A & LC Redditch Limited 06817681 false 2023-03-01 2024-02-29 2024-02-29 The principal activity of the company is that of hydraulic Hose Repairs Digita Accounts Production Advanced 6.30.9574.0 true true 06817681 2023-03-01 2024-02-29 06817681 2024-02-29 06817681 core:RetainedEarningsAccumulatedLosses 2024-02-29 06817681 core:ShareCapital 2024-02-29 06817681 core:CurrentFinancialInstruments 2024-02-29 06817681 core:CurrentFinancialInstruments core:WithinOneYear 2024-02-29 06817681 core:Non-currentFinancialInstruments 2024-02-29 06817681 core:Non-currentFinancialInstruments core:AfterOneYear 2024-02-29 06817681 core:Goodwill 2024-02-29 06817681 core:PatentsTrademarksLicencesConcessionsSimilar 2024-02-29 06817681 core:FurnitureFittings 2024-02-29 06817681 core:MotorVehicles 2024-02-29 06817681 core:OfficeEquipment 2024-02-29 06817681 core:PlantMachinery 2024-02-29 06817681 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2024-02-29 06817681 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2024-02-29 06817681 bus:SmallEntities 2023-03-01 2024-02-29 06817681 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 06817681 bus:FilletedAccounts 2023-03-01 2024-02-29 06817681 bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 06817681 bus:RegisteredOffice 2023-03-01 2024-02-29 06817681 bus:Director1 2023-03-01 2024-02-29 06817681 bus:Director2 2023-03-01 2024-02-29 06817681 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 06817681 core:Goodwill 2023-03-01 2024-02-29 06817681 core:LicencesFranchises 2023-03-01 2024-02-29 06817681 core:FurnitureFittings 2023-03-01 2024-02-29 06817681 core:MotorVehicles 2023-03-01 2024-02-29 06817681 core:OfficeEquipment 2023-03-01 2024-02-29 06817681 core:PlantMachinery 2023-03-01 2024-02-29 06817681 core:Vehicles 2023-03-01 2024-02-29 06817681 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2023-03-01 2024-02-29 06817681 core:KeyManagementPersonnel 2023-03-01 2024-02-29 06817681 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-03-01 2024-02-29 06817681 countries:AllCountries 2023-03-01 2024-02-29 06817681 2023-02-28 06817681 core:Goodwill 2023-02-28 06817681 core:PatentsTrademarksLicencesConcessionsSimilar 2023-02-28 06817681 core:FurnitureFittings 2023-02-28 06817681 core:MotorVehicles 2023-02-28 06817681 core:OfficeEquipment 2023-02-28 06817681 core:PlantMachinery 2023-02-28 06817681 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2023-02-28 06817681 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-02-28 06817681 2022-03-01 2023-02-28 06817681 2023-02-28 06817681 core:RetainedEarningsAccumulatedLosses 2023-02-28 06817681 core:ShareCapital 2023-02-28 06817681 core:CurrentFinancialInstruments 2023-02-28 06817681 core:CurrentFinancialInstruments core:WithinOneYear 2023-02-28 06817681 core:Non-currentFinancialInstruments 2023-02-28 06817681 core:Non-currentFinancialInstruments core:AfterOneYear 2023-02-28 06817681 core:FurnitureFittings 2023-02-28 06817681 core:MotorVehicles 2023-02-28 06817681 core:OfficeEquipment 2023-02-28 06817681 core:PlantMachinery 2023-02-28 06817681 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2023-02-28 06817681 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-02-28 06817681 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2022-03-01 2023-02-28 06817681 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2022-03-01 2023-02-28 06817681 2022-02-28 06817681 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2022-02-28 06817681 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2022-02-28 iso4217:GBP xbrli:pure

Registration number: 06817681

A & LC Redditch Limited

trading as Pirtek Redditch

Unaudited Filleted Financial Statements

for the Year Ended 29 February 2024

 

A & LC Redditch Limited

trading as Pirtek Redditch

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 12

 

A & LC Redditch Limited

trading as Pirtek Redditch

Company Information

Directors

Mr AK Connell

Mrs LE Connell

Registered office

Unit 52
Padgets Lane
South Moons Moat Ind. Estate
Redditch
Worcestershire
B98 0RD

 

A & LC Redditch Limited

trading as Pirtek Redditch

(Registration number: 06817681)
Balance Sheet as at 29 February 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

79,268

93,888

Current assets

 

Stocks

6

82,032

90,130

Debtors

7

224,114

238,001

Cash at bank and in hand

 

305,128

224,666

 

611,274

552,797

Creditors: Amounts falling due within one year

8

(277,513)

(234,729)

Net current assets

 

333,761

318,068

Total assets less current liabilities

 

413,029

411,956

Creditors: Amounts falling due after more than one year

8

(38,805)

(87,846)

Provisions for liabilities

(15,060)

(17,838)

Net assets

 

359,164

306,272

Capital and reserves

 

Called up share capital

3

3

Retained earnings

359,161

306,269

Shareholders' funds

 

359,164

306,272

 

A & LC Redditch Limited

trading as Pirtek Redditch

(Registration number: 06817681)
Balance Sheet as at 29 February 2024 (continued)

For the financial year ending 29 February 2024 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 13 September 2024 and signed on its behalf by:
 

.........................................
Mrs LE Connell
Director

   
     
 

A & LC Redditch Limited

trading as Pirtek Redditch

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

1

General information

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

The address of its registered office is:
Unit 52
Padgets Lane
South Moons Moat Ind. Estate
Redditch
Worcestershire
B98 0RD

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.

Tax

The tax expense for the period comprises current and deferred 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.

 

A & LC Redditch Limited

trading as Pirtek Redditch

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024 (continued)

2

Accounting policies (continued)

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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

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:

Asset class

Depreciation method and rate

Plant and machinery

10 years straight line.

Fixtures and fittings

10 years straight line.

Motor vans

3 years straight line.

Office equipment

5 years straight line.

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

 

A & LC Redditch Limited

trading as Pirtek Redditch

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024 (continued)

2

Accounting policies (continued)

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

5 years straight line.

Licence fee

10 years straight line.

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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.

 

A & LC Redditch Limited

trading as Pirtek Redditch

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024 (continued)

2

Accounting policies (continued)

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

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 8 (2023 - 8).

 

A & LC Redditch Limited

trading as Pirtek Redditch

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024 (continued)

4

Intangible assets

Goodwill
 £

Trademarks, patents and licenses
 £

Total
£

Cost or valuation

At 1 March 2023

67,500

10,000

77,500

At 29 February 2024

67,500

10,000

77,500

Amortisation

At 1 March 2023

67,500

10,000

77,500

At 29 February 2024

67,500

10,000

77,500

Carrying amount

At 29 February 2024

-

-

-

 

A & LC Redditch Limited

trading as Pirtek Redditch

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024 (continued)

5

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Office equipment
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 March 2023

6,925

7,325

49,716

158,643

222,609

Additions

22,137

15,230

-

-

37,367

Disposals

-

-

-

(28,641)

(28,641)

At 29 February 2024

29,062

22,555

49,716

130,002

231,335

Depreciation

At 1 March 2023

2,200

2,891

38,441

85,189

128,721

Charge for the year

1,458

803

6,471

43,254

51,986

Eliminated on disposal

-

-

-

(28,640)

(28,640)

At 29 February 2024

3,658

3,694

44,912

99,803

152,067

Carrying amount

At 29 February 2024

25,404

18,861

4,804

30,199

79,268

At 28 February 2023

4,725

4,434

11,275

73,454

93,888

 

A & LC Redditch Limited

trading as Pirtek Redditch

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024 (continued)

6

Stocks

2024
£

2023
£

Raw materials and consumables

82,032

90,130

7

Debtors

Current

2024
£

2023
£

Trade debtors

207,784

222,982

Prepayments

16,330

15,019

 

224,114

238,001

 

A & LC Redditch Limited

trading as Pirtek Redditch

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024 (continued)

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

40,786

45,064

Trade creditors

 

111,065

89,144

Taxation and social security

 

36,248

16,951

Accruals and deferred income

 

48,919

42,516

Other creditors

 

40,495

41,054

 

277,513

234,729

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

38,805

87,846

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

21,000

39,000

HP and finance lease liabilities

17,705

40,746

Directors loan account

100

8,100

38,805

87,846

Current loans and borrowings

2024
£

2023
£

Bank borrowings

18,000

18,000

Hire purchase liabilities

22,786

27,064

40,786

45,064

 

A & LC Redditch Limited

trading as Pirtek Redditch

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024 (continued)

10

Related party transactions

Summary of transactions with entities with joint control or significant interest

Expresspartner Ltd and ALC Wolverhampton Ltd
 A & LC Redditch Ltd has traded with Expresspartner Ltd and ALC Wolverhampton Ltd during the year. Expresspartner Ltd also loaned A & LC Redditch Ltd money in a previous period and an amount is still outstanding.
 

Loans from related parties

2024

Entities with joint control or significant influence
£

Key management
£

Total
£

At start of period

39,766

8,100

47,866

Repaid

-

(8,000)

(8,000)

At end of period

39,766

100

39,866

2023

Entities with joint control or significant influence
£

Key management
£

Total
£

At start of period

23,500

8,100

31,600

Advanced

16,266

-

16,266

At end of period

39,766

8,100

47,866

Terms of loans from related parties

There are no terms of repayment or interest charged on the loans owed to entities with joint control or significant influence