Accounts filed on 31-03-2015

Accounts filed on 31-03-2015

ALT FINANCE LTD - Company Information

Print Friendly Version

ALT FINANCE LTD

Company Registration Number:
08698950 (England and Wales)

Abbreviated (Unaudited) Accounts

Period of accounts

Start date: 01 April 2014

End date: 31 March 2015

ALT FINANCE LTD

Abbreviated Balance sheet

As at 31 March 2015


Notes
2015
£		 6 months to
31 Mar 2014
£
Fixed assets
Total fixed assets: 0 0
Current assets
Debtors: 2 649,141 353
Cash at bank and in hand: 229,172
Total current assets: 878,313 353
Creditors: amounts falling due within one year: 3 ( 843,552 ) ( 1,683 )
Net current assets (liabilities): 34,761 ( 1,330 )
Total assets less current liabilities: 34,761 ( 1,330 )
Total net assets (liabilities): 34,761 ( 1,330 )

The notes form part of these financial statements

ALT FINANCE LTD

Balance sheet continued

As at 31 March 2015


Notes
2015
£		 6 months to
31 Mar 2014
£
Capital and reserves
Called up share capital: 4 10 10
Profit and loss account: 34,751 ( 1,340 )
Shareholders funds: 34,761 ( 1,330 )

For the year ending 31 March 2015 the company was entitled to exemption 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 in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

The financial statements were approved by the Board of Directors on 30 December 2015

SIGNED ON BEHALF OF THE BOARD BY:

Name: John Steers
Status: Director

The notes form part of these financial statements

ALT FINANCE LTD

Notes to the Abbreviated Accounts

for the Period Ended 31 March 2015

  • 1. Accounting policies

    Basis of measurement and preparation of accounts

    The financial statements have been prepared under the historical cost convention, and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

    Turnover policy

    The turnover shown in the profit and loss account is derived from the company's principal activities and mainly comprises discount earned on invoiced discounted by companies and interest earned on the provision of loans to companies.

    Tangible fixed assets depreciation policy

    Tangible fixed assets are stated at cost less depreciation. Depreciation is provided, after taking into account of any grants receivable, at the following rates in order to write off each asset costing more than GBP 1,000 over its estimated useful life:
    - Plant and machinery 25%.
    Tangible fixed assets costing less than GBP 1,000 are depreciated fully in year of acquisition.

    Valuation information and policy

    Debtors are valued at the principal amount that is contractually payable to the company less any provision for bad and doubtful debts. Bad debts written off and the change in the provision for bad and doubtful debts are expensed to the profit and loss account in the period.

ALT FINANCE LTD

Notes to the Abbreviated Accounts

for the Period Ended 31 March 2015

  • 2. Debtors

    The trade debtors balance is stated after deducting the provision for bad and doubtful debts. The other debtors balance comprises deferred expenses.

ALT FINANCE LTD

Notes to the Abbreviated Accounts

for the Period Ended 31 March 2015

  • 3. Creditors: amounts falling due within one year


    2015
    £    		 6 months to
    31 Mar 2014
    £
    Taxation and social security: 8,687 0
    Accruals and deferred income: 620 336
    Other creditors: 834,245 1,347
    Total: 843,552 1,683

    The other creditors balance comprises amounts payable to the director.

ALT FINANCE LTD

Notes to the Abbreviated Accounts

for the Period Ended 31 March 2015

  • 4. Called up share capital

    Allotted, called up and paid

    Previous period 6 months to
    31 Mar 2014
    Class Number of shares Nominal value per share (£) Total (£)
    Ordinary shares: 10 1.00 10
    Preference shares: 0
    Total share capital (£): 10
    Current period
    2015
    Class Number of shares Nominal value per share (£) Total (£)
    Ordinary shares: 10 1.00 10
    Preference shares: 0
    Total share capital (£): 10

    During the period to 31 March 2014, 10 ordinary shares were issued, allotted and fully paid for in cash at par.

ALT FINANCE LTD

Notes to the Abbreviated Accounts

for the Period Ended 31 March 2015

  • 5. Transactions with directors

    On 5 April 2014 the company acquired a portfolio of third party invoice receivables from the director. This was financed by a loan from the director. During the year the director increased the loan to the company.