAccumulatedLosses2022-12-3107999494ns5:PlantMachinery2022-12-3107999494ns5:PlantMachinery2023-01-012023-12-3107999494ns5:PlantMachinery2023-12-3107999494ns5:PlantMachinery2022-12-3107999494ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3107999494ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-3107999494ns5:WithinOneYear2023-12-3107999494ns5:WithinOneYear2022-12-3107999494ns5:BetweenOneFiveYears2023-12-3107999494ns5:BetweenOneFiveYears2022-12-3107999494ns5:MoreThanFiveYears2023-12-3107999494ns5:MoreThanFiveYears2022-12-3107999494ns5:AllPeriods2023-12-3107999494ns5:AllPeriods2022-12-31
REGISTERED NUMBER: 07999494 (England and Wales)















Financial Statements

for the Year Ended 31st December 2023

for

ALU-TEC (UK) LTD

ALU-TEC (UK) LTD (REGISTERED NUMBER: 07999494)

Contents of the Financial Statements
for the year ended 31st December 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


ALU-TEC (UK) LTD

Company Information
for the year ended 31st December 2023







DIRECTORS: Mr J P Bates
Mr S P Muskett





REGISTERED OFFICE: Monometer House
Rectory Grove
Leigh-on-Sea
Essex
SS9 2HL





REGISTERED NUMBER: 07999494 (England and Wales)





AUDITORS: Barrons Limited
Chartered Accountants
& Statutory Auditors
Monometer House
Rectory Grove
Leigh on Sea
Essex
SS9 2HN

ALU-TEC (UK) LTD (REGISTERED NUMBER: 07999494)

Balance Sheet
31st December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 115,441 111,133

CURRENT ASSETS
Stocks 607,742 616,048
Debtors 5 2,085,735 2,433,371
Cash at bank 509,273 359,567
3,202,750 3,408,986
CREDITORS
Amounts falling due within one year 6 958,809 1,433,398
NET CURRENT ASSETS 2,243,941 1,975,588
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,359,382

2,086,721

PROVISIONS FOR LIABILITIES 24,211 26,045
NET ASSETS 2,335,171 2,060,676

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 2,335,071 2,060,576
SHAREHOLDERS' FUNDS 2,335,171 2,060,676

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 6th August 2024 and were signed on its behalf by:





Mr S P Muskett - Director


ALU-TEC (UK) LTD (REGISTERED NUMBER: 07999494)

Notes to the Financial Statements
for the year ended 31st December 2023


1. STATUTORY INFORMATION

Alu-Tec (UK) Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
The turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on delivery 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 the rendering of services is recognised when the significant risks and rewards have been transferred to the buyer, this is when the services have been provided to the customer and recognised in accordance with the stage of completion of the contract.

Tangible fixed assets
Tangible fixed assets other than selected heritage fleet vehicles are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less residual value over their estimated useful lives, using either a straight line or reducing balance method, as indicated below.

Depreciation is provided on the following basis:

Plant and machinery etc- 15% Reducing Balance & 10% Straight Line


The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Stocks
Stocks are stated at the lower of cost and estimated selling price less cost to complete and sell. Cost is based on the cost of purchase on a first in, first out basis.

At each balance sheet date, stocks are assessed for impairment. If Stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit and loss.


ALU-TEC (UK) LTD (REGISTERED NUMBER: 07999494)

Notes to the Financial Statements - continued
for the year ended 31st December 2023


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Financial instruments
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit and loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an 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.

Debtors
Basic financial assets, including trade and other debtors, are initially recognised at transaction price, 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. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Creditors
Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, 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. Such instruments are subsequently carried at amortised cost using effective interest method, less any impairment.

ALU-TEC (UK) LTD (REGISTERED NUMBER: 07999494)

Notes to the Financial Statements - continued
for the year ended 31st December 2023


2. ACCOUNTING POLICIES - continued

Cash and cash equivalents
Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amount of cash with insignificant risk of change in value.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 41 (2022 - 32 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st January 2023 202,358
Additions 21,014
At 31st December 2023 223,372
DEPRECIATION
At 1st January 2023 91,225
Charge for year 16,706
At 31st December 2023 107,931
NET BOOK VALUE
At 31st December 2023 115,441
At 31st December 2022 111,133

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 633,063 1,274,989
Amounts owed by group undertakings 1,405,858 1,121,914
Other debtors 46,814 36,468
2,085,735 2,433,371

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 394,258 647,197
Amounts owed to group undertakings - 45,700
Taxation and social security 283,124 411,923
Other creditors 281,427 328,578
958,809 1,433,398

ALU-TEC (UK) LTD (REGISTERED NUMBER: 07999494)

Notes to the Financial Statements - continued
for the year ended 31st December 2023


7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 23,500 -
Between one and five years 94,000 -
In more than five years 62,667 -
180,167 -

8. SECURED DEBTS

Invoice discounting and overdraft facilities are secured by way of both fixed and floating charges over the assets of the company.

There is a cross guarantee in place between the company, its parent and all other group undertakings on all borrowings outstanding within the group at the balance sheet date.

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mark Radford FCCA (Senior Statutory Auditor)
for and on behalf of Barrons Limited

10. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

11. ULTIMATE PARENT COMPANY

Climatec Group Holdings Limited is the ultimate parent company for the current and preceding year due to its shareholding in the company. Climatec Group Holdings Limited prepares consolidated financial statements and these may be obtained from their registered office at Monometer House, Rectory Grove, Leigh on Sea, Essex, SS9 2HL.