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REGISTERED NUMBER: 04544831 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

ALPHA ELECTRONICS (WALES) LIMITED

ALPHA ELECTRONICS (WALES) LIMITED (REGISTERED NUMBER: 04544831)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ALPHA ELECTRONICS (WALES) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: F W Morris





REGISTERED OFFICE: Unit 6 Spectrum Business Estate
Bircholt Road
Maidstone
Kent
ME15 9YP





REGISTERED NUMBER: 04544831 (England and Wales)





ACCOUNTANTS: Crowe U.K. LLP
Riverside House
40-46 High Street
Maidstone
Kent
ME14 1JH

ALPHA ELECTRONICS (WALES) LIMITED (REGISTERED NUMBER: 04544831)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 24,528 33,596
24,528 33,596

CURRENT ASSETS
Stocks 99,472 64,978
Debtors 6 37,537 94,164
Cash at bank and in hand 66,193 46,548
203,202 205,690
CREDITORS
Amounts falling due within one year 7 163,999 160,980
NET CURRENT ASSETS 39,203 44,710
TOTAL ASSETS LESS CURRENT
LIABILITIES

63,731

78,306

CREDITORS
Amounts falling due after more than one
year

8

(6,333

)

(10,333

)

PROVISIONS FOR LIABILITIES (2,631 ) (5,114 )
NET ASSETS 54,767 62,859

CAPITAL AND RESERVES
Called up share capital 9 9,000 9,000
Capital redemption reserve 1,000 1,000
Retained earnings 44,767 52,859
SHAREHOLDERS' FUNDS 54,767 62,859

ALPHA ELECTRONICS (WALES) LIMITED (REGISTERED NUMBER: 04544831)

BALANCE SHEET - continued
31 DECEMBER 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved and authorised for issue by the director and authorised for issue on 25 September 2024 and were signed by:





F W Morris - Director


ALPHA ELECTRONICS (WALES) LIMITED (REGISTERED NUMBER: 04544831)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023


1. STATUTORY INFORMATION

Alpha Electronics (Wales) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern
Accounting standards require the director to consider the appropriateness of the going concern basis when preparing the financial statements. The director confirms that he considers that the going concern basis remains appropriate. The director believes that the company has sufficient resources to continue in operational existence for the foreseeable future. The director believes this to be the case as the company has positive reserves, cash balances and no significant long term liabilities.

Thus he continues to adopt the going concern basis of accounting in preparing the annual financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 15% on cost and 15% on reducing balance
Motor vehicles - 25% on cost
Office equipment - 20% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

ALPHA ELECTRONICS (WALES) LIMITED (REGISTERED NUMBER: 04544831)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Debtors
Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with no significant risk of change in value.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Creditors
Short term creditors are measured at the transaction price.

Financial reporting standard 102 - reduced disclosure exemptions
The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
- the requirements of Section 7 Statement of Cash Flows;
- the requirements of Section 3 Financial Statement Presentation paragraph 3.17 (d);
- the requirements of Section 11 Financial Instruments paragraphs 11.39 to 11.48A;
- the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.29;
- the requirements of Section 26 Share-based Payment paragraphs 26.18(b), 26.19 to 26.21 and 26.23;
- the requirements of Section 33 Related Party Disclosures paragraph 33.7.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 10,000
AMORTISATION
At 1 January 2023
and 31 December 2023 10,000
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

ALPHA ELECTRONICS (WALES) LIMITED (REGISTERED NUMBER: 04544831)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Office
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 January 2023 29,568 2,645 16,104 6,726 55,043
Disposals (708 ) - - - (708 )
At 31 December 2023 28,860 2,645 16,104 6,726 54,335
DEPRECIATION
At 1 January 2023 10,603 2,231 4,014 4,599 21,447
Charge for year 3,713 292 4,015 945 8,965
Eliminated on disposal (605 ) - - - (605 )
At 31 December 2023 13,711 2,523 8,029 5,544 29,807
NET BOOK VALUE
At 31 December 2023 15,149 122 8,075 1,182 24,528
At 31 December 2022 18,965 414 12,090 2,127 33,596

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 26,348 90,749
Amounts owed by group undertakings 4,163 -
Other debtors - 115
VAT 3,726 -
Prepayments 3,300 3,300
37,537 94,164

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 4,000 4,000
Trade creditors 42,710 92,989
Amounts owed to group undertakings 99,097 23,423
Social security and other taxes 1,718 1,488
VAT - 8,417
Other creditors 12,954 27,036
Accruals 3,520 3,627
163,999 160,980

There is a charge registered at Companies House.

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 1-2 years 4,000 4,000
Bank loans - 2-5 years 2,333 6,333
6,333 10,333

ALPHA ELECTRONICS (WALES) LIMITED (REGISTERED NUMBER: 04544831)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued

During a prior year, the company obtained a £20,000 Bounce Back Loan as part of the Covid-19 government support to businesses during the pandemic. Interest is payable on the loan at 2.5% per annum over 6 years. The interest payable for the first 12 months is paid by the government. The loan is due to be repaid in 60 monthly instalments commencing 12 months from drawdown date. The loan is secured by a government backed guarantee.

There is a fixed and floating charge registered at Companies House.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
9,000 Ordinary 1 9,000 9,000

10. RELATED PARTY TRANSACTIONS

Alpha Electronics (Southern) Limited
A company under common control.

During the year, the company purchased goods from Alpha Electronics (Southern) Limited with a value of £103,799 (2022: £53,454) and made sales to that company of £76,040 (2022: £80,273). At the year end, the company owed £99,097 (2022: £20,073) to Alpha Electronics (Southern) Limited.

Alpha Electronics (Northern) Limited
A company under common control.

During the year, the company purchased goods from Alpha Electronics (Northern) Limited with a value of £31,404 (2022: £39,471) and made sales to that company of £32,222 (2022: £38,818). At the year end, the company was owed £4,163 (2022: £3,350 was owed to) by Alpha Electronics (Northern) Limited.


All transactions were made on normal commercial terms.