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Registration number: 09422817

Aller Engineering (South West) Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2024

 

Aller Engineering (South West) Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Aller Engineering (South West) Limited

Company Information

Director

Mr H R Moss

Registered office

Unit 1, Chantry Farm
Beer Road
Aller
Langport
Somerset
TA10 0RA

Bankers

Barclays Bank
Leicester
LE87 2BB

Accountants

Mitchams Chartered Accountants
1 Cornhill
Ilminster
Somerset
TA19 0AD

 

Aller Engineering (South West) Limited

(Registration number: 09422817)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

664,428

447,319

Current assets

 

Stocks

6

21,000

16,000

Debtors

7

258,985

269,982

Cash at bank and in hand

 

294,730

269,735

 

574,715

555,717

Creditors: Amounts falling due within one year

8

(449,422)

(345,001)

Net current assets

 

125,293

210,716

Total assets less current liabilities

 

789,721

658,035

Creditors: Amounts falling due after more than one year

8

(75,000)

(90,244)

Provisions for liabilities

(43,014)

(48,617)

Net assets

 

671,707

519,174

Capital and reserves

 

Called up share capital

100

100

Retained earnings

671,607

519,074

Shareholders' funds

 

671,707

519,174

For the financial year ending 31 March 2024 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.

 

Aller Engineering (South West) Limited

(Registration number: 09422817)
Balance Sheet as at 31 March 2024

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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 10 September 2024
 

.........................................
Mr H R Moss
Director

 

Aller Engineering (South West) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Unit 1, Chantry Farm
Beer Road
Aller
Langport
Somerset
TA10 0RA

These financial statements were authorised for issue by the director on 10 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.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred 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.

 

Aller Engineering (South West) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

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 between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Freehold land and buildings

Not depreciated

Furniture, fittings and equipment

25% Reducing balance basis

Motor vehcles

25% Reducing balance basis

Plant and machinery

20% Reducing balance basis

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

Written off over 5 years

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.

 

Aller Engineering (South West) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade 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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors 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 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 are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Aller Engineering (South West) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

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

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 9 (2023 - 8).

 

Aller Engineering (South West) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 April 2023

5,000

5,000

At 31 March 2024

5,000

5,000

Amortisation

At 1 April 2023

5,000

5,000

At 31 March 2024

5,000

5,000

Carrying amount

At 31 March 2024

-

-

At 31 March 2023

-

-

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Plant and machinery
£

Total
£

Cost or valuation

At 1 April 2023

252,851

7,063

26,304

373,133

659,351

Additions

239,518

2,718

-

18,218

260,454

At 31 March 2024

492,369

9,781

26,304

391,351

919,805

Depreciation

At 1 April 2023

-

4,491

18,729

188,812

212,032

Charge for the year

-

1,322

1,515

40,508

43,345

At 31 March 2024

-

5,813

20,244

229,320

255,377

Carrying amount

At 31 March 2024

492,369

3,968

6,060

162,031

664,428

At 31 March 2023

252,851

2,572

7,575

184,321

447,319

Included within the net book value of land and buildings above is £492,369 (2023 - £252,851) in respect of freehold land and buildings.
 

 

Aller Engineering (South West) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

6

Stocks

2024
£

2023
£

Work in progress

7,000

7,000

Other inventories

14,000

9,000

21,000

16,000

7

Debtors

Current

2024
£

2023
£

Trade debtors

188,787

258,232

Prepayments

70,198

5,687

Other debtors

-

6,063

 

258,985

269,982

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

136,109

36,585

Trade creditors

 

67,276

70,305

Taxation and social security

 

73,085

33,066

Accruals and deferred income

 

2,300

2,300

Other creditors

 

170,652

202,745

 

449,422

345,001

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

75,000

90,244

Creditors include unsecured debenture loans of £75,000 (2022 - £75,000). These loans are not repayable by instalments and are due after five years.

 

Aller Engineering (South West) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Hire purchase contracts

-

15,244

Unsecured debentures

75,000

75,000

75,000

90,244

Current loans and borrowings

2024
£

2023
£

Bank borrowings

120,865

-

Hire purchase contracts

15,244

36,585

136,109

36,585

10

Related party transactions

Summary of transactions with other related parties

Mr R & Mrs D Moss
(Parents of Director)

 A loan balance of £75,000 was owed to Mr and Mrs Moss throughout the period. No interest was charged on this loan.