Alarms And Electrical (Devizes) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01283841 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2020

for

Alarms And Electrical (Devizes) Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

P E Townsend

P Cave

REGISTERED OFFICE:

Units 2-3

Hopton Industrial Estate

Devizes

SN10 2EU

REGISTERED NUMBER:

01283841 (England and Wales)

ACCOUNTANTS:

Silbury Accountants Limited

Chartered Accountants

Oak Apple House

North Street

Milborne Port

Sherborne

DT9 5EW

FIXED ASSETS

Property, plant and equipment

4

211,093

219,557

CURRENT ASSETS

Inventories

30,258

28,917

Debtors

5

174,526

324,535

Cash at bank and in hand

99,123

12,987

303,907

366,439

CREDITORS

Amounts falling due within one year

6

209,597

258,814

NET CURRENT ASSETS

94,310

107,625

TOTAL ASSETS LESS CURRENT LIABILITIES

305,403

327,182

CREDITORS

Amounts falling due after more than one year

7

(90,977

)

(50,038

)

PROVISIONS FOR LIABILITIES

(3,322

)

(3,651

)

NET ASSETS

211,104

273,493

CAPITAL AND RESERVES

Called up share capital

9

3,000

3,000

Share premium

500

500

Capital redemption reserve

1,450

1,450

Retained earnings

206,154

268,543

SHAREHOLDERS' FUNDS

211,104

273,493

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 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 by the Board of Directors and authorised for issue on 21 May 2021 and were signed on its behalf by:

P E Townsend - Director

1.	STATUTORY INFORMATION

Alarms And Electrical (Devizes) 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

Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Land and buildings

-

2% on cost

Plant and machinery etc

-

25% on cost and 20% on cost

Government grants

Following the impact of Covid19 in March 2020 on businesses, the government has provided grants to businesses in the form of staff furlough payments and a small business grant from Wiltshire Council. Both of these grants are classed as taxable income and appear separately as 'other income' in the income statement.

Stocks

Inventories 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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 15 (2019 - 16 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 January 2020

243,785

243,896

487,681

Additions

-

390

390

Disposals

-

(57,524

)

(57,524

)

At 31 December 2020

243,785

186,762

430,547

DEPRECIATION

At 1 January 2020

30,934

237,190

268,124

Charge for year

4,876

3,978

8,854

Eliminated on disposal

-

(57,524

)

(57,524

)

At 31 December 2020

35,810

183,644

219,454

NET BOOK VALUE

At 31 December 2020

207,975

3,118

211,093

At 31 December 2019

212,851

6,706

219,557

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.20

31.12.19

£

£

Trade debtors

150,029

305,577

Other debtors

24,497

18,958

174,526

324,535

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.20

31.12.19

£

£

Bank loans and overdrafts

8,569

26,561

Trade creditors

12,206

35,065

Taxation and social security

66,676

64,103

Other creditors

122,146

133,085

209,597

258,814

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.20

31.12.19

£

£

Bank loans

40,977

50,038

Other creditors

50,000

-

90,977

50,038

31.12.20

31.12.19

£

£

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

6,701

17,731

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.20

31.12.19

£

£

Bank loans

49,546

58,115

A fixed charge is in place on freehold property.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.20

31.12.19

value:

£

£

2,900

Ordinary

1

2,900

2,900

100

B ordinary

1

100

100

3,000

3,000

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The directors loan account was overdrawn by £426 at 31 December 2020. This amount was repaid 30 April 2021.

11.	RELATED PARTY DISCLOSURES

During the year, total dividends of £70,000 (2019 - £76,000) were paid to the directors .

12.	GOING CONCERN

The arrival of Covid19 in March 2020 has impacted significantly on trade for the year ended 31 December 2020. The announcement of government trading restrictions and cancellation of contracts resulted in trading being reduced to emergency electrical cover. Once the restrictions eased, the company returned to full trading until November 2020 when further government restrictions were announced. Covid19 is continuing to affect trade in the year ending 31 December 2021. The directors believe the company will continue to be profitable and have considered the likely trading conditions for a period of 12 months from the date of approval of these accounts. As such the directors believe the company is a going concern.