Registration number:
Alternative Enterprises Limited
FOR THE
YEAR ENDED 31 December 2024
Alternative Enterprises Limited
Contents
|
Company Information |
|
|
Balance Sheet |
|
|
Notes to the Unaudited Financial Statements |
Alternative Enterprises Limited
Company Information
|
Directors |
D Allen J Short |
|
Registered office |
|
|
Accountants |
|
Alternative Enterprises Limited
(Registration number: 02739321)
Balance Sheet as at 31 December 2024
|
Note |
2024 |
2023 |
|
|
Fixed assets |
|||
|
Tangible assets |
|
|
|
|
Current assets |
|||
|
Stocks |
|
|
|
|
Debtors |
|
|
|
|
Cash at bank and in hand |
|
|
|
|
|
|
||
|
Creditors: Amounts falling due within one year |
( |
( |
|
|
Net current assets |
|
|
|
|
Total assets less current liabilities |
|
|
|
|
Creditors: Amounts falling due after more than one year |
( |
( |
|
|
Provisions for liabilities |
( |
( |
|
|
Net assets |
|
|
|
|
Capital and reserves |
|||
|
Called up share capital |
40,000 |
40,000 |
|
|
Retained earnings |
2,253,404 |
1,969,395 |
|
|
Shareholders' funds |
2,293,404 |
2,009,395 |
For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
|
• |
|
|
• |
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
Alternative Enterprises Limited
(Registration number: 02739321)
Balance Sheet as at 31 December 2024
Approved and authorised by the
.........................................
D Allen
Director
Alternative Enterprises Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
|
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
England
These financial statements were authorised for issue by the
|
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.
Going concern
Revenue recognition
Turnover represents amounts derived from the provision of goods and services, exclusive of Value Added Tax.
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.
Contract revenue recognition
In respect of contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of contracts for on-going services is recognised by reference to the stage of completion.
Alternative Enterprises Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
Other grants
A grant that does not impose specified future performance related conditions on the recipient is recognised as income when the grant proceeds are received, or receivable.
A grant that imposes specified future performance related conditions on the recipient is recognised as income only when the performance related conditions are met.
Grants received before the revenue recognition criteria are satisfied are recognised as a liability.
Foreign currency transactions and balances
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 is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax, with the following exceptions:
Provision is made for tax on gains arising from the revaluation (and similar fair value adjustments) of fixed assets, and gains on disposal of fixed assets that have been rolled over into replacement assets, only to the extent that, at the balance sheet date, there is a binding agreement to dispose of the assets concerned. However, no provision is made where, on the basis of all available evidence at the balance sheet date, it is more likely than not that the taxable gain will be rolled over into replacement assets and charged to tax only where the replacement assets are sold;
Deferred tax assets are recognised only to the extent that the Directors consider that it is more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.
Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.
Alternative Enterprises Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
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 over their estimated useful lives, as follows:
|
Asset class |
Depreciation method and rate |
|
Rental equipment |
20% - 50% straight line |
|
Furniture, fittings and equipment |
20% - 33% straight line |
|
Motor vehicles |
20% - 33% straight line with a residual value |
Rental equipment
Equipment leased to customers under operating leases are recorded as fixed assets and depreciated over their useful lives. The rental income is recognised on a straight line basis.
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.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
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.
Alternative Enterprises Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
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
Where the Company enters into a lease, which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease. The asset is recorded in the balance sheet as a tangible fixed asset and is depreciated in accordance with the above depreciation policies. Future instalments under such leases, net of finance charges, are included with creditors. Rentals payable are apportioned between the finance element, which is charged to the profit and loss account at a constant rate of charge on the balance of capital repayments outstanding, and the capital element, which reduces the outstanding obligation for future instalments.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.
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.
Defined contribution pension obligation
The Company operates defined contribution pension schemes for Directors and certain employees. The assets of the schemes are held separately from those of the Company. The annual contributions payable are charged to the profit and loss account.
Financial instruments
Classification
Alternative Enterprises Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
|
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
|
Tangible assets |
|
Rental equipment |
Furniture, fittings and equipment |
Motor vehicles |
Total |
|
|
Cost or valuation |
||||
|
At 1 January 2024 |
|
|
|
|
|
Additions |
- |
|
|
|
|
Disposals |
( |
- |
- |
( |
|
At 31 December 2024 |
|
|
|
|
|
Depreciation |
||||
|
At 1 January 2024 |
|
|
|
|
|
Charge for the year |
|
|
|
|
|
Eliminated on disposal |
( |
- |
- |
( |
|
At 31 December 2024 |
|
|
|
|
|
Carrying amount |
||||
|
At 31 December 2024 |
|
|
|
|
|
At 31 December 2023 |
|
|
|
|
Rental equipment is equipment leased to customers under operating leases.
|
Stocks |
|
2024 |
2023 |
|
|
Other inventories |
|
|
Alternative Enterprises Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
|
Debtors |
|
Current |
Note |
2024 |
2023 |
|
Trade debtors |
|
|
|
|
Amounts owed by related parties |
|
|
|
|
Prepayments |
|
|
|
|
Other debtors |
|
|
|
|
|
|
Details of non-current trade and other debtors
£976,305 (2023 - £953,325) of loans to holding company and intermediate holding company is classified as non-current.
|
Creditors |
Creditors: amounts falling due within one year
|
Note |
2024 |
2023 |
|
|
Due within one year |
|||
|
Bank loans and overdrafts |
|
|
|
|
HP and finance lease liabilities |
36,362 |
25,537 |
|
|
Trade creditors |
|
|
|
|
Taxation and social security |
|
|
|
|
Other creditors |
|
|
|
|
|
|
||
|
Due after one year |
|||
|
Loans and borrowings |
|
|
Within creditors falling due within one year are creditors in respect of loans amounting to £36,362 (2023 - £25,537) which were secured by the Company.
Alternative Enterprises Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
Creditors: amounts falling due after more than one year
|
Note |
2024 |
2023 |
|
|
Due after one year |
|||
|
Loans and borrowings |
|
|
Within creditors falling due after one year are creditors in respect of loans amounting to £121,041 (2023 - £78,939) which were secured by the Company.
|
Share capital |
Allotted, called up and fully paid shares
|
2024 |
2023 |
|||
|
No. |
£ |
No. |
£ |
|
|
|
|
40,000 |
|
40,000 |
|
Loans and borrowings |
Current loans and borrowings
|
2024 |
2023 |
|
|
Bank borrowings |
|
|
|
Hire purchase contracts |
|
|
|
|
|
|
Non-current loans and borrowings
|
2024 |
2023 |
|
|
Bank borrowings |
|
|
|
Hire purchase contracts |
|
|
|
|
|
|
Bank borrowings
|
|
Alternative Enterprises Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
|
Obligations under leases and hire purchase contracts |
Operating leases
The total of future minimum lease payments is as follows:
|
2024 |
2023 |
|
|
Not later than one year |
|
|
|
Later than one year and not later than five years |
- |
|
|
|
|
The amount of non-cancellable operating lease payments recognised as an expense during the year was £
|
Dividends |
Interim dividends paid
|
2024 |
2023 |
|||
|
Interim dividend of £ |
|
|
||
|
Financial commitments, guarantees and contingencies |
Amounts not provided for in the balance sheet
The total amount of financial commitments not included in the balance sheet is £
|
Within one year |
Between two to five years |
Greater than five years |
|
|
Land and buildings |
123,020 |
492,080 |
99,764 |
|
Other |
44,520 |
157,403 |
The Company operates defined contribution schemes on behalf of certain of its employees. The assets of the schemes are held separately from those of the Company in independently administered funds. Contributions in respect of the schemes are charged to the profit and loss account in the year in which they are payable. There is no annual commitment under these schemes though contributions paid in the year amounted to £42,056 (2023 - £45,667).
Alternative Enterprises Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
|
Related party transactions |
|
Transactions with directors |
|
2024 |
At 1 January 2024 |
Advances to director |
Repayments by director |
At 31 December 2024 |
|
D Allen |
||||
|
Interest free loan |
- |
|
( |
- |
|
2023 |
At 1 January 2023 |
Repayments by director |
At 31 December 2023 |
|
S Bridgewater |
|||
|
Interest free loans |
|
( |
- |
Directors' remuneration
The directors' remuneration for the year was as follows:
|
2024 |
2023 |
|
|
Remuneration |
|
|
|
Contributions paid to money purchase schemes |
|
|
|
436,069 |
462,215 |
Alternative Enterprises Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024
Summary of transactions with parent entity and ultimate parent entity
Loans to parent entity and ultimate parent entity
|
2024 |
Total |
|
At start of period |
|
|
Advanced |
|
|
Repaid |
( |
|
At end of period |
|
|
|
|
|
2023 |
Total |
|
At start of period |
|
|
Advanced |
|
|
At end of period |
|
|
|
|
|
Parent and ultimate parent undertaking |