Company Registration No. 07046589 (England and Wales)
ALPHA UCITS LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
ALPHA UCITS LIMITED
COMPANY INFORMATION
Director
S Diederich
Company number
07046589
Registered office
11 Hyde Park Gardens
London
W2 2LU
Auditor
TC Group
5th Floor
3 Dorset Rise
London
EC4Y 8EN
Business address
103 Mount Street
Mayfair
London
W1K 2TJ
ALPHA UCITS LIMITED
CONTENTS
Page
Director's report
1 - 2
Strategic report
3 - 4
Independent auditor's report
5 - 7
Statement of comprehensive income
8
Statement of financial position
9
Statement of changes in equity
10
Statement of cash flows
11
Notes to the financial statements
12 - 20
The following pages do not form part of the statutory financial statements
Unaudited MIFIDPRU 8 remuneration disclosures
20
Detailed profit and loss statement
-
ALPHA UCITS LIMITED
DIRECTOR'S REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 1 -

The director presents his annual report and financial statements for the year ended 30 September 2024.

Principal activities

The company is regulated by the Financial Conduct Authority (FCA number 531136) and focuses on two business lines:

 

Results and dividends

The results for the year are set out on page 8.

During the year, the company paid dividends of £755,000 (2023: £175,000).

Director

The director who held office during the year and up to the date of signature of the financial statements was as follows:

S Diederich
Auditor

The auditors, TC Group, are deemed to be reappointed under section 487(2) of the Companies Act 2006.

Energy and carbon report

As the company has not consumed more than 40,000 kWh of energy in this reporting period, it qualifies as a low energy user under these regulations and is not required to report on its emissions, energy consumption or energy efficiency activities.

Statement of director's responsibilities

The director is responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

 

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to:

 

 

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

ALPHA UCITS LIMITED
DIRECTOR'S REPORT (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 2 -
Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

On behalf of the board
S Diederich
Director
30 December 2024
ALPHA UCITS LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 3 -

The director presents the strategic report for the year ended 30 September 2024.

Fair review of the business

In this 14th year of trading revenues on both business lines, fund distribution and operating a UCITS fund platform, the company continued to be profit making, despite a decrease in revenue mainly caused by the current economic environment. The company continued to win awards for its fund distribution expertise to institutional investors across Europe.

The key performance indicator is its revenue which increased from £687,142 in 2023 to £823,595 in 2024.

 

The company achieved a profit before tax of £501,204 (2023: £404,630) and at the year end its cash balances were £169,822 (2023: £432,424). The director is satisfied with the state of affairs of the company at the year end.

 

The company is working on several new initiatives to further increase its revenues and profits in the next financial year.

Principal risks and uncertainties

The director considers that the key financial exposures faced by the company relate to the need to maintain sufficient liquidity to satisfy regulatory capital requirements and working capital needs. The company's financial risk management objectives are therefore to minimise the key financial risks by having clearly defined terms of business with counterparties and stringent credit control over transactions with them. Achieving these objectives is assisted by the company having a relatively low fixed overhead base.

 

The company also regularly monitors cash flow and management accounts to ensure regulatory capital requirements are not breached and that the company maintains adequate working capital.

 

The company's principal financial instruments comprise bank balances and creditors. The risks associated with these instruments are primarily liquidity risk. The bank balances are maintained at a level to ensure sufficient funds are available to meet liabilities as they fall due.

 

Operational risk, inherent in all businesses, is the potential for financial and reputation loss arising from failures in internal controls, operational processes or systems that support them. It includes errors, omissions, disasters and deliberate acts such as fraud. The regulated environment in which the company operations imposes regular reporting requirements and continuing self-assessment and appraisal of the company's operations. Furthermore, internal arrangements are supported with appropriate disaster recovery and business continuity plans. These processes in place are continually re-evaluated as the company seeks to improve its operating efficiencies and the directors consider the current procedures to have been effective to date.

Section 172 statement

The director of the company is also its sole shareholder. Underlying the decision making process of the company, the director considers the impact on the company’s employees and is mindful of how the company’s business operations impact the community and environment. The director’s overarching responsibility is to maintain a reputation for high standards of business conduct and seek to build strong business relationships with suppliers, customers and other key counterparties.

 

During the year under review, the company expanded its client base but the business strategy remained unchanged. There were no key decisions made that could impact potential interested parties of the company.

ALPHA UCITS LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 4 -
MIFIDPRU 8 remuneration disclosures

In accordance with the rules of the FCA, the company has published information on its remuneration policy. Details of the company's MIFIDPRU 8 remuneration disclosures can be found on page 20.

On behalf of the board

S Diederich
Director
30 December 2024
ALPHA UCITS LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF ALPHA UCITS LIMITED
- 5 -
Opinion

We have audited the financial statements of Alpha UCITS Limited (the 'company') for the year ended 30 September 2024 which comprise the statement of comprehensive income, the statement of financial position, the statement of changes in equity, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

 

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

 

Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The director is responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

 

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

ALPHA UCITS LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF ALPHA UCITS LIMITED
- 6 -
Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the director's report.

 

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of director

As explained more fully in the Director's Responsibilities Statement, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

 

In preparing the financial statements, the director is responsible for assessing the company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intend to liquidate the company or to cease operations, or has no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which the audit was considered capable of detecting irregularities including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect irregularities, including fraud. The risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below. However, the primary responsibility for the prevention and detection of fraud rests with both those charged with governance of the entity and management.

Our approach was as follows:

ALPHA UCITS LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF ALPHA UCITS LIMITED
- 7 -

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Michael Berry FCA CTA (Senior Statutory Auditor)
For and on behalf of TC Group
30 December 2024
Accountants
Statutory Auditor
5th Floor
3 Dorset Rise
London
EC4Y 8EN
ALPHA UCITS LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 8 -
2024
2023
Notes
£
£
Revenue
2
823,595
687,142
Cost of sales
(50,187)
(27,420)
Gross profit
773,408
659,722
Administrative expenses
(283,323)
(258,997)
Operating profit
3
490,085
400,725
Investment income
11,119
3,905
Profit before taxation
501,204
404,630
Tax on profit
6
(127,306)
(88,343)
Profit for the financial year
373,898
316,287
ALPHA UCITS LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
30 SEPTEMBER 2024
30 September 2024
- 9 -
2024
2023
Notes
£
£
£
£
Non-current assets
Property, plant and equipment
8
13,730
13,482
Investments
9
62,031
142,523
75,761
156,005
Current assets
Trade and other receivables
10
51,870
47,840
Cash and cash equivalents
169,822
432,424
221,692
480,264
Current liabilities
11
(158,507)
(115,916)
Net current assets
63,185
364,348
Total assets less current liabilities
138,946
520,353
Provisions for liabilities
Deferred tax liability
12
-
0
305
-
(305)
Net assets
138,946
520,048
Equity
Called up share capital
14
75,000
75,000
Retained earnings
63,946
445,048
Total equity
138,946
520,048
The financial statements were approved and signed by the director and authorised for issue on 30 December 2024
S Diederich
Director
Company registration number 07046589 (England and Wales)
ALPHA UCITS LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 10 -
Share capital
Retained earnings
Total
Notes
£
£
£
Balance at 1 October 2022
75,000
303,761
378,761
Year ended 30 September 2023:
Profit and total comprehensive income
-
316,287
316,287
Dividends
7
-
(175,000)
(175,000)
Balance at 30 September 2023
75,000
445,048
520,048
Year ended 30 September 2024:
Profit and total comprehensive income
-
373,898
373,898
Dividends
7
-
(755,000)
(755,000)
Balance at 30 September 2024
75,000
63,946
138,946
ALPHA UCITS LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 11 -
2024
2023
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
17
492,692
404,115
Income taxes paid
(90,147)
(101,782)
Net cash inflow from operating activities
402,545
302,333
Investing activities
Purchase of property, plant and equipment
(1,758)
(414)
Proceeds from disposal of investments
80,492
(142,523)
Interest received
7,313
3,905
Other income received from investments
3,806
-
0
Net cash generated from/(used in) investing activities
89,853
(139,032)
Financing activities
Dividends paid
(755,000)
(175,000)
Net cash used in financing activities
(755,000)
(175,000)
Net decrease in cash and cash equivalents
(262,602)
(11,699)
Cash and cash equivalents at beginning of year
432,424
444,123
Cash and cash equivalents at end of year
169,822
432,424
ALPHA UCITS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 12 -
1
Accounting policies
Company information

Alpha UCITS Limited is a private company limited by shares incorporated in England and Wales. The registered office is 11 Hyde Park Gardens, London, W2 2LU. The company's place of business is 49 Grosvenor Street, London, W1K 3HP.

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.

The financial statements are prepared in pound sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest pound sterling.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

Atruet the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Revenue

Revenue is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

Revenue is recognised when it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.4
Property, plant and equipment

Property, plant and equipment are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation 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:

Fixtures and fittings
50 years straight line
Computer equipment
33% 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.

1.5
Non-current 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 their fair value can be measured reliably.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.

ALPHA UCITS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 13 -
1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's statement of financial position 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 trade and other receivables 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.

Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

 

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

 

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

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.

ALPHA UCITS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 14 -
Basic financial liabilities

Basic financial liabilities, including trade and other payables, 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 payables 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 payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.8
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 income statement 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.

1.9
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 non-current assets.

1.10
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.11
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 are included in the income statement for the period.

 

ALPHA UCITS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 15 -
2
Revenue
2024
2023
£
£
Revenue analysed by class of business
Fee income
823,595
687,142
2024
2023
£
£
Revenue analysed by geographical market
United Kingdom
345,968
272,292
Europe
477,627
414,850
823,595
687,142
3
Operating profit
2024
2023
Operating profit for the year is stated after charging:
£
£
Exchange losses
18,944
21,721
Fees payable to the company's auditor for the audit of the company's financial statements
9,285
7,650
Depreciation of owned property, plant and equipment
1,510
1,927
4
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Administration and management
2
2

Their aggregate remuneration comprised:

2024
2023
£
£
Wages and salaries
166,242
155,833
Social security costs
14,717
13,973
Pension costs
2,421
2,214
183,380
172,020

In addition to the employees of the company, the company engages with financial consultants to support the company's operations. During the year, the company had engaged 5 financial consultants (2023: 6 financial consultants).

ALPHA UCITS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 16 -
5
Director's remuneration
2024
2023
£
£
Remuneration for qualifying services
73,375
76,033
6
Taxation
2024
2023
£
£
Current tax
UK corporation tax on profits for the current period
127,161
89,694
Adjustments in respect of prior periods
450
(1,351)
Total current tax
127,611
88,343
Deferred tax
Other adjustments
(305)
-
0
Total tax charge
127,306
88,343

The actual charge for the year can be reconciled to the expected charge for the year based on the profit or loss and the standard rate of tax as follows:

2024
2023
£
£
Profit before taxation
501,204
404,630
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2023: 22.00%)
125,301
89,019
Tax effect of expenses that are not deductible in determining taxable profit
2,299
1,778
Permanent capital allowances in excess of depreciation
(439)
(91)
Other non-reversing timing differences
(305)
-
0
Under/(over) provided in prior years
450
(1,351)
Amounts not yet provided
-
0
(1,012)
Taxation charge for the year
127,306
88,343
7
Dividends
2024
2023
£
£
Interim paid
755,000
175,000
ALPHA UCITS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 17 -
8
Property, plant and equipment
Fixtures and fittings
Computer equipment
Total
£
£
£
Cost
At 1 October 2023
12,568
18,876
31,444
Additions
1,758
-
0
1,758
At 30 September 2024
14,326
18,876
33,202
Depreciation and impairment
At 1 October 2023
502
17,460
17,962
Depreciation charged in the year
251
1,259
1,510
At 30 September 2024
753
18,719
19,472
Carrying amount
At 30 September 2024
13,573
157
13,730
At 30 September 2023
12,066
1,416
13,482
9
Fixed asset investments
2024
2023
£
£
Listed investments
62,031
142,523
Movements in non-current investments
Investments
£
Cost or valuation
At 1 October 2023
142,523
Additions
27,847
Valuation changes
(2,302)
Disposals
(106,037)
At 30 September 2024
62,031
Carrying amount
At 30 September 2024
62,031
At 30 September 2023
142,523
ALPHA UCITS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 18 -
10
Trade and other receivables
2024
2023
Amounts falling due within one year:
£
£
Trade receivables
42,047
45,916
Prepayments and accrued income
9,823
1,924
51,870
47,840
11
Current liabilities
2024
2023
£
£
Trade payables
-
0
414
Corporation tax
127,161
89,697
Other taxation and social security
6,150
6,889
Other payables
229
462
Accruals and deferred income
24,967
18,454
158,507
115,916
12
Deferred taxation

The following are the deferred tax liabilities and assets recognised by the company and movements thereon:

Liabilities
Liabilities
2024
2023
Balances:
£
£
Accelerated capital allowances
-
0
305
2024
Movements in the year:
£
Liability at 1 October 2023
305
Credit to profit or loss
(305)
Liability at 30 September 2024
-
ALPHA UCITS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 19 -
13
Retirement benefit schemes
2024
2023
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
2,421
2,214

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.

14
Share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
75,000
75,000
75,000
75,000
15
Operating lease commitments

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

2024
2023
£
£
Within one year
14,863
26,329
Between two and five years
-
0
14,863
14,863
41,192
16
Ultimate controlling party

The company is under the control of its director, S Diederich.

 

ALPHA UCITS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 20 -
17
Cash generated from operations
2024
2023
£
£
Profit for the year after tax
373,898
316,287
Adjustments for:
Taxation charged
127,306
88,343
Investment income
(11,119)
(3,905)
Depreciation and impairment of property, plant and equipment
1,510
1,927
Movements in working capital:
(Increase)/decrease in trade and other receivables
(4,030)
1,410
Increase in trade and other payables
5,127
53
Cash generated from operations
492,692
404,115
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