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Registered number: 04509906
Alcosa Engineering Limited
Unaudited Financial Statements
For The Year Ended 30 June 2024
Richard Day Accountants Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 04509906
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 3,740 4,991
3,740 4,991
CURRENT ASSETS
Stocks 5 52,630 70,463
Debtors 6 108,808 104,092
Cash at bank and in hand 8,790 19,659
170,228 194,214
Creditors: Amounts Falling Due Within One Year 7 (40,515 ) (44,678 )
NET CURRENT ASSETS (LIABILITIES) 129,713 149,536
TOTAL ASSETS LESS CURRENT LIABILITIES 133,453 154,527
PROVISIONS FOR LIABILITIES
Deferred Taxation (935 ) (1,248 )
NET ASSETS 132,518 153,279
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 132,418 153,179
SHAREHOLDERS' FUNDS 132,518 153,279
Page 1
Page 2
For the year ending 30 June 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
Mr Paul McKrell
Director
03/03/2025
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
Alcosa Engineering Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04509906 . The registered office is 1 Penfold Drive, Wymondham, Norfolk, NR18 0WZ.
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. Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3. 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.
2.4. 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:
Plant & Machinery 25% reducing balance
Motor Vehicles 25% reducing balance
2.5. 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.
2.6. Taxation
The 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 years 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.
...CONTINUED
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2.6. Taxation - continued
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 assets reflect 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: 5 (2023: 5)
5 5
4. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 July 2023 70,097 36,221 106,318
As at 30 June 2024 70,097 36,221 106,318
Depreciation
As at 1 July 2023 68,580 32,747 101,327
Provided during the period 382 869 1,251
As at 30 June 2024 68,962 33,616 102,578
Net Book Value
As at 30 June 2024 1,135 2,605 3,740
As at 1 July 2023 1,517 3,474 4,991
5. Stocks
2024 2023
£ £
Materials 52,630 70,463
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 5,717 9,798
Prepayments and accrued income 1,535 1,294
VAT 3,756 -
Amounts owed by associates 97,800 93,000
108,808 104,092
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Page 5
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 4,531 6,789
Corporation tax 6,526 11,007
Other taxes and social security 1,928 1,677
VAT - 2,452
Other creditors 23,189 19,660
Accruals and deferred income 3,433 2,100
Directors' loan accounts 908 993
40,515 44,678
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
9. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year 3,159 3,159
Later than one year and not later than five years 9,214 12,373
12,373 15,532
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