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REGISTERED NUMBER: 01632650 (England and Wales)
















































Financial Statements

for the Year Ended 31 December 2024

for

Altex Engineering Limited

Altex Engineering Limited (Registered number: 01632650)






Contents of the Financial Statements
for the Year Ended 31 December 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Altex Engineering Limited

Company Information
for the Year Ended 31 December 2024







DIRECTORS: J W Jackett
Mrs S Jackett
A F Brewer





SECRETARY: Mrs S Jackett





REGISTERED OFFICE: Beversbrook Business Park
Stanier Road
Calne
Wiltshire
SN11 9PX





REGISTERED NUMBER: 01632650 (England and Wales)





ACCOUNTANTS: Mander Duffill
Chartered Accountants
The Old Post Office
41-43 Market Place
Chippenham
Wiltshire
SN15 3HR

Altex Engineering Limited (Registered number: 01632650)

Balance Sheet
31 December 2024

31.12.24 31.12.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 58,748 70,498
Tangible assets 5 2,182,423 2,254,881
Investments 6 2 2
2,241,173 2,325,381

CURRENT ASSETS
Stocks 108,082 38,723
Debtors 7 466,871 420,126
Cash at bank and in hand 222,175 558,795
797,128 1,017,644
CREDITORS
Amounts falling due within one year 8 362,336 477,957
NET CURRENT ASSETS 434,792 539,687
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,675,965

2,865,068

CREDITORS
Amounts falling due after more than one
year

9

(257,678

)

(412,266

)

PROVISIONS FOR LIABILITIES (126,969 ) (287,668 )
NET ASSETS 2,291,318 2,165,134

CAPITAL AND RESERVES
Called up share capital 112 112
Retained earnings 2,291,206 2,165,022
SHAREHOLDERS' FUNDS 2,291,318 2,165,134

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Altex Engineering Limited (Registered number: 01632650)

Balance Sheet - continued
31 December 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 April 2025 and were signed on its behalf by:





J W Jackett - Director


Altex Engineering Limited (Registered number: 01632650)

Notes to the Financial Statements
for the Year Ended 31 December 2024

1. STATUTORY INFORMATION

Altex Engineering 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Land and buildings - 2% on cost on buildings only
Plant and machinery etc - 33% on reducing balance, 25% on reducing balance, 10% on cost, 10% on reducing balance and 2% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Stocks have been valued at the lower of cost and estimated selling price less costs to sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacture or completion.

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.


Altex Engineering Limited (Registered number: 01632650)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 36 (2023 - 41 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2024
and 31 December 2024 117,498
AMORTISATION
At 1 January 2024 47,000
Charge for year 11,750
At 31 December 2024 58,750
NET BOOK VALUE
At 31 December 2024 58,748
At 31 December 2023 70,498

Altex Engineering Limited (Registered number: 01632650)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2024 1,044,845 2,749,460 3,794,305
Additions - 141,098 141,098
Disposals - (8,950 ) (8,950 )
At 31 December 2024 1,044,845 2,881,608 3,926,453
DEPRECIATION
At 1 January 2024 316,228 1,223,196 1,539,424
Charge for year 20,901 191,261 212,162
Eliminated on disposal - (7,556 ) (7,556 )
At 31 December 2024 337,129 1,406,901 1,744,030
NET BOOK VALUE
At 31 December 2024 707,716 1,474,707 2,182,423
At 31 December 2023 728,617 1,526,264 2,254,881

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:

Plant and
machinery
etc
£   
COST
At 1 January 2024 1,330,755
Additions 65,534
Transfer to ownership (176,639 )
At 31 December 2024 1,219,650
DEPRECIATION
At 1 January 2024 422,572
Charge for year 87,836
Transfer to ownership (81,288 )
At 31 December 2024 429,120
NET BOOK VALUE
At 31 December 2024 790,530
At 31 December 2023 908,183

Altex Engineering Limited (Registered number: 01632650)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2024
and 31 December 2024 2
NET BOOK VALUE
At 31 December 2024 2
At 31 December 2023 2

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade debtors 328,264 384,374
Other debtors 138,607 35,752
466,871 420,126

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade creditors 55,710 112,998
Other creditors 306,626 364,959
362,336 477,957

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.24 31.12.23
£    £   
Other creditors 257,678 412,266