Alliance Contracting Solutions Limited - Period Ending 2018-03-31

Registration number: 08968681

Alliance Contracting Solutions Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2018

Alliance Contracting Solutions Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Financial Statements	4 to 9

Alliance Contracting Solutions Limited

Company Information

Directors

L Mellors A C Wood

Registered office

Lowmoor Business Park Kirkby In Ashfield Nottinghamshire NG17 7JZ

Accountants

Ashgates Corporate Services Limited 5 Prospect Place Millennium Way Pride Park Derby DE24 8HG

Page 1

Alliance Contracting Solutions Limited

(Registration number: 08968681)
Balance Sheet as at 31 March 2018

	Note	2018 £	2017 £
Fixed assets
Tangible assets	4	49,724	60,623
Current assets
Stocks	5	12,407	12,407
Debtors	6	730,320	713,518
Cash at bank and in hand		302,456	112,719
		1,045,183	838,644
Creditors: Amounts falling due within one year	7	(837,775)	(756,385)
Net current assets		207,408	82,259
Total assets less current liabilities		257,132	142,882
Provisions for liabilities		(8,691)	(2,626)
Net assets		248,441	140,256
Capital and reserves
Called up share capital	8	100	100
Profit and loss account		248,341	140,156
Total equity		248,441	140,256

For the financial year ending 31 March 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

The notes on pages 4 to 9 form an integral part of these financial statements.

Page 2

Alliance Contracting Solutions Limited

(Registration number: 08968681)
Balance Sheet as at 31 March 2018

Approved and authorised by the Board on 17 December 2018 and signed on its behalf by:
 

.........................................

L Mellors

Director

.........................................

A C Wood

Director

The notes on pages 4 to 9 form an integral part of these financial statements.

Page 3

Alliance Contracting Solutions Limited

Notes to the Financial Statements for the Year Ended 31 March 2018

1	General information

The company is a private company limited by share capital incorporated in United Kingdom.

The address of the registered office is given in the company information on page 1 of the financial statements.

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 all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

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 statements are presented in Sterling (£) and rounded to the nearest £1.

Going concern

The financial statements have been prepared on a going concern basis.

Page 4

Alliance Contracting Solutions Limited

Notes to the Financial Statements for the Year Ended 31 March 2018

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 amounts 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 considered to be relevant. Actual results may differ from these estimates.

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

The estimates and assumptions which have risk of causing material adjustment to the carrying amount of assets and liabilities are set out below:

Revenue recognition and amounts recoverable on contracts:
Judgement is required to identify when it is appropriate to recognise revenue on contracts. Management estimate this based on their knowledge of the contract at the balance sheet date and also take previous experience into account.

Impairment of debtors:
On a periodic basis management makes an estimation of the recoverability of debtors. Management make such estimations based on the ageing profile, and historical experience.

Revenue recognition

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

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 specific criteria have been met for each of the company's activities.

Long term contracts

Profit on long-term contracts is taken as the work is carried out if the final outcome can be assessed with reasonable certainty. The profit included is calculated on a prudent basis to reflect the proportion of work carried out at the year end, by recording turnover and related cost as contract activity progresses. Turnover is calculated as that proportion of total contract value which costs incurred to date bear to total expected costs for that contract. Revenues derived from variations on contracts are recognised only when they have been accepted by the customer. Full provision is made for losses on all contracts in the year in which they are first foreseen.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Page 5

Alliance Contracting Solutions Limited

Notes to the Financial Statements for the Year Ended 31 March 2018

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the Company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the statement of financial position 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
Plant and machinery	25% reducing balance basis
Furniture, fittings and equipment	25%/33% reducing balance basis

Stock

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) 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.

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.

Review engagement report
These accounts have been prepared from the company's full annual financial statements which have been subject to a review engagement complying with International Standard on Review Engagements 2400 (Revised).

Page 6

Alliance Contracting Solutions Limited

Notes to the Financial Statements for the Year Ended 31 March 2018

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 43 (2017 - 40).

4	Tangible assets

	Furniture, fittings and equipment  £	Plant and machinery  £	Total £
Cost or valuation
At 1 April 2017	5,520	71,243	76,763
Additions	195	4,400	4,595
At 31 March 2018	5,715	75,643	81,358
Depreciation
At 1 April 2017	927	15,213	16,140
Charge for the year	1,250	14,244	15,494
At 31 March 2018	2,177	29,457	31,634
Carrying amount
At 31 March 2018	3,538	46,186	49,724
At 31 March 2017	4,593	56,030	60,623

5

Stocks

	2018 £	2017 £
Stock	12,407	12,407

Page 7

Alliance Contracting Solutions Limited

Notes to the Financial Statements for the Year Ended 31 March 2018

6

Debtors

	2018 £	2017 £
Trade debtors	730,320	710,749
Other debtors	-	2,769
	730,320	713,518

7

Creditors

	2018 £	2017 £
Due within one year
Trade creditors	176,577	138,118
Amounts owed to group undertakings	424,801	333,715
Taxation and social security	202,528	226,787
Other creditors	33,869	57,765
	837,775	756,385

8	Share capital

Allotted, called up and fully paid shares

	2018		2017
	No.	£	No.	£
Ordinary shares of £1 each	90	90	90	90
Ordinary A shares of £1 each	6	6	6	6
Ordinary B shares of £1 each	4	4	4	4
	100	100	100	100

9	Related party transactions

Transactions with directors
At the balance sheet date the amounts owed to the directors amounted to £26,875 (2017 - £nil)

Transactions with shareholders
At the balance sheet date the amounts owed to the shareholders amounted to £184 (2017 - £nil)

Summary of transactions with parent company
At the balance sheet date the amount due to the parent company was £84,724 (2017 - £168,067).

Summary of transactions with fellow subsidiaries
At the balance sheet date the amount due to fellow subsidiaries was £340,076 (2017 - £165,648).

Page 8

Alliance Contracting Solutions Limited

Notes to the Financial Statements for the Year Ended 31 March 2018

10	Parent and ultimate parent undertaking

The company's immediate parent is Alliance Group Solutions Limited, incorporated in England.
There is no ultimate controlling party due to the split of share holdings.

 
Relationship between entity and parent
The parent of the smallest and largest group in which these financial statements are consolidated is Alliance Group Solutions Limited, incorporated in England.

The address of Alliance Group Solutions Limited is:
Lowmoor Business Park, Kirkby in Ashfield, Nottinghamshire, NG17 7JZ.

These financial statements are available on request from Companies House, Crown Way, Maindy, Cardiff, CF14 3UZ.

11	Non adjusting events after the financial period

Following the balance sheet date dividends of £29,248 have been voted and paid.

Page 9