Company No:
Contents
DIRECTORS | Mr A Turner |
Mr B Turner | |
Mrs G Turner | |
Mrs S Turner |
SECRETARY | Mr A Turner |
REGISTERED OFFICE | No 3 Greenways Business Park |
Chippenham | |
SN15 1BN | |
United Kingdom |
COMPANY NUMBER | 08981830 (England and Wales) |
CHARTERED ACCOUNTANTS | Francis Clark LLP |
Centenary House | |
Peninsula Park | |
Rydon Lane | |
Exeter | |
Devon EX2 7XE |
Note | 2023 | 2022 | ||
£ | £ | |||
Fixed assets | ||||
Intangible assets | 3 |
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Investments | 4 |
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1,003,604 | 1,085,146 | |||
Current assets | ||||
Stocks |
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Debtors | 5 |
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Cash at bank and in hand |
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551,743 | 259,406 | |||
Creditors: amounts falling due within one year | 6 | (
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Net current assets/(liabilities) | 291,351 | (136,638) | ||
Total assets less current liabilities | 1,294,955 | 948,508 | ||
Net assets |
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Capital and reserves | ||||
Called-up share capital | 7 |
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Profit and loss account |
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Total shareholders' funds |
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Directors' responsibilities:
The financial statements of Allington IP Limited (registered number:
Mr A Turner
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Allington IP Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is No 3 Greenways Business Park, Chippenham, SN15 1BN, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.
Group accounts exemption s399
The Company has taken advantage of the exemption in section 399 of the Companies Act 2006 not to prepare consolidated accounts, because the group it heads qualifies as small. The financial statements present information about the Company as an individual entity only.
Dividends on equity investments are recognised in income when receivable.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Trademarks, patents and licences |
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Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.
Investments in joint ventures are carried at cost less impairment. An entity is treated as a joint venture where the company is party to a contractual agreement with one or more other parties to undertake an economic activity that is subject to joint control.
Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.
Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.
Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.
Other basic financial liabilities are measured at amortised cost.
2023 | 2022 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including directors |
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Trademarks, patents and licences |
Total | ||
£ | £ | ||
Cost | |||
At 01 January 2023 |
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Additions |
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Disposals | (
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At 31 December 2023 |
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Accumulated amortisation | |||
At 01 January 2023 |
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Charge for the financial year |
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Disposals | (
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At 31 December 2023 |
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Net book value | |||
At 31 December 2023 |
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At 31 December 2022 |
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2023 | 2022 | ||
£ | £ | ||
Subsidiary undertakings |
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Participating interests |
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1,098 | 1,098 |
Investments in subsidiaries
2023 | |
£ | |
Cost | |
At 01 January 2023 |
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At 31 December 2023 |
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Carrying value at 31 December 2023 |
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Carrying value at 31 December 2022 |
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The company holds the entire called up share capital of V12 Footwear Limited (company number: 09126148), A.T.F.P Limited (07243437), B.T.F.P Limited (07243443). The relevant address is the company's registered office as disclosed in Note 1.
Investments in joint ventures | Total | ||
£ | £ | ||
Cost or valuation before impairment | |||
At 01 January 2023 |
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At 31 December 2023 |
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Carrying value at 31 December 2023 |
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Carrying value at 31 December 2022 |
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The company holds 998 Ordinary B shares of the 2,000 issued shares in Toffeln Ltd (company number 07564620) whose registered address is Unit 2 Bridge Road, Kingswood, Bristol, BS15 4FW.
2023 | 2022 | ||
£ | £ | ||
Amounts owed by Group undertakings |
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Other debtors |
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2023 | 2022 | ||
£ | £ | ||
Trade creditors |
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Amounts owed to joint ventures |
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Taxation and social security |
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Other creditors |
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2023 | 2022 | ||
£ | £ | ||
Allotted, called-up and fully-paid | |||
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2,500 | 2,500 |
Summary of transactions with all subsidiaries
During the current and prior year a loan account existed between V12 Footwear Limited and Allington IP Limited. No interest was charged on this loan. The balance is repayable on demand. The amount due to the parent company at the year end was £401,618 (2022: £142,282).
During the year income of £82,000 (2022: £82,000) was received from Toffeln Ltd.
During the year income of £115,800 (2022: £123,000) was received from V12 Footwear Limited.
During the year royalties of £245,601 (2022: £204,312) were charged to V12 Footwear Limited.