Alpha-Cure Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03191947 (England and Wales)

Financial Statements for the Year Ended 31 December 2018

for

Alpha-Cure Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S P Atherstone

S Haines

M A Slater

K Baier

SECRETARY:

M A Slater

REGISTERED OFFICE:

Leonard House

Great Central Way

Woodford Halse

Daventry

Northamptonshire

NN11 3PZ

REGISTERED NUMBER:

03191947 (England and Wales)

AUDITORS:

CED Accountancy Services Limited

Registered Auditors

Chartered Accountants

1 Lucas Bridge Business Park

Old Greens Norton Road

Towcester

Northamptonshire

NN12 8AX

BANKERS:

National Westminster Bank Plc

Grange Park Court

Roman Way

Grange Park

Northampton

NN4 5EA

SOLICITORS:

Howes Percival

Oxford House

Northampton

Northamptonshire

NN1 5PN

FIXED ASSETS

Intangible assets

4

2,105

2,393

Tangible assets

5

633,622

546,545

635,727

548,938

CURRENT ASSETS

Stocks

1,098,511

853,383

Debtors

2,290,172

2,464,786

Cash at bank

-

152,059

3,388,683

3,470,228

CREDITORS

Amounts falling due within one year

2,671,685

2,993,609

NET CURRENT ASSETS

716,998

476,619

TOTAL ASSETS LESS CURRENT LIABILITIES

1,352,725

1,025,557

CREDITORS

Amounts falling due after more than one year

(76,109

)

(35,209

)

PROVISIONS FOR LIABILITIES

(111,904

)

(93,319

)

NET ASSETS

1,164,712

897,029

CAPITAL AND RESERVES

Called up share capital

95

95

Capital redemption reserve

5

5

Retained earnings

1,164,612

896,929

SHAREHOLDERS' FUNDS

1,164,712

897,029

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2018 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the Board of Directors on 7 August 2019 and were signed on its behalf by:

S Haines - Director

M A Slater - Director

1.	STATUTORY INFORMATION

Alpha-Cure 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.

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

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.

Patents and licences are being amortised evenly over their estimated useful life of twenty years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Short leasehold

-

15% on cost

Plant and machinery

-

15% on reducing balance

Fixtures and fittings

-

25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and

Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or

directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held

under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases

are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element

of the future payments is treated as a liability.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 48 (2017 - 43 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2018

and 31 December 2018

5,727

AMORTISATION

At 1 January 2018

3,334

Amortisation for year

288

At 31 December 2018

3,622

NET BOOK VALUE

At 31 December 2018

2,105

At 31 December 2017

2,393

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2018

1,675,971

Additions

190,359

At 31 December 2018

1,866,330

DEPRECIATION

At 1 January 2018

1,129,426

Charge for year

103,282

At 31 December 2018

1,232,708

NET BOOK VALUE

At 31 December 2018

633,622

At 31 December 2017

546,545

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals

£

COST

At 1 January 2018

209,874

Additions

77,773

Transfer to ownership

(93,996

)

At 31 December 2018

193,651

DEPRECIATION

At 1 January 2018

111,604

Charge for year

11,394

Transfer to ownership

(71,690

)

At 31 December 2018

51,308

NET BOOK VALUE

At 31 December 2018

142,343

At 31 December 2017

98,270

6.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.18

31.12.17

£

£

Bank overdraft

4,577

-

Bank loans

-

20,506

Other loans

150,000

37,807

Hire purchase contracts

111,262

68,327

265,839

126,640

National Westminster Bank Plc hold a debenture dated 2 January 2007 including a first fixed charge on book

debts and other debts.

All finance lease and hire purchase contracts are secured on assets financed (see note 6).

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

The Report of the Auditors was unqualified.

Clifford Davidson BSc FCA (Senior Statutory Auditor)

for and on behalf of CED Accountancy Services Limited

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2018 and

31 December 2017:

31.12.18

31.12.17

£

£

S P Atherstone

Balance outstanding at start of year

21,107

21,107

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

21,107

21,107

S Haines

Balance outstanding at start of year

82

496

Amounts repaid

-

(414

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

82

82

M A Slater

Balance outstanding at start of year

15,815

37,298

Amounts advanced

8,000

41,000

Amounts repaid

-

(62,483

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

23,815

15,815

9.	RELATED PARTY DISCLOSURES

The parent company of Alpha-Cure Limited is Alpha-Cure Holdings Ltd.

Sales

Purchases

Creditor

Debtor

Transactions with controlling entity

414,551

Transactions with group companies

538,730

3,051,209

1,264,423

64,638

Transactions with other related parties

73,409

35,213

The company also received a loan from the Retirement Benefit Pension Scheme of £150,000.

10.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Alpha-Cure Holdings Limited (a Company registered in England and Wales) by

virtue of its majority shareholding.