Alterna Limited 30/09/2017 iXBRL

Alterna Limited 30/09/2017 iXBRL

ALTERNA LIMITED - Company Information

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Company registration number: 09145674
Alterna Limited
Unaudited filleted financial statements
30 September 2017
Alterna Limited
Contents
Directors and other information
Statement of financial position
Statement of changes in equity
Notes to the financial statements
Alterna Limited
Directors and other information
Director Mr Alvaro Odeh Torro
Company number 09145674
Registered office First Floor, 155
Regents Park Road
London
England
NW1 8BB
Business address G4 85-87 Bayham Street
London
England
NW1 0AG
Accountants Solvers Accountants
Solvers House
941 Uxbridge Road
Uxbridge
UB10 0NJ
Alterna Limited
Statement of financial position
30 September 2017
2017 2016
Note £ £ £ £
Current assets
Debtors 187,129 191,015
Cash at bank and in hand 13,211 2,854
_______ _______
200,340 193,869
Creditors: amounts falling due
within one year ( 123,599) ( 128,647)
_______ _______
Net current assets 76,741 65,222
_______ _______
Total assets less current liabilities 76,741 65,222
_______ _______
Net assets 76,741 65,222
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 76,641 65,122
_______ _______
Shareholders funds 76,741 65,222
_______ _______
For the year ending 30 September 2017 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 09 May 2018 , and are signed on behalf of the board by:
Mr Alvaro Odeh Torro
Director
Company registration number: 09145674
Alterna Limited
Statement of changes in equity
Year ended 30 September 2017
Called up share capital Profit and loss account Total
£ £ £
At 1 October 2015 100 44,983 45,083
Profit for the year 20,139 20,139
_______ _______ _______
Total comprehensive income for the year - 20,139 20,139
_______ _______ _______
At 30 September 2016 and 1 October 2016 100 65,122 65,222
Profit for the year 11,519 11,519
_______ _______ _______
Total comprehensive income for the year - 11,519 11,519
_______ _______ _______
At 30 September 2017 100 76,641 76,741
_______ _______ _______
Alterna Limited
Notes to the financial statements
Year ended 30 September 2017
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Alterna Limited, First Floor, 155, Regents Park Road, London, England, NW1 8BB.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
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.
Transition to FRS 102
The entity transitioned from previous UK GAAP to FRS 102 as at 1 October 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 6.
Turnover
Turnover represents the amount derived from provision of services which fall within the company's principal activity, stated net of value added tax. Turnover from rendering of services is recognised when services are rendered, no matter when cash is received.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
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.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Staff costs
The average number of persons employed by the company during the year amounted to 1 (2016: 1 ).
5. Directors advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2017
Balance brought forward Advances /(credits) to the director Balance o/standing
£ £ £
Mr Alvaro Odeh Torro ( 20,910) 1,500 ( 19,410)
_______ _______ _______
2016
Balance brought forward Advances /(credits) to the director Balance o/standing
£ £ £
Mr Alvaro Odeh Torro ( 14,410) ( 6,500) ( 20,910)
_______ _______ _______
6. Transition to FRS 102
These are the first financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 October 2015.
Reconciliation of equity
No transitional adjustments were required.
Reconciliation of profit or loss for the year
No transitional adjustments were required.