A L Dalton Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 00148767 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

FOR

A L DALTON LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

C Sharp

A Walsh

S C Balchin

A J N Dalton

REGISTERED OFFICE:

Crossgate Drive

Queens Drive Industrial Estate

Nottingham

Nottinghamshire

NG2 1LW

REGISTERED NUMBER:

00148767 (England and Wales)

ACCOUNTANTS:

Lemans

29 Arboretum Street

Nottingham

Nottinghamshire

NG1 4JA

FIXED ASSETS

Intangible assets

4

43,272

39,895

Tangible assets

5

810,451

728,933

Investments

6

20,000

20,000

873,723

788,828

CURRENT ASSETS

Stocks

667,460

418,337

Debtors

7

399,836

338,115

Cash at bank and in hand

1,131,951

496,826

2,199,247

1,253,278

CREDITORS

Amounts falling due within one year

8

1,614,725

1,153,116

NET CURRENT ASSETS

584,522

100,162

TOTAL ASSETS LESS CURRENT LIABILITIES

1,458,245

888,990

CREDITORS

Amounts falling due after more than one year

9

(87,243

)

(61,214

)

PROVISIONS FOR LIABILITIES

(19,221

)

(19,221

)

NET ASSETS

1,351,781

808,555

CAPITAL AND RESERVES

Called up share capital

11

1,502

1,502

Revaluation reserve

12

484,623

493,910

Capital redemption reserve

12

1,502

1,502

Retained earnings

12

864,154

311,641

SHAREHOLDERS' FUNDS

1,351,781

808,555

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 27 September 2022 and were signed on its behalf by:

A J N Dalton - Director

1.	STATUTORY INFORMATION

A L Dalton 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 as modified by the revaluation of certain assets.

The company's financial statements have been prepared on a going concern basis on the grounds that current and future sources of funding or support will be more than adequate for the company's needs. The directors have considered a period of twelve months from the date of approval of the financial statements and do not consider that any further disclosures are necessary.

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.

Long leasehold

-

Over lease term : straight line basis

Plant and machinery

-

25% on cost

Fixtures and fittings

-

33% on cost

Motor vehicles

-

25% on cost

Computer equipment

-

50% on cost

The long leasehold asset is held on a lease over 99 years which commenced 24 June 1973.

The company has adopted the revaluation model for Long Leasehold Property which is therefore included at its fair value. Fair value is determined from market based evidence. Revaluations are made with sufficient regularity to ensure the carrying value does not differ materially from the fair value at the year end. The directors consider this is achieved by revaluations on a five yearly cycle unless market conditions suggest otherwise.

Investments in associates

Investments in associate undertakings are recognised at cost.

Stocks

Stock and work in progress 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.

Operating lease rentals are charged in the profit and loss account on a straight line basis over the lease term.

Pension costs and other post-retirement benefits

The company operates defined contribution pension schemes. Contributions payable for the year are charged in the profit and loss account.

Accounting convention

The accounts have been prepared on a going concern basis, which the directors consider to be justifiable.They also believes that the bank will continue to offer their support.

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at the transaction price.

Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 34 (2020 - 30 ) .

4.	INTANGIBLE FIXED ASSETS

Patents

and

licences

£

COST

At 1 January 2021

95,144

Additions

8,000

At 31 December 2021

103,144

AMORTISATION

At 1 January 2021

55,249

Amortisation for year

4,623

At 31 December 2021

59,872

NET BOOK VALUE

At 31 December 2021

43,272

At 31 December 2020

39,895

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any impairment losses.

5.	TANGIBLE FIXED ASSETS

Fixtures

Long

Plant and

and

leasehold

machinery

fittings

£

£

£

COST OR VALUATION

At 1 January 2021

600,000

158,147

190,086

Additions

-

8,410

4,300

Disposals

-

-

-

At 31 December 2021

600,000

166,557

194,386

DEPRECIATION

At 1 January 2021

-

158,147

183,926

Charge for year

11,650

1,680

3,700

Eliminated on disposal

-

-

-

At 31 December 2021

11,650

159,827

187,626

NET BOOK VALUE

At 31 December 2021

588,350

6,730

6,760

At 31 December 2020

600,000

-

6,160

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST OR VALUATION

At 1 January 2021

231,319

177,561

1,357,113

Additions

122,379

13,196

148,285

Disposals

(28,320

)

-

(28,320

)

At 31 December 2021

325,378

190,757

1,477,078

DEPRECIATION

At 1 January 2021

127,414

158,693

628,180

Charge for year

40,091

5,292

62,413

Eliminated on disposal

(23,966

)

-

(23,966

)

At 31 December 2021

143,539

163,985

666,627

NET BOOK VALUE

At 31 December 2021

181,839

26,772

810,451

At 31 December 2020

103,905

18,868

728,933

Cost or valuation at 31 December 2021 is represented by:

Fixtures

Long

Plant and

and

leasehold

machinery

fittings

£

£

£

Valuation in 2006

365,178

-

-

Valuation in 2015

10,000

-

-

Valuation in 2020

(60,000

)

-

-

Cost

284,822

166,557

194,386

600,000

166,557

194,386

Motor

Computer

vehicles

equipment

Totals

£

£

£

Valuation in 2006

-

-

365,178

Valuation in 2015

-

-

10,000

Valuation in 2020

-

-

(60,000

)

Cost

325,378

190,757

1,161,900

325,378

190,757

1,477,078

If long leasehold property had not been revalued it would have been included at the following historical cost:

31.12.19

31.12.18

£

£

Cost

284,822

284,822

Aggregate depreciation

159,538

157,174

Long leasehold property was valued on an open market basis as at 31 December 2020 by FHP Property Consultants.

Fixed assets, included in the above, which are held under finance leases are as follows:

Motor

vehicles

£

COST OR VALUATION

At 1 January 2021

149,900

Additions

97,984

Disposals

(11,000

)

At 31 December 2021

236,884

DEPRECIATION

At 1 January 2021

60,642

Charge for year

34,756

Eliminated on disposal

(6,646

)

At 31 December 2021

88,752

NET BOOK VALUE

At 31 December 2021

148,132

At 31 December 2020

89,258

6.	FIXED ASSET INVESTMENTS

Interest

in

associate

£

COST

At 1 January 2021

and 31 December 2021

20,000

NET BOOK VALUE

At 31 December 2021

20,000

At 31 December 2020

20,000

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.21

31.12.20

£

£

Trade debtors

384,430

307,916

Other debtors

2,734

16,653

Prepayments

12,672

13,546

399,836

338,115

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.21

31.12.20

£

£

Bank loans and overdrafts

44,404

50,000

Other loans

10,060

10,060

Finance leases

49,369

27,377

Trade creditors

570,386

134,078

Corporation tax

116,891

40,932

Social security and other taxes

334,443

358,802

Other creditors

17,137

22,759

Directors' loan accounts

454,332

488,218

Accrued expenses

17,703

20,890

1,614,725

1,153,116

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.21

31.12.20

£

£

Other loans

11,107

19,798

Finance leases

76,136

41,416

87,243

61,214

10.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.21

31.12.20

£

£

Other loans

21,167

29,858

Finance leases

125,505

68,793

146,672

98,651

Debts are secured by a charge or lien over the company's assets.

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.21

31.12.20

value:

£

£

1,502

Ordinary

£1

1,502

1,502

12.

RESERVES

Capital

Retained

Revaluation

redemption

earnings

reserve

reserve

Totals

£

£

£

£

At 1 January 2021

311,641

493,910

1,502

807,053

Profit for the year

543,226

543,226

Transfer re depreciation on

revalued assets

9,287

(9,287

)

-

-

At 31 December 2021

864,154

484,623

1,502

1,350,279

13.	FINANCIAL COMMITMENTS

Total financial commitments include motor vehicle operating leases commitments of £140,560 (2020 - £18,008) and leasehold property lease commitments of £1,138,500 (2020 - £1,161,500) ( £23,000 pa expiring 24/06/2072).

14.	RELATED PARTY DISCLOSURES

(i) Included in creditors is a loan owing from the company to a director of £454,332 (2020 - £488,218) the company paid interest of £16,996 on the loan during the year (2020 - £nil).

(ii) A director is also a director of the company 'Wadkin Classical Limited'. A L Dalton Limited is party to a licence agreement with the company. No licence fees were paid to Wadkin Classical Limited, which was dormant during the year (2020 - £nil). Amounts are included in the accounts of £6,189 - creditors (2020 - £6,189) relating to this company.

(iii) A L Dalton Limited hold a 22.22% interest in Stenner Limited. A L Dalton Limited made sales to and purchases from Stenner Limited during the year of £Nil (2020 - £3,600) and £468,052.76 (2020 - £276,022) respectively. Included in trade creditors is £167,068.39 (2020 - £Nil) owing to Stenner Limited. A management charge of £Nil (2019 - £1,500) and dividends of £20,000 (2019 - £15,554) were received from Stenner Limited during the year.