3 false false false false false false false false false false true false false false false false false No description of principal activity 2022-12-26 Sage Accounts Production Advanced 2023 - FRS102_2023 779,547 779,547 7,168,123 7,168,115 8 8 xbrli:pure xbrli:shares iso4217:GBP 09123294 2022-12-26 2023-12-31 09123294 2023-12-31 09123294 2022-12-25 09123294 2021-12-27 2022-12-25 09123294 2022-12-25 09123294 2021-12-26 09123294 core:FurnitureFittings 2022-12-26 2023-12-31 09123294 core:MotorVehicles 2022-12-26 2023-12-31 09123294 bus:OrdinaryShareClass1 2022-12-26 2023-12-31 09123294 bus:Director2 2022-12-26 2023-12-31 09123294 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-12-31 09123294 core:FurnitureFittings 2022-12-25 09123294 core:MotorVehicles 2022-12-25 09123294 core:FurnitureFittings 2023-12-31 09123294 core:WithinOneYear 2023-12-31 09123294 core:WithinOneYear 2022-12-25 09123294 core:ShareCapital 2023-12-31 09123294 core:ShareCapital 2022-12-25 09123294 core:SharePremium 2023-12-31 09123294 core:SharePremium 2022-12-25 09123294 core:RetainedEarningsAccumulatedLosses 2023-12-31 09123294 core:RetainedEarningsAccumulatedLosses 2022-12-25 09123294 core:CostValuation core:Non-currentFinancialInstruments 2023-12-31 09123294 core:Non-currentFinancialInstruments core:ProvisionsForImpairmentInvestments 2023-12-31 09123294 core:Non-currentFinancialInstruments 2023-12-31 09123294 core:Non-currentFinancialInstruments 2022-12-25 09123294 core:FurnitureFittings 2022-12-25 09123294 core:MotorVehicles 2022-12-25 09123294 bus:SmallEntities 2022-12-26 2023-12-31 09123294 bus:AuditExempt-NoAccountantsReport 2022-12-26 2023-12-31 09123294 bus:SmallCompaniesRegimeForAccounts 2022-12-26 2023-12-31 09123294 bus:PrivateLimitedCompanyLtd 2022-12-26 2023-12-31 09123294 bus:FullAccounts 2022-12-26 2023-12-31 09123294 bus:OrdinaryShareClass1 2023-12-31 09123294 bus:OrdinaryShareClass1 2022-12-25 09123294 core:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-12-26 2023-12-31
COMPANY REGISTRATION NUMBER: 09123294
A L VENTURES LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED
31 December 2023
A L VENTURES LIMITED
BALANCE SHEET
31 December 2023
31 Dec 23
25 Dec 22
Note
£
£
£
£
Fixed assets
Tangible assets
6
6,406
12,792
Investments
7
8
8
------
-------
6,414
12,800
Current assets
Stocks
8
89,045
106,475
Debtors
9
12,042
115,054
Cash at bank and in hand
3,711
4,707
--------
--------
104,798
226,236
Creditors: amounts falling due within one year
10
( 8,870,752)
( 9,027,796)
-----------
-----------
Net current liabilities
( 8,765,954)
( 8,801,560)
-----------
-----------
Total assets less current liabilities
( 8,759,540)
( 8,788,760)
-----------
-----------
Net liabilities
( 8,759,540)
( 8,788,760)
-----------
-----------
Capital and reserves
Called up share capital
11
10,676
10,676
Share premium account
572,365
572,365
Profit and loss account
( 9,342,581)
( 9,371,801)
-----------
-----------
Shareholders deficit
( 8,759,540)
( 8,788,760)
-----------
-----------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the profit and loss account has not been delivered.
For the period ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 8 October 2024 , and are signed on behalf of the board by:
S S Grewal
Director
Company registration number: 09123294
A L VENTURES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
PERIOD FROM 26 DECEMBER 2022 TO 31 DECEMBER 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 12 North Bar, Banbury, OX16 0TB.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity. Monetary amounts in these financial statements are rounded to the nearest pound. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
Going concern
After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future, notwithstanding the net current liabilities of £8,759,540 (2022: £8,801,560). Companies controlled by some of the shareholders have confirmed their intention to financially support the company for at least 12 months from the date of approval of these financial statements. Included in creditors due within one year are amounts of of £8,781,868 (2022: £8,781,868) due to these related companies. As a consequence, the directors believe that the company is well placed to manage its business risks and meet liabilities as they fall due. For this reason, they continue to adopt the going concern basis in preparing accounts.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Franchise Fees
-
6.6% over the term of the franchise
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
20% straight line
Motor vehicles
-
25% reducing balance
Investments in subsidiaries
Investments in subsidiaries are accounted for at cost less accumulated impairment losses.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
Basic financial assets, which include trade and other receivables and cash and bank balances, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method. At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss. Basic financial liabilities, which include trade and other payables, and loans from fellow group companies and other related entities, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year of less. If not, then they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. Employee numbers
The average number of persons employed by the company during the period amounted to 3 (2022: 3 ).
5. Intangible assets
Development costs
£
Cost
At 26 December 2022 and 31 December 2023
779,547
--------
Amortisation
At 26 December 2022 and 31 December 2023
779,547
--------
Carrying amount
At 31 December 2023
--------
At 25 December 2022
--------
6. Tangible assets
Fixtures and fittings
Motor vehicles
Total
£
£
£
Cost
At 26 December 2022
18,361
22,770
41,131
Additions
2,839
2,839
Disposals
( 22,770)
( 22,770)
-------
-------
-------
At 31 December 2023
21,200
21,200
-------
-------
-------
Depreciation
At 26 December 2022
12,789
15,550
28,339
Charge for the period
2,005
1,655
3,660
Disposals
( 17,205)
( 17,205)
-------
-------
-------
At 31 December 2023
14,794
14,794
-------
-------
-------
Carrying amount
At 31 December 2023
6,406
6,406
-------
-------
-------
At 25 December 2022
5,572
7,220
12,792
-------
-------
-------
7. Investments
Shares in group undertakings
£
Cost
At 26 December 2022 and 31 December 2023
7,168,123
-----------
Impairment
At 26 December 2022 and 31 December 2023
7,168,115
-----------
Carrying amount
At 31 December 2023
8
-----------
At 25 December 2022
8
-----------
8. Stocks
31 Dec 23
25 Dec 22
£
£
Raw materials and consumables
89,045
106,475
-------
--------
9. Debtors
31 Dec 23
25 Dec 22
£
£
Trade debtors
11,508
16,329
Amounts owed by group undertakings
97,606
Other debtors
534
1,119
-------
--------
12,042
115,054
-------
--------
10. Creditors: amounts falling due within one year
31 Dec 23
25 Dec 22
£
£
Trade creditors
36,798
44,790
Amounts owed to group undertakings
25,001
175,383
Social security and other taxes
5,207
958
Amounts owed to other related entities
8,781,868
8,781,868
Other creditors
21,878
24,797
-----------
-----------
8,870,752
9,027,796
-----------
-----------
11. Called up share capital
Issued, called up and fully paid
31 Dec 23
25 Dec 22
No.
£
No.
£
Ordinary shares of £ 0.10 each
106,758
10,676
106,758
10,676
--------
-------
--------
-------