REGISTERED NUMBER:
|
|
|
|
|
|
FINANCIAL STATEMENTS FOR THE PERIOD 1 APRIL 2020 TO 31 DECEMBER 2020 |
|
FOR |
|
ALVEST EQUIPMENT SERVICES (UK) LIMITED |
REGISTERED NUMBER:
|
|
|
|
|
|
FINANCIAL STATEMENTS FOR THE PERIOD 1 APRIL 2020 TO 31 DECEMBER 2020 |
|
FOR |
|
ALVEST EQUIPMENT SERVICES (UK) LIMITED |
ALVEST EQUIPMENT SERVICES (UK) LIMITED (REGISTERED NUMBER: 12542868) |
|
|
|
|
|
|
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Period 1 April 2020 to 31 December 2020 |
|
|
|
|
Page |
|
Company Information | 1 |
|
Balance Sheet | 2 |
|
Notes to the Financial Statements | 3 |
|
ALVEST EQUIPMENT SERVICES (UK) LIMITED |
|
COMPANY INFORMATION |
for the Period 1 April 2020 to 31 December 2020 |
|
|
|
|
|
|
|
DIRECTORS: |
|
|
|
|
|
|
|
REGISTERED OFFICE: |
|
|
|
|
|
|
|
|
|
|
REGISTERED NUMBER: |
|
|
|
|
|
|
AUDITORS: |
|
Chartered Accountants |
& Statutory Auditors |
ECL House |
Lake Street |
Leighton Buzzard |
Bedfordshire |
LU7 1RT |
ALVEST EQUIPMENT SERVICES (UK) LIMITED (REGISTERED NUMBER: 12542868) |
|
BALANCE SHEET |
31 December 2020 |
|
Notes | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
|
Tangible assets | 5 |
|
|
|
CURRENT ASSETS |
Stocks |
|
Debtors | 6 |
|
Cash at bank and in hand |
|
|
CREDITORS |
Amounts falling due within one year | 7 |
|
NET CURRENT LIABILITIES | ( |
) |
TOTAL ASSETS LESS CURRENT
LIABILITIES |
( |
) |
|
CAPITAL AND RESERVES |
Called up share capital | 8 |
|
Retained earnings | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) |
|
|
|
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
|
The financial statements were approved by the Board of Directors and authorised for issue on
|
|
|
|
|
|
|
|
ALVEST EQUIPMENT SERVICES (UK) LIMITED (REGISTERED NUMBER: 12542868) |
|
NOTES TO THE FINANCIAL STATEMENTS |
for the Period 1 April 2020 to 31 December 2020 |
|
1. | STATUTORY INFORMATION |
|
Alvest Equipment Services (UK) Limited is a
|
|
2. | ACCOUNTING POLICIES |
|
Basis of preparing the financial statements |
|
|
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
|
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer, the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably. |
|
Revenue from maintenance contracts is recognised on a straight line basis over the period of the maintenance contract. |
|
Revenue from short term rentals is recognised on a straight line basis over the term of the rental period. |
|
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
|
|
|
Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Plant and machinery 14.29 % on cost |
Motor vehicles 20.00 % 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 the Income Statement. |
|
Government grants |
Government grants are recognised in the Income Statement so as to match them with the expenditure towards which they are intended to contribute. |
|
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
|
Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
|
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
|
ALVEST EQUIPMENT SERVICES (UK) LIMITED (REGISTERED NUMBER: 12542868) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Period 1 April 2020 to 31 December 2020 |
|
2. | ACCOUNTING POLICIES - continued |
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 period 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. |
|
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
|
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
|
|
These financial statements cover the first period of trading and show a loss for the financial period ended 31 December 2020 of £198,516 and a balance sheet deficiency at that date of £198,416. The financial statements have been prepared on a going concern basis which the directors consider to be appropriate as there will be continuing financial support from Alvest Equipment Services S.A.S, the company's French parent company, for the period of at least 12 months from the date of approval of these financial statements and the liquidity risk will be managed as the majority of payables relate to transactions with fellow group companies. |
|
3. | EMPLOYEES AND DIRECTORS |
|
The average number of employees during the period was
|
|
4. | INTANGIBLE FIXED ASSETS |
Other |
intangible |
assets |
£ |
COST |
Additions |
|
At 31 December 2020 |
|
NET BOOK VALUE |
At 31 December 2020 |
|
ALVEST EQUIPMENT SERVICES (UK) LIMITED (REGISTERED NUMBER: 12542868) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Period 1 April 2020 to 31 December 2020 |
|
5. | TANGIBLE FIXED ASSETS |
Plant and | Motor |
machinery | vehicles | Totals |
£ | £ | £ |
COST |
Additions |
|
|
|
Disposals | ( |
) |
|
( |
) |
At 31 December 2020 |
|
|
|
DEPRECIATION |
Charge for period |
|
|
|
Eliminated on disposal | ( |
) |
|
( |
) |
At 31 December 2020 |
|
|
|
NET BOOK VALUE |
At 31 December 2020 |
|
|
|
|
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Trade debtors |
|
Other debtors |
|
|
|
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
£ |
Trade creditors |
|
Amounts owed to group undertakings |
|
Other creditors |
|
|
|
8. | CALLED UP SHARE CAPITAL |
|
|
Allotted, issued and fully paid: |
Number: | Class: | Nominal |
value: | £ |
|
Ordinary | £1 | 100 |
|
100 Ordinary shares of £1 each were allotted and fully paid for
|
ALVEST EQUIPMENT SERVICES (UK) LIMITED (REGISTERED NUMBER: 12542868) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Period 1 April 2020 to 31 December 2020 |
|
9. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
|
The Report of the Auditors was qualified on the following basis: |
|
Basis for qualified opinion |
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. |
With respect to the closing stock of £218,240, the audit evidence available to us was limited. We were appointed as auditors during 2021 and did not attend the physical stock count at 31 December 2020. As a consequence of this, we have been unable to satisfy ourselves as to the completeness or existence of stock as shown in the financial statements at 31 December 2020. With the exception of this limitation in scope, we believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. |
|
|
for and on behalf of
|
|
10. | POST BALANCE SHEET EVENTS |
|
The effects of the Covid-19 pandemic have continued after the period end and the company has continued to rely on the support of its parent company. |
|
11. | ULTIMATE CONTROLLING PARTY |
|
Alvest Equipment Services S.A.S is the immediate parent company and Alvest Holding S.A.S is the ultimate controlling party. Both companies are incorporated in France and have their registered office at 100 Boulevard du Montparnasse, 75014 Paris, France. |