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REGISTERED NUMBER: 01660050 (England and Wales)









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: N Colwill
J Colwill
S A Hodgetts
R J Westlake
G D Williams
E R Williams





SECRETARY: S L Trewin





REGISTERED OFFICE: Alder Farm
Lewdown
Nr Okehampton
Devon
EX20 4PJ





REGISTERED NUMBER: 01660050 (England and Wales)





ACCOUNTANTS: Haines Watts
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 32,439 45,070
Investments 6 119 119
32,558 45,189

CURRENT ASSETS
Stocks 2,325,968 2,107,722
Debtors 7 491,873 1,189,738
Cash at bank and in hand 25,854 133,405
2,843,695 3,430,865
CREDITORS
Amounts falling due within one year 8 (232,157 ) (639,481 )
NET CURRENT ASSETS 2,611,538 2,791,384
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,644,096

2,836,573

CREDITORS
Amounts falling due after more than one
year

9

(158,610

)

(239,237

)

PROVISIONS FOR LIABILITIES (3,851 ) (4,248 )
NET ASSETS 2,481,635 2,593,088

CAPITAL AND RESERVES
Called up share capital 85,450 85,450
Share premium 16,356 16,356
Retained earnings 2,379,829 2,491,282
2,481,635 2,593,088

ALDER SPORTSWEAR LIMITED (REGISTERED NUMBER: 01660050)

Balance Sheet - continued
31 DECEMBER 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 August 2024 and were signed on its behalf by:





G D Williams - Director


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

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - 25% on reducing balance
Plant and machinery - 25% on reducing balance
Motor vehicles - 33% on reducing balance

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 8 (2022 - 10 ) .

5. TANGIBLE FIXED ASSETS
Short Plant and Motor
leasehold machinery vehicles Totals
£    £    £    £   
COST
At 1 January 2023
and 31 December 2023 159,415 208,695 71,727 439,837
DEPRECIATION
At 1 January 2023 136,701 202,712 55,354 394,767
Charge for year 5,678 1,496 5,457 12,631
At 31 December 2023 142,379 204,208 60,811 407,398
NET BOOK VALUE
At 31 December 2023 17,036 4,487 10,916 32,439
At 31 December 2022 22,714 5,983 16,373 45,070

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 119
NET BOOK VALUE
At 31 December 2023 119
At 31 December 2022 119

7. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 273,181 524,617
Amounts owed by group undertakings 50,000 50,000
Other debtors 8,851 500
Tax 11,158 -
Prepayments 118,002 583,940
461,192 1,159,057

Amounts falling due after more than one year:
Amounts owed by group undertakings 30,681 30,681

Aggregate amounts 491,873 1,189,738

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 164,752 323,196
Trade creditors 24,816 89,603
Tax - 106,481
Social security and other taxes 13,541 17,441
VAT 23,882 43,921
Other creditors - 54,953
Accrued expenses 5,166 3,886
232,157 639,481

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 80,000 80,000
Bank loans - 2-5 years 26,667 106,667
Amounts owed to group undertakings 51,943 52,570
158,610 239,237

10. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 20,000 20,000
Between one and five years 65,000 80,000
In more than five years - 5,000
85,000 105,000

11. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdrafts 84,752 243,196

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.