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Registration number: 12321694

Alternative Fuel Diagnostics Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 November 2023

 

Alternative Fuel Diagnostics Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Alternative Fuel Diagnostics Ltd

Company Information

Directors

Michael Charles Morris

Christopher Arthur Morris

Registered office

9 Jasmin Road
Epsom
Surrey
KT19 9DY

Accountants

RS Business Consulting Ltd
11 Approach Road
Raynes Park
London
SW20 8BA

 

Alternative Fuel Diagnostics Ltd

(Registration number: 12321694)
Balance Sheet as at 30 November 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

46,648

48,776

Current assets

 

Debtors

5

122,406

96,577

Cash at bank and in hand

 

87,586

87,144

 

209,992

183,721

Creditors: Amounts falling due within one year

6

(107,908)

(84,634)

Net current assets

 

102,084

99,087

Total assets less current liabilities

 

148,732

147,863

Creditors: Amounts falling due after more than one year

6

(64,714)

(56,466)

Net assets

 

84,018

91,397

Capital and reserves

 

Called up share capital

7

3

3

Retained earnings

84,015

91,394

Shareholders' funds

 

84,018

91,397

For the financial year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 11 July 2024 and signed on its behalf by:
 

 

Alternative Fuel Diagnostics Ltd

(Registration number: 12321694)
Balance Sheet as at 30 November 2023

.........................................
Michael Charles Morris
Director

.........................................
Christopher Arthur Morris
Director

 

Alternative Fuel Diagnostics Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

1

General information

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

The address of its registered office is:
9 Jasmin Road
Epsom
Surrey
KT19 9DY
United Kingdom

The principal place of business is:
9 Jasmin Road
Epsom
Surrey
KT19 9DY
United Kingdom

These financial statements were authorised for issue by the Board on 11 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.

 

Alternative Fuel Diagnostics Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

Tax

The tax expense for the period comprises current 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.

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:

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.

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

 

Alternative Fuel Diagnostics Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

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.

Leases

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.

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 directors) during the year, was 2 (2022 - 2).

 

Alternative Fuel Diagnostics Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

4

Tangible assets

Fixtures and fittings
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 December 2022

5,200

2,830

86,187

94,217

Additions

-

-

22,995

22,995

At 30 November 2023

5,200

2,830

109,182

117,212

Depreciation

At 1 December 2022

3,900

864

40,677

45,441

Charge for the year

1,300

839

22,984

25,123

At 30 November 2023

5,200

1,703

63,661

70,564

Carrying amount

At 30 November 2023

-

1,127

45,521

46,648

At 30 November 2022

1,300

1,966

45,510

48,776

5

Debtors

Current

2023
£

2022
£

Trade debtors

110,945

93,403

Prepayments

1,461

1,461

Other debtors

10,000

1,713

 

122,406

96,577

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

6,696

1,736

Taxation and social security

50,600

80,483

Accruals and deferred income

1,750

250

Other creditors

48,862

2,165

107,908

84,634

 

Alternative Fuel Diagnostics Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

64,714

56,466

7

Share capital

8

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

16,049

21,054

Hire purchase contracts

48,665

35,412

64,714

56,466

9

Dividends

Final dividends paid

   

2023
£

 

2022
£

Final dividend of £24,000.00 (2022 - £29,333.333) per each Ordinary Dividends

 

72,000

 

88,000

         

10

Related party transactions

 

Alternative Fuel Diagnostics Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

Directors' remuneration

The directors' remuneration for the year was as follows:

2023
£

2022
£

Remuneration

25,140

25,100

Contributions paid to money purchase schemes

40,000

-

65,140

25,100