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Registered number:
FOR THE YEAR ENDED 30 SEPTEMBER 2024
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ALPHA GROUP BIDCO LIMITED
COMPANY INFORMATION
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ALPHA GROUP BIDCO LIMITED
CONTENTS
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ALPHA GROUP BIDCO LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2024
The directors present their strategic report for the year ended 30 September 2024.
The Company is a holding company for the period under review. There was interest paid on its bank loans, intercompany balances and administrative fees for its investment in its subsidiary company, Pareto Facilities Management Limited.
As the Company is a holding company and does not trade, the principal risk is the diminution in value of the Company's investment in its subsidiary.
Financial risk management The Company is not exposed to financial risk given it is a holding company. Currency risk The Company is not exposed to a foreign exchange risk. Credit risk The Company is not exposed to any credit risk. Liquidity risk The Company seeks to manage risks to ensure sufficient liquidity is available to meets foreseeable needs. Should a shortfall of liquidity be identified, then additional borrowings from the Group will be provided.
Key financial performance indicators are:
Loss before taxation for the period was £1,723,862 (2023 - £1,511,125). Net liabilities at the year end are £2,448,664 (2023 - £724,802).
Given the straightforward nature of the Company, there are no other key performance indicators.
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ALPHA GROUP BIDCO LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
The directors of Alpha Group Bidco Limited (the "Company") are aware of their duty under section 172 of the Companies Act 2006 to act in a way that they consider, in good faith, would most likely promote the success of the Company for the benefit of its members as a whole. In carrying out this duty, the directors have had regard to the matters set out in section 172(1)(a) to (f), including the likely long-term consequences of their decisions, the interests of employees, relationships with stakeholders, and the impact of the Company’s activities on the environment and community.
The Company is a holding company and forms part of a wider group of companies. As such, the Company’s success is closely tied to the performance and governance of those entities. The directors also consider the views of the Company’s ultimate shareholders when assessing strategic initiatives and capital structure, and they take into account the interests of the group’s employees and other stakeholders to the extent relevant to the Company’s investment role. Given the Company’s nature and structure, direct engagement with external stakeholders is limited, but the directors remain mindful of the reputational, regulatory, and environmental impact of group decisions and ensure that these factors are considered as part of their group-level discussions. The directors are satisfied that they have acted in a manner consistent with their duties under section 172 and that their decisions during the year have supported the Company’s purpose as a holding company and its contribution to the overall success of the group.
This report was approved by the board and signed on its behalf.
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ALPHA GROUP BIDCO LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2024
The directors present their report and the financial statements for the year ended 30 September 2024.
The loss for the year, after taxation, amounted to £1,723,862 (2023 - loss £1,511,125).
The director does not recommend the payment of a dividend.
The directors who served during the year were:
The directors anticipate the business environment will remain competitive, however, the Group is in a good financial position and that the business risks are being well managed. We will continue to focus on maintaining the organic revenue growth through bidding and winning new contracts and while retaining our existing work. Following the change in ownership this is likely to be complemented with carefully considered acquisitions as the opportunity arises. These are likely to be in niche’s of our service offering that we either currently subcontract or do not currently offer and this will continue to enhance the service quality for our customers. Through this careful and considered approach the directors are confident of the continued profitable success of the business.
The Company has not disclosed information in respect of greenhouse gas emissions, energy consumption and energy efficiency action as its energy consumption in the United Kingdom for the year is 40,000kWh or lower.
There have been no significant events affecting the Company since the year end.
The auditor, James Cowper Kreston Audit, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
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ALPHA GROUP BIDCO LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
This report was approved by the board and signed on its behalf.
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ALPHA GROUP BIDCO LIMITED
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 30 SEPTEMBER 2024
The directors are responsible for preparing the Strategic Report, the Directors' Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the Company's financial statements and then apply them consistently;
∙make judgements and accounting estimates that are reasonable and prudent;
∙state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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ALPHA GROUP BIDCO LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ALPHA GROUP BIDCO LIMITED
We have audited the financial statements of Alpha Group Bidco Limited (the 'Company') for the year ended 30 September 2024, which comprise the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes, including a summary of 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).
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 United Kingdom, including the Financial Reporting Council'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.
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.
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.
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ALPHA GROUP BIDCO LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ALPHA GROUP BIDCO LIMITED (CONTINUED)
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Strategic Report and the Directors' Report for the financial year 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.
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.
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ALPHA GROUP BIDCO LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ALPHA GROUP BIDCO LIMITED (CONTINUED)
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.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance.
The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. The specific procedures for this engagement that we designed and performed to detect material misstatements in respect of irregularities, including fraud, were as follows:
∙Enquiry of management and those charged with governance around actual and potential litigation and claims;
∙Enquiry of management and those charged with governance to identify any material instances of non-compliance with laws and regulations;
∙Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations;
∙Performing audit work to address the risk of irregularities due to management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for evidence of bias.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: 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.
for and on behalf of
Chartered Accountants and Statutory Auditor
201 Cumnor Hill
Cumnor
Oxfordshire
OX2 9PJ
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ALPHA GROUP BIDCO LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 SEPTEMBER 2024
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ALPHA GROUP BIDCO LIMITED
REGISTERED NUMBER: 13220128
BALANCE SHEET
AS AT 30 SEPTEMBER 2024
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
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ALPHA GROUP BIDCO LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 SEPTEMBER 2024
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 SEPTEMBER 2023
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ALPHA GROUP BIDCO LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
Alpha Group Bidco Limited is a private company, limited by shares, incorporated and registered in England and Wales. The company's registered office address is R+ Building, 2 Blagrave Street, Reading RG1 1AZ.
2.Accounting policies
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies (see note 3).
The following principal accounting policies have been applied:
The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
∙the requirements of Section 7 Statement of Cash Flows;
∙the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);
∙the requirements of Section 11 Financial Instruments paragraphs 11.42, 11.44 to 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c);
∙the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.27, 12.29(a), 12.29(b) and 12.29A;
∙the requirements of Section 33 Related Party Disclosures paragraph 33.7.
This information is included in the consolidated financial statements of Juran Midco Limited as at 30 September 2024 and these financial statements may be obtained from Companies House, Crown Way, Cardiff, CF14 3UZ.
The Company is a parent company that is also a subsidiary included in the consolidated financial statements of a larger group by a parent undertaking established under the law of any part of the United Kingdom and is therefore exempt from the requirement to prepare consolidated financial statements under section 400 of the Companies Act 2006.
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ALPHA GROUP BIDCO LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
2.Accounting policies (continued)
The Company has generated an EBITDA loss of £174,278 during the period ended 30 September 2024 (2023- loss of £173,178), has net current liabilities as at 30 September 2024 of £21,114,506 (2023 - £15,112,799) and net liabilities of £2,448,664 (2023 - £724,802).
Forecasts have been prepared using what the directors consider to be reasonable assumptions relating to the Company’s financial performance, current financial position and existing financial resources for a period of a period of least 12 months from the signing of the financial statements which show the Company to have sufficient liquidity to meet its financial obligations as they fall due. The Company is reliant on group borrowings not being called in for repayment for a period of at least 12 months from the signing of the financial statements unless the Company has sufficient resources to do so. The Group has bank borrowings subject to various covenants. Subsequent to the year end, the ultimate parent company invested £6 million of equity in the Group which was used to repay £4m of the bank borrowings and the facilities were amended. The forecasts prepared show that Group will meet its financial covenants for at least 12 months from the signing of the financial statements. The Group has considered the expected financial performance, current financial position, existing financial resources and compliance with borrowing covenants for a period of at least 12 months from the date of signing of the financial statements which show the Group and Company to be a going concern. Based on the above, The Directors are of the opinion that the going concern principle is applicable and that the Company has the necessary resources to continue as a going concern for the foreseeable future.
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ALPHA GROUP BIDCO LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
2.Accounting policies (continued)
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.
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ALPHA GROUP BIDCO LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
No estimates were considered to have a significant effect on the amounts recognised in the financial statements.
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ALPHA GROUP BIDCO LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
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ALPHA GROUP BIDCO LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
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ALPHA GROUP BIDCO LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
Profit and loss account
The largest and smallest group in which the results of the Company are consolidated is that headed by Juran Midco Limited, incorporated in Great Britain. The consolidated accounts of this Company are available to the public and can be obtained from Companies House, Crown Way, Cardiff, CF14 3UZ. No other group accounts include the results of the Company.
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