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Registration number: 01317433

Alford Coal Supplies Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2024

 

Alford Coal Supplies Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Alford Coal Supplies Limited

Company Information

Directors

J M Spence

M Spence

J Scott

S Collingwood

C J Spence

Company secretary

J M Spence

Registered office

The Fireside Shop
Church Street
Alford
Lincolnshire
LN13 9EG

Bankers

Lloyds Bank Plc
24 Mercer Row
Louth
Lincolnshire
LN11 9JH

 

Alford Coal Supplies Limited

(Registration number: 01317433)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

336,034

264,918

Current assets

 

Stocks

5

696,580

807,226

Debtors

6

87,624

77,695

Cash at bank and in hand

 

452,993

478,503

 

1,237,197

1,363,424

Creditors: Amounts falling due within one year

7

(556,501)

(631,693)

Net current assets

 

680,696

731,731

Total assets less current liabilities

 

1,016,730

996,649

Provisions for liabilities

(43,398)

(36,455)

Net assets

 

973,332

960,194

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

973,232

960,094

Shareholders' funds

 

973,332

960,194

For the financial year ending 30 September 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the Company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the Directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 13 February 2025 and signed on its behalf by:
 

.........................................
S Collingwood
Director

 

Alford Coal Supplies Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

1

General information

The company is a private company limited by share capital incorporated in England and Wales and the company registration number is 01317433.

The address of its registered office is:
The Fireside Shop
Church Street
Alford
Lincolnshire
LN13 9EG
England

These financial statements cover the individual entity Alford Coal Supplies Limited.

These financial statements were authorised for issue by the Board on 13 February 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 including Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in Sterling which is the functional currency of the Company and have been expressed rounded to the nearest pound.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.

 

Alford Coal Supplies Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial
statements of current and previous periods. It is recognised in respect of all timing differences, with certain
exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the
balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued
non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and equipment

20% per annum on cost

Office equipment

20% per annum on cost

Motor vehicles

20% per annum on cost

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the Company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Alford Coal Supplies Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the Company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the Company (including Directors) during the year, was 10 (2023 - 10).

4

Tangible assets

Land and buildings
£

Office equipment
 £

Motor vehicles
 £

Plant and equipment
£

Total
£

Cost or valuation

At 1 October 2023

74,199

8,637

257,861

166,093

506,790

Additions

-

-

127,649

8,807

136,456

Disposals

-

-

(95,884)

-

(95,884)

At 30 September 2024

74,199

8,637

289,626

174,900

547,362

Depreciation

At 1 October 2023

-

6,541

185,346

49,985

241,872

Charge for the year

-

626

38,702

26,010

65,338

Eliminated on disposal

-

-

(95,882)

-

(95,882)

At 30 September 2024

-

7,167

128,166

75,995

211,328

Carrying amount

At 30 September 2024

74,199

1,470

161,460

98,905

336,034

At 30 September 2023

74,199

2,096

72,515

116,108

264,918

5

Stocks

2024
£

2023
£

Finished goods and goods for resale

696,580

807,226

 

Alford Coal Supplies Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

6

Debtors

2024
£

2023
£

Trade debtors

53,213

24,686

Other debtors

26,647

46,039

Prepayments and accrued income

7,764

6,970

Total current trade and other debtors

87,624

77,695

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

322,434

358,089

Taxation and social security

 

8,403

7,526

Other creditors

 

172,139

207,978

Accruals and deferred income

 

53,525

58,100

 

556,501

631,693

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary Shares of £1 each

100

100

100

100

       

9

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Other borrowings

154,557

189,380