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Registered number: 3683562
ALDEN DEVELOPMENTS LTD
(formerly Morton Windows and Conservatories Limited)
UNAUDITED
ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2015
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ALDEN DEVELOPMENTS LTD
REGISTERED NUMBER: 3683562
ABBREVIATED BALANCE SHEET
AS AT 31 MARCH 2015
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Stocks & work in progress
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CREDITORS: amounts falling due within one year
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TOTAL ASSETS LESS CURRENT LIABILITIES
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CREDITORS: amounts falling due after more than one year
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PROVISIONS FOR LIABILITIES
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The directors consider that the company is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 ("the Act") and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and for preparing financial statements which give a true and fair view of the state of affairs of the company as at 31 March 2015 and of its profit for the year in accordance with the requirements of sections 394 and 395 of the Act and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.
Page 1
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ALDEN DEVELOPMENTS LTD
ABBREVIATED BALANCE SHEET (continued)
AS AT 31 MARCH 2015
The abbreviated accounts, which have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006, were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 3 to 6 form part of these financial statements.
Page 2
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ALDEN DEVELOPMENTS LTD
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2015
1.ACCOUNTING POLICIES
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BASIS OF PREPARATION OF FINANCIAL STATEMENTS
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The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention as modified by the revaluation of investment property and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
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Turnover comprises revenue recognised by the company in respect of goods and services supplied during the year, and rental income, exclusive of Value Added Tax and trade discounts.
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INTANGIBLE FIXED ASSETS AND AMORTISATION
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Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the identifiable assets and liabilities. It is amortised to the profit and loss account over its estimated economic life.
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TANGIBLE FIXED ASSETS AND DEPRECIATION
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Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
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L/Term Leasehold Property
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Over the term of the lease
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Investments held as fixed assets are shown at cost less provision for impairment.
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Investment properties are included in the balance sheet at their open market value in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008) and are not depreciated. This treatment is contrary to the Companies Act 2006 which states that fixed assets should be depreciated but is, in the opinion of the directors, necessary in order to give a true and fair view of the financial position of the company.
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LEASING AND HIRE PURCHASE
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Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
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Page 3
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ALDEN DEVELOPMENTS LTD
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2015
1.ACCOUNTING POLICIES (continued)
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STOCKS AND WORK IN PROGRESS
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Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
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Full provision is made for deferred tax assets and liabilities arising from all timing differences between the recognition of gains and losses in the financial statements and recognition in the tax computation.
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Deferred tax is not provided on timing differences arising from the revaluation of fixed assets in the financial statements.
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A net deferred tax asset is recognised only if it can be regarded as more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.
Deferred tax assets and liabilities are calculated at the tax rates expected to be effective at the time the timing differences are expected to reverse.
Deferred tax assets and liabilities are not discounted.
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The company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the company to the fund in respect of the year.
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2.INTANGIBLE FIXED ASSETS
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At 1 April 2014 and 31 March 2015
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At 1 April 2014 and 31 March 2015
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Page 4
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ALDEN DEVELOPMENTS LTD
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2015
3.TANGIBLE FIXED ASSETS
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Revaluation surplus/(deficit)
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4.INVESTMENT PROPERTY
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Surplus/(deficit) on revaluation
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Transfers between classes
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The 2015 valuations were made by the directors, on an open market value for existing use basis.
5.FIXED ASSET INVESTMENTS
Page 5
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ALDEN DEVELOPMENTS LTD
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2015
6.CREDITORS:
AMOUNTS FALLING DUE WITHIN ONE YEAR
The company has a £50,000 overdraft facility guaranteed on the investment property.
7.CREDITORS:
AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
Creditors include amounts not wholly repayable within 5 years as follows:
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Repayable other than by instalments
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The aggregate amount of all creditors in the company's balance sheet in respect of which security has
been given by the company is £913,740 (2014 : £1,092,034).
8.SHARE CAPITAL
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ALLOTTED, CALLED UP AND FULLY PAID
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1,000 Ordinary shares of £1 each
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Page 6
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