Alert Data Limited - Period Ending 2023-04-30

Alert Data Limited

Contents

Balance Sheet	1
Notes to the Financial Statements	2 to 7

Alert Data Limited

(Registration number: 11184834)
Balance Sheet as at 30 April 2023

	Note	2023 £	2022 £
Fixed assets
Tangible assets	4	43,948	42,235
Current assets
Debtors	5	258,662	184,611
Cash at bank and in hand		34,168	7,880
		292,830	192,491
Creditors: Amounts falling due within one year	6	(356,844)	(231,888)
Net current liabilities		(64,014)	(39,397)
Total assets less current liabilities		(20,066)	2,838
Provisions for liabilities		(3,610)	(10,559)
Net liabilities		(23,676)	(7,721)
Capital and reserves
Called up share capital		980	980
Retained earnings		(24,656)	(8,701)
Shareholders' deficit		(23,676)	(7,721)

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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 15 January 2024 and signed on its behalf by:
 

P J Brake Director

M C Nickels Director

Alert Data Limited

Notes to the Financial Statements for the Year Ended 30 April 2023

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Alert House
One Willowside Park
Canal Road
Trowbridge
Wiltshire
BA14 8RH

These financial statements were authorised for issue by the Board on 15 January 2024.

2	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 the period presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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 annual statements are prepared in sterling which in the function currency of the company. Monetary amounts in the financial statements are rounded to the nearest £.

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the forseeable future. The directors have been mindful of any potential future impacts from of Brexit, the current high inflation, and the current situation in Ukraine. Furthermore, the directors have reviewed budgets and projections for the next twelve months. From this review, the directors consider that the company is unlikely to be significantly affected and thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

The company made a loss in the year ended 30 April 2023 of £15,955 (2022 - profit of £8,373) and has net current liabilities of £64,014 (2022 - £39,937). Net liabilities arise due to intercompany loan relationships and at the year ended 30 April 2023 this amounted to £305,788 (2022 - £217,668). Taking this into consideration the directors have reviewed the supply chains, key customers and the capital resources available and alongside continued support of the parent company, AlertSystems Group Limited, consider that the company has adequate resources in place to continue trading for the next twelve months.

Alert Data Limited

Notes to the Financial Statements for the Year Ended 30 April 2023

Audit report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 17 January 2024 was Ian Lloyd, who signed for and on behalf of Milsted Langdon LLP.

Key sources of estimation uncertainty

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount 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 that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises the revenue for application hosting contracts over the term of the contract. Expenditure, including the set up costs are also expended to the profit and loss account over the contract term.

The company recognises revenue when:
- the amount of revenue can be reliably measured;
- it is probable that future economic benefits will flow to the entity; and
- and specific criteria have been met for each of the company's activities.

Finance income and costs policy

Interest income and expenses are recognised using the effective interest rate method.

Tax

The tax expense represents the sum of the tax currently payable and deferred tax. Tax is recognised in the profit or loss except that a charge attributable to an item of income or expense recognised as other comprehensive income is recognised in other comprehensive income.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

Deferred tax is provided at appropriate rates on all timing differences only to the extent that, in the opinion of the directors, there is a reasonable probability that a liability of asset will crystallise in the foreseeable future. Deferred tax is recovered using tax rates expected to apply at the reversal of the timing difference.

Deferred and current taxation assets or liabilities are not discounted.

Alert Data Limited

Notes to the Financial Statements for the Year Ended 30 April 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

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:

Asset class	Depreciation method and rate
Leasehold improvements	20% straight line
Furniture, fittings and equipment	25-33% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Alert Data Limited

Notes to the Financial Statements for the Year Ended 30 April 2023

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company 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.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year was 5 (2022 - 5).

4	Tangible assets

	Leasehold improvements £	Furniture, fittings and equipment £	Total £
Cost or valuation
At 1 May 2022	1,999	98,419	100,418
Additions	4,690	21,754	26,444
At 30 April 2023	6,689	120,173	126,862
Depreciation
At 1 May 2022	1,671	56,512	58,183
Charge for the year	796	23,935	24,731
At 30 April 2023	2,467	80,447	82,914
Carrying amount
At 30 April 2023	4,222	39,726	43,948
At 30 April 2022	328	41,907	42,235

5

Debtors

	Note	2023 £	2022 £
Trade debtors		34,329	2,350
Amounts owed by related parties	7	197,070	160,231
Other debtors		50	113
Prepayments		27,196	17,717
Accrued income		17	4,200
		258,662	184,611

Alert Data Limited

Notes to the Financial Statements for the Year Ended 30 April 2023

Amounts owed by related parties are unsecured, interest free, have no fixed date of repayment and are repayable on demand.

6

Creditors

	Note	2023 £	2022 £
Due within one year
Trade creditors		15,029	6,774
Amounts owed to related parties	7	305,788	217,668
Accruals and deferred income		36,027	7,446
		356,844	231,888

Amounts owed to related parties were charged interest at 5% per annum to 31 July 2021, with no interest being charged from this date onwards. The amounts owed have no fixed date of repayments and are repayable on demand.

7	Related party transactions

Summary of transactions with other related parties

Other related parties include companies under common control.
 

Income and receivables from related parties

2023	Parent £	Other related parties £
Provision of services	-	107,169
Amounts owed by related parties	750	196,320

2022	Parent £	Other related parties £
Provision of services	-	106,720
Amounts owed by related parties	750	159,481

Amounts owed by related parties include £Nil (2022 - £Nil) included in trade debtors.

Expenditure with and payables to related parties

2023	Other related parties £
Rendering of services	158,450
Amounts owed to related parties	305,788

Alert Data Limited

Notes to the Financial Statements for the Year Ended 30 April 2023

2022	Other related parties £
Rendering of services	110,009
Amounts owed to related parties	217,668

8	Parent and ultimate parent undertaking

The immediate and ultimate parent is AlertSystems Group Limited, incorporated in England and Wales.

 The most senior parent entity producing publicly available consolidated financial statements is AlertSystems Group Limited. These financial statements are available upon request from Alert House, One Willowside Park, Canal Road, Trowbridge, Wiltshire, BA14 8RH.

 The ultimate controlling parties are P J Brake and M C Nickels by virtue of their equity shareholding in the ultimate parent company.