Alliance Office Systems Limited 28/02/2021 iXBRL

Alliance Office Systems Limited 28/02/2021 iXBRL

ALLIANCE OFFICE SYSTEMS LIMITED - Company Information

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Company registration number: 2887711
Alliance Office Systems Limited
Unaudited filleted abridged financial statements
28 February 2021
Alliance Office Systems Limited
Contents
Directors and other information
Abridged statement of financial position
Statement of changes in equity
Notes to the financial statements
Alliance Office Systems Limited
Directors and other information
Directors M. Tyszyk
A. Brown
K. J. Tyszyk
Secretary M Tyszyk
Company number 2887711
Registered office Victoria Works
Holmfield Industrial Estate
Holmfield
Halifax
HX2 9TN
Business address Victoria Works
Holmfield Industrial Estate
Holmfield
Halifax
HX2 9TN
Bankers Barclays Bank plc
P O Box 224
10 Market Street
Bradford
BD1 1NR
Alliance Office Systems Limited
Abridged statement of financial position
28 February 2021
2021 2020
Note £ £ £ £
Fixed assets
Tangible assets 5 340,061 335,291
_______ _______
340,061 335,291
Current assets
Stocks 703,866 608,399
Debtors 1,341,593 1,890,610
Cash at bank and in hand 4,170,592 3,331,330
_______ _______
6,216,051 5,830,339
Creditors: amounts falling due
within one year ( 2,079,245) ( 1,580,577)
_______ _______
Net current assets 4,136,806 4,249,762
_______ _______
Total assets less current liabilities 4,476,867 4,585,053
Provisions for liabilities ( 68,012) ( 63,705)
_______ _______
Net assets 4,408,855 4,521,348
_______ _______
Capital and reserves
Called up share capital 65 65
Other reserves 35 35
Profit and loss account 4,408,755 4,521,248
_______ _______
Shareholders funds 4,408,855 4,521,348
_______ _______
For the year ending 28 February 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the abridged statement of comprehensive income has not been delivered.
All of the members have consented to the preparation of the abridged statement of comprehensive income and the abridged statement of financial position for the current year ending 28 February 2021 in accordance with Section 444(2A) of the Companies Act 2006.
These financial statements were approved by the board of directors and authorised for issue on 23 November 2021 , and are signed on behalf of the board by:
M. Tyszyk
Director
Company registration number: 2887711
Alliance Office Systems Limited
Statement of changes in equity
Year ended 28 February 2021
Called up share capital Capital redemption reserve Profit and loss account Total
£ £ £ £
At 28 February 2019 65 35 4,391,663 4,391,763
Profit for the year 802,225 802,225
_______ _______ _______ _______
Total comprehensive income for the year - - 802,225 802,225
Dividends paid and payable ( 672,640) ( 672,640)
_______ _______ _______ _______
Total investments by and distributions to owners - - ( 672,640) ( 672,640)
_______ _______ _______ _______
At 28 February 2020 and 29 February 2020 65 35 4,521,248 4,521,348
Profit for the year 608,605 608,605
_______ _______ _______ _______
Total comprehensive income for the year - - 608,605 608,605
Dividends paid and payable ( 721,098) ( 721,098)
_______ _______ _______ _______
Total investments by and distributions to owners - - ( 721,098) ( 721,098)
_______ _______ _______ _______
At 28 February 2021 65 35 4,408,755 4,408,855
_______ _______ _______ _______
Alliance Office Systems Limited
Notes to the financial statements
Year ended 28 February 2021
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Victoria Works, Holmfield Industrial Estate, Holmfield, Halifax, HX2 9TN.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. The Triennial review 2017 amendments to the standard have been early adopted.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery - 15 % reducing balance
Motor vehicles - 25 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 46 (2020: 47 ).
5. Tangible assets
£
Cost
At 29 February 2020 846,233
Additions 67,839
_______
At 28 February 2021 914,072
_______
Depreciation
At 29 February 2020 510,942
Charge for the year 63,069
_______
At 28 February 2021 574,011
_______
Carrying amount
At 28 February 2021 340,061
_______
At 28 February 2020 335,291
_______
6. Contingent assets and liabilities
T he company secured the bank loans of M.A. Estates Ltd.by cross company guarantee and a charge over the assets and property of the company. The amount secured is £87,093 (2020 £166,148 ).
7. Controlling party
M. Tyszyk , a director of the company, and his wife are the sole shareholders of the company.