Alfresco Investments Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 11673620 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2021

FOR

ALFRESCO INVESTMENTS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr N P Briant

Mrs G Briant

SECRETARIES:

Mr N P Briant

Mrs G Briant

REGISTERED OFFICE:

85 Ringwood Road

Poole

United Kingdom

BH14 0RH

REGISTERED NUMBER:

11673620 (England and Wales)

ACCOUNTANTS:

Lewis Brownlee (Chichester) Limited

Chartered Accountants

Appledram Barns

Birdham Road

Chichester

West Sussex

PO20 7EQ

FIXED ASSETS

Intangible assets

4

7,492

-

Tangible assets

5

266,336

40,804

273,828

40,804

CURRENT ASSETS

Stocks

500,000

125,000

Debtors

6

548,657

335,447

Cash at bank

218,533

713,685

1,267,190

1,174,132

CREDITORS

Amounts falling due within one year

7

950,766

792,823

NET CURRENT ASSETS

316,424

381,309

TOTAL ASSETS LESS CURRENT LIABILITIES

590,252

422,113

CREDITORS

Amounts falling due after more than one year

8

(37,221

)

(45,833

)

PROVISIONS FOR LIABILITIES

(23,476

)

(4,235

)

NET ASSETS

529,555

372,045

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

529,553

372,043

529,555

372,045

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2021 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 August 2022 and were signed on its behalf by:

Mr N P Briant - Director

1.	STATUTORY INFORMATION

Alfresco Investments 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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 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.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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 ten years.

Tangible fixed assets

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

Improvements to property

-

20% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Computer equipment

-

25% on cost

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.

Stocks

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

Financial instruments

Financial instruments are classified by the director as basic or advanced following the conditions in FRS102 Section 11. Basic financial instruments are recognised at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost. The company has no advanced financial instruments.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2020 - 3 ) .

4.	INTANGIBLE FIXED ASSETS

Computer

software

£

COST

Additions

8,100

At 30 November 2021

8,100

AMORTISATION

Amortisation for year

608

At 30 November 2021

608

NET BOOK VALUE

At 30 November 2021

7,492

5.	TANGIBLE FIXED ASSETS

Fixtures

Improvements

and

Computer

to property

fittings

equipment

Totals

£

£

£

£

COST

At 1 December 2020

38,658

-

2,940

41,598

Additions

165,039

106,725

1,769

273,533

At 30 November 2021

203,697

106,725

4,709

315,131

DEPRECIATION

At 1 December 2020

758

-

36

794

Charge for year

30,506

16,538

957

48,001

At 30 November 2021

31,264

16,538

993

48,795

NET BOOK VALUE

At 30 November 2021

172,433

90,187

3,716

266,336

At 30 November 2020

37,900

-

2,904

40,804

6.

DEBTORS

2021

2020

£

£

Amounts falling due within one year:

Trade debtors

16,733

36,074

Other debtors

507,924

270,873

524,657

306,947

Amounts falling due after more than one year:

Other debtors

24,000

28,500

Aggregate amounts

548,657

335,447

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Bank loans and overdrafts

9,588

4,167

Trade creditors

18,135

169,048

Taxation and social security

315,877

181,119

Other creditors

607,166

438,489

950,766

792,823

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Bank loans

37,221

45,833

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 November 2021 and 30 November 2020:

2021

2020

£

£

Mr N P Briant

Balance outstanding at start of year

59,613

-

Amounts advanced

915,603

59,613

Amounts repaid

(661,083

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

314,133

59,613