Company registration number 09415450 (England and Wales)
ALDER OAK LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024
ALDER OAK LIMITED
COMPANY INFORMATION
Directors
B P Burke
F J Burke
E T Kilcullen
P E Burke
L P Teare
E M Sargent
Secretary
E T Kilcullen
Company number
09415450
Registered office
2 Leman Street
London
United Kingdom
E1W 9US
Auditor
Gravita II LLP
Aldgate Tower
2 Leman Street
London
E1 8FA
ALDER OAK LIMITED
CONTENTS
Page
Strategic report
1
Directors' report
2
Independent auditor's report
3 - 5
Statement of comprehensive income
6
Statement of financial position
7
Statement of changes in equity
8
Statement of cash flows
9
Notes to the financial statements
10 - 17
ALDER OAK LIMITED
STRATEGIC REPORT
FOR THE PERIOD ENDED 30 JUNE 2024
- 1 -
The directors present the strategic report for the period ended 30 June 2024.
Review of the business
The company’s core activity focuses on providing the infrastructure and support services crucial for the production of film and television content.
For the six months period, the company’s turnover of £8,960m (2023: £15,056m), with a profit before tax of £4,797m (2023: £10,733m). The company maintains a strong balance sheet and robust net liquid funds.
During the period, the company leased studios, stages, workshops and offices to production companies, additionally, the company generated further income from the construction of temporary stages.
Key performance indicators
The key performance indicators are the year on year income and profit before tax.
In the period for the 6 months, income was £8,960,543 and profit before tax decreased from £10,733,132 for the full year to £4,797,223 for the 6 month period.
Post Balance Sheet Event
On 9 July 2024, the company sold a its stock asset at a value which exceeded its cost.
The company continues to seek opportunities for new projects and are looking at new sites.
E T Kilcullen
Secretary
23 June 2025
ALDER OAK LIMITED
DIRECTORS' REPORT
FOR THE PERIOD ENDED 30 JUNE 2024
- 2 -
The directors present their annual report and financial statements for the period ended 30 June 2024.
Principal activities
The principal activity of the company continued to be that of a property trading company.
Directors
The directors who held office during the period and up to the date of signature of the financial statements were as follows:
B P Burke
F J Burke
E T Kilcullen
P E Burke
L P Teare
E M Sargent
Results and dividends
The results for the period are set out on page 6.
No ordinary dividends were paid. The directors do not recommend payment of a final dividend.
Statement of directors' responsibilities
The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.
Statement of disclosure to auditor
So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.
By order of the board
E T Kilcullen
Secretary
23 June 2025
ALDER OAK LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF ALDER OAK LIMITED
- 3 -
Opinion
We have audited the financial statements of Alder Oak Limited (the 'company') for the period ended 30 June 2024 which comprise the statement of comprehensive income, the statement of financial position, the statement of changes in equity, the statement of cash flows and notes to the financial statements, including 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 period 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.
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 Auditor's 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. However, because not all future events or conditions can be predicted this statement is not a guarantee as to the company's ability to continue as a going concern.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. 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. 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 course of 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 our audit:
the information given in the strategic report and the directors' report for the financial period for which the financial statements are prepared is consistent with the financial statements; and
the strategic report and the directors' report have been prepared in accordance with applicable legal requirements.
ALDER OAK LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF ALDER OAK LIMITED (CONTINUED)
- 4 -
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 directors' report.
We have nothing to report in respect of the following matters in relation to which 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.
Responsibilities of directors
As explained more fully in the directors' responsibilities statement, 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 is 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.
Auditor's 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 an auditor's report 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.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below. However, the primary responsibility for the prevention and detection of fraud rests with both those charged with governance of the entity and management.
The extent to which the audit was considered capable of detecting irregularities including fraud
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:
the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the company;
we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006 and taxation legislation;
we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and
identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.
ALDER OAK LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF ALDER OAK LIMITED (CONTINUED)
- 5 -
We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
understanding the business model as part of the control and business environment;
making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and
considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.
To address the risk of fraud through management bias and override of controls, we:
performed analytical procedures to identify any unusual or unexpected relationships;
tested journal entries to identify unusual transactions;
assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and
investigated the rationale behind significant or unusual transactions
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
agreeing financial statement disclosures to underlying supporting documentation;
enquiring of management as to actual and potential litigation and claims; and
reviewing correspondence and enquiring with the company of actual and potential non-compliance with laws and regulations.
There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's 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 an auditor's report 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.
Ian Hughes ACA (Senior Statutory Auditor)
For and on behalf of Gravita II LLP, Statutory Auditor
Chartered Accountants
Aldgate Tower
2 Leman Street
London
E1 8FA
26 June 2025
ALDER OAK LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE PERIOD ENDED 30 JUNE 2024
- 6 -
Period
Year
ended
ended
30 June
31 December
2024
2023
Notes
£
£
Turnover
2
8,960,543
15,056,720
Cost of sales
(2,750,285)
(2,447,961)
Gross profit
6,210,258
12,608,759
Administrative expenses
(1,380,298)
(2,234,003)
Other operating income
276,910
Operating profit
3
4,829,960
10,651,666
Interest receivable and similar income
5
86,965
82,932
Interest payable and similar expenses
6
(119,702)
(1,466)
Profit before taxation
4,797,223
10,733,132
Tax on profit
7
(1,209,380)
(2,578,514)
Profit for the financial period
3,587,843
8,154,618
The income statement has been prepared on the basis that all operations are continuing operations.
The company has taken advantage of the exemption under section 405 of the Companies Act 2006 thus the results of it's subsidiary undertakings for the year are not included within the above results.
ALDER OAK LIMITED
STATEMENT OF FINANCIAL POSITION
- 7 -
30 June 2024
31 December 2023
Notes
£
£
£
£
Fixed assets
Investments
8
73,171
73,171
Current assets
Stocks
10
42,391,646
42,625,740
Debtors
11
9,710,797
3,268,585
Cash at bank and in hand
2,593,104
4,127,950
54,695,547
50,022,275
Creditors: amounts falling due within one year
12
(7,641,057)
(6,555,628)
Net current assets
47,054,490
43,466,647
Net assets
47,127,661
43,539,818
Capital and reserves
Called up share capital
13
1,386
1,386
Share premium account
8,947,994
8,947,994
Profit and loss reserves
38,178,281
34,590,438
Total equity
47,127,661
43,539,818
These financial statements have been prepared in accordance with the provisions relating to medium-sized companies.
The company has taken advantage of the exemption under section 405 of the Companies Act 2006 thus the results for the year of it's subsidiary undertakings are not included within the above results.
The financial statements were approved by the board of directors and authorised for issue on 23 June 2025 and are signed on its behalf by:
F J Burke
Director
Company registration number 09415450 (England and Wales)
ALDER OAK LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 30 JUNE 2024
- 8 -
Share capital
Share premium account
Profit and loss reserves
Total
£
£
£
£
Balance at 1 January 2023
1,386
8,947,994
26,435,820
35,385,200
Year ended 31 December 2023:
Profit and total comprehensive income
-
-
8,154,618
8,154,618
Balance at 31 December 2023
1,386
8,947,994
34,590,438
43,539,818
Period ended 30 June 2024:
Profit and total comprehensive income
-
-
3,587,843
3,587,843
Balance at 30 June 2024
1,386
8,947,994
38,178,281
47,127,661
The company has taken advantage of the exemption under section 405 of the Companies Act 2006 thus the capital and reserves and results for the period for its subsidiary undertakings are not included within the above results.
ALDER OAK LIMITED
STATEMENT OF CASH FLOWS
FOR THE PERIOD ENDED 30 JUNE 2024
- 9 -
2024
2023
Notes
£
£
£
£
Cash flows from operating activities
Cash (absorbed by)/generated from operations
17
(1,422,045)
3,373,690
Interest paid
(119,702)
(1,466)
Income taxes paid
(2,494,307)
Net cash (outflow)/inflow from operating activities
(1,541,747)
877,917
Investing activities
Repayment of loans
(80,064)
(33,403)
Interest received
86,965
82,932
Net cash generated from investing activities
6,901
49,529
Net (decrease)/increase in cash and cash equivalents
(1,534,846)
927,446
Cash and cash equivalents at beginning of period
4,127,950
3,200,504
Cash and cash equivalents at end of period
2,593,104
4,127,950
ALDER OAK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024
- 10 -
1
Accounting policies
Company information
Alder Oak Limited is a private company limited by shares incorporated in England and Wales. The registered office is 2 Leman Street, London, United Kingdom, E1W 9US.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
The company has taken advantage of the exemption under section 405 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the subsidiary undertakings inclusion are not material for the purpose of giving a true and fair view. The financial statements present information about the company as an individual entity and not about its group.
1.2
Going concern
Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Reporting period
The company's accounting reference date was shortened to 30 June 2024 and the comparative amounts presented in the financial statements (including the related notes) are not entirely comparable.
1.4
Turnover
Turnover represents proceeds from sale of properties net of VAT and rental income earned on trading properties.
The rental income is recognised on an accruals basis and in accordance with the terms of the lease to include recharges of tenant expenses.
Other income represents proceeds from specific development projects net of VAT and income from exclusivity agreement.
1.5
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
1.6
Stocks
Stocks of property are stated at the lower of cost and estimated selling price less costs to complete and sell.
ALDER OAK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 11 -
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated gross development value is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
1.7
Cash at bank and in hand
Cash at bank and in hand are basic financial assets and include cash in hand.
1.8
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Other financial assets
Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment.
Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.
Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.
If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.
Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.
ALDER OAK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 12 -
1.9
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
1.10
Other operating income includes net construction costs recharged to tenants and proceeds from exclusivity agreement.
2
Turnover
An analysis of the company's turnover is as follows:
2024
2023
£
£
Turnover analysed by class of business
Rental income
6,094,941
13,056,720
Other Income
2,865,602
2,000,000
8,960,543
15,056,720
3
Operating profit
2024
2023
Operating profit for the period is stated after charging:
£
£
Fees payable to the company's auditor for the audit of the company's financial statements
15,000
24,625
Rent charge
36,523
-
4
Employees
The average monthly number of persons (including directors) employed by the company during the period was:
2024
2023
Number
Number
6
6
ALDER OAK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 JUNE 2024
- 13 -
5
Interest receivable and similar income
2024
2023
£
£
Interest income
Interest on bank deposits
34,051
49,364
Other interest income
52,914
33,568
Total income
86,965
82,932
2024
2023
Investment income includes the following:
£
£
Interest on financial assets not measured at fair value through profit or loss
86,965
82,932
6
Interest payable and similar expenses
2024
2023
£
£
Other finance costs:
Other interest
119,702
1,466
7
Taxation
2024
2023
£
£
Current tax
UK corporation tax on profits for the current period
1,209,380
2,531,280
Adjustments in respect of prior periods
47,234
Total current tax
1,209,380
2,578,514
ALDER OAK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 JUNE 2024
7
Taxation
(Continued)
- 14 -
The actual charge for the period can be reconciled to the expected charge for the period based on the profit or loss and the standard rate of tax as follows:
2024
2023
£
£
Profit before taxation
4,797,223
10,733,132
Expected tax charge based on the standard rate of corporation tax in the UK of 25.00% (2023: 23.50%)
1,199,306
2,522,286
Tax effect of expenses that are not deductible in determining taxable profit
10,848
6,901
Adjustments in respect of prior years
47,234
Effect of change in corporation tax rate
1,748
Depreciation on assets not qualifying for tax allowances
(774)
Non trade loan relationships
345
Taxation charge for the period
1,209,380
2,578,514
8
Fixed asset investments
2024
2023
Notes
£
£
Investments in subsidiaries
9
73,171
73,171
9
Subsidiaries
Details of the company's subsidiaries at 30 June 2024 are as follows:
Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Cabretta Holdings Limited
2 Leman Street, London, E1W 9US, United Kingdom
Ordinary
100.00
* Cabretta Bray Limited
2 Leman Street, London, E1W 9US, United Kingdom
Ordinary
100.00
The aggregate capital and reserves and the result for the year of the subsidiaries noted above was as follows:
Name of undertaking
Capital and Reserves
Profit/(Loss)
£
£
Cabretta Holdings Limited
110,000
* Cabretta Bray Limited
* Companies that are entitled to and have taken advantage of the exemption from audit available under Section 479A of the Companies Act 2006 relating to subsidiary companies. In order for the subsidiary to claim this exemption, the parent Company must guarantee all outstanding liabilities that the subsidiary is subject to at the year end under S479A. Accordingly, the Company guaranteed all outstanding liabilities that these companies were subject to as at 30 June 2024.
ALDER OAK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 JUNE 2024
- 15 -
10
Stocks
2024
2023
£
£
Property Stock
42,391,646
42,625,740
11
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
1,151,705
Corporation tax recoverable
782,441
782,441
Other debtors
7,162,980
2,362,380
Prepayments and accrued income
613,671
123,764
9,710,797
3,268,585
Included in other debtors is overdrawn directors loan balance of £2,431,814 (YE 31.12.2023 £2,351,750).
12
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
487,342
213,599
Corporation tax
3,740,659
2,531,279
Other taxation and social security
626,882
309,386
Other creditors
1,740,906
2,474,187
Accruals and deferred income
1,045,268
1,027,177
7,641,057
6,555,628
13
Share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of 1p each
138,614
138,614
1,386
1,386
14
Events after the reporting date
A company sold its stock asset to a third party on the 9th July 2024 with the sale proceeds exceeding the value of the stock cost.
15
Related party transactions
Transactions with related parties
During the period the company entered into the following transactions with related parties:
ALDER OAK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 JUNE 2024
15
Related party transactions
(Continued)
- 16 -
Management charge expense
2024
2023
£
£
Other related parties
874,735
1,501,842
The following amounts were outstanding at the reporting end date:
2024
2023
Amounts due to related parties
£
£
Other related parties
590,088
1,364,187
The following amounts were outstanding at the reporting end date:
2024
2023
Amounts due from related parties
£
£
Key management personnel
2,431,814
2,351,750
Other related parties
4,720,629
-
ALDER OAK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 JUNE 2024
15
Related party transactions
(Continued)
- 17 -
Other information
The company has taken advantage of the exemption available in FRS 102 "Related party disclosures" whereby it has not disclosed transactions with the ultimate parent company or any wholly owned subsidiary undertaking of the group.
16
Directors' transactions
Description
% Rate
Opening balance
Amounts advanced
Interest charged
Closing balance
£
£
£
£
Director's Loan
2.25
2,351,750
27,150
52,914
2,431,814
2,351,750
27,150
52,914
2,431,814
17
Cash (absorbed by)/generated from operations
2024
2023
£
£
Profit after taxation
3,587,843
8,154,618
Adjustments for:
Taxation charged
1,209,380
2,578,514
Finance costs
119,702
1,466
Investment income
(86,965)
(82,932)
Movements in working capital:
Decrease/(increase) in stocks
234,094
(4,074,673)
(Increase)/decrease in debtors
(6,362,148)
1,244,551
Decrease in creditors
(123,951)
(4,447,854)
Cash (absorbed by)/generated from operations
(1,422,045)
3,373,690
18
Analysis of changes in net funds
1 January 2024
Cash flows
30 June 2024
£
£
£
Cash at bank and in hand
4,127,950
(1,534,846)
2,593,104
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