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Registration number: 02502205

Alisons Limited

Unaudited Filleted Financial Statements

for the Year Ended 29 February 2024

 

Alisons Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Alisons Limited

Company Information

Director

M Javed

Company secretary

O N Javed

Registered office

2-6 Lumley Road
Skegness
Lincolnshire
PE25 3NG

 

Alisons Limited

(Registration number: 02502205)
Balance Sheet as at 29 February 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

651,541

658,413

Investment property

5

1,528,458

1,291,200

 

2,179,999

1,949,613

Current assets

 

Stocks

6

513,880

469,105

Debtors

7

211,634

140,761

Cash at bank and in hand

 

23,174

27,740

 

748,688

637,606

Creditors: Amounts falling due within one year

8

(891,860)

(742,745)

Net current liabilities

 

(143,172)

(105,139)

Total assets less current liabilities

 

2,036,827

1,844,474

Creditors: Amounts falling due after more than one year

8

(151,572)

(225,325)

Provisions for liabilities

(3,130)

(363)

Net assets

 

1,882,125

1,618,786

Capital and reserves

 

Called up share capital

9

1,800

1,800

Capital redemption reserve

1,200

1,200

Revaluation reserve

299,911

102,419

Retained earnings

1,579,214

1,513,367

Shareholders' funds

 

1,882,125

1,618,786

 

Alisons Limited

(Registration number: 02502205)
Balance Sheet as at 29 February 2024

For the financial year ending 29 February 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 20 November 2024
 

.........................................
M Javed
Director

 

Alisons Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 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:
2-6 Lumley Road
Skegness
Lincolnshire
PE25 3NG
United Kingdom

These financial statements cover the individual entity, Alisons Limited.

These financial statements were authorised for issue by the director on 20 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.

The financial statements have been prepared in sterling and are rounded to the nearest pound.

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.

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.

 

Alisons Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

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

Freehold property

2% straight line

Improvements to leasehold property

15% straight line

Improvements to freehold property

20% straight line

Fixtures and fittings

20% straight line

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in the revaluation reserve.

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.

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.

 

Alisons Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

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.

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.

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 19 (2023 - 18).

 

Alisons Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 March 2023

1,243,175

245,476

1,488,651

Additions

15,995

-

15,995

Disposals

(30,223)

-

(30,223)

At 29 February 2024

1,228,947

245,476

1,474,423

Depreciation

At 1 March 2023

588,531

241,707

830,238

Charge for the year

21,177

1,690

22,867

Eliminated on disposal

(30,223)

-

(30,223)

At 29 February 2024

579,485

243,397

822,882

Carrying amount

At 29 February 2024

649,462

2,079

651,541

At 28 February 2023

654,644

3,769

658,413

Included within the net book value of land and buildings above is £649,462 (2023 - £654,644) in respect of freehold land and buildings and £Nil (2023 - £Nil) in respect of long leasehold land and buildings.
 

The director is looking to seek professional valuations on the freehold property once the works for the Heritage Grant have been fully expensed.

5

Investment properties

2024
£

At 1 March

1,291,200

Fair value adjustments

237,258

At 29 February

1,528,458

The director has deemed that the fair value of the investment properties remains at the value brought forward.

There has been no valuation of investment property by an independent valuer. However the director is seeking to obtain professional valuations on the investment properties once the work for the Heritage Grant has been fully expensed.

6

Stocks

2024
£

2023
£

Finished goods and goods for resale

513,880

469,105

 

Alisons Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

7

Debtors

Current

2024
£

2023
£

Trade debtors

7,851

9,593

Prepayments

10,673

64,889

Other debtors

193,110

66,279

 

211,634

140,761

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Bank loans and overdrafts

10

199,706

121,484

Trade creditors

 

590,873

482,753

Taxation and social security

 

6,676

7,971

Accruals and deferred income

 

8,060

7,876

Other creditors

 

86,545

122,661

 

891,860

742,745


 

Creditors include bank loans and overdrafts which are secured of £199,706 (2023 - £121,484).

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

10

151,572

225,325

Creditors include bank loans and overdrafts which are secured of £151,572 (2023 - £225,325).

9

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £1 each

1,800

1,800

1,800

1,800

         
 

Alisons Limited

Notes to the Unaudited Financial Statements for the Year Ended 29 February 2024

10

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Bank borrowings

151,572

225,325

2024
£

2023
£

Current loans and borrowings

Bank borrowings

85,000

85,000

Bank overdrafts

114,706

36,484

199,706

121,484

11

Related party transactions

Transactions with the Director

2024

At 1 March 2023
£

Advances to Director
£

Repayments by Director
£

At 29 February 2024
£

M Javed

Interest free director's loan account

(46,770)

(79,435)

87,136

(39,069)

         
       

 

2023

At 1 March 2022
£

Advances to Director
£

Repayments by Director
£

At 28 February 2023
£

M Javed

Interest free director's loan account

12,711

(62,966)

3,485

(46,770)