2023-05-012024-04-302024-04-30false01407378Alan Tuer 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Alan Tuer Limited

Registered Number
01407378
(England and Wales)

Unaudited Financial Statements for the Year ended
30 April 2024

Alan Tuer Limited
Company Information
for the year from 1 May 2023 to 30 April 2024

Directors

FOSTER, Michael Thomas
FOSTER, Stephanie Jane

Company Secretary

FOSTER, Stephanie Jane

Registered Address

Northview
Blackford
Carlisle
CA6 4EA

Registered Number

01407378 (England and Wales)
Alan Tuer Limited
Statement of Financial Position
30 April 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets33,439,5252,985,183
Investment property4117,001117,001
3,556,5263,102,184
Current assets
Stocks5350,000175,000
Debtors676,046710,902
Cash at bank and on hand-53,595
1,026,046939,497
Creditors amounts falling due within one year6(1,303,610)(1,207,754)
Net current assets (liabilities)(277,564)(268,257)
Total assets less current liabilities3,278,9622,833,927
Creditors amounts falling due after one year7(231,916)(163,284)
Provisions for liabilities9(660,568)(532,194)
Net assets2,386,4782,138,449
Capital and reserves
Called up share capital50,00050,000
Other reserves20,65520,655
Profit and loss account2,315,8232,067,794
Shareholders' funds2,386,4782,138,449
The financial statements were approved and authorised for issue by the Board of Directors on 2 October 2024, and are signed on its behalf by:
FOSTER, Michael Thomas
Director
FOSTER, Stephanie Jane
Director

Registered Company No. 01407378
Alan Tuer Limited
Notes to the Financial Statements
for the year ended 30 April 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Basis of preparation
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
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/or 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.
Employee benefits
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in accruals in the Statement of financial position. The assets of the plan are held separately from the company in independently administered funds.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
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.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Income. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)Straight line (years)
Land and buildings-20
Plant and machinery-6.67
Vehicles25-
Office Equipment-6.67
Investment property
Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate. These values are adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Income Statement.
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease. Rentals paid under operating leases are charged to the profit or loss on a straight line basis over the lease term.
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). At each date of Statement of Financial Position, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete the sale. The impairment loss is recognised immediately in the Income Statement
Trade and other 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.
Financial instruments
The Company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
2.Average number of employees

20242023
Average number of employees during the year1514
3.Tangible fixed assets

Land & buildings

Plant & machinery

Vehicles

Office Equipment

Total

£££££
Cost or valuation
At 01 May 23161,3885,799,468304,11110,0406,275,007
Additions36,6501,272,076--1,308,726
Disposals-(72,800)--(72,800)
At 30 April 24198,0386,998,744304,11110,0407,510,933
Depreciation and impairment
At 01 May 2317,1253,052,779210,0359,8853,289,824
Charge for year2,048785,05223,519155810,774
On disposals-(29,190)--(29,190)
At 30 April 2419,1733,808,641233,55410,0404,071,408
Net book value
At 30 April 24178,8653,190,10370,557-3,439,525
At 30 April 23144,2632,746,68994,0761552,985,183
4.Investment property
The 2023 valuations were made by the directors, on an open market value for existing use basis. Had the investment properties been measured at historical cost the amount would have been £91,501.

£
Fair value at 01 May 23117,001
At 30 April 24117,001
5.Stocks
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). At each date of Statement of financial position, inventories are assessed for impairment. If inventory is impaired, the carrying amount is reduced to its selling price less costs to completed the sale. The impairment loss is recognised immediately in the Statement of Earnings.

2024

2023

££
Raw materials and consumables350,000175,000
Total350,000175,000
6.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables365,402419,267
Bank borrowings and overdrafts79,05210,000
Taxation and social security11,24628,722
Finance lease and HP contracts692,228630,227
Other creditors146,367103,854
Accrued liabilities and deferred income9,31515,684
Total1,303,6101,207,754
Obligations under hire purchase contracts are secured against the assets to which they relate.
7.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts10,83320,833
Other creditors221,083142,451
Total231,916163,284
Obligations under hire purchase contracts are secured against the assets to which they relate.
8.Obligations under finance leases

2024

2023

££
Finance lease and HP contracts221,082142,450
9.Provisions for liabilities
The provision for deferred tax is made up of a liability of £803,607 in respect of accelerated capital allowances and an asset of £143,039 in respect of losses.

2024

2023

££
Net deferred tax liability (asset)660,568532,194
Total660,568532,194
10.Pension commitments
The pension cost charge represents contributions payable by the company to the fund and amounted to £11,056 (2023: £9,207). Contributions totalling £2,002 (2023: £1,860) were payable to the fund at the reporting date and are included in creditors.