Company No: 03834616 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

DIRECTOR

Mr F J Read

REGISTERED OFFICE	Centenary House Peninsula Park
	Rydon Lane
	Exeter
	EX2 7XE
	United Kingdom

BUSINESS ADDRESS

Unit 13 Hameldown Road, Exeter Rd Industrial Estate, Okehampton, EX20 1UB

COMPANY NUMBER

03834616 (England and Wales)

CHARTERED ACCOUNTANTS	Francis Clark LLP
	Centenary House
	Peninsula Park
	Rydon Lane
	Exeter
	Devon EX2 7XE

	Note	2022		2021
		£		£
Fixed assets
Tangible assets	3	18,136		23,324
		18,136		23,324
Current assets
Stocks		68,655		77,437
Debtors	4	151,442		112,285
Cash at bank and in hand		80,447		76,441
		300,544		266,163
Creditors
Amounts falling due within one year	5	( 93,368)		( 81,270)
Net current assets		207,176		184,893
Total assets less current liabilities		225,312		208,217
Provision for liabilities	6	( 4,531)		( 5,830)
Net assets		220,781		202,387
Capital and reserves
Called-up share capital	7	2		2
Profit and loss account		220,779		202,385
Total shareholder's funds		220,781		202,387

For the financial year ending 31 May 2022 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

• The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Alro Services Ltd (registered number: 03834616) were approved and authorised for issue by the Director on 21 December 2022. They were signed on its behalf by:

Mr F J Read Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Alro Services Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Centenary House Peninsula Park, Exeter, United Kingdom.

The Principal place of business is Unit 13 Hameldown Road, Exeter Rd Industrial Estate, Okehampton, EX20 1UB

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. There are no material departures from FRS102.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.
Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.
Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable.
Where a contract has only been partially completed at the Balance sheet date turnover represents the fair value of the service provided to based on the stage of completion of the contract activity at the Balance Sheet date.
Where payments are received from customers in advance of services provided, the amounts are recorded as deferred income and included as part of creditors due within one year.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery	10 % reducing balance
Vehicles	25 % reducing balance
Fixtures and fittings	10 % reducing balance
Office equipment	10 % reducing balance
Computer equipment	4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised.

During the year Government grants were received in relation to the Coronavirus Job Retention Scheme. The grants received in the year totalled £Nil (2021: £976).

Recognition and measurement

The company as chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all risk and rewards of ownership are transferred to another party, or in the case of liabilities when the company's obligations are discharged, expire or are cancelled.

Such instruments are initially measured at transaction price, including traction cost, and are subsequently carried at the undiscounted amount of cash or other consideration expected to be paid or received, after taking account of impairment adjustment.

Long term creditors are initially measured at transaction price, including transaction cost, and are subsequently carried at amortised cost using the effective interest method.

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 period.

Contribution 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.

2. Employees

	2022		2021
	Number		Number
Monthly average number of persons employed by the Company during the year, including the director	7		6

3. Tangible assets

	Plant and machinery		Vehicles		Fixtures and fittings		Office equipment		Computer equipment		Total
	£		£		£		£		£		£
Cost
At 01 June 2021	5,314		103,547		9,771		10,801		13,979		143,412
Additions	0		0		0		0		84		84
Disposals	( 1,314)		( 19,412)		( 1,942)		( 1,440)		( 5,644)		( 29,752)
At 31 May 2022	4,000		84,135		7,829		9,361		8,419		113,744
Accumulated depreciation
At 01 June 2021	3,993		88,093		6,883		7,354		13,765		120,088
Charge for the financial year	113		3,864		261		327		14		4,579
Disposals	( 1,122)		( 19,412)		( 1,660)		( 1,221)		( 5,644)		( 29,059)
At 31 May 2022	2,984		72,545		5,484		6,460		8,135		95,608
Net book value
At 31 May 2022	1,016		11,590		2,345		2,901		284		18,136
At 31 May 2021	1,321		15,454		2,888		3,447		214		23,324

4. Debtors

	2022		2021
	£		£
Trade debtors	124,989		99,996
Amounts owed by Group undertakings	22,000		0
Corporation tax	0		8,116
Other debtors	4,453		4,173
	151,442		112,285

5. Creditors: amounts falling due within one year

	2022		2021
	£		£
Trade creditors	26,304		39,596
Amounts owed to director	0		993
Accruals	9,544		23,773
Corporation tax	14,500		0
Other taxation and social security	38,183		14,784
Obligations under finance leases and hire purchase contracts (secured)	0		954
Other creditors	4,837		1,170
	93,368		81,270

During the year £Nil (2021 £954) amounts under finance leases were secured over the asset concerned.

6. Provision for liabilities

	2022		2021
	£		£
Deferred tax	4,531		5,830

7. Called-up share capital

	2022		2021
	£		£
Allotted, called-up and fully-paid
2 Ordinary share capital shares of £ 1.00 each	2		2

8. Related party transactions

Other related party transactions

	2022		2021
	£		£
Loan to Finn Environmental Holdings Ltd - 100% Shareholder	22,000		0

The loan is repayable on demand and no interest has been charged on the loan to Finn Environmental Holdings Ltd.

9. Ultimate controlling party

Parent Company:

Finn Environmental Holdings Limited

Centenary House Peninsula Park Rydon Lane Exeter EX2 7XE England

Finn Environmental Holdings Limited is a 100% shareholder in the Company.

Mr F J Read, the sole director of the company, is a 100% shareholder in Finn Environmental Holdings Limited.