Alltech Systems (UK) Ltd 05444218 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is the supply and installation of water filtration equipment, pumps and sewage systems Digita Accounts Production Advanced 6.30.9574.0 true true 05444218 2023-04-01 2024-03-31 05444218 2024-03-31 05444218 core:CurrentFinancialInstruments 2024-03-31 05444218 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 05444218 core:Goodwill 2024-03-31 05444218 core:FurnitureFittingsToolsEquipment 2024-03-31 05444218 core:MotorVehicles 2024-03-31 05444218 1 2024-03-31 05444218 2 2024-03-31 05444218 bus:SmallEntities 2023-04-01 2024-03-31 05444218 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 05444218 bus:FilletedAccounts 2023-04-01 2024-03-31 05444218 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 05444218 bus:RegisteredOffice 2023-04-01 2024-03-31 05444218 bus:CompanySecretary1 2023-04-01 2024-03-31 05444218 bus:Director1 2023-04-01 2024-03-31 05444218 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 05444218 core:Goodwill 2023-04-01 2024-03-31 05444218 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 05444218 core:MotorVehicles 2023-04-01 2024-03-31 05444218 core:PlantMachinery 2023-04-01 2024-03-31 05444218 countries:EnglandWales 2023-04-01 2024-03-31 05444218 1 2023-04-01 2024-03-31 05444218 2 2023-04-01 2024-03-31 05444218 2023-03-31 05444218 core:Goodwill 2023-03-31 05444218 core:FurnitureFittingsToolsEquipment 2023-03-31 05444218 core:MotorVehicles 2023-03-31 05444218 1 2023-03-31 05444218 2 2023-03-31 05444218 2022-04-01 2023-03-31 05444218 2023-03-31 05444218 core:CurrentFinancialInstruments 2023-03-31 05444218 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 05444218 core:Goodwill 2023-03-31 05444218 core:FurnitureFittingsToolsEquipment 2023-03-31 05444218 core:MotorVehicles 2023-03-31 05444218 1 2023-03-31 05444218 1 2022-04-01 2023-03-31 05444218 1 2022-03-31 iso4217:GBP xbrli:pure

Registration number: 05444218

Alltech Systems (UK) Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Alltech Systems (UK) Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

Alltech Systems (UK) Ltd

Company Information

Director

Mr Mark Richard Allum

Company secretary

Mrs Julie Allum

Registered office

18 Penvale Close
Barripper
Camborne
Cornwall
TR14 0QP

 

Alltech Systems (UK) Ltd

(Registration number: 05444218)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

5

3,900

7,800

Tangible assets

6

45,377

46,996

 

49,277

54,796

Current assets

 

Stocks

7

23,128

23,360

Debtors

8

130,923

191,913

Cash at bank and in hand

 

117,603

65,236

 

271,654

280,509

Creditors: Amounts falling due within one year

9

(112,494)

(120,210)

Net current assets

 

159,160

160,299

Total assets less current liabilities

 

208,437

215,095

Provisions for liabilities

(11,209)

(11,580)

Net assets

 

197,228

203,515

Capital and reserves

 

Called up share capital

2

2

Retained earnings

197,226

203,513

Shareholders' funds

 

197,228

203,515

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.

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 1 November 2024
 

.........................................
Mr Mark Richard Allum
Director

 

Alltech Systems (UK) Ltd

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 and Wales.

The address of its registered office is:
18 Penvale Close
Barripper
Camborne
Cornwall
TR14 0QP

These financial statements were authorised for issue by the director on 1 November 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.

Government grants

Government grants in relation to tangible fixed assets are credited to the profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to the profit and loss account.

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.

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.

 

Alltech Systems (UK) Ltd

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

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

Plant and Machinery

20 - 50% reducing balance

Motor Vehicles

25% reducing balance/straight line

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

10% straight line

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.

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.

 

Alltech Systems (UK) Ltd

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

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.

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. 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 3 (2023 - 3).

 

Alltech Systems (UK) Ltd

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

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

11,232

10,784

Amortisation expense

3,900

3,900

5

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 April 2023

60,000

60,000

At 31 March 2024

60,000

60,000

Amortisation

At 1 April 2023

52,200

52,200

Amortisation charge

3,900

3,900

At 31 March 2024

56,100

56,100

Carrying amount

At 31 March 2024

3,900

3,900

At 31 March 2023

7,800

7,800

 

Alltech Systems (UK) Ltd

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

6

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2023

23,310

57,178

80,488

Additions

-

26,156

26,156

Disposals

(259)

(26,332)

(26,591)

At 31 March 2024

23,051

57,002

80,053

Depreciation

At 1 April 2023

12,216

21,276

33,492

Charge for the year

2,256

8,976

11,232

Eliminated on disposal

-

(10,048)

(10,048)

At 31 March 2024

14,472

20,204

34,676

Carrying amount

At 31 March 2024

8,579

36,798

45,377

At 31 March 2023

11,094

35,902

46,996

7

Stocks

2024
£

2023
£

Raw materials and consumables

23,128

23,360

8

Debtors

Current

2024
£

2023
£

Trade debtors

54,349

136,067

Prepayments

8,510

7,176

Other debtors

68,064

48,670

 

130,923

191,913

9

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

65,800

68,412

Taxation and social security

19,561

24,705

Accruals and deferred income

2,860

2,850

Other creditors

24,273

24,243

112,494

120,210

 

Alltech Systems (UK) Ltd

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

10

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £8,665 (2023 - £14,137). This is a contract hire commitment.

11

Related party transactions

Transactions with the director

2024

At 1 April 2023
£

Advances to director
£

Repayments by director
£

At 31 March 2024
£

Interest free loan, repayable on demand

48,670

-

(5,606)

43,064

Interest free loan, repayable on demand

-

25,000

-

25,000

48,670

25,000

(5,606)

68,064

 

2023

At 1 April 2022
£

Repayments by director
£

At 31 March 2023
£

Interest free loan, repayable on demand

49,105

(435)

48,670

49,105

(435)

48,670