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COMPANY REGISTRATION NUMBER: 3207685
Allen Installations Limited
Filleted Unaudited Financial Statements
For the Year Ended
30 June 2024
Allen Installations Limited
Statement of Financial Position
30 June 2024
2024
2023
Note
£
£
£
Fixed Assets
Tangible assets
5
626,374
679,803
Current Assets
Stocks
113,811
108,123
Debtors
6
484,087
272,829
Cash at bank and in hand
541,767
688,142
-------------
-------------
1,139,665
1,069,094
Creditors: amounts falling due within one year
7
766,148
777,539
-------------
-------------
Net Current Assets
373,517
291,555
----------
----------
Total Assets Less Current Liabilities
999,891
971,358
Creditors: amounts falling due after more than one year
8
360,680
389,583
Provisions
Taxation including deferred tax
45,082
55,194
----------
----------
Net Assets
594,129
526,581
----------
----------
Allen Installations Limited
Statement of Financial Position (continued)
30 June 2024
2024
2023
Note
£
£
£
Capital and Reserves
Called up share capital
100
100
Profit and loss account
594,029
526,481
----------
----------
Shareholders Funds
594,129
526,581
----------
----------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30th June 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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 24 January 2025 , and are signed on behalf of the board by:
J. M. Allen
Director
Company registration number: 3207685
Allen Installations Limited
Notes to the Financial Statements
Year Ended 30th June 2024
1. General Information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Units 1A and 2A, Morses Lane Industrial Estate, Brightlingsea, Essex, CO7 OSF.
2. Statement of Compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting Policies
Basis of Preparation
The financial statements have been prepared on the historical cost basis.
Revenue Recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income Tax
Deferred taxation is provided using the liability method on all timing differences, including those relating to pensions, which are expected to reverse in the future without being replaced, calculated at the rate at which it is anticipated the timing differences will reverse.
Tangible Assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
20% straight line
Motor vehicles
-
25% straight line
Impairment of Fixed Assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance Leases and Hire Purchase Contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial Instruments
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 entity after deducting all of its financial liabilities.
Defined Contribution Plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee Numbers
The average number of persons employed by the company during the year amounted to 50 (2023: 50 ).
5. Tangible Assets
Land and buildings
Plant and machinery
Motor vehicles
Total
£
£
£
£
Cost
At 1st July 2023
504,000
640,126
456,872
1,600,998
Additions
21,124
34,495
55,619
Disposals
( 84,979)
( 84,979)
----------
----------
----------
-------------
At 30th June 2024
504,000
576,271
491,367
1,571,638
----------
----------
----------
-------------
Depreciation
At 1st July 2023
32,320
541,523
347,352
921,195
Charge for the year
8,080
34,515
66,454
109,049
Disposals
( 84,980)
( 84,980)
----------
----------
----------
-------------
At 30th June 2024
40,400
491,058
413,806
945,264
----------
----------
----------
-------------
Carrying amount
At 30th June 2024
463,600
85,213
77,561
626,374
----------
----------
----------
-------------
At 30th June 2023
471,680
98,603
109,520
679,803
----------
----------
----------
-------------
6. Debtors
2024
2023
£
£
Trade debtors
418,458
214,885
Other debtors
65,629
57,944
----------
----------
484,087
272,829
----------
----------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
30,386
31,869
Trade creditors
451,949
407,505
Corporation tax
40,404
Social security and other taxes
119,932
124,875
Other creditors
163,881
172,886
----------
----------
766,148
777,539
----------
----------
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
360,680
389,583
----------
----------
Included within creditors: amounts falling due after more than one year is an amount of £Nil (2023: £293,996) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.