Company Registration No. 10987877 (England and Wales)
Alphagrp Limited
Unaudited accounts
for the year ended 30 September 2022
Alphagrp Limited
Statement of financial position
as at 30 September 2022
Tangible assets
85,822
59,529
Cash at bank and in hand
(22,964)
(12,928)
Creditors: amounts falling due within one year
(265,031)
(394,362)
Net current liabilities
(158,486)
(50,075)
Total assets less current liabilities
(72,664)
9,454
Creditors: amounts falling due after more than one year
(551,573)
(333,966)
Net liabilities
(624,237)
(324,512)
Called up share capital
100
100
Profit and loss account
(624,337)
(324,612)
Shareholders' funds
(624,237)
(324,512)
For the year ending 30 September 2022 the company was entitled to exemption from audit 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 24 February 2023 and were signed on its behalf by
Alex Jones
Director
Company Registration No. 10987877
Alphagrp Limited
Notes to the Accounts
for the year ended 30 September 2022
Alphagrp Limited is a private company, limited by shares, registered in England and Wales, registration number 10987877. The registered office is THE WATER WORKS MOORS LANE, GREAT BENTLEY, COLCHESTER, ESSEX, CO7 8QL, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% Reducing Balance
Motor vehicles
25% Reducing Balance
Fixtures & fittings
25% 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.
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Alphagrp Limited
Notes to the Accounts
for the year ended 30 September 2022
Inventories have been valued 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.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the accounting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
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 Profit and Loss Account 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.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
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.
Dividend distribution to the company's shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
The Director has considered the consequences of COVID-19 and the liabilities of the company. These may cast significant doubt upon the entity's ability to continue as a going concern. The Director is confident that changes he has implemented will allow the company to continue as a going concern. The company accountants have expressed doubt as to whether this is achievable and advised the Director to seek specialist advice.
Alphagrp Limited
Notes to the Accounts
for the year ended 30 September 2022
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At 1 October 2021
29,582
57,623
11,383
98,588
Additions
8,317
61,204
5,809
75,330
Disposals
-
(45,878)
-
(45,878)
At 30 September 2022
37,899
72,949
17,192
128,040
At 1 October 2021
4,368
31,396
3,295
39,059
Charge for the year
8,383
16,750
3,474
28,607
On disposals
-
(25,448)
-
(25,448)
At 30 September 2022
12,751
22,698
6,769
42,218
At 30 September 2022
25,148
50,251
10,423
85,822
At 30 September 2021
25,214
26,227
8,088
59,529
Finished goods
9,000
16,000
Amounts falling due within one year
Trade debtors
85,534
309,133
Other debtors
34,975
31,117
7
Creditors: amounts falling due within one year
2022
2021
Bank loans and overdrafts
36,285
28,108
Obligations under finance leases and hire purchase contracts
24,215
22,516
Trade creditors
106,077
184,283
Taxes and social security
10,040
42,823
Other creditors
167,450
125,643
Loans from directors
(104,323)
(74,964)
Alphagrp Limited
Notes to the Accounts
for the year ended 30 September 2022
8
Creditors: amounts falling due after more than one year
2022
2021
Obligations under finance leases and hire purchase contracts
42,212
13,885
Taxes and social security
472,106
273,236
Allotted, called up and fully paid:
100 Ordinary Shares of £1 each of £1 each
100
100
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Interest free loans made to the Director
74,964
29,359
-
104,323
11
Average number of employees
During the year the average number of employees was 22 (2021: 24).