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Registration number: 02739321

Alternative Enterprises Limited

annual report and Unaudited Financial Statements

FOR THE YEAR ENDED 31 December 2024

 

Alternative Enterprises Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 13

 

Alternative Enterprises Limited

Company Information

Directors

D Allen

J Short

Registered office

Avocet House
Trinity Park
Trinity Way Chingford
London
E4 8TD

Accountants

Brassington & Co
Chartered Accountants500 High Road
Woodford Green
Essex
IG8 0PN

 

Alternative Enterprises Limited

(Registration number: 02739321)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

253,480

191,277

Current assets

 

Stocks

5

874,526

775,534

Debtors

6

1,818,945

1,885,657

Cash at bank and in hand

 

918,833

642,782

 

3,612,304

3,303,973

Creditors: Amounts falling due within one year

7

(1,387,788)

(1,348,782)

Net current assets

 

2,224,516

1,955,191

Total assets less current liabilities

 

2,477,996

2,146,468

Creditors: Amounts falling due after more than one year

7

(125,451)

(93,753)

Provisions for liabilities

(59,141)

(43,320)

Net assets

 

2,293,404

2,009,395

Capital and reserves

 

Called up share capital

8

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 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.

 

Alternative Enterprises Limited

(Registration number: 02739321)
Balance Sheet as at 31 December 2024

Approved and authorised by the Board on 18 July 2025 and signed on its behalf by:
 

.........................................

D Allen

Director

 

Alternative Enterprises Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 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:
Avocet House
Trinity Park
Trinity Way Chingford
London
E4 8TD
England

These financial statements were authorised for issue by the Board on 18 July 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.

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

Other grants are recognised as follows:
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

Transactions in foreign currencies are translated into sterling at the exchange rates ruling at the date the transaction is processed by the bank. The treatment of foreign currency transactions under the Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' has not been complied with as the Directors consider that the costs of compliance outweigh the benefits of calculating the disclosure.

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
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
 

 

Alternative Enterprises Limited

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

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 29 (2023 - 30).

4

Tangible assets

Rental equipment
 £

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2024

51,183

246,380

186,787

484,350

Additions

-

5,768

111,280

117,048

Disposals

(27,414)

-

-

(27,414)

At 31 December 2024

23,769

252,148

298,067

573,984

Depreciation

At 1 January 2024

49,667

228,450

14,956

293,073

Charge for the year

700

11,089

43,057

54,846

Eliminated on disposal

(27,415)

-

-

(27,415)

At 31 December 2024

22,952

239,539

58,013

320,504

Carrying amount

At 31 December 2024

817

12,609

240,054

253,480

At 31 December 2023

1,516

17,930

171,831

191,277

Rental equipment is equipment leased to customers under operating leases.
 

5

Stocks

2024
£

2023
£

Other inventories

874,526

775,534

 

Alternative Enterprises Limited

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

6

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

656,104

774,783

Amounts owed by related parties

13

976,305

953,325

Prepayments

 

164,772

128,790

Other debtors

 

21,764

28,759

   

1,818,945

1,885,657

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.

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Bank loans and overdrafts

9

10,402

10,137

HP and finance lease liabilities

 

36,362

25,537

Trade creditors

 

664,970

845,276

Taxation and social security

 

395,752

268,736

Other creditors

 

280,302

199,096

 

1,387,788

1,348,782

Due after one year

 

Loans and borrowings

9

125,451

93,753


 

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

9

125,451

93,753


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.

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each of £1 each

40,000

40,000

40,000

40,000

       

9

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank borrowings

10,402

10,137

Hire purchase contracts

36,362

25,537

46,764

35,674

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

4,410

14,814

Hire purchase contracts

121,041

78,939

125,451

93,753

Bank borrowings

Bounce Back Loan Scheme bank loan is denominated in sterling with a nominal interest rate of 2.5%, and the final instalment is due on 30 June 2026. The carrying amount at the year end was £14,812 (2023 - £24,951).

 

Alternative Enterprises Limited

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

10

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

20,825

3,469

Later than one year and not later than five years

-

68,783

20,825

72,252

The amount of non-cancellable operating lease payments recognised as an expense during the year was £55,853 (2023 - £60,711).

11

Dividends

Interim dividends paid

2024
£

2023
£

Interim dividend of £10.00 (2023 - £6.9378) per each Ordinary shares of £1 each

400,000

277,510

 

 

12

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 £916,787 (2023 - £130,282). The financial commitments are in respect of the annual cost of operating leases for land and buildings and other assets and become due as follows:

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

13

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

-

10,000

(10,000)

-

2023

At 1 January 2023
£

Repayments by director
£

At 31 December 2023
£

S Bridgewater

Interest free loans

49,895

(49,895)

-

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

428,069

448,818

Contributions paid to money purchase schemes

8,000

13,397

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

953,325

Advanced

186,621

Repaid

(163,641)

At end of period

976,305

2023

Total
£

At start of period

790,213

Advanced

163,112

At end of period

953,325

14

Parent and ultimate parent undertaking

The Company is a 100% subsidiary of Altco Holdings Limited, Altco Holdings Limited is a 100% subsidiary of Altent Holdings Limited, the Company’s ultimate parent entity, which is under the control of D Allen. Both the parent entity and the ultimate parent entiy are incorporated in England and Wales.