Registration number:
Alison Price and Company Limited
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Brebners
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Alison Price and Company Limited
Statement of Financial Position as at 31 March 2020
Note |
2020 |
2019 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets/(liabilities) |
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( |
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Total assets less current liabilities |
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Provisions for liabilities |
( |
- |
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Net assets |
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Capital and reserves |
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Called up share capital |
35,713 |
25,000 |
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Profit and loss account |
174,694 |
239,151 |
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Shareholders' funds |
210,407 |
264,151 |
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 and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Statement of Income and Retained Earnings has been taken.
Approved and authorised by the
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Company registration number: 02648340
Alison Price and Company Limited
Notes to the Financial Statements for the Year Ended 31 March 2020
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
The principal activity of the company is that of event catering services
Audit Report |
Accounting policies |
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 any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.
Going concern
The company made a loss for the year ended 30 March 2020 and had net assets at that date of £210,407.
The directors have considered the potential effect of the current COVID-19 pandemic and, although there is no certainty as to when this will end, the directors' view is that the impact will be manageable. The company has taken advantage of the government CJRS and other support during the period of the lockdown restrictions and took other measures to control overheads where possible.
The hospitality industry has suffered continuous closure periods since March 2020 and the impact on turnover for the company has been considerable, with no further events held since the restrictions were introduced. The directors are confident that business will improve and further events will take place as the restrictions are eased. The company also has the support of the parent undertaking if required.
On the basis of the above, and after making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the directors continue to adopt the going concern basis in preparing the financial statements.
Alison Price and Company Limited
Notes to the Financial Statements for the Year Ended 31 March 2020
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 sales/value added tax, returns, rebates and discounts.
The company recognises turnover on the date of completion of the event when the company becomes entitled to economic benefit.
Government grants
Grants are accounted for under the accruals model. Grants of a revenue nature are recognised in other income in the same period as related expenditure.
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a charge 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.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.
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 |
Leasehold improvements |
Over period of the lease (20 years) |
Plant and machinery |
25% reducing balance |
Furniture, fittings & equipment |
33% reducing balance |
Motor vehciles |
25% reducing balance |
Computer equipment |
15% reducing balance |
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.
Alison Price and Company Limited
Notes to the Financial Statements for the Year Ended 31 March 2020
Stocks
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.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Income Statement over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
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.
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.
Staff numbers |
The average number of persons employed by the company during the year, was
Alison Price and Company Limited
Notes to the Financial Statements for the Year Ended 31 March 2020
Tangible assets |
Leasehold improvements |
Furniture, fittings and equipment |
Motor vehicles |
Plant and machinery |
Total |
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Cost or valuation |
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At 1 April 2019 |
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Additions |
- |
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- |
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At 31 March 2020 |
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Depreciation |
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At 1 April 2019 |
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Charge for the year |
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At 31 March 2020 |
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Carrying amount |
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At 31 March 2020 |
- |
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At 31 March 2019 |
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Stocks |
2020 |
2019 |
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Stock |
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Debtors |
2020 |
2019 |
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Trade debtors |
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Amounts owed by group undertakings |
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- |
Other debtors |
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Alison Price and Company Limited
Notes to the Financial Statements for the Year Ended 31 March 2020
Creditors |
Creditors: amounts falling due within one year
2020 |
2019 |
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Bank loans and overdrafts |
- |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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Loans and borrowings |
2020 |
2019 |
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Current loans and borrowings |
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Bank borrowings |
- |
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Related party transactions |
Exemption has been taken under FRS 102 Paragraph 1AC.35 not to disclose transactions and amounts falling due with companies that are wholly owned within the group.
Relationship between entity and parents |
The parent of the smallest group preparing group accounts including the results of the company is headed by
The registered address of Eventist Group Limited is