Allison Machinery Solutions Limited Accounts

ALLISON MACHINERY SOLUTIONS LIMITED - Company Information






Allison Machinery Solutions Limited

	Company No. 09271328
		Information for Filing with The Registrar
		31 October 2019

The Directors present their report and the accounts for the year ended 31 October 2019.

Principal activities
The principal activity of the company during the year under review was engineering.




Directors

The Directors who served at any time during the year were as follows:

H. Allison
M. Allison




































































The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006.

Signed on behalf of the board

H. Allison
Director
14 July 2020

at	31 October 2019
Company No.		09271328	Notes	2019	2018
				£	£
Fixed assets

	Tangible assets		4	-	15,774


				-	15,774
Current assets

	Debtors		5	1,840	7,067

	Cash at bank and in hand			1,197	1,108
				3,037	8,175
Creditors: Amount falling due within one year			6	(32,541)	(47,152)
Net current liabilities				(29,504)	(38,977)
Total assets less current liabilities				(29,504)	(23,203)




Net liabilities				(29,504)	(23,203)

Capital and reserves
	Called up share capital			100	100



	Profit and loss account		7	(29,604)	(23,303)

Total equity				(29,504)	(23,203)



These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.

For the year ended 31 October 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.



As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.

Approved by the board on 14 July 2020
And signed on its behalf by:
H. Allison
Director
14 July 2020

for the year ended 31 October 2019

General information

Its registered number is: 09271328

Its registered office is:

Forge Cottage Station Road

Scruton

Northallerton

North Yorkshire

DL7 0QP

The functional and presentational currency of the company is Sterling. The accounts are rounded to the nearest pound.

The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland (March 2018) and the Companies Act 2006. The March 2018 edition of FRS 102 includes amendments arising from the Financial Reporting Council's triennial review of the standard. There is no material effect on the amounts recognised in these financial statements as a result of early adopting these amendments.

Going concern

The company ceased to trade at 31st October 2019 and will commence wind up proceedings in the current year to 31st October 2020.

Accounting policies

Turnover

Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Revenue from the sale of goods is recognised when all the following conditions are satisfied:
• the Company has transferred to the buyer the significant risks and rewards of ownership of the
goods;
• the Company retains neither continuing managerial involvement to the degree usually associated
with ownership nor effective control over the goods sold;
• the amount of revenue can be measured reliably;
• it is probable that the economic benefits associated with the transaction will flow to the Company;
and
• the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed.

Tangible fixed assets and depreciation

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss.

Depreciation is provided at the following annual rates in order to write off the cost or valuation less the estimated residual value of each asset over its estimated useful life:

Plant and machinery

20% straight line

Motor vehicles

25% straight line

Furniture, fittings and equipment

33.33% straight line

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.

Trade and other creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Leased assets

Where the company enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease.

Leases which do not transfer substantially all the risks and rewards of ownership to the Company are classified as operating leases.

Assets held under finance leases are initially recognised as assets of the Company at their fair value at the inception of the lease or, if lower, at the present value of the minimum lease payments. The corresponding liability to the lessor is included in the balance sheet date as a finance lease obligation. Lease payments are apportioned between finance expenses and reduction of the lease obligation so as to achieve a constant rate of interest on the remaining balance of the liability. Finance expenses are recognised immediately in profit or loss, unless they are directly attributable to qualifying assets, in which case they are capitalised in accordance with the Company's policy on borrowing costs (see the accounting policy above).

Assets held under finance leases are depreciated in the same way as owned assets.

Operating lease payments are recognised as an expense on a straight-line basis over the lease term.

In the event that lease incentives are received to enter into operating leases, such incentives are recognised as a liability. The aggregate benefit of incentives is recognised as a reduction of rental expense on a straight-line basis.

Provisions

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.

Provisions are charged as an expense to the profit and loss account in the year that the Company becomes aware of the obligation, and are measured at the best estimate at balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.

When payments are eventually made, they are charged to the provision carried in the balance sheet.

3	Employees
			2019	2018
			Number	Number
		The average number of persons employed during the year :	1	1

4	Tangible fixed assets
			Plant and machinery	Motor vehicles	Fixtures, fittings and equipment	Total
			£	£	£	£
		Cost or revaluation
		At 1 November 2018	26,273	22,400	5,337	54,010



		Disposals	(26,273)	(22,400)	(5,337)	(54,010)
		At 31 October 2019	-	-	-	-
		Depreciation
		At 1 November 2018	17,935	15,057	5,244	38,236
		Charge for the year	5,255	4,600	92	9,947


		Disposals	(23,190)	(19,657)	(5,336)	(48,183)
		At 31 October 2019	-	-	-	-
		Net book values
		At 31 October 2019	-	-	-	-
		At 31 October 2018	8,338	7,343	93	15,774

5	Debtors
			2019	2018
			£	£
		Trade debtors	1,840	6,588






		Prepayments and accrued income	-	479
			1,840	7,067

6	Creditors:
		amounts falling due within one year
			2019	2018
			£	£

		Bank loans and overdrafts	-	4,166

		Obligations under finance lease and hire purchase contracts	-	5,587
		Trade creditors	2,496	2,875


		Other taxes and social security	-	2,493
		Loans from directors	28,553	31,884

		Accruals and deferred income	1,492	147
			32,541	47,152

Reserves

Profit and loss account - includes all current and prior period retained profits and losses.