Company Registration No. 01330551 (England and Wales)
AALMAR SURVEYS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
PAGES FOR FILING WITH REGISTRAR
Sobell Rhodes LLP
The Kinetic Centre
Theobald Street
Elstree
Borehamwood
Hertfordshire
WD6 4PJ
AALMAR SURVEYS LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 8
AALMAR SURVEYS LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2022
31 December 2022
- 1 -
2022
2021
Notes
£
£
£
£
Fixed assets
Tangible assets
3
286,745
164,147
Investments
38,535
638
325,280
164,785
Current assets
Debtors
5
348,064
478,175
Cash at bank and in hand
224,055
212,375
572,119
690,550
Creditors: amounts falling due within one year
6
(453,127)
(453,102)
Net current assets
118,992
237,448
Total assets less current liabilities
444,272
402,233
Provisions for liabilities
(44,602)
(10,622)
Net assets
399,670
391,611
Capital and reserves
Called up share capital
7
100
100
Profit and loss reserves
399,570
391,511
Total equity
399,670
391,611
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
AALMAR SURVEYS LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2022
31 December 2022
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 11 July 2023 and are signed on its behalf by:
C Bryer
Director
Company Registration No. 01330551
AALMAR SURVEYS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
- 3 -
1
Accounting policies
Company information
Aalmar Surveys Limited is a private company limited by shares incorporated in England and Wales. The registered office is Number 1 Exchange Building, 132 Commercial Street, London, England, E1 6NG.
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 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
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.
The financial statements present information about the company as an individual undertaking and not about its group. The company and its subsidiary undertakings comprise a small sized group as set out in section 383 of the Companies Act 2016. The company has therefore taken advantage of the exemptions provided by Section 399 (2A) of the Companies Act 2006 not to prepare group accounts.
1.2
Going concern
The directors have a reasonable expectation the company will continue to have adequate resources to fund its working capital for the foreseeable future. The directors have carried out a detailed assessment of the viability of the company following uncertainty over the current economic conditions due to worldwide increasing rate of inflation and interest rates. true
On the basis of the above, the directors are of the opinion that there is no material uncertainty relating to going concern and therefore it is appropriate to prepare these financial statements on a going concern basis.
1.3
Turnover
Turnover from rendering of services is recognised by reference to stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for the work performed to date to the total estimated contracts costs. Where the outcome cannot be measured reliably, turnover is recognised only to the extent of the expenses recognised that are recoverable.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Survey Equipment
20% Straight Line
Office Equipment
20% Straight Line
Motor vehicles
15% Straight line
Yatch
10 years of useful economic life
Wideberth boat
10 years of useful economic life
Canal boat
10 years of useful economic life
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 profit or loss.
AALMAR SURVEYS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
1
Accounting policies
(Continued)
- 4 -
1.5
Fixed asset investments
Investments in subsidiaries are measured at cost less any accumulated impairment losses.
1.6
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
1.7
Financial instruments
Basic financial assets
The company only enters into transactions that result in basic financial assets and basic financial liabilities.
Basic financial assets, which include trade and other debtors, amounts owed by group undertakings and cash and bank balances, are initially measured at transaction price less 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.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an 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.
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.8
Taxation
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.
Current tax
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
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
AALMAR SURVEYS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
1
Accounting policies
(Continued)
- 5 -
1.9
Retirement benefits
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as prepayment.
1.10
Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.
1.11
Foreign currency transactions and balances
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to the profit or loss
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2022
2021
Number
Number
Total
10
10
AALMAR SURVEYS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
- 6 -
3
Tangible fixed assets
Plant and machinery etc
Yatch
Wideberth boat
Canal boat
Total
£
£
£
£
£
Cost
At 1 January 2022
85,800
74,250
65,000
225,050
Additions
4,058
149,200
-
153,258
At 31 December 2022
89,858
74,250
149,200
65,000
378,308
Depreciation and impairment
At 1 January 2022
24,702
29,701
6,500
60,903
Depreciation charged in the year
12,880
7,425
3,855
6,500
30,660
At 31 December 2022
37,582
37,126
3,855
13,000
91,563
Carrying amount
At 31 December 2022
52,276
37,124
145,345
52,000
286,745
At 31 December 2021
61,098
44,549
58,500
164,147
4
Subsidiaries
Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:
Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Aalmar Surveys Inc
America
Ordinary Shares
100.00
5
Debtors
2022
2021
Amounts falling due within one year:
£
£
Trade debtors
316,789
336,978
Corporation tax recoverable
8,211
Other debtors
19,894
99,069
Prepayments and accrued income
3,170
4,231
348,064
440,278
2022
2021
Amounts falling due after more than one year:
£
£
Amounts owed by group undertakings
37,897
Total debtors
348,064
478,175
AALMAR SURVEYS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
- 7 -
6
Creditors: amounts falling due within one year
2022
2021
£
£
Trade creditors
316,782
327,448
Taxation and social security
43,623
46,252
Other creditors
92,722
79,402
453,127
453,102
7
Called up share capital
2022
2021
2022
2021
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary Shares of £1 each
100
100
100
100
AALMAR SURVEYS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2022
- 8 -
8
Directors' transactions
Description
% Rate
Opening balance
Amounts advanced
Amounts repaid
Closing balance
£
£
£
£
A Coleman -
-
64,904
21,184
(80,184)
5,904
64,904
21,184
(80,184)
5,904