Alternative Element (Holdings) Ltd 09351957 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is is that of a holding company. Digita Accounts Production Advanced 6.30.9574.0 true false false 09351957 2023-01-01 2023-12-31 09351957 2023-12-31 09351957 bus:OrdinaryShareClass1 2023-12-31 09351957 core:RetainedEarningsAccumulatedLosses 2023-12-31 09351957 core:ShareCapital 2023-12-31 09351957 core:CurrentFinancialInstruments 2023-12-31 09351957 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 09351957 bus:SmallEntities 2023-01-01 2023-12-31 09351957 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 09351957 bus:FullAccounts 2023-01-01 2023-12-31 09351957 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 09351957 bus:RegisteredOffice 2023-01-01 2023-12-31 09351957 bus:Director1 2023-01-01 2023-12-31 09351957 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 09351957 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 09351957 bus:Agent1 2023-01-01 2023-12-31 09351957 core:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 09351957 core:ShareCapital 2023-01-01 2023-12-31 09351957 core:OtherRelatedParties 2023-01-01 2023-12-31 09351957 core:Subsidiary1 2023-01-01 2023-12-31 09351957 core:Subsidiary1 1 2023-01-01 2023-12-31 09351957 core:Subsidiary1 countries:England 2023-01-01 2023-12-31 09351957 countries:England 2023-01-01 2023-12-31 09351957 dpl:AdministrativeExpenses 2023-01-01 2023-12-31 09351957 2022-12-31 09351957 core:RetainedEarningsAccumulatedLosses 2022-12-31 09351957 core:ShareCapital 2022-12-31 09351957 core:CostValuation 2022-12-31 09351957 2022-01-01 2022-12-31 09351957 2022-12-31 09351957 bus:OrdinaryShareClass1 2022-12-31 09351957 core:CurrentFinancialInstruments 2022-12-31 09351957 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 09351957 core:RetainedEarningsAccumulatedLosses 2022-01-01 2022-12-31 09351957 core:ShareCapital 2022-01-01 2022-12-31 09351957 core:Subsidiary1 1 2022-01-01 2022-12-31 09351957 dpl:AdministrativeExpenses 2022-01-01 2022-12-31 09351957 2021-12-31 09351957 core:RetainedEarningsAccumulatedLosses 2021-12-31 09351957 core:ShareCapital 2021-12-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 09351957

Alternative Element (Holdings) Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2023

 

Alternative Element (Holdings) Ltd

Contents

Company Information

1

Accountants' Report

2

Profit and Loss Account

3

Statement of Comprehensive Income

4

Balance Sheet

5

Statement of Changes in Equity

6

Notes to the Unaudited Financial Statements

7 to 12

iXBRL Detailed Profit and Loss Account

13

 

Alternative Element (Holdings) Ltd

Company Information

Director

Mr Alan Phillips

Registered office

590 Green Lanes
Palmers Green
London
N13 5RY

Accountants

Thomas Alexander & Co Ltd
590 Green Lanes
Palmers Green
London
N13 5RY

 

Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Alternative Element (Holdings) Ltd
for the Year Ended 31 December 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Alternative Element (Holdings) Ltd for the year ended 31 December 2023 as set out on pages 3 to 12 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Alternative Element (Holdings) Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Alternative Element (Holdings) Ltd and state those matters that we have agreed to state to the Board of Directors of Alternative Element (Holdings) Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Alternative Element (Holdings) Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Alternative Element (Holdings) Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Alternative Element (Holdings) Ltd. You consider that Alternative Element (Holdings) Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Alternative Element (Holdings) Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Thomas Alexander & Co Ltd
590 Green Lanes
Palmers Green
London
N13 5RY

5 August 2024

 

Alternative Element (Holdings) Ltd

Profit and Loss Account for the Year Ended 31 December 2023

Note

2023
£

2022
£

Turnover

 

15,000

40,000

Gross profit

 

15,000

40,000

Administrative expenses

 

(96)

(16)

Operating profit

 

14,904

39,984

Other interest receivable and similar income

 

1,715

-

Profit before tax

16,619

39,984

Tax on profit

 

(289)

-

Profit for the financial year

 

16,330

39,984

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

Alternative Element (Holdings) Ltd

Statement of Comprehensive Income for the Year Ended 31 December 2023

2023
£

2022
£

Profit for the year

16,330

39,984

Total comprehensive income for the year

16,330

39,984

 

Alternative Element (Holdings) Ltd

(Registration number: 09351957)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Investments

4

1

1

Current assets

 

Debtors

5

910,270

847,756

Cash at bank and in hand

 

162,099

257,155

 

1,072,369

1,104,911

Creditors: Amounts falling due within one year

6

(3,718)

(14,590)

Net current assets

 

1,068,651

1,090,321

Net assets

 

1,068,652

1,090,322

Capital and reserves

 

Called up share capital

7

1

1

Retained earnings

1,068,651

1,090,321

Shareholders' funds

 

1,068,652

1,090,322

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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.

Approved and authorised by the director on 5 August 2024
 

.........................................
Mr Alan Phillips
Director

 

Alternative Element (Holdings) Ltd

Statement of Changes in Equity for the Year Ended 31 December 2023

Share capital
£

Retained earnings
£

Total
£

At 1 January 2023

1

1,090,321

1,090,322

Profit for the year

-

16,330

16,330

Dividends

-

(38,000)

(38,000)

At 31 December 2023

1

1,068,651

1,068,652

Share capital
£

Retained earnings
£

Total
£

At 1 January 2022

1

1,088,837

1,088,838

Profit for the year

-

39,984

39,984

Dividends

-

(38,500)

(38,500)

At 31 December 2022

1

1,090,321

1,090,322

 

Alternative Element (Holdings) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

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

The address of its registered office is:
590 Green Lanes
Palmers Green
London
N13 5RY

The principal place of business is:
Marian House
56 Hertford Road
Welwyn
AL6 0BX

These financial statements were authorised for issue by the director on 5 August 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.

Group accounts not prepared

The company has taken advantage of the exemption in section 398 of the Companies Act 2006 from the requirement to prepare consolidated financial statements, on the grounds that it is a small sized group..

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 Element (Holdings) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 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.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

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.

 

Alternative Element (Holdings) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Borrowings

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.

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.

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

 

Alternative Element (Holdings) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

4

Investments

Subsidiaries

£

Cost or valuation

At 1 January 2023

1

Provision

Carrying amount

At 31 December 2023

1

At 31 December 2022

1

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

2023

2022

Subsidiary undertakings

Alan Phillips Associates Limited

590 Green Lanes, London N13 5RY

England

Ordinary shares

100%

100%

Subsidiary undertakings

Alan Phillips Associates Limited

The principal activity of Alan Phillips Associates Limited is Other construction installations. The profit for the financial period of Alan Phillips Associates Limited was £95,556 and the aggregate amount of Capital and reserves at the end of the period was £81,928.

 

Alternative Element (Holdings) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

5

Debtors

Note

2023
£

2022
£

Amounts owed by group undertakings and undertakings in which the company has a participating interest

9

11,513

75,500

Other debtors

 

898,757

772,256

 

910,270

847,756

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Taxation and social security

289

290

Director loan account

3,429

14,300

3,718

14,590

7

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary shares of £1 each

1

1

1

1

       

8

Dividends

2023

2022

£

£

Interim dividend of £38,000.00 (2022 - £38,500.00) per ordinary share

38,000

38,500

 

 
 

Alternative Element (Holdings) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

9

Related party transactions

Summary of transactions with other related parties


Director loan account
At the balance sheet date the amount due to A Phillips was £3,429 (2022: £14,300).


 
Included in other debtors is an amount of £898,757 (2022: £772,256) owed from Alternative Element Properties Ltd, a company under common control.

 

 

Alternative Element (Holdings) Ltd

iXBRL Detailed Profit and Loss Account for the Year Ended 31 December 2023

2023
£

2022
£

Turnover/revenue

15,000

40,000

Cost of sales

Opening stock/inventories

-

-

Closing stock/inventories

-

-

Gross profit

15,000

40,000

Distribution costs

Administrative expenses

Bank charges

(96)

(16)

Other operating income

Other items

Profit on ordinary activities before finance charges and interest

14,904

39,984

Bank interest and similar income receivable

1,715

-

Profit on ordinary activities before taxation

16,619

39,984

Tax on profit or loss on ordinary activities

(289)

-

Profit for the financial year

16,330

39,984