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COMPANY REGISTRATION NUMBER: 14154540
Asset Lifecycle Solutions Ltd
Filleted Unaudited Financial Statements
30 September 2024
Asset Lifecycle Solutions Ltd
Statement of Financial Position
30 September 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
5
108,233
118,194
Current assets
Debtors
6
119,535
127,787
Cash at bank and in hand
31,938
30,934
---------
---------
151,473
158,721
Creditors: amounts falling due within one year
7
50,749
102,846
---------
---------
Net current assets
100,724
55,875
---------
---------
Total assets less current liabilities
208,957
174,069
Creditors: amounts falling due after more than one year
8
627,999
450,999
---------
---------
Net liabilities
( 419,042)
( 276,930)
---------
---------
Capital and reserves
Called up share capital
1
1
Profit and loss account
( 419,043)
( 276,931)
---------
---------
Shareholders deficit
( 419,042)
( 276,930)
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Asset Lifecycle Solutions Ltd
Statement of Financial Position (continued)
30 September 2024
These financial statements were approved by the board of directors and authorised for issue on 25 June 2025 , and are signed on behalf of the board by:
Mr B P Griffin
Director
Company registration number: 14154540
Asset Lifecycle Solutions Ltd
Notes to the Financial Statements
Year ended 30 September 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 3 Christleton Court, Manor Park, Runcorn, Cheshire, WA7 1ST.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. 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.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
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:
Long leasehold property
-
10% straight line
Plant and machinery
-
10% straight line
Fixtures and fittings
-
25% straight line
Motor vehicles
-
25% reducing balance
Equipment
-
25% straight line
Impairment of fixed assets
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. For the purposes of impairment testing, 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 largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
Creditors
Short term trade 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. Employee numbers
The average number of persons employed by the company during the year amounted to 13 (2023: 6 ).
5. Tangible assets
Long leasehold property
Plant and machinery
Fixtures and fittings
Motor vehicles
Equipment
Total
£
£
£
£
£
£
Cost
At 1 Oct 2023
34,483
40,670
2,280
55,810
3,646
136,889
Additions
1,049
8,139
1,986
11,174
--------
--------
-------
--------
-------
---------
At 30 Sep 2024
35,532
48,809
2,280
55,810
5,632
148,063
--------
--------
-------
--------
-------
---------
Depreciation
At 1 Oct 2023
1,994
2,879
190
13,010
622
18,695
Charge for the year
3,494
4,863
570
10,949
1,259
21,135
--------
--------
-------
--------
-------
---------
At 30 Sep 2024
5,488
7,742
760
23,959
1,881
39,830
--------
--------
-------
--------
-------
---------
Carrying amount
At 30 Sep 2024
30,044
41,067
1,520
31,851
3,751
108,233
--------
--------
-------
--------
-------
---------
At 30 Sep 2023
32,489
37,791
2,090
42,800
3,024
118,194
--------
--------
-------
--------
-------
---------
6. Debtors
2024
2023
£
£
Trade debtors
91,373
12,787
Other debtors
28,162
115,000
---------
---------
119,535
127,787
---------
---------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
11,014
4,957
Accruals and deferred income
10,580
86,578
Social security and other taxes
26,640
10,094
Other creditors
2,515
1,217
--------
---------
50,749
102,846
--------
---------
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Director loan accounts
627,999
450,999
---------
---------
9. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
Mr B P Griffin
( 450,999)
( 177,000)
( 627,999)
---------
---------
---------
2023
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
Mr B P Griffin
( 450,999)
( 450,999)
----
---------
---------