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Company No: 03834616 (England and Wales)

ALRO SERVICES LTD

Unaudited Financial Statements
For the financial year ended 31 May 2024
Pages for filing with the registrar

ALRO SERVICES LTD

Unaudited Financial Statements

For the financial year ended 31 May 2024

Contents

ALRO SERVICES LTD

COMPANY INFORMATION

For the financial year ended 31 May 2024
ALRO SERVICES LTD

COMPANY INFORMATION (continued)

For the financial year ended 31 May 2024
DIRECTOR Mr F J Read
REGISTERED OFFICE Centenary House Peninsula Park
Rydon Lane
Exeter
EX2 7XE
United Kingdom
BUSINESS ADDRESS Unit 13 Hameldown Road
Exeter Road Industrial Estate
Okehampton
EX20 1UB
United Kingdom
COMPANY NUMBER 03834616 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Centenary House
Peninsula Park
Rydon Lane
Exeter
Devon EX2 7XE
ALRO SERVICES LTD

BALANCE SHEET

As at 31 May 2024
ALRO SERVICES LTD

BALANCE SHEET (continued)

As at 31 May 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 16,319 21,874
16,319 21,874
Current assets
Stocks 75,061 90,611
Debtors 4 178,788 135,377
Cash at bank and in hand 80,283 108,931
334,132 334,919
Creditors: amounts falling due within one year 5 ( 116,185) ( 123,624)
Net current assets 217,947 211,295
Total assets less current liabilities 234,266 233,169
Provision for liabilities ( 3,900) ( 5,300)
Net assets 230,366 227,869
Capital and reserves
Called-up share capital 6 2 2
Profit and loss account 230,364 227,867
Total shareholder's funds 230,366 227,869

For the financial year ending 31 May 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Alro Services Ltd (registered number: 03834616) were approved and authorised for issue by the Director on 04 September 2024. They were signed on its behalf by:

Mr F J Read
Director
ALRO SERVICES LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 2024
ALRO SERVICES LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 2024
1. Accounting policies

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.

General information and basis of accounting

Alro Services Ltd (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 Centenary House Peninsula Park, Rydon Lane, Exeter, EX2 7XE, United Kingdom. The principal place of business is Unit 13 Hameldown Road, Exeter Road Industrial Estate, Okehampton, EX20 1UB, 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 £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.
Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.
Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable.
Where a contract has only been partially completed at the Balance sheet date turnover represents the fair value of the service provided to based on the stage of completion of the contract activity at the Balance Sheet date.
Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
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.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or a reducing balance basis over its expected useful life, as follows:

Plant and machinery 10 % reducing balance
Vehicles 25 % reducing balance
Fixtures and fittings 10 % reducing balance
Office equipment 10 % reducing balance
Computer equipment 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

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.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 7 7

3. Tangible assets

Plant and machinery Vehicles Fixtures and fittings Office equipment Computer equipment Total
£ £ £ £ £ £
Cost
At 01 June 2023 4,350 84,135 9,781 12,541 10,668 121,475
Additions 1,189 0 0 1,171 0 2,360
Disposals 0 ( 62,879) 0 ( 2,481) ( 3,100) ( 68,460)
At 31 May 2024 5,539 21,256 9,781 11,231 7,568 55,375
Accumulated depreciation
At 01 June 2023 3,103 75,443 5,816 7,015 8,224 99,601
Charge for the financial year 144 1,233 398 605 105 2,485
Disposals 0 ( 58,257) 0 ( 1,673) ( 3,100) ( 63,030)
At 31 May 2024 3,247 18,419 6,214 5,947 5,229 39,056
Net book value
At 31 May 2024 2,292 2,837 3,567 5,284 2,339 16,319
At 31 May 2023 1,247 8,692 3,965 5,526 2,444 21,874

4. Debtors

2024 2023
£ £
Trade debtors 161,036 127,011
Prepayments and accrued income 17,752 8,007
Other debtors 0 359
178,788 135,377

5. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 19,910 40,730
Amounts owed to Group undertakings 23,443 10,459
Accruals 7,304 5,522
Corporation tax 21,800 18,400
Other taxation and social security 41,100 45,825
Other creditors 2,628 2,688
116,185 123,624

6. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
2 Ordinary share capital shares of £ 1.00 each 2 2

7. Financial commitments

Commitments

2024 2023
£ £
Total future minimum lease payments under non-cancellable operating lease 107,855 42,729

The company is committed to 5 operating leases for vehicles at 31 May 2024. The remaining term for the operating leases range between 33 and 40 months

8. Related party transactions

Other related party transactions

2024 2023
£ £
Loan owed to Finn Environmental Holdings Ltd - 100% owner 23,443 10,459

The loan is repayable on demand and no interest has been charged on the loan to Finn Environmental Holdings Ltd.

9. Ultimate controlling party

Parent Company:

Finn Environmental Holdings Limited
Centenary House
Peninsula Park
Rydon Lane
Exeter
EX2 7XE
England

Finn Environmental Holdings Limited is a 100% shareholder in the Company.

Mr F J Read, the sole director of the company, is a 100% shareholder in Finn Environmental Holdings Limited.