Alliance Group Solutions Limited - Period Ending 2022-03-31
Alliance Group Solutions Limited - Period Ending 2022-03-31
Registration number:
Alliance Group Solutions Limited
for the Year Ended 31 March 2022
Alliance Group Solutions Limited
Contents
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Company Information |
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Strategic Report |
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Directors' Report |
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Independent Accountants' Review |
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Consolidated Profit and Loss Account |
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Consolidated Balance Sheet |
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Balance Sheet |
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Consolidated Statement of Changes in Equity |
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Statement of Changes in Equity |
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Notes to the Financial Statements |
Alliance Group Solutions Limited
Company Information
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Directors |
J Gregory A C Wood |
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Registered office |
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Bankers |
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Accountants |
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Alliance Group Solutions Limited
Strategic Report for the Year Ended 31 March 2022
The directors present their strategic report for the year ended 31 March 2022.
Fair review of the business
The financial results for the year have once again improved with increased margins across the group whilst maintaining turnover.
Despite the pandemic and uncertainty due to external supply costs the overall Group has performed well with additional frameworks being awarded. The Group is showing a very healthy order book post year end.
Contracting
Working closely with current and new clients has lead to Contracting having a number of existing frameworks having rates increased in line with increased costs within the year. This has been due to the excellent working relationship that has been developed and maintained over recent years.
The business is constantly taking steps to manage the working capital cycle and these changes are continuing to produce good results.
Flood Solutions
Once again the year ended with excellent results and is showing promising results for the year. One of our clients continued with an increased spend after recognising the capability of the company.
Consulting
By working closely with Contracting and Flood good results have been achieved leading to an increase in turnover and margin. Two clients have recognised the benefits that Consulting brings to the other aspects that the companies deliver by utilising the internal resources that the company holds.
Possible impact of the Pandemic on the Group
As part of our business continuity procedure we have been keeping in close contact with our supply chain to understand the possible risk to both our business and the impact that it could have on projects for our clients.
Regular reviews have been carried out as any changes have occurred, these reviews includes consideration of the following:
- Ability of our Suppliers to meet their obligations to us.
- Anticipating and dealing with any factors which might detrimentally affect our clients.
- Possible change in the cost and availability of materials.
Principal risks and uncertainties
Management and the board regularly review the risks facing the group. The Board of Directors is satisfied that the business has successfully developed a framework of policies that will minimise risks and uncertainties in running the business. The board focuses on actively securing the company’s short to medium term cash flows by maintaining the exposure to financial risks.
Alliance Group Solutions Limited
Strategic Report for the Year Ended 31 March 2022
Financial instruments
The business's principal financial instruments comprise of its bank balances, trade debtors and loans.
The main purpose of these are to ensure that the business has sufficient finance for its operations. The company does not actively engage in the trading of financial assets for speculative purposes nor does enter into any forward contracts, options or any financial instruments of a derivative nature.
The main risks arising from the business's financial instruments are interest rate risk, liquidity risk and credit risk.
Credit risk:
The business's trade and other receivables are actively monitored to avoid significant concentrations of credit risk. The business reviews the credit quality of customers and limits credit exposures accordingly.
Liquidity and cashflow risk:
The business holds financial instruments to finance its operations and manages risks arising from these operations and its sources of finance in accordance with its accounting policies. In addition, various financial instruments, such as trade debtors and trade creditors arise directly from the Business's operations. Operations and working capital requirements are funded out of short term banking facilities, operating leases and invoice discounting.
Interest rate risk:
The business finances it working capital using invoice discounting which charges interest based upon the funder’s rate. The Board of Directors monitors the interest charges and rates on a monthly basis.
Approved by the
Director
Alliance Group Solutions Limited
Directors' Report for the Year Ended 31 March 2022
The directors present their report for the year ended 31 March 2022.
Statement of directors' responsibilities
The directors are responsible for preparing the directors' report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the profit or loss of the company for that period.
In preparing these financial statements, the directors are required to:
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make judgments and accounting estimates that are reasonable and prudent; |
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select suitable accounting policies and then apply them consistently; |
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the group's and the company's transactions and disclose with reasonable accuracy at any time the financial position of the group and the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the group and the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Director of the group
The directors who held office during the year were as follows:
Principal activity
The principal activity of the group is that of design of water engineering projects, flood defence systems and civil engineering projects.
Small companies provision statement
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Approved by the
Director
Alliance Group Solutions Limited
Independent Accountants' Review Report to the Directors of Alliance Group Solutions Limited
We have reviewed the financial statements of Alliance Group Solutions Limited for the year ended 31 March 2022, which comprise the Profit and Loss Account, the Balance Sheet, Statement of Changes in Equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards including Financial Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
Directors’ responsibility for the financial statements
As explained more fully in the Directors’ Responsibilities Statement set out on page 4, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view.
Accountants’ responsibility
Our responsibility is to express a conclusion based on our review of the financial statements. We conducted our review in accordance with International Standard on Review Engagements (ISRE) 2400 (Revised), Engagements to review historical financial statements. ISRE 2400 (Revised) requires us to conclude whether anything has come to our attention that causes us to believe that the financial statements, taken as a whole, are not prepared, in all material respects, in accordance with United Kingdom Generally Accepted Accounting Practice. ISRE 2400 (Revised) also requires us to comply with the ACCA Code of Ethics.
Scope of the assurance review
A review of financial statements in accordance with ISRE 2400 (Revised) is a limited assurance engagement. We have performed procedures, primarily consisting of making enquiries of management and others within the company, as appropriate, applying analytical procedures and evaluating the evidence obtained. The procedures performed in a review are substantially less than those performed in an audit conducted in accordance with International Standards on Auditing (UK). Accordingly, we do not express an audit opinion on these financial statements.
Conclusion
Based on our review, nothing has come to our attention that causes us to believe that the financial statements have not been prepared:
• | so as to give a true and fair view of the state of the group's and the company's affairs as at 31 March 2022 and of the group's profit for the year then ended; |
• | in accordance with United Kingdom Generally Accepted Accounting Practice applicable to smaller entities; and |
• | in accordance with the requirements of the Companies Act 2006. |
Alliance Group Solutions Limited
Independent Accountants' Review Report to the Directors of Alliance Group Solutions Limited
Use of our report
This report is made solely to the company's directors, as a body, in accordance with the terms of our engagement letter dated 14 November 2022. Our review work has been undertaken so that we might state to the company’s directors those matters we have agreed to state to them in a reviewer’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's directors as a body for our review work, for this report or the opinions we have formed.
For and on behalf of
5 Prospect Place
Millennium Way
Pride Park
DE24 8HG
Alliance Group Solutions Limited
Consolidated Profit and Loss Account for the Year Ended 31 March 2022
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2022 |
2021 |
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Turnover |
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Cost of sales |
( |
( |
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Gross profit |
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Administrative expenses |
( |
( |
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Other operating income |
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Operating profit |
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Other interest receivable and similar income |
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- |
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Interest payable and similar expenses |
( |
( |
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Profit before tax |
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Taxation |
( |
( |
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Profit for the financial year |
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Profit/(loss) attributable to: |
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Owners of the company |
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Minority interests |
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Alliance Group Solutions Limited
(Registration number: 08672883)
Consolidated Balance Sheet as at 31 March 2022
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Note |
2022 |
2021 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
- |
( |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Capital redemption reserve |
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Profit and loss account |
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Equity attributable to owners of the company |
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Minority interests |
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Total equity |
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Alliance Group Solutions Limited
(Registration number: 08672883)
Consolidated Balance Sheet as at 31 March 2022
For the financial year ending 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Approved and authorised by the
Director
Alliance Group Solutions Limited
(Registration number: 08672883)
Balance Sheet as at 31 March 2022
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Note |
2022 |
2021 |
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Fixed assets |
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Tangible assets |
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Investments |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
- |
( |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Capital redemption reserve |
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Profit and loss account |
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Total equity |
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The company made a profit after tax for the financial year of £401,159 (2021 - profit of £174,075).
Alliance Group Solutions Limited
(Registration number: 08672883)
Balance Sheet as at 31 March 2022
For the financial year ending 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Approved and authorised by the
Director
Alliance Group Solutions Limited
Consolidated Statement of Changes in Equity for the Year Ended 31 March 2022
Equity attributable to the parent company
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Share capital |
Capital redemption reserve |
Profit and loss account |
Total |
Non- controlling interests |
Total equity |
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At 1 April 2021 |
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Profit for the year |
- |
- |
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Total comprehensive income |
- |
- |
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Dividends |
- |
- |
( |
( |
( |
( |
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Transfers |
- |
- |
(33,447) |
(33,447) |
33,447 |
- |
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At 31 March 2022 |
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Share capital |
Capital redemption reserve |
Profit and loss account |
Total |
Non- controlling interests |
Total equity |
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At 1 April 2020 |
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Profit for the year |
- |
- |
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Total comprehensive income |
- |
- |
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Dividends |
- |
- |
( |
( |
( |
( |
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Transfers |
- |
- |
(29,357) |
(29,357) |
29,357 |
- |
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At 31 March 2021 |
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Alliance Group Solutions Limited
Statement of Changes in Equity for the Year Ended 31 March 2022
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Share capital |
Capital redemption reserve |
Profit and loss account |
Total |
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At 1 April 2021 |
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Profit for the year |
- |
- |
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Total comprehensive income |
- |
- |
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Dividends |
- |
- |
( |
( |
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At 31 March 2022 |
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Share capital |
Capital redemption reserve |
Profit and loss account |
Total |
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At 1 April 2020 |
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Profit for the year |
- |
- |
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Total comprehensive income |
- |
- |
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Dividends |
- |
- |
( |
( |
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At 31 March 2021 |
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Alliance Group Solutions Limited
Notes to the Financial Statements for the Year Ended 31 March 2022
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General information |
The company is a private limited company by share capital incorporated in England.
The address of the registered office is given in the company information on page 1 of the financial statements.
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements were prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The financial statements are presented in Sterling (£) and rounded to the nearest £1.
Basis of consolidation
The consolidated financial statements consolidate the financial statements of the company and its subsidiary undertakings drawn up to 31 March 2022.
A subsidiary is an entity controlled by the company. Control is achieved where the company has the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities.
Inter-company transactions, balances and unrealised gains on transactions between the company and its subsidiaries, which are related parties, are eliminated in full.
Intra-group losses are also eliminated but may indicate an impairment that requires recognition in the consolidated financial statements.
Accounting policies of subsidiaries have been changed where necessary to ensure consistency with the policies adopted by the group. Non-controlling interests in the net assets of consolidated subsidiaries are identified separately from the group’s equity therein. Non-controlling interests consist of the amount of those interests at the date of the original business combination and the non-controlling shareholder’s share of changes in equity since the date of the combination.
Going concern
The financial statements have been prepared on a going concern basis.
Alliance Group Solutions Limited
Notes to the Financial Statements for the Year Ended 31 March 2022
Key sources of estimation uncertainty
In the application of the group’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors considered to be relevant. Actual results may differ from these
estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to estimates are recognised in the period in which the estimate is revised, if the revision only affects that period, or in the period of revision and future period if the revision affects both the current and future periods.
The estimates and assumptions which have risk of causing material adjustment to the carrying amount of assets and liabilities are set out below:
Revenue recognition and amounts recoverable on contracts:
Judgement is required to identify when it is appropriate to recognise revenue on contracts. Management estimate this based on their knowledge of the contract at the balance sheet date and also take previous experience into account.
Impairment of debtors:
On a periodic basis management makes an estimation of the recoverability of debtors. Management make such estimations based on the ageing profile, and historical experience.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the group’s activities. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company.
The group recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the group's activities.
Government grants
Government grants are recognised in the profit and loss account as income when such grant does not impose specified future performance-related conditions, in accordance with the performance model.
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Alliance Group Solutions Limited
Notes to the Financial Statements for the Year Ended 31 March 2022
Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
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Asset class |
Depreciation method and rate |
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Plant and machinery |
25% reducing balance |
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Furniture, fittings and equipment |
25%/33% reducing balance |
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Motor vehicles |
25% reducing balance |
Investments
Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
Long term contracts
Profit on long-term contracts is taken as the work is carried out if the final outcome can be assessed with reasonable certainty. The profit included is calculated on a prudent basis to reflect the proportion of work carried out at the year end, by recording turnover and related cost as contract activity progresses. Turnover is calculated as that proportion of total contract value which costs incurred to date bear to total expected costs for that contract. Revenues derived from variations on contracts are recognised only when they have been accepted by the customer. Full provision is made for losses on all contracts in the year in which they are first foreseen.
Inventories
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
Alliance Group Solutions Limited
Notes to the Financial Statements for the Year Ended 31 March 2022
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the group has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Leases
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
Dividends
Dividend distribution to the group’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the group has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
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Staff numbers |
The average number of persons employed by the group (including directors) during the year, was
Alliance Group Solutions Limited
Notes to the Financial Statements for the Year Ended 31 March 2022
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Tangible assets |
Group
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Furniture, fittings and equipment |
Motor vehicles |
Plant and machinery |
Total |
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Cost or valuation |
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At 1 April 2021 |
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Additions |
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- |
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At 31 March 2022 |
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Depreciation |
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At 1 April 2021 |
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Charge for the year |
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At 31 March 2022 |
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Carrying amount |
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At 31 March 2022 |
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At 31 March 2021 |
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Alliance Group Solutions Limited
Notes to the Financial Statements for the Year Ended 31 March 2022
Company
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Furniture, fittings and equipment |
Motor vehicles |
Total |
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Cost or valuation |
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At 1 April 2021 |
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Additions |
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- |
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At 31 March 2022 |
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Depreciation |
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At 1 April 2021 |
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Charge for the year |
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At 31 March 2022 |
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Carrying amount |
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At 31 March 2022 |
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At 31 March 2021 |
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Investments |
Group
Details of undertakings
Details of the investments in which the group holds 20% or more of the nominal value of any class of share capital are as follows:
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Undertaking |
Registered office |
Holding |
Proportion of voting rights and shares held |
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2022 |
2021 |
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Subsidiary undertakings |
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Lowmoor Business Park, Kirkby in Ashfield, Nottinghamshire, NG17 7JZ |
Ordinary |
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Lowmoor Business Park, Kirkby in Ashfield, Nottinghamshire, NG17 7JZ |
Ordinary |
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Lowmoor Business Park, Kirkby in Ashfield, Nottinghamshire, NG17 7JZ |
Ordinary |
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Alliance Group Solutions Limited
Notes to the Financial Statements for the Year Ended 31 March 2022
Subsidiary undertakings
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Alliance Contracting Solutions Limited The principal activity of Alliance Contracting Solutions Limited is |
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Alliance Consulting Solutions Limited The principal activity of Alliance Consulting Solutions Limited is |
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Alliance Flood Solutions Limited The principal activity of Alliance Flood Solutions Limited is |
Company
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2022 |
2021 |
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Investments in subsidiaries |
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Subsidiaries |
£ |
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Cost or valuation |
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At 1 April 2021 |
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At 31 March 2022 |
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Carrying amount |
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At 31 March 2022 |
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At 31 March 2021 |
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Stocks |
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Group |
Company |
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2022 |
2021 |
2022 |
2021 |
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Stock |
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- |
- |
Alliance Group Solutions Limited
Notes to the Financial Statements for the Year Ended 31 March 2022
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Debtors |
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Group |
Company |
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2022 |
2021 |
2022 |
2021 |
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Trade debtors |
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Amounts owed by group undertakings |
- |
- |
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Other debtors |
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Prepayments |
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Creditors |
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Group |
Company |
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Note |
2022 |
2021 |
2022 |
2021 |
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Due within one year |
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Loans and borrowings |
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Trade creditors |
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Amounts due to group undertakings |
- |
- |
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Social security and other taxes |
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Other creditors |
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Accrued expenses |
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Deferred income |
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Due after one year |
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Other creditors |
- |
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- |
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Pension and other schemes |
Defined contribution pension scheme
The group operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the group to the scheme and amounted to £
Alliance Group Solutions Limited
Notes to the Financial Statements for the Year Ended 31 March 2022
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Loans and borrowings |
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Group |
Company |
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2022 |
2021 |
2022 |
2021 |
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Current loans and borrowings |
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Other borrowings |
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Group
Liabilities in respect of invoice discounting of £47,233 (2021 - £376,026) are secured on the book debts of the group and by virtue of a fixed and floating charge over the group's assets and undertakings.
Company
Liabilities in respect of invoice discounting of £14,941 (2021 - £44,979) are secured on the book debts of the company and by virtue of a fixed and floating charge over the group's assets and undertakings.
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Obligations under leases and hire purchase contracts |
Group
Operating leases
The total of future minimum lease payments is as follows:
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2022 |
2021 |
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Not later than one year |
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Later than one year and not later than five years |
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Company
Operating leases
The total of future minimum lease payments is as follows:
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2022 |
2021 |
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Not later than one year |
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Later than one year and not later than five years |
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Alliance Group Solutions Limited
Notes to the Financial Statements for the Year Ended 31 March 2022
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Share capital |
Allotted, called up and fully paid shares
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2022 |
2021 |
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No. |
£ |
No. |
£ |
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Ordinary A shares of £1 each |
20 |
20 |
20 |
20 |
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Ordinary B shares of £1 each |
20 |
20 |
20 |
20 |
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Ordinary C shares of £1 each |
10 |
10 |
10 |
10 |
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Ordinary D shares of £1 each |
10 |
10 |
10 |
10 |
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Contingent liabilities |
Company
The company has entered into cross guarantees with its finance providers in respect of the liabilities of the group and related companies. This is supported by a corporate guarantee over the company's assets. The contingent liability at the balance sheet date is £1,620 (2021 - £148,922). The future outcome is dependent upon the performance of individual companies concerned however the directors do not expect any liability to crystallise.
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Related party transactions |
Group
Shareholders of the group and subsidiaries
At the balance sheet date amounts owed to the shareholders amounted to £121,699 (2021 - £18,329) and amounts owed by shareholders amounted to £1,230 (2021 - £2,936).
Transactions with directors
At the balance sheet date amounts owed to the directors amounted to £43,050 (2021 - £nil).
Transactions with other related parties
Certain directors and ultimate beneficial shareholders have given a personal guarantee in respect of the group's bank or finance facilities to the value of £95,000 (2021 - £95,000). The value of the liability at the year end is £16,561 (2021 - £376,027).
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Parent and ultimate parent undertaking |
There is no ultimate controlling party due to the shareholdings.
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Non adjusting events after the financial period |
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