REGISTERED NUMBER: 12542868 (England and Wales)

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

ALVEST EQUIPMENT SERVICES (UK) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

F Denninger

P J Jenkins

REGISTERED OFFICE:

1 Lyon Close

Kempston

Bedford

Bedfordshire

MK42 7SB

REGISTERED NUMBER:

12542868 (England and Wales)

AUDITORS:

Ad Valorem Audit Services Limited

Chartered Certified Accountants

& Statutory Auditors

2 Manor Farm Court

Old Wolverton Road

Old Wolverton

Milton Keynes

Buckinghamshire

MK12 5NN

FIXED ASSETS

Intangible assets

4

1,873

2,185

Tangible assets

5

2,311,969

1,356,375

2,313,842

1,358,560

CURRENT ASSETS

Stocks

6

374,036

269,704

Debtors

7

1,647,309

1,043,702

Cash at bank

254,083

366,970

2,275,428

1,680,376

CREDITORS

Amounts falling due within one year

8

1,237,788

1,377,948

NET CURRENT ASSETS

1,037,640

302,428

TOTAL ASSETS LESS CURRENT LIABILITIES

3,351,482

1,660,988

CREDITORS

Amounts falling due after more than one year

9

5,125,615

2,962,808

NET LIABILITIES

(1,774,133

)

(1,301,820

)

CAPITAL AND RESERVES

Called up share capital

10

100

100

Retained earnings

(1,774,233

)

(1,301,920

)

SHAREHOLDERS' FUNDS

(1,774,133

)

(1,301,820

)

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 November 2025 and were signed on its behalf by:

P J Jenkins - Director

1.	STATUTORY INFORMATION

Alvest Equipment Services (UK) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

RELATED PARTY EXEMPTION

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

TURNOVER

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer, the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from maintenance contracts is recognised on a straight line basis over the period of the maintenance contract.

Revenue from short term rentals is recognised on a straight line basis over the term of the rental period.

INTANGIBLE ASSETS

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of ten years.

TANGIBLE FIXED ASSETS

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

- 14.29% on cost

Motor vehicles

- 20.00% on cost

Computer equipment

- 33.33% on cost

Improvements to property

- 10% on cost

Fixtures & Fittings

- 20% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to the Income Statement.

STOCKS

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Work in progress and finished goods include labour and attributable overheads.

TAXATION

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

DEFERRED TAX

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

FOREIGN CURRENCIES

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

HIRE PURCHASE AND LEASING COMMITMENTS

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

GOING CONCERN

These financial statements show a loss for the financial period ended 31 December 2024 of £472,313 (2023: loss £452,525) and a balance sheet deficiency at that date of £1,774,133 (2023: £1,301,820). The financial statements have been prepared on a going concern basis which the directors consider to be appropriate as there will be continuing financial support from Alvest Equipment Services S.A.S, the company's French parent company, for the period of at least 12 months from the date of approval of these financial statements and the liquidity risk will be managed as the majority of payables relate to transactions with fellow group companies.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2023 - 13 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 January 2024

and 31 December 2024

3,121

AMORTISATION

At 1 January 2024

936

Charge for year

312

At 31 December 2024

1,248

NET BOOK VALUE

At 31 December 2024

1,873

At 31 December 2023

2,185

5.	TANGIBLE FIXED ASSETS

Fixtures

Improvements

Plant and

and

to property

machinery

fittings

£

£

£

COST

At 1 January 2024

137,373

1,289,217

23,193

Additions

17,080

1,260,265

2,752

Disposals

-

(105,565

)

-

At 31 December 2024

154,453

2,443,917

25,945

DEPRECIATION

At 1 January 2024

-

224,382

-

Charge for year

15,009

249,247

5,075

Eliminated on disposal

-

(9,017

)

-

At 31 December 2024

15,009

464,612

5,075

NET BOOK VALUE

At 31 December 2024

139,444

1,979,305

20,870

At 31 December 2023

137,373

1,064,835

23,193

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 January 2024

170,883

4,803

1,625,469

Additions

81,482

2,382

1,363,961

Disposals

-

-

(105,565

)

At 31 December 2024

252,365

7,185

2,883,865

DEPRECIATION

At 1 January 2024

42,167

2,545

269,094

Charge for year

40,448

2,040

311,819

Eliminated on disposal

-

-

(9,017

)

At 31 December 2024

82,615

4,585

571,896

NET BOOK VALUE

At 31 December 2024

169,750

2,600

2,311,969

At 31 December 2023

128,716

2,258

1,356,375

6.

STOCKS

2024

2023

£

£

Stocks

374,036

269,704

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

1,313,566

799,930

Amounts owed by group companies

129,960

4,891

Other debtors

203,783

238,881

1,647,309

1,043,702

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

164,626

112,986

Amounts owed to group companies

823,976

960,561

Taxation and social security

20,723

68,148

Other creditors

228,463

236,253

1,237,788

1,377,948

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Amounts owed to group companies

5,125,615

2,962,808

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

100

Ordinary

£1

100

100

11.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Zubair Arshad FCCA ACA (Senior Statutory Auditor)

for and on behalf of Ad Valorem Audit Services Limited

12.	PENSION COMMITMENTS

Contributions payable by the company for the year amounted to £24,892 (2023 - £17,886).

An amount of £15,167 (2023 - £4,497) was outstanding at the balance sheet date.

13.	OTHER FINANCIAL COMMITMENTS

The total amount of financial commitments at 31 December 2024 was £960,706 (2023 - £1,115,601).

This balance relates to two property leases which expire in July 2028 and July 2033.

14.	ULTIMATE CONTROLLING PARTY