Registered number: 10524522
Alirity Ltd
Unaudited
Financial statements
Information for filing with the registrar
For the Year Ended 31 December 2023
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Alirity Ltd
Chartered Accountants' Report to the Board of Directors on the preparation of the Unaudited Statutory Financial Statements of Alirity 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 financial statements of Alirity Ltd for the year ended 31 December 2023 which comprise the Balance Sheet, the Statement of Changes in Equity and the related notes 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 https://www.icaew.com /regulation.
This report is made solely to the Board of Directors of Alirity Ltd, as a body, in accordance with the terms of our engagement letter dated 16 June 2021. Our work has been undertaken solely to prepare for your approval the financial statements of Alirity Ltd and state those matters that we have agreed to state to the Board of Directors of Alirity Ltd, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Alirity Ltd and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that Alirity Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Alirity Ltd. You consider that Alirity Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or review of the financial statements of Alirity 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 financial statements.
Kreston Reeves LLP
Chartered Accountants
Plus X Innovation Hub
Lewes Road
Brighton
East Sussex
BN2 4GL
16 September 2024
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Alirity Ltd
Registered number: 10524522
Balance Sheet
As at 31 December 2023
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Provisions for liabilities
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Capital redemption reserve
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Page 2
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Alirity Ltd
Registered number: 10524522
Balance Sheet (continued)
As at 31 December 2023
The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
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B Crockford
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The notes on pages 6 to 12 form part of these financial statements.
Page 3
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Alirity Ltd
Statement of Changes in Equity
For the Year Ended 31 December 2023
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Capital redemption reserve
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Comprehensive income for the year
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Total comprehensive income for the year
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Contributions by and distributions to owners
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Dividends: Equity capital
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Shares purchased into treasury
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Total transactions with owners
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The notes on pages 6 to 12 form part of these financial statements.
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Page 4
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Alirity Ltd
Statement of Changes in Equity
For the Year Ended 31 December 2022
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Comprehensive income for the year
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Total comprehensive income for the year
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Contributions by and distributions to owners
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Dividends: Equity capital
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Total transactions with owners
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The notes on pages 6 to 12 form part of these financial statements.
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Page 5
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Alirity Ltd
Notes to the Financial Statements
For the Year Ended 31 December 2023
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 106 Brighton Junction, 1a Isetta Square, 35 New England Street, Brighton, BN1 4GQ.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The following principal accounting policies have been applied:
The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis in preparing the annual financial statements.
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
Rendering of services
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
∙the amount of revenue can be measured reliably;
∙it is probable that the Company will receive the consideration due under the contract;
∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and
∙the costs incurred and the costs to complete the contract can be measured reliably.
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.
The estimated useful lives range as follows:
Page 6
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Alirity Ltd
Notes to the Financial Statements
For the Year Ended 31 December 2023
2.Accounting policies (continued)
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation.
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
Short-term debtors are measured at transaction price.
Short-term creditors are measured at the transaction price.
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Foreign currency translation
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Functional and presentation currency
The Company's functional and presentational currency is GBP.
Transactions and balances
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
Interest income is recognised in profit or loss using the effective interest method.
Page 7
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Alirity Ltd
Notes to the Financial Statements
For the Year Ended 31 December 2023
2.Accounting policies (continued)
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Current and deferred taxation
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The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Deferred tax balances are not recognised in respect of permanent differences. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
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The average monthly number of employees, including directors, during the year was 15 (2022 - 16).
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Page 8
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Alirity Ltd
Notes to the Financial Statements
For the Year Ended 31 December 2023
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Charge for the year on owned assets
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Page 9
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Alirity Ltd
Notes to the Financial Statements
For the Year Ended 31 December 2023
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Charge for the year on owned assets
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Amounts owed by group undertakings
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Called up share capital not paid
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Prepayments and accrued income
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Page 10
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Alirity Ltd
Notes to the Financial Statements
For the Year Ended 31 December 2023
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Creditors: Amounts falling due within one year
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Other taxation and social security
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Charged to profit or loss
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The provision for deferred taxation is made up as follows:
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Accelerated capital allowances
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Page 11
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Alirity Ltd
Notes to the Financial Statements
For the Year Ended 31 December 2023
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Allotted, called up and fully paid
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325 (2022 - 325) Ordinary A shares of £1.00 each
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325 (2022 - 325) Ordinary B shares of £1.00 each
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100 (2022 - Nil) Ordinary C shares of £1.00 each
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50 (2022 - Nil) Ordinary E shares of £1.00 each
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Allotted, called up and partly paid
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Nil (2022 - 250) Ordinary C shares of £1.00 each
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Nil (2022 - 50) Ordinary D shares of £1.00 each
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Nil (2022 - 50) Ordinary E shares of £1.00 each
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Page 12
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