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COMPANY REGISTRATION NUMBER: 02725915
Alsim System Building Limited
Filleted Unaudited Financial Statements
For the year ended
30 November 2023
Alsim System Building Limited
Statement of Financial Position
30 November 2023
2023
2022
Note
£
£
£
£
Fixed assets
Tangible assets
5
85,533
85,792
Current assets
Stocks
187,331
376,074
Debtors
6
425,612
2,144,256
Cash at bank and in hand
137,394
155,798
----------
-------------
750,337
2,676,128
Creditors: amounts falling due within one year
7
662,817
1,868,901
----------
-------------
Net current assets
87,520
807,227
----------
----------
Total assets less current liabilities
173,053
893,019
Provisions
Taxation including deferred tax
12,077
----------
----------
Net assets
173,053
880,942
----------
----------
Capital and reserves
Called up share capital
125,000
125,000
Profit and loss account
48,053
755,942
----------
----------
Shareholders funds
173,053
880,942
----------
----------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Alsim System Building Limited
Statement of Financial Position (continued)
30 November 2023
These financial statements were approved by the board of directors and authorised for issue on 21 June 2024 , and are signed on behalf of the board by:
S D Jackson
Director
Company registration number: 02725915
Alsim System Building Limited
Notes to the Financial Statements
Year ended 30 November 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Stockholm Road, Hull, East Riding of Yorkshire, HU7 0XW.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
(a) Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
(b) Going concern
The UK economy has recently been impacted by rising inflation, interest rates and energy costs, exacerbated by the war in Ukraine. All these matters have impacted the company's trading results to a greater or lesser extent. At the date of signing these financial statements, the directors have considered the effect of these matters on the company with the information available to it, and do not believe that it will affect the ability of the company to continue to trade for the foreseeable future. On this basis, the directors have prepared these financial statements on a going concern basis.
(c) Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, usually on despatch of the goods, the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
(d) Current & deferred tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively . Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted at the reporting date . Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
(e) Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
(f) Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Buildings
-
10% straight line
Plant and Machinery
-
10% to 20% straight line
(g) Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell.
(h) Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
(i) Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 52 (2022: 57 ).
5. Tangible assets
Land and buildings
Plant and machinery
Total
£
£
£
Cost
At 1 December 2022
167,854
443,630
611,484
Additions
6,915
6,915
----------
----------
----------
At 30 November 2023
174,769
443,630
618,399
----------
----------
----------
Depreciation
At 1 December 2022
146,011
379,681
525,692
Charge for the year
415
6,759
7,174
----------
----------
----------
At 30 November 2023
146,426
386,440
532,866
----------
----------
----------
Carrying amount
At 30 November 2023
28,343
57,190
85,533
----------
----------
----------
At 30 November 2022
21,843
63,949
85,792
----------
----------
----------
6. Debtors
2023
2022
£
£
Trade debtors
377,380
737,732
Amounts owed by group undertakings
1,395,042
Other debtors
48,232
11,482
----------
-------------
425,612
2,144,256
----------
-------------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
425,252
1,485,435
Amounts owed to group undertakings
52,204
Corporation tax
61,596
Social security and other taxes
126,344
185,187
Other creditors
59,017
136,683
----------
-------------
662,817
1,868,901
----------
-------------
8. Related party transactions
The company has taken advantage of the exemptions provided in FRS 102 from reporting transactions between wholly owned members of the group.
9. Controlling party
For the entire year, the parent company was Centaurus Group Limited , a company registered in England and Wales.