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Registration number: 00231713 (England and Wales)

Alentec Orion Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2023

 

Alentec Orion Limited

Contents

Company Information

1

Strategic Report

2 to 3

Director's Report

4 to 5

Statement of Director's Responsibilities

6

Accountants' Report

7 to 8

Profit and Loss Account

9

Statement of Comprehensive Income

10

Balance Sheet

11

Statement of Changes in Equity

12

Statement of Cash Flows

13

Notes to the Unaudited Financial Statements

14 to 25

 

Alentec Orion Limited

Company Information

Director

Mr Anthony Maple

Company secretary

Mrs Seema Patel

Registered office

Barrs Fold Road
Wingates Industrial Park
WEST HOUGHTON
Lancashire
BL5 3XP

Accountants

Gross Klein
Chartered Accountants
5 St John's Lane
London
EC1M 4BH

 

Alentec Orion Limited

Strategic Report for the Year Ended 31 December 2023

The director presents his strategic report for the year ended 31 December 2023.

Fair review of the business

We aim to present a balanced and comprehensive review of the development and performance of our business during the year and its position at the year end. Our review is consistent with the size and nature of our business and is written in the context of the risks and uncertainties we face.

The principal activity of the company continued to be that of the supply and distribution of lubrication equipment and the manufacture, supply and installation of industrial equipment.


Financial performance indicators have been selected that reflect the strength of the company as a whole including turnover, gross profit margin and operating profit.

Sales have increased by 28.84% (2022 increased by 9.62%). Gross profit margin has decreased to 29.47% compared to the previous year of 30.92%. Operating profit amounts to £137,453 compared to a profit of £70,030 last year. Profit after tax reached £99,058 compared to £55,077 last year..

At the year end the shareholders funds were £402,370 (2022: £303,312).

The business environment in which we operate continues to be challenging. We face competition from companies both inside and outside the UK. We are also affected by consumer spending patterns and choices.

Results
The results for the year are set out on page 11.

Future developments

It is anticipated that there will be reduction in income as customers are looking to cut back on costs and spending on equipment due to the difficult economic conditions. The company's management team is dedicated to maintaining and extending the improvements in customer services, quality and productivity.

 

Alentec Orion Limited

Strategic Report for the Year Ended 31 December 2023 (continued)

Principal risks and uncertainties

All businesses face a range of risks and uncertainties, being subject to hazards from internal and external sources. The company undertakes regular risk assessments and the likelihood and significance of risk factors are considered to ensure risk mitigation.

UK economic performance
The UK economy continues to suffer from reduced consumer spending. The operational leverage is such that any deterioration in sales performance may have a disproportionate reduction in profitability. The company mitigates this by continuous monitoring of costs. In addition, the company is aggressively pursuing work and orders from new and existing customers.

Brexit risk
Along with many UK businesses, uncertainty continues about Brexit together with associated risks, which are being monitored by the company. The company has developed change plans to ensure that it is well placed to operate effectively based on a range of potential scenarios.

Availability of credit
The availability of credit for consumers and businesses has fallen considerably. Thus there is possibility of bad debts. However, this risk is mitigated by the maintenance of cash reserves and through agreements with customers regarding payment terms and credit facilities. Extended credit terms are agreed with suppliers where possible.

Exchange rate fluctuations
Exchange rate fluctuations have had, and continue to have a material impact on the company's operating results. The global financial crisis has led to increased volatility in exchange rates which makes it harder to predict exchange rates and thus perform financial planning. Thus the company only monitors closely the foreign exchange market to try and mitigate this risk.

Approved and authorised by the director on 23 September 2024
 

.........................................
Mr Anthony Maple
Director

 

Alentec Orion Limited

Director's Report for the Year Ended 31 December 2023

The director presents his report and the financial statements for the year ended 31 December 2023.

Director of the company

The director who held office during the year was as follows:

Mr Anthony Maple


Review of business, future developments, principal risks and uncertainties
A review of the business, future developments, principal risks and uncertainties is detailed on pages 2 to 3 of the Strategic Report.

Employee involvement

The company places considerable value on the involvement of its employees and has continued its practice of keeping them informed on matters affecting them as employees and on the various factors affecting the performance of the company. This is achieved through formal and informal meetings.

Employment of disabled persons

Applications for employment for disabled persons are always fully considered, bearing in mind the aptitudes of the applicant concerned. In the event of members of staff becoming disabled, every effort will be made to ensure that their employment with the company continues and that appropriate training is arranged. It is the policy of the company that the training, career development and promotion of disabled persons should, as far as possible, be identical with that of other employees.

Going concern

The company’s review of business, together with the factors likely to affect its future development and the principal risks and uncertainties are described in the Strategic Report on pages 2 to 3. The company has the financial resources and as a consequence, the director believes that the company is well placed to manage its business risks successfully despite the current uncertain economic outlook. After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the annual report and accounts.

 

Alentec Orion Limited

Director's Report for the Year Ended 31 December 2023 (continued)


Statement of director's responsibilities
The director is responsible for preparing the Strategic Report, Directors' Report and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to:

select suitable accounting policies and apply them consistently;

make judgements and accounting estimates that are reasonable and prudent;

state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Small companies provision statement

This report has been prepared in accordance with the small companies regime under the Companies Act 2006.

Approved and authorised by the director on 23 September 2024
 

.........................................
Mr Anthony Maple
Director

 

Alentec Orion Limited

Statement of Director's Responsibilities

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to:

select suitable accounting policies and apply them consistently;

make judgements and accounting estimates that are reasonable and prudent;

state whether applicable United Kingdom Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

 

Independent Chartered Accountants' Review Report to the Director of Alentec Orion Limited

for the Year Ended 31 December 2023

We have reviewed the financial statements of Alentec Orion Limited for the year ended 31 December 2023, which comprise the profit and loss account, balance sheet, cash flow statement and the related notes including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Directors’ responsibility for the financial statements

As explained more fully in the Directors’ Responsibilities Statement [set out on pages 5), the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view.

Accountants’ responsibility

Our responsibility is to express a conclusion based on our review of the financial statements. We conducted our review in accordance with International Standard on Review Engagements (ISRE) 2400 (Revised),Engagements to review historical financial statementsand ICAEW Technical Release TECH 09/13AAF (Revised)Assurance review engagements on historical financial statements (2019). ISRE 2400 (Revised) requires us to conclude whether anything has come to our attention that causes us to believe that the financial statements, taken as a whole, are not prepared, in all material respects, in accordance with the [applicable financial reporting framework]. ISRE 2400 (Revised) also requires us to comply with the ICAEW Code of Ethics [and the FRC’s Ethical Standard, as applicable].

Scope of the assurance review

A review of financial statements in accordance with ISRE 2400 (Revised) is a limited assurance engagement. We have performed procedures, primarily consisting of making enquiries of management and others within the entity, as appropriate, applying analytical procedures, and evaluating the evidence obtained.

Conclusion

Based on our review, nothing has come to our attention that causes us to believe that the financial statements have not been prepared:

So as to give a true and fair view of the state of the company’s affairs as at 31 December 2023 and of its profit for the year then ended;

in accordance with applicable accounting standards; and

in accordance with the requirements of the Companies Act 2006.

Use of our report

This report is made solely to the company’s directors, as a body, in accordance with the terms of our engagement letter dated 22 July 2024. Our review has been undertaken so that we may state to the company’s directors those matters we have agreed to state to them in a reviewer’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s directors as a body, for our review work, for this report, or for the conclusions we have formed.

 

Independent Chartered Accountants' Review Report to the Director of Alentec Orion Limited

for the Year Ended 31 December 2023 (continued)

Howard Gross

Gross Klein

Chartered Accountants

5 St John’s Lane

London EC1M 4BH

Date

 

Alentec Orion Limited

Profit and Loss Account for the Year Ended 31 December 2023

Note

2023
£

2022
£

Turnover

3

1,470,683

1,141,509

Cost of sales

 

(1,037,210)

(788,523)

Gross profit

 

433,473

352,986

Administrative expenses

 

(296,020)

(282,956)

Operating profit

4

137,453

70,030

Other interest receivable and similar income

5

9

1

Profit before tax

 

137,462

70,031

Tax on profit

9

(38,404)

(14,954)

Profit for the financial year

 

99,058

55,077

 

Alentec Orion Limited

Statement of Comprehensive Income for the Year Ended 31 December 2023

2023
£

2022
£

Profit for the year

99,058

55,077

Total comprehensive income for the year

99,058

55,077

 

Alentec Orion Limited

(Registration number: 00231713)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

10

29,753

4,520

Current assets

 

Stocks

11

225,171

288,261

Debtors

12

230,671

238,140

Cash at bank and in hand

 

215,827

158,555

 

671,669

684,956

Creditors: Amounts falling due within one year

14

(292,054)

(385,305)

Net current assets

 

379,615

299,651

Total assets less current liabilities

 

409,368

304,171

Provisions for liabilities

15

(6,998)

(859)

Net assets

 

402,370

303,312

Capital and reserves

 

Called up share capital

20,000

20,000

Retained earnings

382,370

283,312

Shareholders' funds

 

402,370

303,312

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 23 September 2024
 

.........................................
Mr Anthony Maple
Director

 

Alentec Orion Limited

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

Share capital
£

Retained earnings
£

Total
£

At 1 January 2023

20,000

283,312

303,312

Profit for the year

-

99,058

99,058

At 31 December 2023

20,000

382,370

402,370

Share capital
£

Retained earnings
£

Total
£

At 1 January 2022

20,000

228,235

248,235

Profit for the year

-

55,077

55,077

At 31 December 2022

20,000

283,312

303,312


 

 

Alentec Orion Limited

Statement of Cash Flows for the Year Ended 31 December 2023

Note

2023
 £

2022
 £

Cash flows from operating activities

Profit for the year

 

99,058

55,077

Adjustments to cash flows from non-cash items

 

Depreciation and amortisation

4

7,866

8,016

Profit on disposal of tangible assets

-

(9,537)

Finance income

5

(9)

(1)

Corporation Tax expense

9

38,404

14,954

Group relief payable/(receivable)

 

(9,408)

-

 

135,911

68,509

Working capital adjustments

 

Decrease/(increase) in stocks

11

63,090

(94,880)

Decrease/(increase) in trade debtors

12

7,469

(19,454)

(Decrease)/increase in trade creditors

14

(102,014)

99,641

Cash generated from operations

 

104,456

53,816

Corporation Tax paid

9

(14,095)

-

Net cash flow from operating activities

 

90,361

53,816

Cash flows from investing activities

 

Interest received

5

9

1

Acquisitions of tangible assets

(32,969)

-

Proceeds from sale of tangible assets

 

-

13,263

Net cash flows from investing activities

 

(32,960)

13,264

Net increase in cash and cash equivalents

 

57,401

67,080

Cash and cash equivalents at 1 January

 

158,426

91,475

Cash and cash equivalents at 31 December

13

215,827

158,555

 

Alentec Orion Limited

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

1

Statement of compliance

Alentec Orion Limited is a limited liability company incorporated in England. The Registered Office is Barrs Fold Road, Wingates Industrial Park, Westhoughton, Bolton BL5 3XP.
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" (FRS 102) and the Companies Act 2006.

These financial statements were authorised for issue by the director on 23 September 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.

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'.

Basis of preparation

These financial statements have been prepared using the historical cost convention.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £1.

Turnover

Revenue from the sales of goods is recognised when the company has transferred the significant risks and rewards of ownership to the buyer, and it is probable that the company will receive the previously agreed upon payment. These criteria are met when the goods are delivered to the buyer.

Government grants

Grants of a revenue nature are recognised in "other income" within profit or loss in the same period as the related expenditure. This includes the Government Coronavirus Job Rentention Scheme ("Furlough"). The company has not directly benefited from any other forms of government assistance.

Other grants

Grants are accounted for under the accruals model as permitted by FRS102. Grants relating to expenditure on tangible fixed assets are credited to the profit and loss account at the same rate as the depreciation on the assets to which the grants relates. The deferred element of grants is included in creditors as deferred income,

Foreign currency transactions and balances

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are recognised in the income statement.

 

Alentec Orion Limited

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

2

Accounting policies (continued)

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.

Deferred tax is recognised in respect of all timing differences which are differences between taxable profits and total comprehensive income that arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements, except that unrelieved tax losses and other deferred tax assets are recognised only to the extent that the directors consider that it probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:

Asset class

Depreciation method and rate

Short leasehold

20% on a straight line basis

Computer equipment

33.33% on a straight line basis

Plant and machinery

20% on a straight line basis

Fixtures, fittings and equipment

20% on a straight line basis

Motor vehicles

25% on a straight line basis

The assets' residual values, useful lives and depreciation methods are reviewed annually, and adjusted if appropriate, at each balance sheet date. The effect of any change is accounted for prospectively.

On disposal, the difference between the net disposal proceeds and the carrying amount of the item sold is recognised in profit or loss.

Property, plant and equipment are reviewed for impairment whenever there are events that indicate that an impairment may have occurred. An impairment loss is recognised if an asset’s carrying amount exceeds the greater of its value in use and fair value less costs to sell. Impairment losses are recognised in profit or loss.

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.

 

Alentec Orion Limited

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

2

Accounting policies (continued)

trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. These and all other debtors receivable within one year are recorded at transaction price. A provision for the impairment of these 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. Any losses arising from impairment are recognised in the profit and loss account in administrative expenses.

Stocks

Stocks are work in progress are stated at the lower of cost and net realisable value. Net realisable value is based upon estmated selling price less further costs expected to be incurred to completion and sale. Where necessary, provision is made for obsloete, slow moving and defective stocks.

trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors and all other creditors 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 and all other creditors due within one year are recorded at the transaction price.

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.

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.

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.

Defined contribution pension obligation

The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the income statement in the year they are payable. The assets of the scheme are administered by trustees in a fund independent from the company.

 

Alentec Orion Limited

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

2

Accounting policies (continued)


Financial instruments - classification
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' of FRS 102 to all of its financial instruments. The company only enters into basic financial instrument transactions. Financial assets and liabilities are offset, with the net amount presented in the financial statement, when there is a legally enforceable right to set off the recognised amounts and there is an intenetion to settle on a net basis or to realise the asset and settle the liability simultaneously.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.


Financial instruments - recognition and measurement
Basic financial assets, which include trade debtors, amounts owed by related parties, other debtors, accrued income and cash at bank and in hand, are intially measured at transaction price including transaction costs and are subsequently carried at amortised cost using effective interest method unless the arrangement constitues a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownsership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Basic financial liabilities, including trade creditors, amounts due to related parties and accruals that are classified as debt, are intially recognised at transaction price unless the arrangement consitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Financial liabilities classsified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.


Financial instruments - impairment
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

 

Alentec Orion Limited

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

3

Revenue

The analysis of the company's revenue for the year from continuing operations is as follows:

2023
 £

2022
 £

Sales

1,470,683

1,141,509

The analysis of the company's turnover for the year by market is as follows:

2023
 £

2022
 £

UK

1,439,929

1,129,176

European Union

19,132

12,333

Rest of world

11,622

-

1,470,683

1,141,509

4

Operating profit

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

7,866

8,016

Foreign exchange losses

1,348

452

Profit on disposal of property, plant and equipment

-

(9,537)

5

Other interest receivable and similar income

2023
 £

2022
 £

Interest income on bank deposits

9

1

 

Alentec Orion Limited

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

6

Staff costs

The aggregate payroll costs (including director's remuneration) were as follows:

2023
 £

2022
 £

Wages and salaries

181,174

183,142

Social security costs

13,298

19,528

Pension costs, defined contribution scheme

5,368

5,824

199,840

208,494

2023

2022

Directors

1

1

Administration

2

3

Engineers

-

3

4

The average number of persons employed by the company (including the director) during the year, analysed by category was as follows:

2023
No.

2022
No.

Administration and support

3

4

3

4

7

Director's remuneration

The director's remuneration for the year was as follows:

2023
£

2022
£

Remuneration

41,500

39,700

Contributions paid to money purchase schemes

2,075

1,960

43,575

41,660

During the year the number of directors who were receiving benefits and share incentives was as follows:

2023
No.

2022
No.

Accruing benefits under defined benefit pension scheme

1

1

 

Alentec Orion Limited

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

8

Auditors' remuneration

2023
£

2022
£

Audit of the financial statements

-

4,010

Other fees to auditors

All other non-audit services

-

4,010


 

 

Alentec Orion Limited

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

9

Taxation

Tax charged/(credited) in the profit and loss account

2023
£

2022
£

Current taxation

UK corporation tax

32,266

14,095

Deferred taxation

Arising from origination and reversal of timing differences

6,138

859

Tax expense in the income statement

38,404

14,954

10

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2023

6,792

30,101

36,893

Additions

1,234

31,735

32,969

At 31 December 2023

8,026

61,836

69,862

Depreciation

At 1 January 2023

6,153

26,090

32,243

Charge for the year

549

7,317

7,866

At 31 December 2023

6,702

33,407

40,109

Carrying amount

At 31 December 2023

1,324

28,429

29,753

At 31 December 2022

1,127

3,393

4,520

11

Stocks

2023
£

2022
£

Finished goods and goods for resale

225,171

288,261

 

Alentec Orion Limited

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

12

Debtors

Current

Note

2023
£

2022
£

Trade debtors

 

220,691

204,339

Amounts owed by related parties

18

4,209

25,916

Other debtors

 

898

2,660

Prepayments

 

4,873

5,225

   

230,671

238,140

 

Alentec Orion Limited

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

13

Cash and cash equivalents

2023
£

2022
£

Cash on hand

106

106

Cash at bank

215,721

158,449

215,827

158,555

14

Creditors

Note

2023
 £

2022
 £

Due within one year

 

trade creditors

 

26,760

75,782

Amounts due to related parties

18

162,888

229,559

Social security and other taxes

 

44,373

42,663

Other payables

 

1,020

2,384

Accrued expenses

 

34,155

20,822

Corporation Tax

 

22,858

14,095

 

292,054

385,305

 

Alentec Orion Limited

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

15

Deferred tax

Deferred tax
£

Total
£

At 1 January 2023

859

859

Additional provisions

6,139

6,139

At 31 December 2023

6,998

6,998

16

Pension and other schemes

Defined contribution pension scheme

The company operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the company to the scheme and amounted to £5,368 (2022 - £5,824).

17

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary shares of £1 each

18,300

18,300

18,300

18,300

"A" shares of £1 each

1,700

1,700

1,700

1,700

20,000

20,000

20,000

20,000

 

Alentec Orion Limited

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

18

Related party transactions

,
Samoa Limited
This is a related party by virtue of common control. During the year, the following have been charged or invoiced from Samoa Limited:
Management and accountancy services £25,500 (2022: 25,500 ), service of premises £18,000 (2022: £18,000) and other rechargeable expenses of £52,980 (2022: £43,380).
Sales were £187 (2022: £550). Purchases were £8,771 (2022: £1,092)
At the Balance Sheet date, the amount receivable from Samoa Limited was £225 (2022: £82) and payable was £20,901 (2022: £18,632).


Samoa Industrial SA
This is a related party by virtue of common control. The sales to Samoa Industrial SA were £nil (2022: £7) and the purchases were £51,115 (2022: £70,925).
At the Balance Sheet date, the amount payable to Samoa Industrial SA was £25,761 (2022: £22,248).


Alentec & Orion AB
This is a related party by virtue of common control. The sales to Alentec & Orion AB were £4,223 (2022: £7,288) and the purchases were £481,820 (2022: £421,954).
At the Balance Sheet date, the amount receivable from Alentec & Orion AB was £nil (2022: £3,283). The amount payable to Alentec & Orion AB was £89,613 (2022: £147,525).


Hydrair Limited
This is a related party by virtue of common control. During the year, purchases from Hydrair Limited were £142,501 (2022: £131,745).
At the Balance Sheet date, the amount receivable from Hydrair Limited was £3,984 (2022: £19,268). The amount payable to Hydrair Limited was £26,613 (2022: £41,154).


Linter Hodings Limited
This is a related party by virtue of common control. Amount receivable was £nil (2023: £3,283)

19

Parent and ultimate parent undertaking

The company's immediate parent is Linter Holdings Limited, incorporated in England and Wales.

 The ultimate controlling party is Gonzalez-Moratiel family.