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REGISTERED NUMBER: 01846199 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

ALPHA ELECTRONICS (SOUTHERN) LIMITED

ALPHA ELECTRONICS (SOUTHERN) LIMITED (REGISTERED NUMBER: 01846199)

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 (SOUTHERN) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: J Morris
F W Morris





SECRETARY: F W Morris





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





REGISTERED NUMBER: 01846199 (England and Wales)





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

ALPHA ELECTRONICS (SOUTHERN) LIMITED (REGISTERED NUMBER: 01846199)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 205,207 246,399

CURRENT ASSETS
Stocks 276,609 205,180
Debtors 5 580,341 514,254
Cash at bank and in hand 153,228 378,770
1,010,178 1,098,204
CREDITORS
Amounts falling due within one year 6 490,173 611,311
NET CURRENT ASSETS 520,005 486,893
TOTAL ASSETS LESS CURRENT
LIABILITIES

725,212

733,292

CREDITORS
Amounts falling due after more than one
year

7

(13,245

)

(64,554

)

PROVISIONS FOR LIABILITIES 9 (35,141 ) (45,256 )
NET ASSETS 676,826 623,482

CAPITAL AND RESERVES
Called up share capital 10 30,000 30,000
Share premium 11 11,667 11,667
Capital redemption reserve 11 3,333 3,333
Retained earnings 11 631,826 578,482
SHAREHOLDERS' FUNDS 676,826 623,482

ALPHA ELECTRONICS (SOUTHERN) LIMITED (REGISTERED NUMBER: 01846199)

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 directors acknowledge their 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 Board of Directors and authorised for issue on 25 September 2024 and were signed on its behalf by:





F W Morris - Director


ALPHA ELECTRONICS (SOUTHERN) LIMITED (REGISTERED NUMBER: 01846199)

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


1. STATUTORY INFORMATION

Alpha Electronics (Southern) 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 directors to consider the appropriateness of the going concern basis when preparing the financial statements. The directors confirm that they consider that the going concern basis remains appropriate. The directors believe that the company has sufficient resources to continue in operational existence for the foreseeable future. The directors believe this to be the case as the company has positive reserves, cash balances and no significant long term liabilities.

Thus they continue to adopt the going concern basis of accounting in preparing the annual financial statements.

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.

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

Income is recognised when the goods have been delivered from the warehouse to the customer.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 15% on cost and 15% on reducing balance
Motor vehicles - 25% 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.


ALPHA ELECTRONICS (SOUTHERN) LIMITED (REGISTERED NUMBER: 01846199)

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


2. ACCOUNTING POLICIES - continued
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.

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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2022 - 20 ) .

ALPHA ELECTRONICS (SOUTHERN) LIMITED (REGISTERED NUMBER: 01846199)

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


4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 January 2023 379,863 210,293 355,543 945,699
Additions 15,997 11,688 29,000 56,685
Disposals (29,805 ) - (43,115 ) (72,920 )
At 31 December 2023 366,055 221,981 341,428 929,464
DEPRECIATION
At 1 January 2023 294,388 168,513 236,399 699,300
Charge for year 23,642 11,654 55,648 90,944
Eliminated on disposal (28,310 ) - (37,677 ) (65,987 )
At 31 December 2023 289,720 180,167 254,370 724,257
NET BOOK VALUE
At 31 December 2023 76,335 41,814 87,058 205,207
At 31 December 2022 85,475 41,780 119,144 246,399

The net book value of assets held under finance leases or hire purchase contracts, included above, are £83,160 (2022: £104,289).

5. DEBTORS LESS THAN ONE YEAR
2023 2022
£    £   
Trade debtors 304,813 426,574
Amounts owed by group undertakings 249,251 77,879
Prepayments and accrued income 26,277 9,801
580,341 514,254

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 1,172 11,271
Hire purchase contracts (see note 8) 28,040 32,433
Trade creditors 367,336 455,126
Corporation tax 34,257 21,787
Social security and other taxes 22,294 16,469
VAT 20,106 34,255
Other creditors 8,927 13,844
Accruals and deferred income 8,041 26,126
490,173 611,311

The hire purchase creditor is secured upon the assets to which it relates. There are two charges registered at Companies House.

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 1-2 years - 10,000
Bank loans - 2-5 years - 14,167
Hire purchase contracts (see note 8) 13,245 40,387
13,245 64,554

ALPHA ELECTRONICS (SOUTHERN) LIMITED (REGISTERED NUMBER: 01846199)

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


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

The company has an existing Bounce Back Loan amount of £50,000 which was received as part of the Covid-19 government support 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 was 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.

8. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2023 2022
£    £   
Net obligations repayable:
Within one year 28,040 32,433
Between one and five years 13,245 40,387
41,285 72,820

At the year end date, the company had non-cancellable operating lease commitments as follows:




Land and
Buildings
Other
operating
leases
£ £
Expiring:
Within one year
Between one and five years 8,000 -
In more than five years -
8,000 -

9. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax
Accelerated capital allowances 35,179 44,792
Deferred tax (38 ) 464
35,141 45,256

Deferred
tax
£   
Balance at 1 January 2023 45,256
Provided during year (10,115 )
Balance at 31 December 2023 35,141

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
30,000 Ordinary £1.00 30,000 30,000

ALPHA ELECTRONICS (SOUTHERN) LIMITED (REGISTERED NUMBER: 01846199)

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


11. RESERVES
Capital
Retained Share redemption
earnings premium reserve Totals
£    £    £    £   

At 1 January 2023 578,482 11,667 3,333 593,482
Profit for the year 83,344 83,344
Dividends (30,000 ) (30,000 )
At 31 December 2023 631,826 11,667 3,333 646,826

12. RELATED PARTY DISCLOSURES

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 £96,936 (2022: £163,397) and made sales to that company of £101,038 (2022: £117,828).

At the balance sheet date, the amount due from Alpha Electronics (Northern) Limited was £146,989 (2022: £52,531).

Alpha Electronics (Wales) Limited

A company under common control

During the year, the company purchased goods from Alpha Electronics (Wales) Limited with a value of £77,097 (2022: £82,822) and made sales to that company of £103,097 (2022: £71,472).

At the balance sheet date, the amount due from Alpha Electronics (Wales) Limited was £102,262 (2022: £25,348).

F W Morris
Director

During the year, dividends of £15,267 (2022: £5,100) were voted to F W Morris.

J Morris
Director

During the year, dividends of £3,300 (2022: £1,100) were voted to J Morris.

S Coley
Former director

During the year, dividends of £3,333 (2022: £1,100) were voted to S Coley.

A Willis
Former director

During the year, dividends of £8,100 (2022: £2,700) were voted to A Willis.

All transactions were made on normal commercial terms.

13. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is F W Morris.

ALPHA ELECTRONICS (SOUTHERN) LIMITED (REGISTERED NUMBER: 01846199)

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


14. PENSION COMMITMENTS

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £12,680 (2022: £15,482). Contributions payable to the fund at the balance sheet date amounted to £2,275 (2022: £2,123).