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Registered number: 00640241
Alans (Wigan) Limited
Financial Statements
For The Year Ended 30 April 2024
ADC Accountants Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 00640241
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 71,229 77,843
71,229 77,843
CURRENT ASSETS
Stocks 5 105,243 125,203
Debtors 6 46,483 41,116
Cash at bank and in hand 17,314 80,656
169,040 246,975
Creditors: Amounts Falling Due Within One Year 7 (119,307 ) (172,496 )
NET CURRENT ASSETS (LIABILITIES) 49,733 74,479
TOTAL ASSETS LESS CURRENT LIABILITIES 120,962 152,322
Creditors: Amounts Falling Due After More Than One Year 8 (11,820 ) (47,553 )
NET ASSETS 109,142 104,769
CAPITAL AND RESERVES
Called up share capital 9 9,250 9,250
Profit and Loss Account 99,892 95,519
SHAREHOLDERS' FUNDS 109,142 104,769
Page 1
Page 2
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs Julie Woods
Director
28/01/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Alans (Wigan) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 00640241 . The registered office is 47 - 49 Wallgate, Wigan, Lancs, WN1 1BE.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 2.25% straight line
Plant & Machinery 10% straight line
Fixtures & Fittings 25% reducing balance
Computer Equipment 50% reducing balance
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 8 (2023: 8)
8 8
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 May 2023 300,000 3,402 44,989 754 349,145
Additions - - - 1,226 1,226
As at 30 April 2024 300,000 3,402 44,989 1,980 350,371
Depreciation
As at 1 May 2023 224,064 2,381 44,370 487 271,302
Provided during the period 6,750 341 155 594 7,840
As at 30 April 2024 230,814 2,722 44,525 1,081 279,142
...CONTINUED
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Net Book Value
As at 30 April 2024 69,186 680 464 899 71,229
As at 1 May 2023 75,936 1,021 619 267 77,843
5. Stocks
2024 2023
£ £
Materials 105,243 125,203
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors - 25,309
Other debtors 46,483 15,275
Other taxes and social security - 532
46,483 41,116
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 45,574 124,504
Bank loans and overdrafts 20,973 20,973
Corporation tax 14,041 9,825
Other taxes and social security 4,462 -
VAT 20,133 6,031
Other creditors 42 (550 )
Accruals and deferred income 13,835 10,505
Directors' loan accounts 247 1,208
119,307 172,496
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 11,820 47,553
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 9,250 9,250
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