REGISTERED NUMBER: |
ALEVERE NUTRITION LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 18 JANUARY 2023 TO 31 MARCH 2024 |
REGISTERED NUMBER: |
ALEVERE NUTRITION LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 18 JANUARY 2023 TO 31 MARCH 2024 |
ALEVERE NUTRITION LIMITED (REGISTERED NUMBER: 14600085) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 18 JANUARY 2023 TO 31 MARCH 2024 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
ALEVERE NUTRITION LIMITED |
COMPANY INFORMATION |
FOR THE PERIOD 18 JANUARY 2023 TO 31 MARCH 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
The Exchange |
5 Bank Street |
Bury |
Lancashire |
BL9 0DN |
ALEVERE NUTRITION LIMITED (REGISTERED NUMBER: 14600085) |
STATEMENT OF FINANCIAL POSITION |
31 MARCH 2024 |
Notes | £ |
FIXED ASSETS |
Intangible assets | 4 |
Property, plant and equipment | 5 |
CURRENT ASSETS |
Inventories |
Debtors | 6 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
NET LIABILITIES | ( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings | ( |
) |
( |
) |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
ALEVERE NUTRITION LIMITED (REGISTERED NUMBER: 14600085) |
STATEMENT OF FINANCIAL POSITION - continued |
31 MARCH 2024 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
ALEVERE NUTRITION LIMITED (REGISTERED NUMBER: 14600085) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 18 JANUARY 2023 TO 31 MARCH 2024 |
1. | STATUTORY INFORMATION |
Alevere Nutrition Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 14600085, and registered office address is The Orchards, Carleton, Carlisle, Cumbria, CA1 3DZ. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
Going concern |
At the statement of financial position, the company had net liabilities of £553,167 and reported a net loss for the year. |
Alevere Nutrition Limited was established on 18 January 2023, arising from purchasing the assets of the Silverlink Group Limited and Silverlink Clinic (Newcastle) Limited, which was in liquidation. As a result, there were a number of costs that were borne that bore relation to the previous entities which were absorbed into this year. In addition, the business has restructured its management team which resulted in further one off costs which will not reoccur. The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Therefore the directors continue to adopt the going concern basis in preparing the financial statements. |
Included within creditors falling due after more than one year is an amount due to a shareholder, JKA Investments Limited, of £865,451. The shareholder has indicated their continued support and will not seek repayment of the balance to the detriment of the company. |
Significant judgements and estimates |
In the application of the company's accounting policies, the directors are required to make estimates and judgements. The estimates are based on historical experience and other relevant factors. Actual results may differ from these estimates. |
The estimates are continually evaluated. Revisions to accounting estimates are recognised in the period in which the estimate is revised. |
The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are outlined below. |
Estimating the useful economic life of an asset and the anticipated residual value are considered the key judgement in calculating an appropriate depreciation charge. |
In categorising leases as finance or operating leases, the directors make judgements as to whether significant risks and rewards of ownership have transferred to the company as lessee. |
ALEVERE NUTRITION LIMITED (REGISTERED NUMBER: 14600085) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 18 JANUARY 2023 TO 31 MARCH 2024 |
2. | ACCOUNTING POLICIES - continued |
Revenue |
Revenue comprises the aggregate of the fair value of the sale of goods and services provided, net of value-added tax, rebates and discounts. |
Revenue from the sale of goods is recognised when the company has delivered products to the customer, the customer has accepted the products and collectability of the related receivables is fairly stated. |
Service revenues are recognised as those services are provided to customers. |
Goodwill |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
Property, plant and equipment |
Plant and machinery etc | - |
The residual values, estimated useful lives and depreciation method of property, plant and equipment are reviewed, and adjusted as appropriate, at each statement of financial position date. The effects of any revision are recognised in the income statement when the change arises. |
Inventory |
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Cost is the direct cost of goods purchased. |
Net realisable value is the estimated selling price less costs to complete and sell. |
Financial instruments |
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties. |
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the income statement. |
Basic financial liabilities are initially measured at transaction price and subsequently measured at amortised cost, being the transaction price less any amounts settled. |
ALEVERE NUTRITION LIMITED (REGISTERED NUMBER: 14600085) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 18 JANUARY 2023 TO 31 MARCH 2024 |
2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
Foreign currencies |
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the statement of financial position. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
ALEVERE NUTRITION LIMITED (REGISTERED NUMBER: 14600085) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 18 JANUARY 2023 TO 31 MARCH 2024 |
4. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
Goodwill | assets | Totals |
£ | £ | £ |
COST |
Additions |
At 31 March 2024 |
AMORTISATION |
Charge for period |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
5. | PROPERTY, PLANT AND EQUIPMENT |
Plant and |
machinery |
etc |
£ |
COST |
Additions |
Disposals | ( |
) |
At 31 March 2024 |
DEPRECIATION |
Charge for period |
Eliminated on disposal | ( |
) |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Trade debtors |
Other debtors |
ALEVERE NUTRITION LIMITED (REGISTERED NUMBER: 14600085) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 18 JANUARY 2023 TO 31 MARCH 2024 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Hire purchase contracts (see note 9) |
Trade creditors |
Taxation and social security |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
£ |
Amounts owed to participating interests | 865,451 |
9. | LEASING AGREEMENTS |
Minimum lease payments fall due as follows: |
Hire |
purchase |
contracts |
£ |
Net obligations repayable: |
Within one year |
Non-cancellable |
operating leases |
2024 |
£ |
Within one year | 55,300 |
Between one and five years | 125,733 |
181,033 |
10. | SECURED DEBTS |
The following secured debts are included within creditors: |
£ |
Hire purchase contracts | 9,267 |
Hire purchase contracts are secured against the assets to which they relate. |
11. | RELATED PARTY DISCLOSURES |
Included within creditors falling due after more than one year is an amount due to a shareholder, JKA Investments Limited, of £865,451. This amount attracts interest at a rate of 10% per annum, is unsecured, and is repayable upon demand. |
ALEVERE NUTRITION LIMITED (REGISTERED NUMBER: 14600085) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 18 JANUARY 2023 TO 31 MARCH 2024 |
12. | POST BALANCE SHEET EVENTS |
On 31 December 2024, Alevere Nutrition Limited disposed of its six clinics. This will allow the business to focus on the distribution side of the business and allow for expansion of products to offer our portfolio of partner clinics. It will also enable growth into other areas. |