Registered number
08395613
ALTTA Group Limited
Filleted Accounts
29 February 2024
ALTTA Group Limited
Registered number: 08395613
Balance Sheet
as at 29 February 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 9,893 13,515
9,893 13,515
Current assets
Debtors 4 245,947 226,654
Cash at bank and in hand 3,303 36,018
249,250 262,672
Creditors: amounts falling due within one year 5 (137,795) (189,623)
Net current assets 111,455 73,049
Total assets less current liabilities 121,348 86,564
Creditors: amounts falling due after more than one year 6 (105,134) (68,826)
Provisions for liabilities (1,216) (1,758)
Net assets 14,998 15,980
Capital and reserves
Called up share capital 4 4
Share premium 9,999 9,999
Profit and loss account 4,995 5,977
Shareholders' funds 14,998 15,980
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Colin Frost
Director
Approved by the board on 30 September 2024
ALTTA Group Limited
Notes to the Accounts
for the year ended 29 February 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold improvements over the lease term
Plant and machinery 3 years reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Finance costs
Finance costs are charged to the profit and loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are intially recognised as a reduction in the proceeds of the associated capital instrument.
Equity dividends
Equity divdiends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
Interest income
Interest income is recognised in the profit and loss using the effective interest method.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 9 9
3 Tangible fixed assets
Leasehold improvements Plant and machinery Total
£ £ £
Cost
At 1 March 2023 29,612 56,284 85,896
Additions 1,277 1,277
Disposals (690) (690)
At 29 February 2024 29,612 56,871 86,483
Depreciation
At 1 March 2023 29,612 42,769 72,381
Charge for the year 4,880 4,880
On disposals (671) (671)
At 29 February 2024 29,612 46,978 76,590
Net book value
At 29 February 2024 - 9,893 9,893
At 28 February 2023 - 13,515 13,515
4 Debtors 2024 2023
£ £
Trade debtors 78,709 99,244
Other debtors 167,238 127,410
245,947 226,654
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 47,083 29,512
Trade creditors 13,249 9,864
Taxation and social security costs 55,976 82,292
Other creditors 21,487 67,955
137,795 189,623
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 105,134 68,826
105,134 68,826
7 Loans to directors
During the year loans made to the director 1 totalled £10,470 (2023: £5,225) and repayments
from the director totalled £1,055 (2023: £2,689). The amount owed to the company at the end
of the year totalled £33,196 (2023: £23,203). This amount is included within other debtors. Interest
of £578 (2023: £400) has been charged on this loan.
During the year loans made to the director 2 totalled £570 (2023: £5,225) and repayments
from the director totalled £5,217 (2023: £2,689). The amount owed to the company at the end
of the year totalled £18,777 (2023: £22,970). This amount is included within other debtors. Interest
of £454 (2023: £395) has been charged on this loan.
During the year loans made to the director 3 totalled £10,470 (2023: £5,225) and repayments
from the director totalled £1,055 (2023: £2,689). The amount owed to the company at the end
of the year totalled £32,949 (2023: £22,962). This amount is included within other debtors. Interest
of £572 (2023: £395) has been charged on this loan.
During the year loans made to the director 4 totalled £10,470 (2023: £5,225) and repayments
from the director totalled £1,055 (2023: £2,689). The amount owed to the company at the end
of the year totalled £31,984 (2023: £22,018). This amount is included within other debtors. Interest
of £551 (2023: £376) has been charged on this loan.
8 Other information
ALTTA Group Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit 35 Stapledon Road
Orton Southgate
Peterborough
PE2 6TD
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