REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 December 2023 |
for |
ALDER SPORTSWEAR LIMITED |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31 December 2023 |
for |
ALDER SPORTSWEAR LIMITED |
ALDER SPORTSWEAR LIMITED (REGISTERED NUMBER: 01660050) |
Contents of the Financial Statements |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
ALDER SPORTSWEAR LIMITED |
Company Information |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
3 Southernhay West |
Exeter |
Devon |
EX1 1JG |
ALDER SPORTSWEAR LIMITED (REGISTERED NUMBER: 01660050) |
Balance Sheet |
31 DECEMBER 2023 |
2023 | 2022 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
Investments | 6 |
CURRENT ASSETS |
Stocks |
Debtors | 7 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 8 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
9 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Share premium |
Retained earnings |
ALDER SPORTSWEAR LIMITED (REGISTERED NUMBER: 01660050) |
Balance Sheet - continued |
31 DECEMBER 2023 |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
ALDER SPORTSWEAR LIMITED (REGISTERED NUMBER: 01660050) |
Notes to the Financial Statements |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
1. | STATUTORY INFORMATION |
Alder Sportswear Limited 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. |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Related party exemption |
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. |
Turnover |
Turnover represents amounts chargeable in respect of the sale of goods to customers falling within the company's ordinary activities. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company. |
Tangible fixed assets |
Short leasehold | - |
Plant and machinery | - |
Motor vehicles | - |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Financial instruments |
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contact that evidences a residual interest in the assets of the company after deducting all of its liabilities |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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. |
ALDER SPORTSWEAR LIMITED (REGISTERED NUMBER: 01660050) |
Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
3. | ACCOUNTING POLICIES - continued |
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. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme for staff and 4 directors. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
5. | TANGIBLE FIXED ASSETS |
Short | Plant and | Motor |
leasehold | machinery | vehicles | Totals |
£ | £ | £ | £ |
COST |
At 1 January 2023 |
and 31 December 2023 |
DEPRECIATION |
At 1 January 2023 |
Charge for year |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
ALDER SPORTSWEAR LIMITED (REGISTERED NUMBER: 01660050) |
Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
6. | FIXED ASSET INVESTMENTS |
Other |
investments |
£ |
COST |
At 1 January 2023 |
and 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
7. | DEBTORS |
2023 | 2022 |
£ | £ |
Amounts falling due within one year: |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
Tax | 11,158 | - |
Prepayments |
Amounts falling due after more than one year: |
Amounts owed by group undertakings |
Aggregate amounts |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Tax |
Social security and other taxes |
VAT | 23,882 | 43,921 |
Other creditors |
Accrued expenses |
ALDER SPORTSWEAR LIMITED (REGISTERED NUMBER: 01660050) |
Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans - 1-2 years |
Bank loans - 2-5 years |
Amounts owed to group undertakings |
10. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2023 | 2022 |
£ | £ |
Within one year |
Between one and five years |
In more than five years |
11. | SECURED DEBTS |
The following secured debts are included within creditors: |
2023 | 2022 |
£ | £ |
Bank overdrafts |
There is a fixed and floating charge with both National Westminster Bank and Royal Bank of Scotland dated 23 February 2006 and 15 February 2006 respectively over all the property and undertakings of the company. |
12. | RELATED PARTY DISCLOSURES |
A company in which it owns 50% of the 'A' share capital and 70% of the 'B' share capital. |
During the period under review the company sold goods to the related party amounting to £88,468 (2022 - £131,781). At the balance sheet date the outstanding amount due from the related party and included within trade debtors due within one year amounted to £2,544 (2022 - £16,495). |
Included within debtors, amounts falling due after more than one year, is a loan in favour of the company. The loan outstanding at the balance sheet date amounted to £30,681 (2022 - £30,681). |
The loan is interest free and repayable on one year's notice being given by the company or sooner at the related party's discretion. |
The company received a dividend during the period under review amounting to £2,000 (2022 - £6,000). |
ALDER SPORTSWEAR LIMITED (REGISTERED NUMBER: 01660050) |
Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
13. | ULTIMATE CONTROLLING PARTY |
The company is controlled by Alder Sportswear (Holdings) Limited, a company registered in England and Wales. The registered office and principal place of business is: |
Alder Farm |
Lewdown |
Okehampton |
Devon |
EX20 4PJ |
Group accounts are not prepared by Alder Sportswear (Holdings) Limited. |