AL002 Limited
AL002 Limited
Registered number: 14127496
Unaudited Financial Statements
For the Period
24 May 2022
to
31 May 2023
Ascendis Group
Chartered Certified Accountants, Taxation and Business Advisors
Unit 3, Building 2, The Colony Wilmslow
Altrincham Road
Wilmslow
Cheshire
SK9 4LY
AL002 Limited
Unaudited Financial Statements
For the Period
24 May 2022
to
31 May 2023
Unaudited Financial Statements
| Contents | |
| Page | |
|---|---|
| Accountant's Report | 1 |
| Balance Sheet | 2—3 |
| Notes to the Financial Statements | 4—6 |
AL002 Limited
Accountant's Report
For the Period
24 May 2022
to
31 May 2023
Accountant's Report
Report to the directors on the preparation of the unaudited statutory accounts of
AL002 Limited
for the period 24 May 2022 to 31 May 2023
To assist you to fulfil your duties under the Companies Act 2006, I have prepared for your approval the accounts of
AL002 Limited
which comprise the Profit and Loss Account, the Balance Sheet and the related notes, from the company’s accounting records and from information and explanations you have given us.
As a practising member of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html.
This report is made to the directors of
AL002 Limited
, as a body, in accordance with the terms of our engagement letter dated 21 July 2023. Our work has been undertaken solely to prepare for your approval the accounts of
AL002 Limited
and state those matters that we have agreed to state to the directors of
AL002 Limited
, as a body, in this report in accordance with the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than
AL002 Limited
and its directors as a body for our work or for this report.
It is your duty to ensure that
AL002 Limited
has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit or loss of
AL002 Limited
. You consider that
AL002 Limited
is exempt from the statutory audit requirement for the period.
We have not been instructed to carry out an audit or a review of the accounts of
AL002 Limited
. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
| Signed |
|
|
|
|
Chartered Certified Accountants, Taxation and Business Advisors
Unit 3, Building 2, The Colony Wilmslow
Altrincham Road
Wilmslow
Cheshire
SK9 4LY
AL002 Limited
Balance Sheet
As At
31 May 2023
Balance Sheet
Registered number:
14127496
For the period ending 31 May 2023 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 Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
| 31 May 2023 | |||
|---|---|---|---|
| Notes | £ | £ | |
| FIXED ASSETS | |||
| Investment Properties | 4 |
|
|
|
|
|||
| CURRENT ASSETS | |||
| Debtors | 5 |
|
|
| Cash at bank and in hand |
|
||
|
|
|||
| Creditors: Amounts Falling Due Within One Year | 6 |
( |
|
| NET CURRENT ASSETS (LIABILITIES) |
( |
||
| TOTAL ASSETS LESS CURRENT LIABILITIES |
|
||
| Creditors: Amounts Falling Due After More Than One Year | 7 |
( |
|
| NET LIABILITIES |
( |
||
| CAPITAL AND RESERVES | |||
| Called up share capital | 8 |
|
|
| Fair Value Reserve | 9 |
|
|
| Profit and Loss Account |
( |
||
| SHAREHOLDERS' FUNDS | (58,996) | ||
AL002 Limited
Balance Sheet (continued)
As At
31 May 2023
On behalf of the board
|
Director
|
|
|
The notes on pages 4 to 6 form part of these financial statements.
AL002 Limited
Notes to the Financial Statements
For the Period
24 May 2022
to
31 May 2023
Notes to the Financial Statements
1.
General Information
AL002 Limited
is a private company, limited by shares, incorporated in England & Wales, registered number
14127496
. The registered office is 18 Arley Avenue, Manchester, Greater Manchester, M20 2LQ.
2.
Accounting Policies
2.1.
Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3.
Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.4.
Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5.
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
The company has taxable losses of £209,084 to be carried forward and utilised against future profits.
3.
Average Number of Employees
Average number of employees, including directors, during the year was as follows: 2
AL002 Limited
Notes to the Financial Statements (continued)
For the Period
24 May 2022
to
31 May 2023
4.
Investment Property
| 31 May 2023 | |
|---|---|
| £ | |
| Fair Value | |
| As at
|
|
| Additions |
|
| Revaluations | 273,132 |
| As at
|
|
5.
Debtors
| 31 May 2023 | |
|---|---|
| £ | |
| Due within one year | |
| Amounts owed by participating interests | 50,420 |
| Other debtors | 11,365 |
|
|
|
6.
Creditors: Amounts Falling Due Within One Year
| 31 May 2023 | |
|---|---|
| £ | |
| Amounts owed to participating interests |
|
| Other creditors | 99,146 |
|
|
|
7.
Creditors: Amounts Falling Due After More Than One Year
| 31 May 2023 | |
|---|---|
| £ | |
| Mortgage- PMJ Loan |
|
|
|
|
There is a fixed and floating charge, and a negative pledge registered at Companies House over all assets and undertakings of the company.
9.
Reserves
| Fair Value Reserve | |
|---|---|
| £ | |
| Movements in fair value reserve | 204,849 |
| As at
|
|
AL002 Limited
Notes to the Financial Statements (continued)
For the Period
24 May 2022
to
31 May 2023
10.
Related Party Transactions
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.