REGISTERED NUMBER: |
Financial Statements |
For The Period 28 November 2022 to 30 November 2023 |
for |
Alweld Limited |
REGISTERED NUMBER: |
Financial Statements |
For The Period 28 November 2022 to 30 November 2023 |
for |
Alweld Limited |
Alweld Limited (Registered number: 05995062) |
Contents of the Financial Statements |
For The Period 28 November 2022 to 30 November 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Alweld Limited |
Company Information |
For The Period 28 November 2022 to 30 November 2023 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
116 Duke Street |
Liverpool |
Merseyside |
L1 5JW |
Alweld Limited (Registered number: 05995062) |
Balance Sheet |
30 November 2023 |
30.11.23 | 27.11.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Stocks |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
Alweld Limited (Registered number: 05995062) |
Balance Sheet - continued |
30 November 2023 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Alweld Limited (Registered number: 05995062) |
Notes to the Financial Statements |
For The Period 28 November 2022 to 30 November 2023 |
1. | STATUTORY INFORMATION |
Alweld Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Despite the net current liabilities position at the year end the financial statements have been prepared on a going concern basis as the company has the continued support of the directors. |
Significant judgements and estimates |
There are no judgements (apart from those involving estimates) that have had a significant effect on amounts recognised in the financial statements. |
Turnover |
Turnover is measured at the fair value of the consideration received for the sale of industrial equipment and machine tools excluding value added tax. Turnover is accounted for in the period to which it relates. |
Goodwill |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
Tangible fixed assets |
Plant and machinery etc | - |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Financial instruments |
Other loans are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method. |
Directors loans, trade debtors and trade creditors are measured at the undiscounted amount of the cash or other consideration expected to be paid or received. |
Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit and loss. |
Alweld Limited (Registered number: 05995062) |
Notes to the Financial Statements - continued |
For The Period 28 November 2022 to 30 November 2023 |
2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference. |
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. |
Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 28 November 2022 |
and 30 November 2023 |
AMORTISATION |
At 28 November 2022 |
and 30 November 2023 |
NET BOOK VALUE |
At 30 November 2023 |
At 27 November 2022 |
Alweld Limited (Registered number: 05995062) |
Notes to the Financial Statements - continued |
For The Period 28 November 2022 to 30 November 2023 |
5. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 28 November 2022 |
Additions |
At 30 November 2023 |
DEPRECIATION |
At 28 November 2022 |
Charge for period |
At 30 November 2023 |
NET BOOK VALUE |
At 30 November 2023 |
At 27 November 2022 |
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
Plant and |
machinery |
etc |
£ |
COST |
At 28 November 2022 |
and 30 November 2023 |
DEPRECIATION |
At 28 November 2022 |
Charge for period |
At 30 November 2023 |
NET BOOK VALUE |
At 30 November 2023 |
At 27 November 2022 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.11.23 | 27.11.22 |
£ | £ |
Trade debtors |
Other debtors |
Alweld Limited (Registered number: 05995062) |
Notes to the Financial Statements - continued |
For The Period 28 November 2022 to 30 November 2023 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30.11.23 | 27.11.22 |
£ | £ |
Bank loans and overdrafts |
Hire purchase contracts |
Trade creditors |
Taxation and social security |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
30.11.23 | 27.11.22 |
£ | £ |
Bank loans |
Hire purchase contracts |
9. | SECURED DEBTS |
The following secured debts are included within creditors: |
30.11.23 | 27.11.22 |
£ | £ |
Hire purchase contracts | 13,661 | 17,225 |
Other creditors | - | 384,399 |
Bank loans | - | 11,000 |
10. | TRANSACTIONS WITH DIRECTORS |
D Allen, the company director, operates a current account with the company to which transactions of a private nature are charged. Included in other debtors as at 30th November 2023 is £121,811 (2022 £109,393) owing from D Allen. Interest was charged on this loan at rates of 2% and 2.25%. |