REGISTERED NUMBER: 04277364 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2018

FOR

ALTITEC LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

T Dyffort

REGISTERED OFFICE:

51a Anson Road

Tufnell Park

London

N7 0AR

REGISTERED NUMBER:

04277364 (England and Wales)

ACCOUNTANTS:

Christopher & Co

Chartered Accountants

51a Anson Road

Tufnell Park

London

N7 0AR

FIXED ASSETS

Tangible assets

4

245,134

236,074

Investments

5

22,065

21,981

267,199

258,055

CURRENT ASSETS

Stocks

394,276

236,906

Debtors

6

1,029,378

878,319

Cash at bank and in hand

142,262

256,260

1,565,916

1,371,485

CREDITORS

Amounts falling due within one year

7

(697,437

)

(762,528

)

NET CURRENT ASSETS

868,479

608,957

TOTAL ASSETS LESS CURRENT LIABILITIES

1,135,678

867,012

CREDITORS

Amounts falling due after more than one year

8

(79,031

)

(122,790

)

PROVISIONS FOR LIABILITIES

(46,575

)

(47,029

)

NET ASSETS

1,010,072

697,193

CAPITAL AND RESERVES

Called up share capital

76

500

Share premium

74,984

-

Capital redemption reserve

498

59

Retained earnings

934,514

696,634

SHAREHOLDERS' FUNDS

1,010,072

697,193

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 12 February 2019 and were signed by:

T Dyffort - Director

1.	STATUTORY INFORMATION

Altitec Limited is a private company, limited by shares , registered in England and Wales. The company's registered

number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents net invoiced sales of services, excluding value added tax.

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 etc

-

25% on reducing balance and

Fixed asset investments in the share capital of subsidiary companies are carried at cost. Provision for diminution in

value is made where the directors believe that any fall in value is likely to be permanent.

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 year 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 or deferred taxation assets and liabilities are not discounted.

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.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2017 - 8 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 May 2017

345,522

Additions

79,937

Disposals

(77,265

)

At 30 April 2018

348,194

DEPRECIATION

At 1 May 2017

109,448

Charge for year

62,754

Eliminated on disposal

(69,142

)

At 30 April 2018

103,060

NET BOOK VALUE

At 30 April 2018

245,134

At 30 April 2017

236,074

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 May 2017

21,981

Additions

84

At 30 April 2018

22,065

NET BOOK VALUE

At 30 April 2018

22,065

At 30 April 2017

21,981

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.18

30.4.17

£

£

Trade debtors

828,780

696,810

Other debtors

200,598

181,509

1,029,378

878,319

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.18

30.4.17

£

£

Bank loans and overdrafts

4,760

28,489

Hire purchase contracts

34,349

32,484

Trade creditors

400,893

490,763

Taxation and social security

145,031

92,210

Other creditors

112,404

118,582

697,437

762,528

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.4.18

30.4.17

£

£

Bank loans

-

4,861

Hire purchase contracts

79,031

117,929

79,031

122,790

9.	RELATED PARTY DISCLOSURES

During the year, total dividends of £187,000 (2017 - £100,000) were paid to the director .

Other creditors includes £25,428 (2017 - £20,923) due to the director.

The company made sales of £386,317 (2017 - £Nil) and purchases of £31,883 (2017 - £79,713) to/from group

companies. Trade debtors includes £386,317 (2017 - £Nil) due from group companies. Other debtors includes

£24,705 (2017 - £Nil) due from group companies. Trade creditors includes £15,790 (2017 - £30,328) due to group

companies. Other creditors includes £11,635 (2017 - £11,995) due to group companies.

10.

CONTROL

The company was controlled throughout the year by the director Mr T Dyffort.