Alpha Charlie Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09750118 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2019

FOR

ALPHA CHARLIE LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

E A P Bodson

Ms A Chung

A T W Harris

P A Weiss

Dr M A W King

Dr S W Porter

SECRETARY:

D&A Secretarial Services Limited

REGISTERED OFFICE:

Unit 12, De Beauvoir Block

92-96 De Beauvoir Road

London

N1 4EN

REGISTERED NUMBER:

09750118 (England and Wales)

ACCOUNTANTS:

Crowe U.K. LLP

Riverside House

40-46 High Street

Maidstone

Kent

ME14 1JH

FIXED ASSETS

Intangible assets

4

29,931

55,544

Tangible assets

5

252,845

241,896

282,776

297,440

CURRENT ASSETS

Stocks

667,917

118,701

Debtors

6

1,635,450

2,053,011

Cash at bank

699,132

279,791

3,002,499

2,451,503

CREDITORS

Amounts falling due within one year

7

1,757,307

2,250,410

NET CURRENT ASSETS

1,245,192

201,093

TOTAL ASSETS LESS CURRENT LIABILITIES

1,527,968

498,533

CREDITORS

Amounts falling due after more than one year

8

63,316

57,930

NET ASSETS

1,464,652

440,603

CAPITAL AND RESERVES

Called up share capital

10

239

177

Share premium

11

8,906,758

3,979,212

Retained earnings

11

(7,442,345

)

(3,538,786

)

SHAREHOLDERS' FUNDS

1,464,652

440,603

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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

The financial statements were approved and authorised for issue by the Board of Directors on 28 January 2020 and were signed on its behalf by:

A T W Harris - Director

1.	STATUTORY INFORMATION

Alpha Charlie Ltd 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.

Principal activity

The principal activity of the company in the year under review was that of manufacture, wholesale and retail of

luxury clothing and apparel.

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.

Income is recognised at the date of dispatch when the risks and rewards of ownership pass to the customer.

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.

Computer software is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Short leasehold

-

10% on cost

Plant and machinery

-

33% on cost

Fixtures and fittings

-

33% on cost

Computer equipment

-

33% on cost

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 Income Statement, 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

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

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.

Going concern

Accounting standards require the directors to consider the appropriateness of the going concern basis when

preparing the financial statements. The directors confirm that they consider that the going concern basis remains

appropriate. Since the year end, the directors have prepared a three year plan for the business and the

company's shareholders have invested a further £1.6m in the company. Further funding may be required in the

coming 12 months and the directors are confident that this will be obtained.Thus they continue to adopt the

going concern basis of accounting in preparing the annual financial statements.

Debtors

Short term debtors are measured at transaction price, less any impairment.

Creditors

Short term creditors are measured at the transaction price.

Cash and Equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice

of not more then 24 hours. Cash equivalents are highly liquid investments that mature in no more than three

months from the date of acquisition and that are readily convertible to known accounts of cash with no significant

risk of change in value.

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of the financial

assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third

parties, loans to related parties and investments in non-puttable ordinary shares.

Financial reporting standard 102 - reduced disclosure exemptions

The company has taken advantage of the following disclosure exemptions in preparing these financial

statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic

of Ireland":

- the requirements of Section 7 Statement of Cash Flows;

- the requirements of Section 3 Financial Statement Presentation paragraph 3.17 (d);

- the requirements of Section 11 Financial Instruments paragraphs 11.39 to 11.48A;

- the requirements of Section 12 Other Financial Instruments paragraphs 12.26 to 12.29;

- the requirements of Section 26 Share-based Payment paragraphs 26.18(b), 26.19 to 26.21 and 26.23;

- the requirements of Section 33 Related Party Disclosures paragraph 33.7.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 23 (2018 - 18 ) .

4.	INTANGIBLE FIXED ASSETS

Computer

software

£

COST

At 1 April 2018

and 31 March 2019

76,839

AMORTISATION

At 1 April 2018

21,295

Amortisation for year

25,613

At 31 March 2019

46,908

NET BOOK VALUE

At 31 March 2019

29,931

At 31 March 2018

55,544

5.	TANGIBLE FIXED ASSETS

Fixtures

Short

Plant and

and

Computer

leasehold

machinery

fittings

equipment

Totals

£

£

£

£

£

COST

At 1 April 2018

185,864

2,269

46,894

42,405

277,432

Additions

-

337

23,746

53,611

77,694

At 31 March 2019

185,864

2,606

70,640

96,016

355,126

DEPRECIATION

At 1 April 2018

11,330

719

11,753

11,734

35,536

Charge for year

18,587

756

31,268

16,134

66,745

At 31 March 2019

29,917

1,475

43,021

27,868

102,281

NET BOOK VALUE

At 31 March 2019

155,947

1,131

27,619

68,148

252,845

At 31 March 2018

174,534

1,550

35,141

30,671

241,896

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

1,057,912

1,052,400

Other debtors

577,538

1,000,611

1,635,450

2,053,011

Included in other debtors are debtors subject to limited recourse financing of £73,532 (2018: £48,564 in other

creditors) in ordinary course of business.

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade creditors

343,841

466,487

Taxation and social security

37,422

33,256

Other creditors

1,376,044

1,750,667

1,757,307

2,250,410

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Other creditors

63,316

57,930

As at 31 March 2019, the balance due on debenture loans included the principal of £45,000 and accrued interest

of £18,316. The total balance is repayable in 6 years from the date of the agreement and secured by way of a

first floating charge over all of the company's assets and undertakings.

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2019

2018

£

£

Between one and five years

160,000

280,000

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal value:

2019

2018

£

£

7,500,000

A Ordinary

£0.00001

75

75

13,490,427

B Ordinary

£0.00001

135

94

750,000

D Ordinary

£0.00001

8

8

2,122,841

E Ordinary

£0.00001

21

-

239

177

Shares were issued during the year as follows:

Cash at premium

4,068,427 B Ordinary shares valued at £0.00001 per share for £3,427,607

2,122,841 E Ordinary shares valued at £0.00001 per share for £1,500,001

11.

RESERVES

Retained

Share

earnings

premium

Totals

£

£

£

At 1 April 2018

(3,538,786

)

3,979,212

440,426

Deficit for the year

(3,903,559

)

(3,903,559

)

New share issue

-

4,927,546

4,927,546

At 31 March 2019

(7,442,345

)

8,906,758

1,464,413

12.	PENSION COMMITMENTS

The company operates a defined contributions pension scheme. The assets of the scheme are held separately

from those of the company in an independently administered fund. The pension cost charged represents

contributions payable by the company during the year to the fund and amounted to £11,301 (2018: £735). At the

year end date, £4,675 (2018: £Nil) was owed by the company to the fund.