Company Registration No. 03219024 (England and Wales)
ALLIANCE SYSTEMS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MAY 2021
PAGES FOR FILING WITH REGISTRAR
30-31 St.James Place
Mangotsfield
Bristol
United Kingdom
BS16 9JB
ALLIANCE SYSTEMS LIMITED
CONTENTS
Page
Company information
1
Balance sheet
2 - 3
Statement of changes in equity
Notes to the financial statements
4 - 7
ALLIANCE SYSTEMS LIMITED
BALANCE SHEET
- 2 -
2021
2020
Notes
£
£
£
£
Fixed assets
Intangible assets
3
3,138
6,271
Tangible assets
4
599
1,228
3,737
7,499
Current assets
Debtors
5
28,241
40,100
Cash at bank and in hand
191,561
189,337
219,802
229,437
Creditors: amounts falling due within one year
6
(140,782)
(138,751)
Net current assets
79,020
90,686
Total assets less current liabilities
82,757
98,185
Provisions for liabilities
(114)
(233)
Net assets
82,643
97,952
Capital and reserves
Called up share capital
200
200
Profit and loss reserves
82,443
97,752
Total equity
82,643
97,952
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 May 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
ALLIANCE SYSTEMS LIMITED
BALANCE SHEET (CONTINUED)
- 3 -
The financial statements were approved by the board of directors and authorised for issue on 20 September 2021 and are signed on its behalf by:
Mr N Hutchinson
Mr D B Oxley
Director
Director
Company Registration No. 03219024
The notes on pages 4 to 7 form part of these financial statements
ALLIANCE SYSTEMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2021
- 4 -
1
Accounting policies
Company information
Alliance Systems Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
30-31 St James Place, Mangotsfield, Bristol, South Glos., England, BS16 9JB.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business
, and
is shown net of VAT and other sales related taxes
.
The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.3
Goodwill
Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated
amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is twenty years.
1.4
Intangible assets
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
1.5
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
20% on cost
Computers
25% on cost
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and
is credited or charged to profit or loss
.
1.6
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
ALLIANCE SYSTEMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2021
1
Accounting policies
(Continued)
- 5 -
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The
company’s
liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
1.7
Pension costs and other post-retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.8
Hire purchase and leasing commitments
Rentals payable under operating leases,
including
any lease incentives received, are charged to
profit or loss
on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease
s
asset are consumed.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2021
2020
Number
Number
Total
15
15
ALLIANCE SYSTEMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2021
- 6 -
3
Intangible fixed assets
Goodwill
£
Cost
At 1 June 2020 and 31 May 2021
62,650
Amortisation and impairment
At 1 June 2020
56,379
Amortisation charged for the year
3,133
At 31 May 2021
59,512
Carrying amount
At 31 May 2021
3,138
At 31 May 2020
6,271
4
Tangible fixed assets
Fixtures and fittings
Computers
Total
£
£
£
Cost
At 1 June 2020 and 31 May 2021
27,748
36,310
64,058
Depreciation and impairment
At 1 June 2020
27,576
35,254
62,830
Depreciation charged in the year
114
515
629
At 31 May 2021
27,690
35,769
63,459
Carrying amount
At 31 May 2021
58
541
599
At 31 May 2020
172
1,056
1,228
5
Debtors
2021
2020
Amounts falling due within one year:
£
£
Trade debtors
13,078
26,348
Other debtors
15,163
13,752
28,241
40,100
ALLIANCE SYSTEMS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2021
5
Debtors
(Continued)
- 7 -
6
Creditors: amounts falling due within one year
2021
2020
£
£
Bank loans and overdrafts
1,079
738
Trade creditors
22,249
22,014
Taxation and social security
53,860
79,728
Other creditors
63,594
36,271
140,782
138,751