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Registration number: 09049319

TE Allum Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2024

 

TE Allum Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 12

 

TE Allum Limited

Company Information

Directors

Mr Thomas Edward Allum

Mrs Karen Allum

Registered office

Abbey Labels
Lamdin Road
Bury St Edmunds
Suffolk
IP32 6NU

Accountants

Scrutton Bland Limited
Chartered Accountants59 Abbeygate Street
Bury St Edmunds
Suffolk
IP33 1LB

 

TE Allum Limited

(Registration number: 09049319)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

36,170

62,923

Investments

5

4,547,315

4,547,315

Other financial assets

6

754

-

 

4,584,239

4,610,238

Current assets

 

Debtors

7

6,096

4,629

Cash at bank and in hand

 

1,072,186

824,720

 

1,078,282

829,349

Creditors: Amounts falling due within one year

8

(364,335)

(412,111)

Net current assets

 

713,947

417,238

Total assets less current liabilities

 

5,298,186

5,027,476

Creditors: Amounts falling due after more than one year

8

(200,000)

(650,000)

Provisions for liabilities

(5,378)

-

Net assets

 

5,092,808

4,377,476

Capital and reserves

 

Called up share capital

9

101

101

Share premium reserve

1,119,999

1,119,999

Retained earnings

3,972,708

3,257,376

Shareholders' funds

 

5,092,808

4,377,476

For the financial 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.

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 and 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 28 March 2025 and signed on its behalf by:
 

 

TE Allum Limited

(Registration number: 09049319)
Balance Sheet as at 30 June 2024

.........................................
Mr Thomas Edward Allum
Director

 

TE Allum Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Abbey Labels
Lamdin Road
Bury St Edmunds
Suffolk
IP32 6NU
United Kingdom

These financial statements were authorised for issue by the Board on 28 March 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 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

Group accounts not prepared

The company is part of a small group. The company has taken advantage of the exemption provided by section 399 of the Companies Act 2006 and has not prepared group accounts.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the 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.

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.

 

TE Allum Limited

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet 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

Motor vehicles

33% straight line

Office equipment

33% straight line

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

TE Allum Limited

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

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

 

TE Allum Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 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 2 (2023 - 2).

 

TE Allum Limited

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

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 July 2023

2,165

75,220

77,385

Disposals

-

(31,470)

(31,470)

At 30 June 2024

2,165

43,750

45,915

Depreciation

At 1 July 2023

948

13,514

14,462

Charge for the year

722

14,021

14,743

Eliminated on disposal

-

(19,460)

(19,460)

At 30 June 2024

1,670

8,075

9,745

Carrying amount

At 30 June 2024

495

35,675

36,170

At 30 June 2023

1,217

61,706

62,923

5

Investments

2024
£

2023
£

Investments in subsidiaries

4,547,315

4,547,315

Subsidiaries

£

Cost or valuation

At 1 July 2023

4,547,315

Provision

Carrying amount

At 30 June 2024

4,547,315

At 30 June 2023

4,547,315

 

TE Allum Limited

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

6

Other financial assets (current and non-current)

Financial assets at cost less impairment
£

Total
£

Non-current financial assets

Cost or valuation

Additions

754

754

At 30 June 2024

754

754

Impairment

Carrying amount

At 30 June 2024

754

754

 

TE Allum Limited

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

7

Debtors

2024
£

2023
£

Prepayments

3,140

3,436

Other debtors

2,956

1,193

Less non-current portion

-

(1,123)

6,096

3,506

Details of non-current trade and other debtors

£Nil (2023 -£1,123) of other debtors is classified as non current.

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

10

325,000

394,073

Trade creditors

 

125

295

Taxation and social security

 

37,960

14,187

Accruals and deferred income

 

1,250

1,250

Other creditors

 

-

2,306

 

364,335

412,111

Creditors include loans and net obligations under hire purchase contracts which are secured of £325,000 (2023 - £394,073). Hire purchase contracts are secured on specific fixed assets and loans are secured by means of a fixed and floating charge over all assets of the company.

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

10

200,000

650,000

Loans of £200,000 (2023 - £650,000) are secured by means of a fixed and floating charge over all assets of the company.

 

TE Allum Limited

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

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

101

101

101

101

       

10

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Other borrowings

200,000

650,000

Current loans and borrowings

2024
£

2023
£

Hire purchase contracts

-

19,073

Other borrowings

325,000

375,000

325,000

394,073

 

TE Allum Limited

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

11

Related party transactions

Transactions with directors

2024

At 1 July 2023
£

Advances to director
£

Repayments by director
£

At 30 June 2024
£

The directors were provided with interest free loans which were repayable on demand

-

107,115

(104,159)

2,956

 

2023

At 1 July 2022
£

Advances to director
£

Repayments by director
£

At 30 June 2023
£

The directors were provided with interest free loans which were repayable on demand

-

120,256

(120,256)

-