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REGISTERED NUMBER: 01024800 (England and Wales)












ALTRON COMMUNICATIONS EQUIPMENT LIMITED

STRATEGIC REPORT,

REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED

30 JUNE 2024






ALTRON COMMUNICATIONS EQUIPMENT LIMITED (REGISTERED NUMBER: 01024800)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024




Page

Company Information 1

Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 5

Income Statement 8

Other Comprehensive Income 9

Balance Sheet 10

Statement of Changes in Equity 11

Notes to the Financial Statements 12


ALTRON COMMUNICATIONS EQUIPMENT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: Mr E Barraclough
Mr S R Jones



SECRETARY: Mr S R Jones



REGISTERED OFFICE: Tower House
Parc Hendre
Capel Hendre
Ammanford
Carmarthenshire
SA18 3SJ



REGISTERED NUMBER: 01024800 (England and Wales)



SENIOR STATUTORY AUDITOR: Henry Lloyd-Davies



AUDITORS: Bevan Buckland LLP
Chartered Accountants
And Statutory Auditors
Ground Floor Cardigan House
Castle Court
Swansea Enterprise Park
Swansea
SA7 9LA

ALTRON COMMUNICATIONS EQUIPMENT LIMITED (REGISTERED NUMBER: 01024800)

STRATEGIC REPORT
FOR THE YEAR ENDED 30 JUNE 2024

The directors present their strategic report for the year ended 30 June 2024.

REVIEW OF BUSINESS
The principal activity of the company is the design, manufacture and supply of CCTV towers, columns and brackets. Other significant activities are laser cutting and sheet metal fabrication.

The economic and political climate continues to be challenging, resulting in volatility with steel and galvanizing prices and inflationary cost effects remaining.

The results for the year as set out on page 8, show a profit on ordinary activities before tax of £233,723 (2023: £285,354). The shareholders' funds of the company total £6,567,471 (2023: £5,001,980).

The company will continue to focus on providing excellent customer service, developing its products and processes, whilst remaining profitable through the continuing global economic challenges. It will also focus on taking opportunities that are opening up through product development, gaining approvals and certifications and business development.

PRINCIPAL RISKS AND UNCERTAINTIES
The key risks to the business at present are the national and global economic uncertainties.

Energy costs stabilised at a substantially increased level compared with historical costs, but were mitigated by investment in more energy efficient machinery.

Shipping route disruptions due to geopolitical factors are adding leadtime and cost to Exports

While Material prices have softened, there is the ongoing threat of future volatility. Exchange rate effects on purchases, including galvanizing (based on zinc priced in dollars) are not within our control.

FINANCIAL KEY PERFORMANCE INDICATORS
The company's main key performance indicators are as follows :-

2024 2023
Gross profit £2,368,328 £2,354,419
Gross Profit % 31.85% 31.92%
Profit before tax £233,723 £285,354
Shareholders funds £6,567,471 £5,001,980

ENVIRONMENTAL AND EMPLOYEE MATTERS
The company recycles as much waste as possible, including metals, paper and cardboard, minimising the amount of general waste. Energy use has dropped significantly following investment in energy-efficient plant and machinery.

Investments have been made and further investments are planned, to significantly reduce energy consumption.

The company meets regularly with employees and is an equal opportunities employer, many employees have had opportunities for progression.

ON BEHALF OF THE BOARD:





Mr S R Jones - Director


28 November 2024

ALTRON COMMUNICATIONS EQUIPMENT LIMITED (REGISTERED NUMBER: 01024800)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 30 JUNE 2024

The directors present their report with the financial statements of the company for the year ended 30 June 2024.

DIVIDENDS
No dividends will be distributed for the year ended 30 June 2024.

RESEARCH AND DEVELOPMENT
The company continues to invest in research and development to ensure it remains competitive and develops the most relevant products to ensure future success.

FUTURE DEVELOPMENTS
The company continues to ensure it is well placed to benefit from future opportunities as they arise.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 July 2023 to the date of this report.

Mr E Barraclough
Mr S R Jones

FINANCIAL INSTRUMENTS
The company's financial instruments comprise bank balances, bank overdrafts, trade creditors, trade debtors, finance leasing, and hire purchase agreements. The main purpose of these instruments is to raise funds for the company's operations and to finance to company's operations.
Due to the nature of the financial instruments used by the company there is no exposure risk. The company's approach to managing other risks applicable to the financial statements is shown below.
In respect of bank balances, the liquidity risk is managed by maintaining a substantial amount of liquid funds to meet foreseeable payments as they fall due without recourse to borrowing for working capital.
Trade debtors are managed in respect of credit and cash flow risks by policies concerning the credit offered to customers and the regular monitoring of amounts outstanding for both time and credit limits.
Trade creditors liquidity is managed by ensuring sufficient funds are available to meet amounts due.

DIRECTORS' RESPONSIBILITIES STATEMENT
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have 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 directors must not approve the financial statements unless they are 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 directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are 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. They are 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.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

ALTRON COMMUNICATIONS EQUIPMENT LIMITED (REGISTERED NUMBER: 01024800)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 30 JUNE 2024


AUDITORS
The auditors, Bevan Buckland LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





Mr S R Jones - Director


28 November 2024

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
ALTRON COMMUNICATIONS EQUIPMENT LIMITED

Opinion
We have audited the financial statements of Altron Communications Equipment Limited (the 'company') for the year ended 30 June 2024 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of 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:
-give a true and fair view of the state of the company's affairs as at 30 June 2024 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

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 Auditors' 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 directors' 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 directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

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.

In connection with our audit of the financial statements, 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 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 the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

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 Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
ALTRON COMMUNICATIONS EQUIPMENT LIMITED


Responsibilities of directors
As explained more fully in the Directors' Responsibilities Statement set out on page three, the directors are 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 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 directors are 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 directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' 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 a Report of the Auditors 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.

Extent to which the audit was considered capable of detecting irregularities, including fraud
We identify and assess the risks of material misstatement of the Financial Statements, whether due to fraud or error, and then, design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion.

We discussed our audit independence complying with the Revised Ethical Standard 2019 with the engagement team members whilst planning the audit and continually monitored our independence throughout the process.

Identifying and assessing potential risks related to irregularities.
In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:

- enquiring of management, including obtaining and reviewing support documentation, concerning the company's policies and procedures relating to:
- identifying, evaluating, and complying with laws and regulations and whether they were aware of any instances of non-compliance;
- detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud;
- internal controls established to mitigate risks related to fraud or non-compliance with laws and regulations;
- discussing among the engagement team how and where fraud might occur in the Financial Statements and any potential indicators of fraud.
- obtaining an understanding of the legal and regulatory frameworks that the company operates in, focusing on those laws and regulations that had a direct effect on the Financial Statements or that had a fundamental effect on the operations of the company, The key laws and regulations we considered in this context included the UK Companies Act and relevant tax legislation.

Audit response to risks identified
In addition to the above, our procedures to respond to risks identified included the following:

- reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with relevant laws and regulations;
- enquiring of management concerning actual and potential litigation and claims; performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;
- reading minutes of meetings of those charged with governance and reviewing correspondence with HMRC;
- in addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments;
- assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and
- evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
ALTRON COMMUNICATIONS EQUIPMENT LIMITED


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 a Report of the Auditors 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.




Henry Lloyd-Davies (Senior Statutory Auditor)
for and on behalf of Bevan Buckland LLP
Chartered Accountants
And Statutory Auditors
Ground Floor Cardigan House
Castle Court
Swansea Enterprise Park
Swansea
SA7 9LA

28 November 2024

ALTRON COMMUNICATIONS EQUIPMENT LIMITED (REGISTERED NUMBER: 01024800)

INCOME STATEMENT
FOR THE YEAR ENDED 30 JUNE 2024

2024 2023
Notes £    £   

TURNOVER 5 7,435,274 7,374,850

Cost of sales 5,066,946 5,020,431
GROSS PROFIT 2,368,328 2,354,419

Administrative expenses 2,332,920 2,129,207
35,408 225,212

Other operating income 6 88,498 -
OPERATING PROFIT 8 123,906 225,212

Interest receivable and similar income 109,817 60,142
PROFIT BEFORE TAXATION 233,723 285,354

Tax on profit 9 48,652 63,862
PROFIT FOR THE FINANCIAL YEAR 185,071 221,492

ALTRON COMMUNICATIONS EQUIPMENT LIMITED (REGISTERED NUMBER: 01024800)

OTHER COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 JUNE 2024

2024 2023
Notes £    £   

PROFIT FOR THE YEAR 185,071 221,492


OTHER COMPREHENSIVE INCOME
Revaluation 1,380,420 -
Income tax relating to other comprehensive
income

-

-
OTHER COMPREHENSIVE INCOME FOR
THE YEAR, NET OF INCOME TAX

1,380,420

-
TOTAL COMPREHENSIVE INCOME FOR
THE YEAR

1,565,491

221,492

ALTRON COMMUNICATIONS EQUIPMENT LIMITED (REGISTERED NUMBER: 01024800)

BALANCE SHEET
30 JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 10 3,745,208 1,741,573

CURRENT ASSETS
Stocks 11 1,053,950 1,133,810
Debtors 12 1,541,715 1,373,679
Cash at bank and in hand 2,225,217 2,269,868
4,820,882 4,777,357
CREDITORS
Amounts falling due within one year 13 1,825,237 1,392,220
NET CURRENT ASSETS 2,995,645 3,385,137
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,740,853

5,126,710

PROVISIONS FOR LIABILITIES 14 173,382 124,730
NET ASSETS 6,567,471 5,001,980

CAPITAL AND RESERVES
Called up share capital 15 200,000 200,000
Retained earnings 16 6,367,471 4,801,980
SHAREHOLDERS' FUNDS 6,567,471 5,001,980

The financial statements were approved by the Board of Directors and authorised for issue on 28 November 2024 and were signed on its behalf by:





Mr E Barraclough - Director


ALTRON COMMUNICATIONS EQUIPMENT LIMITED (REGISTERED NUMBER: 01024800)

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 JUNE 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 July 2022 200,000 4,580,488 4,780,488

Changes in equity
Total comprehensive income - 221,492 221,492
Balance at 30 June 2023 200,000 4,801,980 5,001,980

Changes in equity
Total comprehensive income - 1,565,491 1,565,491
Balance at 30 June 2024 200,000 6,367,471 6,567,471

ALTRON COMMUNICATIONS EQUIPMENT LIMITED (REGISTERED NUMBER: 01024800)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1. STATUTORY INFORMATION

Altron Communications Equipment Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland. The financial statements are prepared in sterling, which is the functional currency of the entity.

Financial Reporting Standard 102 - reduced disclosure exemptions
The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

the requirements of Section 7 Statement of Cash Flows;
the requirement of paragraph 33.7.

Turnover
Turnover is measured at the far value of the consideration received or receivable for goods supplied and services rendered, net of discounts and value added tax and other sales taxes.
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.

ALTRON COMMUNICATIONS EQUIPMENT LIMITED (REGISTERED NUMBER: 01024800)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

3. ACCOUNTING POLICIES - continued

Tangible fixed assets
Tangible assets are initially recorded at cost, and is subsequently stated at cost less any accumulated depreciation and any accumulated impairment losses.

Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

The company adds to the carrying amount of an item of fixed assets the cost of replacing part of such an item when that cost is incurred, if the replacement part is expected to provide incremental future benefits to the company. The carrying amount of the replaced part is derecognised. Repairs and maintenance are charged to the profit and loss during the period in which they are incurred.

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:

Freehold property- 2%straight line
Plant and machinery- 12.5 and 20%straight line
Fittings, fixtures and equipment- 12.5 and 20%straight line
Motor vehicles- 25%reducing balance

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Impairment
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.
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 are largely independent of the cash inflows from other assets or group of assets.

Stocks
Stocks are measured at the lower of the 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 stocks to their present location and condition on a first in, first out basis.

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, loans to related parties and investments in non-puttable ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year) including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivable, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration, expected to be paid and received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an out-right short term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

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.

For financial assets measure at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of the estimated cash flows discounted at the asset's effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the company would receive for the asset if it were sold at the balance sheet date.

ALTRON COMMUNICATIONS EQUIPMENT LIMITED (REGISTERED NUMBER: 01024800)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

3. ACCOUNTING POLICIES - continued

Taxation
Taxation for the year 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 year 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.

Research and development
Research expenditure is written off in the year in which it is incurred.
Development expenditure incurred is capitalised as an intangible asset only when all of the following criteria are met:
-It is technically feasible to complete the intangible asset so that it will be available for use or sale;
-There is the intention to complete the intangible asset and use or sell it;
-There is the ability to use or sell the intangible asset;
-The use or sale of the intangible asset will generate probable future economic benefits;

-
There are adequate technical, financial and other resources available to complete the development and to
use or sell the intangible asset; and
-The expenditure attributable to the intangible asset during its development can be measured reliably.
Expenditure that does not meet the above criteria is expensed as incurred..

Foreign currencies
Foreign currency translations are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to profit or loss.

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.

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 in finance costs in profit or loss in the period it arises.

ALTRON COMMUNICATIONS EQUIPMENT LIMITED (REGISTERED NUMBER: 01024800)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

3. ACCOUNTING POLICIES - continued

Defined contribution plans
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into separate pension funds. Once the contributions have been paid the company has no further payment obligations.

Debtors
Short term debtors are measured at the transaction price, less any impairment.

Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

4. CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

In the process of applying the company's accounting policies, which are described below, management has made some judgements that have an effect on the amounts recognised in the financial statements. There are also key assumptions concerning the future, and other key sources of estimation uncertainty at the balance sheet date. These main areas are in relation to stock, debtor provisions and the useful economic lives of the company's fixed assets, that have a risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

5. TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the company.

An analysis of turnover by geographical market is given below:

2024 2023
£    £   
United Kingdom 5,996,396 6,678,666
Europe 167,900 172,728
Rest of the World 1,270,978 523,456
7,435,274 7,374,850

6. OTHER OPERATING INCOME
2024 2023
£    £   
Sundry receipts 88,498 -

7. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 2,460,018 2,242,138
Social security costs 249,995 230,349
Other pension costs 269,772 67,372
2,979,785 2,539,859

The average number of employees during the year was as follows:
2024 2023

Production staff 49 49
Marketing & distribution staff 18 18
Administration staff 11 11
78 78

ALTRON COMMUNICATIONS EQUIPMENT LIMITED (REGISTERED NUMBER: 01024800)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

7. EMPLOYEES AND DIRECTORS - continued

2024 2023
£    £   
Directors' remuneration 214,187 201,910
Directors' pension contributions to money purchase schemes 216,964 16,074

Information regarding the highest paid director is as follows:
2024 2023
£    £   
Emoluments etc 113,094 106,612

8. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

2024 2023
£    £   
Depreciation - owned assets 219,947 187,861
Profit on disposal of fixed assets (2,900 ) (26,007 )
Auditors' remuneration 14,532 13,170
Auditors' remuneration for non audit work 1,300 1,500

9. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax - 73,612

Deferred tax 48,652 (9,750 )
Tax on profit 48,652 63,862

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

2024 2023
£    £   
Profit before tax 233,723 285,354
Profit multiplied by the standard rate of corporation tax in the UK of 25%
(2023 - 20.500%)

58,431

58,498

Effects of:
Expenses not deductible for tax purposes (64,729 ) (4,628 )
Income not taxable for tax purposes (22,125 ) -
Depreciation in excess of capital allowances 8,443 7,199
Rate changes - 2,793
Losses carried forward 68,632 -

Total tax charge 48,652 63,862

ALTRON COMMUNICATIONS EQUIPMENT LIMITED (REGISTERED NUMBER: 01024800)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

9. TAXATION - continued

Tax effects relating to effects of other comprehensive income

2024
Gross Tax Net
£    £    £   
Revaluation 1,380,420 - 1,380,420

From 6th April 2023 the rate of corporation tax increased to 25% from 19%.

10. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property Machinery fittings vehicles Totals
£    £    £    £    £   
COST OR VALUATION
At 1 July 2023 1,791,046 2,012,007 245,817 713,585 4,762,455
Additions - 822,182 20,980 - 843,162
Disposals - (270,406 ) - - (270,406 )
Revaluations 708,954 - - - 708,954
At 30 June 2024 2,500,000 2,563,783 266,797 713,585 6,044,165
DEPRECIATION
At 1 July 2023 640,595 1,812,298 200,665 367,324 3,020,882
Charge for year 30,871 92,721 16,560 79,795 219,947
Eliminated on disposal - (270,406 ) - - (270,406 )
Revaluation adjustments (671,466 ) - - - (671,466 )
At 30 June 2024 - 1,634,613 217,225 447,119 2,298,957
NET BOOK VALUE
At 30 June 2024 2,500,000 929,170 49,572 266,466 3,745,208
At 30 June 2023 1,150,451 199,709 45,152 346,261 1,741,573

Cost or valuation at 30 June 2024 is represented by:

Fixtures
Freehold Plant and and Motor
property Machinery fittings vehicles Totals
£    £    £    £    £   
Valuation in 2024 708,954 - - - 708,954
Cost 1,791,046 2,563,783 266,797 713,585 5,335,211
2,500,000 2,563,783 266,797 713,585 6,044,165

If freehold land and buildings had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 1,791,046 1,791,046
Aggregate depreciation 671,466 640,595

Value of land in freehold land and buildings 247,500 247,500

Freehold land and buildings were valued on an open market basis on 15 November 2023 by R J Chartered Surveyors .

ALTRON COMMUNICATIONS EQUIPMENT LIMITED (REGISTERED NUMBER: 01024800)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

11. STOCKS
2024 2023
£    £   
Raw materials 584,604 601,349
Finished goods 469,346 532,461
1,053,950 1,133,810

12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,328,279 1,255,896
Other debtors 90,898 2,400
Tax - 5,646
Prepayments and accrued income 122,538 109,737
1,541,715 1,373,679

Short term debtors are measured at transaction price, less any impairment.

13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 1,068,210 750,297
Tax - 73,612
Social security and other taxes 62,266 67,273
VAT 141,028 126,797
Other creditors 10,777 9,428
Accruals and deferred income 542,956 364,813
1,825,237 1,392,220

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

14. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Accelerated capital allowances 293,109 125,756
Tax losses carried forward (68,632 ) -
Other timing differences (51,095 ) (1,026 )
173,382 124,730

Deferred
tax
£   
Balance at 1 July 2023 124,730
Provided during year 48,652
Balance at 30 June 2024 173,382

15. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
200,000 Ordinary 1 200,000 200,000

ALTRON COMMUNICATIONS EQUIPMENT LIMITED (REGISTERED NUMBER: 01024800)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

16. RESERVES
Retained
earnings
£   

At 1 July 2023 4,801,980
Profit for the year 185,071
Revaluation reserve 1,380,420
At 30 June 2024 6,367,471

17. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

18. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr E Barraclough.

The parent company is Altron Manufacturing and Engineering Limited, a company incorporated in the United Kingdom, which owns 100% of the issued share capital of the company. The directors consider that the ultimate controlling party is Mr E Barraclough (a director of Altron Manufacturing and Engineering Limited and a director of Altron Communications Equipment Limited) by virtue of holding the majority of the shares in the parent company.