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Registration number: 04643770

Alan Sproston Limited

Unaudited Financial Statements

for the Year Ended 31 March 2024

 

Alan Sproston Limited

Contents

Statement of Financial Position

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

Alan Sproston Limited

(Registration number: 04643770)
Statement of Financial Position as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

127,807

155,766

Current assets

 

Stocks

5

170,212

181,088

Debtors

6

69,520

59,709

Cash at bank and in hand

 

300,723

186,605

 

540,455

427,402

Creditors: Amounts falling due within one year

7

(241,775)

(127,987)

Net current assets

 

298,680

299,415

Total assets less current liabilities

 

426,487

455,181

Provisions for liabilities

(31,392)

(29,960)

Net assets

 

395,095

425,221

Capital and reserves

 

Called up share capital

200

200

Retained earnings

394,895

425,021

Shareholders' funds

 

395,095

425,221

 

Alan Sproston Limited

(Registration number: 04643770)
Statement of Financial Position as at 31 March 2024

For the financial year ending 31 March 2024 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their 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 directors have not delivered to the registrar a copy of the Income Statement.

Approved and authorised by the Board on 3 December 2024 and signed on its behalf by:
 

.........................................
Alan Sproston
Director

   
     
 

Alan Sproston Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Badgerwood
Dobinetts Lane
Baguley
Manchester
Lancashire
M23 9NB
United Kingdom

These financial statements were authorised for issue by the Board on 3 December 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.

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.

 

Alan Sproston Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

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

Cabins

20% reducing balance

Plant and machinery

20% reducing balance and 25% straight line

Fixtures and fittings

20% reducing balance

Motor vehicles

25% reducing balance

Computer equipment

33% 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.

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.

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.

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.

 

Alan Sproston Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

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.

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as 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. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the income statement.
 

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 6 (2023 - 7).

 

Alan Sproston Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Tangible assets

Cabins
£

Machinery, fittings and equipment
£

Motor vehicles
  £

Total
£

Cost or valuation

At 1 April 2023

41,792

133,961

232,338

408,091

Additions

-

9,249

-

9,249

Disposals

-

-

(8,150)

(8,150)

At 31 March 2024

41,792

143,210

224,188

409,190

Depreciation

At 1 April 2023

5,919

91,519

154,887

252,325

Charge for the year

7,174

10,478

19,298

36,950

Eliminated on disposal

-

-

(7,892)

(7,892)

At 31 March 2024

13,093

101,997

166,293

281,383

Carrying amount

At 31 March 2024

28,699

41,213

57,895

127,807

At 31 March 2023

35,873

42,442

77,451

155,766

5

Stocks

2024
£

2023
£

Other inventories

170,212

181,088

6

Debtors

Current

2024
£

2023
£

Trade debtors

41,863

37,964

Prepayments

19,435

10,036

Other debtors

8,222

11,709

 

69,520

59,709

 

Alan Sproston Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

191,617

87,372

Taxation and social security

40,550

26,156

Other creditors

9,608

14,459

241,775

127,987