Company Registration No. 03704941 (England and Wales)
ALPHA PLUS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2019
PAGES FOR FILING WITH REGISTRAR
ALPHA PLUS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
ALPHA PLUS LIMITED
BALANCE SHEET
AS AT 31 JANUARY 2019
31 January 2019
- 1 -
2019
2018
Notes
£
£
£
£
Fixed assets
Tangible assets
3
72,805
77,716
Current assets
Stocks
26,000
23,125
Debtors
4
1,725,449
1,687,005
Cash at bank and in hand
128,202
40,534
1,879,651
1,750,664
Creditors: amounts falling due within one year
5
(754,503)
(713,464)
Net current assets
1,125,148
1,037,200
Total assets less current liabilities
1,197,953
1,114,916
Provisions for liabilities
(13,400)
(14,500)
Net assets
1,184,553
1,100,416
Capital and reserves
Called up share capital
6
10,000
10,000
Profit and loss reserves
1,174,553
1,090,416
Total equity
1,184,553
1,100,416
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 January 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he 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.
The financial statements were approved and signed by the director and authorised for issue on 10 April 2019
Mr S G Shepherd
Director
Company Registration No. 03704941
ALPHA PLUS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2019
- 2 -
1
Accounting policies
Company information
Alpha Plus Limited is a
private
company
, limited by shares
and
incorporated in England and Wales.
The registered office is
336 Coleford Road, Darnall, Sheffield, S9 5HP.
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.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Monetary a
mounts
in these financial statements are
rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is
represents amounts receivable for goods and services net of VAT and trade discounts.
1.3
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:
Plant and machinery
10% Straight line
Fixtures, fittings & equipment
20% Straight line
Computer equipment
20% Straight line
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
.
1.4
Stocks
Stocks are stated at the lower of cost and
net realisable value.
1.5
Cash and cash equivalents
Cash and cash equivalents
are basic financial assets
and
include cash in hand, deposits held at call with banks
and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.6
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset
, with
the net amounts presented in the financial statements
,
when there is a legally 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.
ALPHA PLUS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2019
1
Accounting policies
(Continued)
- 3 -
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including 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.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
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
paymen
ts discounted at a market rate of interest.
Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective
interest rate method.
Trade creditors
are obligations to pay for goods or services that have been acquired
in the ordinary course of business from suppliers. A
m
ounts payable are classified as
current liabilities if payment is due within one year or less. If not, they are presented
as non-current liabilities. Trade creditors are recognised initially at transaction price
and subsequently measured at amortised cost using the effective interest method.
1.7
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The
company’s
liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
1.8
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
1.9
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
ALPHA PLUS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2019
- 4 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was 33 (2018 - 32).
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 February 2018
296,585
Additions
23,374
At 31 January 2019
319,959
Depreciation and impairment
At 1 February 2018
218,869
Depreciation charged in the year
28,285
At 31 January 2019
247,154
Carrying amount
At 31 January 2019
72,805
At 31 January 2018
77,716
4
Debtors
2019
2018
Amounts falling due within one year:
£
£
Trade debtors
1,392,095
1,334,643
Amounts owed by group undertakings
272,394
272,394
Prepayments and accrued income
60,960
79,968
1,725,449
1,687,005
ALPHA PLUS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2019
- 5 -
5
Creditors: amounts falling due within one year
2019
2018
Notes
£
£
Bank loans and overdrafts
-
27,990
Obligations under finance leases
-
2,315
Trade creditors
504,834
382,561
Corporation tax
49,952
60,459
Other taxation and social security
179,460
165,096
Other creditors
2,963
20,908
Accruals and deferred income
17,294
54,135
754,503
713,464
6
Called up share capital
2019
2018
£
£
Ordinary share capital
Issued and fully paid
10,000 Ordinary shares of £1 each
10,000
10,000
10,000
10,000
7
Controlling party
The ultimate parent company is S G Shepherd Limited, a company registered in England and Wales.
The ultimate controlling party is S G Shepherd, a director and majority shareholder of the parent company.