Aleo Plating Limited
Aleo Plating Limited
Registered number: 03272810
Unaudited Financial Statements
For The Year Ended 31 October 2023
Aleo Plating Limited
Unaudited Financial Statements
For The Year Ended 31 October 2023
Unaudited Financial Statements
Contents | |
Page | |
---|---|
Balance Sheet | 1—2 |
Notes to the Financial Statements | 3—5 |
Aleo Plating Limited
Balance Sheet
As At
31 October 2023
Balance Sheet
Registered number:
03272810
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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.
2023 | 2022 | ||||
---|---|---|---|---|---|
Notes | £ | £ | £ | £ | |
FIXED ASSETS | |||||
Tangible Assets | 4 |
|
|
||
|
|
||||
CURRENT ASSETS | |||||
Stocks | 5 |
|
|
||
Debtors | 6 |
|
|
||
Cash at bank and in hand |
|
|
|||
|
|
||||
Creditors: Amounts Falling Due Within One Year | 7 |
( |
( |
||
NET CURRENT ASSETS (LIABILITIES) |
|
|
|||
TOTAL ASSETS LESS CURRENT LIABILITIES |
|
|
|||
Creditors: Amounts Falling Due After More Than One Year | 8 |
( |
( |
||
PROVISIONS FOR LIABILITIES | |||||
Deferred Taxation |
( |
( |
|||
NET ASSETS |
|
|
|||
CAPITAL AND RESERVES | |||||
Called up share capital | 10 |
|
|
||
Profit and Loss Account |
|
|
|||
SHAREHOLDERS' FUNDS | 114,045 | 113,819 | |||
Aleo Plating Limited
Balance Sheet (continued)
As At
31 October 2023
On behalf of the board
Director
|
|
The notes on pages 3 to 5 form part of these financial statements.
Aleo Plating Limited
Notes to the Financial Statements
For The Year Ended 31 October 2023
Notes to the Financial Statements
1.
General Information
Aleo Plating Limited
is a private company, limited by shares, incorporated in England & Wales, registered number
03272810
. The registered office is Hanover Buildings, 11-13 Hanover Street, Liverpool, Merseyside, L1 3DN.
2.
Accounting Policies
2.1.
Basis of Preparation of Financial Statements
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
2.2.
Going Concern Disclosure
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
2.3.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
2.4.
Tangible Fixed Assets and Depreciation
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant and machinery |
|
Motor vehicles |
|
Fixtures and fittings |
|
Equipment |
|
2.5.
Leasing and Hire Purchase Contracts
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.6.
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.
2.7.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Aleo Plating Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 October 2023
3.
Average Number of Employees
Average number of employees, including directors, during the year was: 10 (2022: 11)
4.
Tangible Assets
Plant and machinery | Motor vehicles | Fixtures and fittings | Equipment | Total | |
---|---|---|---|---|---|
£ | £ | £ | £ | £ | |
Cost | |||||
As at 1 November 2022 |
|
|
|
|
|
Additions |
|
|
|
|
|
As at 31 October 2023 |
|
|
|
|
|
Depreciation | |||||
As at 1 November 2022 |
|
|
|
|
|
Provided during the period |
|
|
|
|
|
As at 31 October 2023 |
|
|
|
|
|
Net Book Value | |||||
As at 31 October 2023 |
|
|
|
|
|
As at 1 November 2022 |
|
|
|
|
|
5.
Stocks
2023 | 2022 | ||
---|---|---|---|
£ | £ | ||
Stock |
|
|
|
6.
Debtors
2023 | 2022 | ||
---|---|---|---|
£ | £ | ||
Due within one year | |||
Trade debtors |
|
|
|
Prepayments and accrued income |
|
|
|
Corporation tax recoverable assets | - |
|
|
|
|
||
7.
Creditors: Amounts Falling Due Within One Year
2023 | 2022 | ||
---|---|---|---|
£ | £ | ||
Net obligations under finance lease and hire purchase contracts |
|
|
|
Trade creditors |
|
|
|
Bank loans and overdrafts |
|
|
|
Corporation tax |
|
|
|
Other taxes and social security |
|
|
|
VAT |
|
|
|
Other creditors |
|
|
|
Accruals and deferred income |
|
|
|
Director's loan account |
|
|
|
|
|
||
Aleo Plating Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 October 2023
8.
Creditors: Amounts Falling Due After More Than One Year
2023 | 2022 | ||
---|---|---|---|
£ | £ | ||
Net obligations under finance lease and hire purchase contracts |
|
|
|
Bank loans |
|
|
|
|
|
||
The loan above was obtained under the government bounceback loan scheme and is therefore 100% secured by the government with no charge over the assets of the company.
9.
Obligations Under Finance Leases and Hire Purchase
2023 | 2022 | ||
---|---|---|---|
£ | £ | ||
The future minimum finance lease payments are as follows: | |||
Not later than one year |
|
|
|
Later than one year and not later than five years |
|
|
|
|
|
||
|
|
||
11.
Directors Advances, Credits and Guarantees
No director received advances, credits or guarantees during the current or previous accounting periods.
12.
Related Party Transactions
The following related party transactions were undertaken during the year:
There were no transactions with the director during the year. At the balance sheet date the amount payable was £75,050 (2022: £75,050).
Dividends were paid to the directors in respect of their shareholdings totalling £2,000 (2022: £2,000).
No further transactions with related parties were undertaken, other than those under normal market conditions, such as are required to be disclosed in accordance with FR102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.