Company registration number 02967759 (England and Wales)
ALPHR TECHNOLOGY LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
ALPHR TECHNOLOGY LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 11
ALPHR TECHNOLOGY LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Intangible assets
5
38,031
31,469
Tangible assets
6
144,143
119,846
Investments
7
111,258
111,258
293,432
262,573
Current assets
Stocks
9
417,079
1,339,504
Debtors
10
3,004,543
1,730,632
Cash at bank and in hand
1,458
876,101
3,423,080
3,946,237
Creditors: amounts falling due within one year
11
(1,438,284)
(1,841,191)
Net current assets
1,984,796
2,105,046
Total assets less current liabilities
2,278,228
2,367,619
Provisions for liabilities
13
(50,000)
(50,000)
Net assets
2,228,228
2,317,619
Capital and reserves
Called up share capital
17
100
100
Profit and loss reserves
2,228,128
2,317,519
Total equity
2,228,228
2,317,619
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 20 December 2024 and are signed on its behalf by:
Mr Iqbal Hasan Kazi
Director
Company Registration No. 02967759
ALPHR TECHNOLOGY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -
1
Accounting policies
Company information
Alphr Technology Limited is a private company limited by shares incorporated in England and Wales. The registered office is 18 Amor Way, Letchworth Garden City, Herts, SG6 1UG.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The company has taken advantage of the exemption under section 401 of the Companies Act 2006 not to prepare consolidated accounts. The financial statements present information about the company as an individual entity and not about its group.
Alphr Technology Limited is a wholly owned subsidiary of Indutrade AB and the results of Alphr Technology Limited are included in the consolidated financial statements of Indutrade AB, a company registered in Sweden.
1.2
Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.true
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.
In respect of turnover in relation to contracts, recognition occurs when the outcome of a contract can be measured reliably - this also applies to contract costs. Measurement is with reference to the stage of completion. The stage of completion of a project is measured on the percentage completion level of the project determined by project managers and discussions with management. Revenue is subsequently accrued and deferred as necessary.
1.4
Intangible fixed assets other than goodwill
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.
ALPHR TECHNOLOGY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 3 -
Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Software
3 years' straight line
1.5
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost net of depreciation.
Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:
Leasehold improvements
5 or 10 Years straight line depending on lease term
Plant and equipment
4 years straight line
Fixtures and fittings
3 years straight line
Computers
3 years straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.6
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.
Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.
1.7
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.
If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.
ALPHR TECHNOLOGY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 4 -
Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.
1.8
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
1.9
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 current liabilities.
1.10
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Classification of financial liabilities
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.
ALPHR TECHNOLOGY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 5 -
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
1.11
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.12
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.13
Provisions
Provisions are recognised when the company has a legal or constructive present obligation as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting end date, taking into account the risks and uncertainties surrounding the obligation. Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value. When a provision is measured at present value, the unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
ALPHR TECHNOLOGY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 6 -
1.14
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.15
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.16
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
Critical judgements
The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.
Work in Progress (WIP)
WIP is calculated based on a percentage of project completion basis. This means that a projects completeness is judged based on an estimate of the level of completeness of each project, determined by management and accrued and deferred costs are calculated on this basis.
Warranty Provision
Management use an estimate of 1% of the annual turnover to calculate a warranty provision. This is compared to recent experience of claims made under warranty. Management place great emphasis on quality control with a view to mitigating the risk of claims being made under warranty.
Dilapidations provision
An estimate of total costs to return the building to the initial state it was in at the date of purchase have been estimated and provided for. This is an estimate made by management.
ALPHR TECHNOLOGY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 7 -
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Management and administration
15
15
Production
23
25
Total
38
40
4
Taxation
2023
2022
£
£
Deferred tax
Origination and reversal of timing differences
(29,607)
(182,582)
5
Intangible fixed assets
Other
£
Cost
At 1 January 2023
34,266
Additions
27,563
At 31 December 2023
61,829
Amortisation and impairment
At 1 January 2023
2,797
Amortisation charged for the year
21,001
At 31 December 2023
23,798
Carrying amount
At 31 December 2023
38,031
At 31 December 2022
31,469
ALPHR TECHNOLOGY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 8 -
6
Tangible fixed assets
Leasehold improvements
Plant and equipment
Fixtures and fittings
Computers
Total
£
£
£
£
£
Cost
At 1 January 2023
40,559
88,167
10,818
8,800
148,344
Additions
20,712
4,247
2,612
46,108
73,679
At 31 December 2023
61,271
92,414
13,430
54,908
222,023
Depreciation and impairment
At 1 January 2023
8,949
14,183
2,189
3,177
28,498
Depreciation charged in the year
10,476
13,660
4,296
20,950
49,382
At 31 December 2023
19,425
27,843
6,485
24,127
77,880
Carrying amount
At 31 December 2023
41,846
64,571
6,945
30,781
144,143
At 31 December 2022
31,610
73,984
8,629
5,623
119,846
7
Fixed asset investments
2023
2022
£
£
Shares in group undertakings and participating interests
111,258
111,258
Fixed asset investments not carried at market value
Unlisted fixed asset investments are shown at cost and are subject to review for indications of impairment.
8
Subsidiaries
Details of the company's subsidiaries at 31 December 2023 are as follows:
Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Alphr Technology Europe SRL
Calea Zimandului, Nr.30, Hala 2, 310216, Arad, Romania
Ordinary
100.00
9
Stocks
2023
2022
£
£
Raw materials and consumables
417,079
1,339,504
ALPHR TECHNOLOGY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 9 -
10
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
955,634
393,145
Corporation tax recoverable
98,183
98,183
Amounts owed by group undertakings
71,567
Gross amounts owed by contract customers
1,507,247
874,325
Other debtors
144,642
167,316
2,777,273
1,532,969
2023
2022
Amounts falling due after more than one year:
£
£
Deferred tax asset (note 14)
227,270
197,663
Total debtors
3,004,543
1,730,632
11
Creditors: amounts falling due within one year
2023
2022
Notes
£
£
Bank loans and overdrafts
516,330
Trade creditors
282,270
648,213
Amounts owed to group undertakings
203,662
5,745
Taxation and social security
63,023
73,875
Deferred income
15
144,007
927,660
Other creditors
228,992
185,698
1,438,284
1,841,191
12
Loans and overdrafts
2023
2022
£
£
Bank overdrafts
516,330
Payable within one year
516,330
The bank overdraft is secured via a cash pool arrangement with all fellow UK subsidiary companies of the group, with Handelsbanken, the company is jointly and severally liable for all amounts due to Handlesbanken within this cash pool arrangement.
ALPHR TECHNOLOGY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 10 -
13
Provisions for liabilities
2023
2022
£
£
Dilapidations
50,000
50,000
The dilapidations provision represents amounts expected to be payable on termination of the existing lease of the company's premises. The provision is based on the estimated cost of restoring the premises to the conditions agreed at the inception of the lease.
14
Deferred taxation
The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:
Assets
Assets
2023
2022
Balances:
£
£
Accelerated capital allowances
(13,394)
(21,235)
Tax losses
236,811
217,198
Provisions
3,853
1,700
227,270
197,663
2023
Movements in the year:
£
Asset at 1 January 2023
(197,663)
Credit to profit or loss
(29,607)
Asset at 31 December 2023
(227,270)
15
Deferred income
2023
2022
£
£
Other deferred income
144,007
927,660
16
Retirement benefit schemes
2023
2022
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
164,558
146,495
The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.
ALPHR TECHNOLOGY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 11 -
17
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
100 Ordinary shares of £1 each
100
100
100
100
18
Audit report information
As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:
The auditor's report was unqualified.
Senior Statutory Auditor:
James Price FCA
Statutory Auditor:
TC Audit Limited
Date of audit report:
27 December 2024
19
Operating lease commitments
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2023
2022
£
£
309,835
389,432
20
Capital commitments
Amounts contracted for but not provided in the financial statements:
2023
2022
£
£
Acquisition of tangible fixed assets
-
40,000
21
Ultimate controlling party
The parent company of Alphr Technology Limited is Indutrade AB and its registered office is Raseborgsgatan 9 164 74 Kista, Sverige.
The ultimate controlling party is Indutrade AB.
2023-12-312023-01-01false27 December 2024CCH SoftwareCCH Accounts Production 2024.200No description of principal activityThis audit opinion is unqualifiedMr D RichardsonMr A WirseniusMr C McGreevyMr Luke SansbyMr Iqbal Hasan KaziMr Florin Radu Cordosfalsefalse029677592023-01-012023-12-31029677592023-12-31029677592022-12-3102967759core:IntangibleAssetsOtherThanGoodwill2023-12-3102967759core:IntangibleAssetsOtherThanGoodwill2022-12-3102967759core:LeaseholdImprovements2023-12-3102967759core:PlantMachinery2023-12-3102967759core:FurnitureFittings2023-12-3102967759core:ComputerEquipment2023-12-3102967759core:LeaseholdImprovements2022-12-3102967759core:PlantMachinery2022-12-3102967759core:FurnitureFittings2022-12-3102967759core:ComputerEquipment2022-12-3102967759core:CurrentFinancialInstrumentscore:WithinOneYear2023-12-3102967759core:CurrentFinancialInstrumentscore:WithinOneYear2022-12-3102967759core:ShareCapital2023-12-3102967759core:ShareCapital2022-12-3102967759core:RetainedEarningsAccumulatedLosses2023-12-3102967759core:RetainedEarningsAccumulatedLosses2022-12-3102967759bus:Director52023-01-012023-12-3102967759core:IntangibleAssetsOtherThanGoodwill2023-01-012023-12-3102967759core:ComputerSoftware2023-01-012023-12-3102967759core:LeaseholdImprovements2023-01-012023-12-3102967759core:PlantMachinery2023-01-012023-12-3102967759core:FurnitureFittings2023-01-012023-12-3102967759core:ComputerEquipment2023-01-012023-12-31029677592022-01-012022-12-3102967759core:IntangibleAssetsOtherThanGoodwill2022-12-3102967759core:LeaseholdImprovements2022-12-3102967759core:PlantMachinery2022-12-3102967759core:FurnitureFittings2022-12-3102967759core:ComputerEquipment2022-12-31029677592022-12-3102967759core:CurrentFinancialInstruments2023-12-3102967759core:CurrentFinancialInstruments2022-12-3102967759core:AfterOneYear2023-12-3102967759core:AfterOneYear2022-12-3102967759bus:PrivateLimitedCompanyLtd2023-01-012023-12-3102967759bus:SmallCompaniesRegimeForAccounts2023-01-012023-12-3102967759bus:FRS1022023-01-012023-12-3102967759bus:Audited2023-01-012023-12-3102967759bus:Director12023-01-012023-12-3102967759bus:Director22023-01-012023-12-3102967759bus:Director32023-01-012023-12-3102967759bus:Director42023-01-012023-12-3102967759bus:Director62023-01-012023-12-3102967759bus:FullAccounts2023-01-012023-12-31xbrli:purexbrli:sharesiso4217:GBP