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Registration number: 03729888

Alderson Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

Alderson Limited

Contents

Company Information

1

Balance Sheet & Notes to the Financial Statements

2 to 9

 

Alderson Limited

Company Information

Director

T Carter

Registered office

Alderson House
Saltfleet Road
Theddlethorpe
Lincolnshire
LN12 1PH

 

Alderson Limited

(Registration number: 03729888)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

1,227,528

1,253,393

Current assets

 

Stocks

6

19,353

19,452

Debtors

7

2,067,276

1,528,334

Cash at bank and in hand

 

889,294

442,808

 

2,975,923

1,990,594

Creditors: Amounts falling due within one year

8

(970,720)

(763,767)

Net current assets

 

2,005,203

1,226,827

Total assets less current liabilities

 

3,232,731

2,480,220

Creditors: Amounts falling due after more than one year

8

(10,950)

(30,153)

Provisions for liabilities

(27,087)

(16,411)

Net assets

 

3,194,694

2,433,656

Capital and reserves

 

Called up share capital

101

101

Revaluation reserve

79,999

83,999

Retained earnings

3,114,594

2,349,556

Shareholders' funds

 

3,194,694

2,433,656

For the financial year ending 30 April 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 6 November 2024
 

.........................................
T Carter
Director

 

Alderson Limited

(Registration number: 03729888)
Balance Sheet as at 30 April 2024

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

The company is a private company limited by share capital incorporated in England and Wales and the company registration number is 03729888.

The address of its registered office is:
Alderson House
Saltfleet Road
Theddlethorpe
Lincolnshire
LN12 1PH

These financial statements cover the individual entity, Alderson Limited.

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 including Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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.

The financial statements are presented in sterling and are rounded to the nearest pound.

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 which become receivable as compensation for expenses or losses already incurred, or for the purpose of giving immediate financial support to the entity with no future related costs, are recognised as income in the period in which they become receivable.

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.

 

Alderson Limited

(Registration number: 03729888)
Balance Sheet as at 30 April 2024

Notes to the Unaudited Financial Statements for the Year Ended 30 April 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 income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the Company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the statement of financial position 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

Furniture and fittings

33% straight line and 20% reducing balance

Freehold property

2% straight line

Motor vehicles

25% reducing balance

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

5% 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, 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.

 

Alderson Limited

(Registration number: 03729888)
Balance Sheet as at 30 April 2024

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

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.

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.

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.

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 412 (2023 - 427).

 

Alderson Limited

(Registration number: 03729888)
Balance Sheet as at 30 April 2024

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 May 2023

50,000

50,000

At 30 April 2024

50,000

50,000

Amortisation

At 1 May 2023

50,000

50,000

At 30 April 2024

50,000

50,000

Carrying amount

At 30 April 2024

-

-

 

Alderson Limited

(Registration number: 03729888)
Balance Sheet as at 30 April 2024

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 May 2023

1,283,877

216,534

183,006

1,683,417

Additions

38,412

6,118

-

44,530

Disposals

-

-

(5,495)

(5,495)

At 30 April 2024

1,322,289

222,652

177,511

1,722,452

Depreciation

At 1 May 2023

200,431

130,147

99,445

430,023

Charge for the year

26,463

22,575

20,992

70,030

Eliminated on disposal

-

-

(5,129)

(5,129)

At 30 April 2024

226,894

152,722

115,308

494,924

Carrying amount

At 30 April 2024

1,095,395

69,930

62,203

1,227,528

At 30 April 2023

1,083,446

86,387

83,560

1,253,393

Included within the net book value of land and buildings above is £1,095,395 (2023 - £1,083,446) in respect of freehold land and buildings.
 

6

Stocks

2024
£

2023
£

Finished goods and goods for resale

19,353

19,452

7

Debtors

Current

2024
£

2023
£

Trade debtors

1,530,456

1,425,019

Prepayments

398,068

82,189

Other debtors

138,752

21,126

 

2,067,276

1,528,334

 

Alderson Limited

(Registration number: 03729888)
Balance Sheet as at 30 April 2024

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

21,710

47,464

Trade creditors

 

82,500

34,842

Taxation and social security

 

318,486

116,236

Accruals and deferred income

 

102,394

66,807

Other creditors

 

445,630

498,418

 

970,720

763,767

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £21,710 (2023 - £34,650).

9

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Bank borrowings

10,950

30,153

2024
£

2023
£

Current loans and borrowings

Bank borrowings

21,710

34,650

Other borrowings

-

12,814

21,710

47,464

10

Related party transactions

Transactions with the Director

2024

At 1 May 2023
£

Advances to Director
£

Repayments by Director
£

At 30 April 2024
£

T Carter

No interest is charged, instead a BIK is incurred and P11d produced.

12,814

(133,003)

2,563

(117,626)

         
       

 

 

Alderson Limited

(Registration number: 03729888)
Balance Sheet as at 30 April 2024

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

2023

At 1 May 2022
£

Advances to Director
£

Repayments by Director
£

At 30 April 2023
£

T Carter

No interest is charged, instead a BIK is incurred and P11d produced.

76,395

(65,581)

2,000

12,814