Company registration number 03163266 (England and Wales)
ALIEN CONCEPTS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023
PAGES FOR FILING WITH REGISTRAR
ALIEN CONCEPTS LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
ALIEN CONCEPTS LIMITED
BALANCE SHEET
AS AT
30 APRIL 2023
30 April 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Intangible assets
3
1
1
Tangible assets
4
1,510,146
1,510,866
1,510,147
1,510,867
Current assets
Stocks
4,500
8,000
Debtors
5
21,715
3,332
Cash at bank and in hand
1,097,378
604,019
1,123,593
615,351
Creditors: amounts falling due within one year
6
(389,364)
(410,011)
Net current assets
734,229
205,340
Total assets less current liabilities
2,244,376
1,716,207
Creditors: amounts falling due after more than one year
7
(215,817)
(250,895)
Net assets
2,028,559
1,465,312
Capital and reserves
Called up share capital
2
2
Profit and loss reserves
2,028,557
1,465,310
Total equity
2,028,559
1,465,312
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 30 April 2023 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.
ALIEN CONCEPTS LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 APRIL 2023
30 April 2023
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 30 January 2024 and are signed on its behalf by:
V Bramhall
Director
Company registration number 03163266 (England and Wales)
ALIEN CONCEPTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023
- 3 -
1
Accounting policies
Company information
Alien Concepts Limited is a private company limited by shares incorporated in England and Wales. The registered office is 40 Abbey Street, Leicester, LE1 3TD. The company registration number is 03163266.
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 amounts 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
Going concern
The company is in the short term dependent upon the continued support of the director's and shareholders. The director's and shareholders have agreed to support the company for a period of at least one year from the date of approval of these financial statements.true
The director's therefore consider it appropriate that the financial statements are prepared on the going concern basis.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.
1.4
Intangible fixed assets - goodwill
Amortisation of goodwill is calculated so as to write off the cost of the asset, net of its anticipated disposal proceeds, over its estimated useful economic life.
1.5
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:
Freehold land and buildings
Not depreciated
Improvements to property
15% on reducing balance
Plant and equipment
15% on reducing balance
Fixtures and fittings
15% on reducing balance
Motor vehicles
25% on reducing balance
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.
ALIEN CONCEPTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2023
1
Accounting policies
(Continued)
- 4 -
1.6
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
1.7
Cash at bank and in hand
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
Financial instruments
Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.
Loans and borrowings
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.
Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.
1.9
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.
1.10
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.11
Leases
Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.
ALIEN CONCEPTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2023
1
Accounting policies
(Continued)
- 5 -
1.12
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.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
54
33
3
Intangible fixed assets
Goodwill
£
Cost
At 1 May 2022 and 30 April 2023
1
Amortisation and impairment
At 1 May 2022 and 30 April 2023
Carrying amount
At 30 April 2023
1
At 30 April 2022
1
ALIEN CONCEPTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2023
- 6 -
4
Tangible fixed assets
Freehold land and buildings
Improvements to property
Plant and equipment
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
£
Cost
At 1 May 2022
1,470,965
23,195
7,829
496,982
2,938
2,001,909
Additions
995
4,658
5,653
At 30 April 2023
1,470,965
23,195
8,824
501,640
2,938
2,007,562
Depreciation and impairment
At 1 May 2022
13,304
721
474,080
2,938
491,043
Depreciation charged in the year
1,275
1,106
3,992
6,373
At 30 April 2023
14,579
1,827
478,072
2,938
497,416
Carrying amount
At 30 April 2023
1,470,965
8,616
6,997
23,568
1,510,146
At 30 April 2022
1,470,965
9,891
7,108
22,902
1,510,866
The directors consider the freehold land and buildings are maintained in such a state of repair that their residual value is at least equal to their net book value. As a result, the corresponding depreciation would not be material and therefore is not charged in the profit and loss account.
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
11,095
3,332
Prepayments and accrued income
10,620
21,715
3,332
6
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
46,039
57,000
Trade creditors
18,575
57,002
Corporation tax
175,198
129,265
Other taxation and social security
56,555
55,710
Other creditors
40,528
23,238
Accruals and deferred income
52,469
87,796
389,364
410,011
ALIEN CONCEPTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2023
6
Creditors: amounts falling due within one year
(Continued)
- 7 -
The amount of £46,039 (2022: £57,000) included within bank loans and overdrafts is secured over the properties to which it relates.
7
Creditors: amounts falling due after more than one year
2023
2022
Notes
£
£
Bank loans and overdrafts
215,817
250,895
The amount of £215,817 (2022: £250,895) included within bank loans and overdrafts is secured over the properties to which it relates.
Amounts included above which fall due after five years are as follows:
Payable by instalments
215,817
250,895
8
Related party transactions
All transactions that took place were on normal commercial terms and on an arms length basis and therefore no further disclosure is required by FRS102 Section 1A