ACCOUNTS - Final Accounts

Commitments under operating leases

At 31 March 2019 the Company had future minimum lease payments under non-cancellable operating leases as follows:

ALDEN DEVELOPMENTS LTD - Company Information

Caseware UK (AP4) 2018.0.196 2018.0.196 2019-03-312019-03-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truetrueNo description of principal activityfalse2018-04-01 03683562 2018-04-01 2019-03-31 03683562 2017-04-01 2018-03-31 03683562 2019-03-31 03683562 2018-03-31 03683562 c:Director1 2018-04-01 2019-03-31 03683562 c:Director2 2018-04-01 2019-03-31 03683562 d:PlantMachinery 2018-04-01 2019-03-31 03683562 d:PlantMachinery 2019-03-31 03683562 d:PlantMachinery 2018-03-31 03683562 d:PlantMachinery d:OwnedOrFreeholdAssets 2018-04-01 2019-03-31 03683562 d:MotorVehicles 2018-04-01 2019-03-31 03683562 d:MotorVehicles 2019-03-31 03683562 d:MotorVehicles 2018-03-31 03683562 d:MotorVehicles d:OwnedOrFreeholdAssets 2018-04-01 2019-03-31 03683562 d:OwnedOrFreeholdAssets 2018-04-01 2019-03-31 03683562 d:Goodwill 2019-03-31 03683562 d:Goodwill 2018-03-31 03683562 d:FreeholdInvestmentProperty 2019-03-31 03683562 d:FreeholdInvestmentProperty 2018-03-31 03683562 d:FreeholdInvestmentProperty 2 2018-04-01 2019-03-31 03683562 d:CurrentFinancialInstruments 2019-03-31 03683562 d:CurrentFinancialInstruments 2018-03-31 03683562 d:Non-currentFinancialInstruments 2019-03-31 03683562 d:Non-currentFinancialInstruments 2018-03-31 03683562 d:CurrentFinancialInstruments d:WithinOneYear 2019-03-31 03683562 d:CurrentFinancialInstruments d:WithinOneYear 2018-03-31 03683562 d:Non-currentFinancialInstruments d:AfterOneYear 2019-03-31 03683562 d:Non-currentFinancialInstruments d:AfterOneYear 2018-03-31 03683562 d:ShareCapital 2019-03-31 03683562 d:ShareCapital 2018-03-31 03683562 d:InvestmentPropertiesRevaluationReserve 2019-03-31 03683562 d:InvestmentPropertiesRevaluationReserve 2018-03-31 03683562 d:RetainedEarningsAccumulatedLosses 2019-03-31 03683562 d:RetainedEarningsAccumulatedLosses 2018-03-31 03683562 d:AcceleratedTaxDepreciationDeferredTax 2019-03-31 03683562 d:AcceleratedTaxDepreciationDeferredTax 2018-03-31 03683562 d:TaxLossesCarry-forwardsDeferredTax 2019-03-31 03683562 d:TaxLossesCarry-forwardsDeferredTax 2018-03-31 03683562 c:FRS102 2018-04-01 2019-03-31 03683562 c:AuditExempt-NoAccountantsReport 2018-04-01 2019-03-31 03683562 c:FullAccounts 2018-04-01 2019-03-31 03683562 c:PrivateLimitedCompanyLtd 2018-04-01 2019-03-31 03683562 c:PublicLimitedCompanyPLCNotQuotedOnAnyExchange 2018-04-01 2019-03-31 03683562 d:WithinOneYear 2019-03-31 03683562 d:WithinOneYear 2018-03-31 03683562 d:BetweenOneFiveYears 2019-03-31 03683562 d:BetweenOneFiveYears 2018-03-31 03683562 d:MoreThanFiveYears 2019-03-31 03683562 d:MoreThanFiveYears 2018-03-31 03683562 6 2018-04-01 2019-03-31 iso4217:GBP xbrli:pure

Registered number: 03683562

ALDEN DEVELOPMENTS LTD

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2019

ALDEN DEVELOPMENTS LTD

REGISTERED NUMBER: 03683562

BALANCE SHEET

AS AT 31 MARCH 2019

		2019		2018
Note		£		£

Fixed assets
Tangible assets	5		16,063		43,042
Investments	6		5,000		5,000
Investment property	7		4,198,000		3,070,000
			4,219,063		3,118,042
Current assets
Debtors: amounts falling due within one year	8	5,057		11,926
Cash at bank and in hand	9	15,382		12,004
		20,439		23,930
Creditors: amounts falling due within one year	10	(455,105)		(503,127)
Net current liabilities			(434,666)		(479,197)
Total assets less current liabilities			3,784,397		2,638,845
Creditors: amounts falling due after more than one year	11		(477,990)		(569,172)
Provisions for liabilities
Deferred tax	12	(235,421)		(25,614)
			(235,421)		(25,614)
Net assets			3,070,986		2,044,059

Capital and reserves
Called up share capital	1,000	1,000
Investment property reserve	1,826,093	913,025
Profit and loss account	1,243,893	1,130,034
	3,070,986	2,044,059

Page 1

ALDEN DEVELOPMENTS LTD

REGISTERED NUMBER: 03683562

BALANCE SHEET (CONTINUED)

AS AT 31 MARCH 2019

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 2 December 2019.

M J Alden	Mrs S M Alden
Director	Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

ALDEN DEVELOPMENTS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2019

1.	General information

Alden Developments Ltd is a private company limited by shares incorporated in England and Wales under the Companies Act. The address of its registered office is Anglia House, 6 Central Avenue, St Andrews Business Park, Thorpe St Andrew, Norwich, Norfolk, NR7 0HR.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Revenue

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

2.3

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

2.4

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Page 3

ALDEN DEVELOPMENTS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2019

2.Accounting policies (continued)

2.5

Tangible fixed assets

Tangible fixed assets under the cost model, other than investment properties, are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

				Plant & machinery	-	25%	reducing balance
				Motor vehicles	-	25%	reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the profit and loss account.

2.6

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the profit and loss account.

2.7

Valuation of investments

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the profit and loss account for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

2.8

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Employees

The average monthly number of employees, including directors, during the year was 2 (2018 - 2).

Page 4

ALDEN DEVELOPMENTS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2019

4.	Intangible assets

		Goodwill
		£
	Cost
	At 1 April 2018	90,000
	At 31 March 2019	90,000
	Amortisation
	At 1 April 2018	90,000
	At 31 March 2019	90,000
	Net book value
	At 31 March 2019	-
	At 31 March 2018	-

5.	Tangible fixed assets

	Plant & machinery	Motor vehicles	Total
	£	£	£
Cost or valuation
At 1 April 2018	27,899	35,487	63,386
Disposals	-	(35,487)	(35,487)
At 31 March 2019	27,899	-	27,899
Depreciation
At 1 April 2018	6,482	13,862	20,344
Charge for the year on owned assets	5,354	-	5,354
Disposals	-	(13,862)	(13,862)
At 31 March 2019	11,836	-	11,836
Net book value
At 31 March 2019	16,063	-	16,063
At 31 March 2018	21,417	21,625	43,042

Page 5

ALDEN DEVELOPMENTS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2019

5.Tangible fixed assets (continued)

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:
	2019	2018
	£	£


	Motor vehicles	16,219	21,625

6.	Fixed asset investments

		Other fixed asset investments
		£
	Cost or valuation
	At 1 April 2018	5,000
	At 31 March 2019	5,000

7.	Investment property

		Freehold investment property
		£
	Valuation
	At 1 April 2018	3,070,000
	Surplus on revaluation	1,128,000
	At 31 March 2019	4,198,000

The 2019 valuations were made by the directors, on an open market value for existing use basis.

					2019	2018
					£	£

Investment property reserve
At 1 April 2018	913,025	913,025
Net surplus (net of deferred tax)	913,068	-
At 31 March 2019	1,826,093	913,025

Page 6

ALDEN DEVELOPMENTS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2019

Debtors

					2019	2018
					£	£


Trade debtors	5,057	11,926

9.	Cash and cash equivalents
		2019	2018
		£	£

	Cash at bank and in hand	15,382	12,004

10.	Creditors: Amounts falling due within one year
		2019	2018
		£	£

Bank loans	85,000	80,000
Trade creditors	6,837	5,087
Amounts owed to associates	219,711	261,606
Corporation tax	40,278	29,657
Other taxation and social security	6,791	7,223
Obligations under finance lease and hire purchase contracts	-	4,976
Other creditors	94,188	112,278
Accruals and deferred income	2,300	2,300
	455,105	503,127

11.	Creditors: Amounts falling due after more than one year
		2019	2018
		£	£

Bank loans	477,990	567,918
Net obligations under finance leases and hire purchase contracts	-	1,254
	477,990	569,172

Secured creditors
The bank loans amounting to £562,990 (2018 - £627,545), inclusive of amounts falling due after more than one year, are mortgages secured against the properties to which they relate.

12.	Deferred taxation

Page 7

ALDEN DEVELOPMENTS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2019

12.Deferred taxation (continued)

		2019
		£

	At beginning of year	(25,614)
	Charged to profit or loss	(209,807)
	At end of year	(235,421)

The provision for deferred taxation is made up as follows:
	2019	2018
	£	£

Accelerated capital allowances	3,052	8,178
Potential capital gain on investment property	232,369	17,436
	235,421	25,614

Not later than 1 year	51,000	-
Later than 1 year and not later than 5 years	-	51,000
Later than 5 years	-	81,000
	51,000	132,000

Page 8