Albor Investments Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10563822

ALBOR INVESTMENTS LTD

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2019

Page

Balance Sheet

1

Notes to the Financial Statements

2

FIXED ASSETS

Investment property

4

311,522

311,522

CURRENT ASSETS

Debtors

5

17,557

10,986

Cash at bank

3,068

11,513

20,625

22,499

CREDITORS

Amounts falling due within one year

6

319,463

316,820

NET CURRENT LIABILITIES

(298,838

)

(294,321

)

TOTAL ASSETS LESS CURRENT LIABILITIES

12,684

17,201

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

12,584

17,101

12,684

17,201

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2019 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors on 20 January 2020 and were signed on its behalf by:

F D B D S De Silva Rivera - Director

1.	STATUTORY INFORMATION

Albor Investments Ltd is a private company, limited by shares, registered in England. The registered office is

One Fleet Place, London, EC4M 7WS.

The financial statements are presented in Sterling (£).

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. There were no material departures from this standard. The financial

statements have been prepared under the historical cost convention as modified by the revaluation of certain

assets.

Judgements

The company considers on an annual basis the judgements that are made by management when applying its

significant accounting policies that would have the most significant effect on amounts that are recognised in the

financial statements. The directors consider there are no such significant judgements.

Turnover

Turnover represents rent receivable and related income, net of value added tax. The company's policy is to

recognise rental income in accordance with the terms of the lease agreements.

Investment property

The company's investment property is held for long term investment. Investment property is accounted for as

follows:

(i) Investment property is initially recorded at cost which includes purchase cost and any directly attributable

expenditure.

(ii) Thereafter, investment property is revalued at each balance sheet date to fair value, where this can be

measured reliably.

(iii) The surplus or deficit arising on revaluation in the financial year is recognised in the profit and loss account

for that year. Revaluation gains and losses are accumulated in the profit and loss account reserve, unless the

revaluation amount exceeds original cost in which case, a transfer is made of the surplus to a nondistributable

reserve (fair value reserve) in the balance sheet.

(iv) Deferred taxation is provided on any gains at the rate expected to apply when a property is sold.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial

assets and liabilities like trade and other accounts receivable and payable and loans from related parties.

Debt instruments like loans and other accounts receivable and payable are initially measured at present value of

the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that

are payable or receivable within one year, typically trade debtors and trade creditors, are measured, initially and

subsequently, at the undiscounted amount of cash or other consideration expected to be paid or received.

Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for evidence

of impairment and if found, an impairment loss is recognised in profit or loss.

Taxation

Taxation represents the sum of tax currently payable and deferred tax. The company's liability for current tax is

calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

The charge for taxation takes into account taxation deferred as a result of timing differences between the

treatment of certain items for taxation and accounting purposes. In general, deferred taxation is recognised in

respect of all timing differences that have originated but not reversed at the balance sheet date. However,

deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that

they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred

taxation is measured on a non-discounted basis at the average tax rates that would apply when the timing

differences are expected to reverse, based on tax rates and laws that have been enacted by the balance sheet date.

With the exception of changes arising on the initial recognition of a business combination, the tax expense is

presented either in profit or loss, other comprehensive income or statement of changes in equity depending on the

transaction that resulted in the tax expense.

Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors.

Provisions

Provisions are recognised when the company has a legal or constructive obligation at the reporting date as a

result of a past event, it is probable that the company will be required to settle the obligation and the amount of

the obligation can be reliably estimated. Provisions are recognised at the best estimate of the amount required to

settle the obligation at the reporting date.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2018 - NIL).

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 May 2018

and 30 April 2019

311,522

NET BOOK VALUE

At 30 April 2019

311,522

At 30 April 2018

311,522

The fair value of the investment property at 30 April 2019 has been arrived at on the basis of a valuation carried

out at that date by the company directors, who are not professionally qualified valuers. The valuation was arrived

at by reference to market evidence of transaction prices for similar properties in their location and takes into

account the current state of the rental market in the area where the property is situated.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Other debtors

17,557

10,986

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade creditors

8,256

1,016

Taxation and social security

-

5,231

Other creditors

311,207

310,573

319,463

316,820

7.	RELATED PARTY DISCLOSURES

The balance due to the directors at the balance sheet date was £305,957 (2018 - £305,957). The amount is

included in creditors and is unsecured, interest free and has no fixed repayment terms.