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Company No: 15294175 (England and Wales)

ALDERMAN ENGINEERING HOLDINGS LIMITED

Unaudited Financial Statements
For the financial period from 20 November 2023 to 31 May 2024
Pages for filing with the registrar

ALDERMAN ENGINEERING HOLDINGS LIMITED

Unaudited Financial Statements

For the financial period from 20 November 2023 to 31 May 2024

Contents

ALDERMAN ENGINEERING HOLDINGS LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 May 2024
ALDERMAN ENGINEERING HOLDINGS LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 May 2024
Note 31.05.2024
£
Fixed assets
Investment property 3 1,265,250
Investments 4 100
1,265,350
Current assets
Cash at bank and in hand 8,000
8,000
Creditors: amounts falling due within one year 5 ( 53,250)
Net current liabilities (45,250)
Total assets less current liabilities 1,220,100
Creditors: amounts falling due after more than one year 6 ( 1,215,000)
Net assets 5,100
Capital and reserves
Called-up share capital 7 100
Profit and loss account 5,000
Total shareholders' funds 5,100

For the financial period ending 31 May 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 financial statements of Alderman Engineering Holdings Limited (registered number: 15294175) were approved and authorised for issue by the Director on 14 October 2024. They were signed on its behalf by:

Karen Louise Friendship
Director
ALDERMAN ENGINEERING HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 20 November 2023 to 31 May 2024
ALDERMAN ENGINEERING HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 20 November 2023 to 31 May 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.

General information and basis of accounting

Alderman Engineering Holdings Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Bell Close Newnham Industrial Estate, Plympton, Plymouth, PL7 4JH, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the Company as an individual entity and not about its group.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the Statement of Financial Position date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the Statement of Financial Position date. Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Dividend income

Dividend income from investments is recognised when the shareholders' rights to receive payment have been established (provided that it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably).

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

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.

Leases


The Company as lessor
Amounts due from lessees under finance leases are recognised as receivables at the amount of the company’s net investment in the leases. Finance lease income is allocated to accounting periods so as to reflect a constant periodic rate of return on the company’s net investment outstanding in respect of leases.

Rental income from operating leases is recognised on a straight-line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight-line basis over the lease term.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined annually by the director, on an open market value for existing use basis.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

2. Employees

Period from
20.11.2023 to
31.05.2024
Number
Monthly average number of persons employed by the Company during the period, including the director 1

3. Investment property

Investment property
£
Valuation
As at 20 November 2023 0
Additions 1,265,250
As at 31 May 2024 1,265,250

During the period, the investment property was acquired by the company in exchange for the issue of 1,215,000 £1 preference shares.

Valuation

The fair value has been determined by the director, on an open market value for existing use basis.

4. Fixed asset investments

Investments in subsidiaries

31.05.2024
£
Cost
At 20 November 2023 0
Additions 100
At 31 May 2024 100
Carrying value at 31 May 2024 100

During the period, the company acquired 100% of the share capital in Alderman Tooling Limited, by way of a share for share exchange.

5. Creditors: amounts falling due within one year

31.05.2024
£
Accruals 3,000
Other creditors 50,250
53,250

There are no amounts included above in respect of which any security has been given by the small entity.

6. Creditors: amounts falling due after more than one year

31.05.2024
£
Other creditors 1,215,000

Included in other creditors is £1,215,000 in respect of redeemable preference shares.

7. Called-up share capital

31.05.2024
£
Allotted, called-up and fully-paid
49 Ordinary shares of £ 1.00 each 49
33 A Ordinary shares of £ 1.00 each 33
18 B Ordinary shares of £ 1.00 each 18
100
1,215,000 3.00% Redeemable cumulative preference shares of £ 1.00 each 1,215,000
1,215,100

On incorporation, one Ordinary A share was issued at par. During the period, the remaining Ordinary, Ordinary A and Ordinary B shares were issued as part of a share for share exchange, in return for shares in the subsidiary.

During the period, the 1,215,000 £1 Redeemable Preference were issued by the company in exchange for the investment property held in the accounts. The Preference shares are redeemable at the holders option, and carry the right to the 3% annual preferential dividend. The company cannot avoid the outflow of cash and on this basis the Preference shares have been classified as debt.

8. Related party transactions

During the period, an investment property was acquired from the family member of a Director, in exchange for the issue of 1,215,000 £1 Preference Shares. The investment property is used by the subsidiary as its trading premises, and a rental agreement was put in place during the period.

Formal dividend waivers have been drawn up in respect of the dividends due on the preference shares issued during the period and as such no dividends have been accrued.

As a parent company of wholly owned subsidiary undertakings, the company has taken advantage of the exemption in paragraph 1AC.35 of FRS102 in not disclosing intra group transactions where 100% of the voting rights are controlled within the group.