Company registration number 08091183 (England and Wales)
ALROY CONSULTING SERVICES LTD
Unaudited financial statements
For the year ended 29 February 2024
Pages for filing with registrar
ALROY CONSULTING SERVICES LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
ALROY CONSULTING SERVICES LTD
BALANCE SHEET
As at 29 February 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
400,200
408,900
Investments
5
375,087
375,102
775,287
784,002
Current assets
Debtors
6
5,140
26,913
Cash at bank and in hand
135,199
343,341
140,339
370,254
Creditors: amounts falling due within one year
7
(5,823)
(152,006)
Net current assets
134,516
218,248
Net assets
909,803
1,002,250
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
909,703
1,002,150
Total equity
909,803
1,002,250
For the financial year ended 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 9 October 2024 and are signed on its behalf by:
Mr R Freedman
Mr A Waisman
Director
Director
Company registration number 08091183 (England and Wales)
ALROY CONSULTING SERVICES LTD
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 29 February 2024
- 2 -
1
Accounting policies
Company information
Alroy Consulting Services Ltd ("the company") is a private company limited by shares, incorporated in England and Wales. Its registration number is 08091183. The registered office is Group House, 703 High Road, London, N12 0BT.
1.1
Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The following principle accounting policies have been applied:
1.2
Going concern
The financial statements have been prepared on a going concern basis.true
1.3
Revenue recognition
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 measures reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.
Rental income receivable by the company is recognised in accordance with the lease agreement.
1.4
Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulates impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
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 annual bases:
Freehold land and buildings
2%
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.
ALROY CONSULTING SERVICES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
For the year ended 29 February 2024
1
Accounting policies
(Continued)
- 3 -
1.5
Valuation of investments
Investments in unlisted company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the statement of income and retained earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.
1.6
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.7
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at transaction price less impairment.
Impairment of financial assets
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.
Classification of financial liabilities
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.
ALROY CONSULTING SERVICES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
For the year ended 29 February 2024
1
Accounting policies
(Continued)
- 4 -
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are recognised at transaction price.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised at transaction price.
1.8
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.9
Taxation
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.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
ALROY CONSULTING SERVICES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
For the year ended 29 February 2024
- 5 -
4
Tangible fixed assets
Land and buildings
£
Cost
At 1 March 2023 and 29 February 2024
435,000
Depreciation and impairment
At 1 March 2023
26,100
Depreciation charged in the year
8,700
At 29 February 2024
34,800
Carrying amount
At 29 February 2024
400,200
At 28 February 2023
408,900
5
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
375,087
375,102
Movements in fixed asset investments
Shares in subsidiaries and associates
£
Cost or valuation
At 1 March 2023
375,102
Additions
46
Disposals
(61)
At 29 February 2024
375,087
Carrying amount
At 29 February 2024
375,087
At 28 February 2023
375,102
ALROY CONSULTING SERVICES LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
For the year ended 29 February 2024
- 6 -
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
(1)
Amounts owed by group undertakings
10,000
Amounts owed by undertakings in which the company has a participating interest
16,000
Other debtors
4,525
Prepayments and accrued income
616
913
5,140
26,913
7
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
672
300
Amounts owed to group undertakings
140,600
Corporation tax
1,930
10,806
Other taxation and social security
1,436
Other creditors
1,785
300
5,823
152,006