Registration number:
Alpine Group (1974) Limited
Unaudited Filleted Accounts
for the Year Ended 31 December 2020
Alpine Group (1974) Limited
(Registration number: 06566511)
Balance Sheet as at 31 December 2020
Note |
2020 |
2019 |
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Fixed assets |
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Intangible assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
150 |
150 |
|
Share premium reserve |
41,900 |
41,900 |
|
Other reserves |
315,300 |
204,000 |
|
Profit and loss account |
(95,402) |
14,208 |
|
Shareholders' funds |
261,948 |
260,258 |
Alpine Group (1974) Limited
(Registration number: 06566511)
Balance Sheet as at 31 December 2020
For the financial year ending 31 December 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
• |
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• |
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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Approved and authorised by the
......................................... |
Alpine Group (1974) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2020
General information |
The address of its registered office is:
The company is a private company limited by share capital, incorporated in England. The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £.
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.
Group accounts not prepared
Going concern
The directors have reviewed the companys positon at date of sign off of the accounts and have reviewed projections and forecasts and feel it is appropriate to prepare the accounts on the going concern basis. The covid 19 pandemic has caused disruption across industry as a whole but the business has been able to operate through these times with support from the Coronavirus Job Retention Scheme and it has been able to obtain a business interruption loan of £300,000 to support continued activities. At the siging of the accounts the order book is looking healthy.
Income recognition
Income is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.
Deferred 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 taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes. Tax deferred or accelerated is accounted for in respect of all material timing differences.
Tangible assets
No depreciation is provided in respect of Freehold Property. The Freehold Property is revalued annually and the surplus or deficit is transfered to the revaluation reserve unless the deficit is below the original cost on its reversal. If the Freehold Property deficit is expected to be permanent it is recognised in the Profit and Loss Account in the year of the valuation.
Other tangible fixed assets are included at cost less depreciation and impairment.
Alpine Group (1974) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2020
2 |
Accounting policies (continued) |
Depreciation
Depreciation has been computed to write off the cost of tangible fixed assets over their useful lives as follows:
Asset class |
Depreciation method and rate |
Plant & Machinery |
20% Straight Line |
Motor Vehicles |
25% Straight Line |
Office Equipment |
20% Straight Line |
Goodwill
Goodwill is capitalised and amortised over its useful life.
Amortisation
Amortisation has been computed to write off the cost of intangible fixed assets over their expected useful lives as follows:
Asset class |
Amortisation method and rate |
Goodwill |
5 years |
Stocks
Stocks have been valued at the lower of cost and estimated selling price less costs to sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacture/completion.
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
Rentals payable under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.
Property, plant and equipment acquired under finance leases or hire purchase contracts are capitalised and depreciated in the same manner as other tangible fixed assets. The related obligations, net of future finance charges, are included in creditors.
Defined contribution pension obligation
The company operates a defined contribution scheme for the benefit of its employees. Contributions are recognised in profit and loss account when due.
Alpine Group (1974) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2020
2 |
Accounting policies (continued) |
Financial instruments
Staff numbers |
The average number of persons employed by the company, including directors, during the year was
Intangible assets |
Goodwill |
Total |
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Cost or valuation |
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At 1 January and 31 December 2020 |
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Amortisation |
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At 1 January and 31 December 2020 |
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Carrying amount |
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At 31 December 2020 |
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At 31 December 2019 |
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Alpine Group (1974) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2020
Tangible assets |
Land and buildings |
Furniture, fittings and equipment |
Motor vehicles |
Plant and machinery |
Total |
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Cost or valuation |
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At 1 January 2020 |
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Revaluations |
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- |
- |
- |
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Additions |
- |
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Disposals |
- |
- |
( |
- |
( |
At 31 December 2020 |
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Depreciation |
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At 1 January 2020 |
- |
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Charge for the year |
- |
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Eliminated on disposal |
- |
- |
( |
- |
( |
At 31 December 2020 |
- |
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Carrying amount |
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At 31 December 2020 |
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At 31 December 2019 |
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Alpine Group (1974) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2020
5 |
Tangible assets (continued) |
Included within the net book value of land and buildings above is £700,000 (2019 - £575,000) in respect of freehold land and buildings.
Alpine Group (1974) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2020
Stocks |
2020 |
2019 |
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Other inventories |
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Debtors |
2020 |
2019 |
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Trade debtors |
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Amounts owed by group undertakings and undertakings in which the company has a participating interest |
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Prepayments |
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Other debtors |
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Alpine Group (1974) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2020
Creditors |
Due within one year
2020 |
2019 |
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Bank loans and overdrafts |
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Obligations under finance lease and hire purchase contracts |
10,639 |
11,949 |
Trade creditors |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Due after more than one year
2020 |
2019 |
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Bank loans and overdrafts |
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Obligations under finance lease and under hire purchase contracts |
8,479 |
15,889 |
Other creditors |
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|
771,779 |
527,808 |
Reserves |
The changes to each component of equity resulting from items of other comprehensive income for the current year were as follows:
Non-distributable reserve |
Total |
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Revaluation gain on property |
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The changes to each component of equity resulting from items of other comprehensive income for the prior year were as follows:
Loans and borrowings |
Bank loans and overdrafts
Bank loans and overdrafts on which security has been given by the company have a carrying amount of £397,671 (2019 - £423,661).
Finance lease and hire purchase contracts
Finance lease and hire purchase contracts with a carrying amount of £19,118 (2019 - £27,838) are secured by certain plant and machinery.
Alpine Group (1974) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 December 2020
Profit and loss account |
2020 |
2019 |
|
Distributable reserves |
(95,402) |
14,208 |
Non-distributable reserves |
315,300 |
204,000 |
219,898 |
218,208 |
Financial commitments, guarantees and contingencies |
The total amount of operating lease commitments not included in the balance sheet is £26,778. This balance is made up of non-cancellable operating leases in relation to land, buildings and equipment. £3,335 of the total balance expires not later than one year. £23,443 of the total balance expires later than one year, but not later than five years.