Registered number: 03958459
ALAN CONISBEE & ASSOCIATES LIMITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 MARCH 2024
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ALAN CONISBEE & ASSOCIATES LIMITED
REGISTERED NUMBER: 03958459
BALANCE SHEET
AS AT 31 MARCH 2024
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Creditors: amounts falling due after more than one year
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Provisions for liabilities
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Capital redemption reserve
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The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
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ALAN CONISBEE & ASSOCIATES LIMITED
REGISTERED NUMBER: 03958459
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 18 November 2024.
The notes on pages 4 to 12 form part of these financial statements.
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ALAN CONISBEE & ASSOCIATES LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2024
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Capital redemption reserve
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Dividends: Equity capital
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Dividends: Equity capital
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Shares cancelled during the year
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The notes on pages 4 to 12 form part of these financial statements.
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ALAN CONISBEE & ASSOCIATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Alan Conisbee and Associates Limited ("the Company") is a private company limited by shares, incorporated in England and Wales. Its registered office is 1 - 5 Offord Street, London, N1 1DH.
The principal activity of the company in the year under review was that of civil engineering services.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies (see note 3).
The following principal accounting policies have been applied:
Revenue recognition occurs in the period in which services are rendered by reference to the stage of completion, which is assessed on actual services provided as a proportion of total services to be provided. Only when revenue can be reliably measured and it is probable that future economic benefits will flow is revenue recognised.
Unbilled revenue on projects which fulfils the recognition criteria is included in amounts recoverable on long term contracts within debtors. Where individual on-account billings exceed revenue on individual projects, the excess is classified as amounts billed in advance of work done within creditors.
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
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ALAN CONISBEE & ASSOCIATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
2.Accounting policies (continued)
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Tangible fixed assets (continued)
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Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
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Long-term leasehold property
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Over the term of the lease
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The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
Short term debtors are measured at transaction price, less any impairment.
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares..
Short term creditors are measured at the transaction price, less any impairment.
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Foreign currency translation
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Functional and presentation currency
The Company's functional and presentational currency is GBP.
Transactions and balances
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
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ALAN CONISBEE & ASSOCIATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
2.Accounting policies (continued)
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.
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Operating leases: the Company as lessee
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Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.
Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.
Defined contribution pension plan
The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.
Interest income is recognised in profit or loss using the effective interest method.
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
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Provisions for liabilities
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Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
Increases in provisions are generally charged as an expense to profit or loss.
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ALAN CONISBEE & ASSOCIATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
2.Accounting policies (continued)
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Current and deferred taxation
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The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
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Judgments in applying accounting policies and key sources of estimation uncertainty
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Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
The principal estimates and judgments that could have an effect upon the Company’s financial statements relate to:
Amounts recoverable on long term contracts and amounts billed in advance of work done
Income has been recognised in respect of services delivered where a right to consideration is receivable at the balance sheet date. Certain judgments have been applied with regard to unbilled projects concerning future revenues, exposure to credit risk and the degree of completion of the underlying contractual arrangements. See notes 6 and 7.
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The average monthly number of employees, including the directors, during the year was as follows:
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ALAN CONISBEE & ASSOCIATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
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Charge for the year on owned assets
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ALAN CONISBEE & ASSOCIATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
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Prepayments and accrued income
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Amounts recoverable on long term contracts
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Creditors: Amounts falling due within one year
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Billed in advance of work done
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Other taxation and social security
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Accruals and deferred income
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Creditors: Amounts falling due after more than one year
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ALAN CONISBEE & ASSOCIATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
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Analysis of the maturity of loans is given below:
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Amounts falling due within one year
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Amounts falling due 1-2 years
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Amounts falling due 2-5 years
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Charged to profit or loss
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The provision for deferred taxation is made up as follows:
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Accelerated capital allowances
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ALAN CONISBEE & ASSOCIATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
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Charged to profit or loss
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The directors have provided for claims against the Company in respect of breach of contracts where there is a probable economic loss. The claims are provided to the extent that they are not covered by the Company's insurance. The claims are expected to be settled over the next few years and are, at this stage, estimated.
The potential claims where the directors consider there is a possible (but not probable) economic loss are £15,000 (2023 - £150,000).
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Allotted, called up and fully paid
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0 (2023 - 1,800) 'B' ordinary shares of £0.10 each
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2,880 (2023 - 2,880) 'E' ordinary shares of £0.10 each
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2,880 (2023 - 2,880) 'F' ordinary shares of £0.10 each
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2,880 (2023 - 2,880) 'G' ordinary shares of £0.10 each
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2,880 (2023 - 2,880) 'H' ordinary shares of £0.10 each
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2,880 (2023 - 2,880) 'I' oridnary shares of £0.10 each
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All shares rank pari-passu in all respects.
During the year, 1,800 Ordinary B shares of £0.10 each were repurchased for consideration of £247,054.
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The Company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the company to the funds in respect of the year.
The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £171,315 (2023 - £111,932). Contributions totalling £Nil (2023 - £9,365) were payable to the fund at the balance sheet date and are included in creditors.
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ALAN CONISBEE & ASSOCIATES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
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Related party transactions
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During the year related parties made the following transactions with, and the following balances were due from/to, Alan Conisbee and Associates Limited.
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Rent paid to a company with certain common directors
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Dividend in which directors have an interest
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The Company has no single controlling party.
The auditors' report on the financial statements for the year ended 31 March 2024 was unqualified.
The audit report was signed on 22 November 2024 by Simon Liggins (Senior statutory auditor) on behalf of Barnes Roffe LLP.
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