Alycidon Investments Limited Filleted accounts for Companies House (small and micro)

ALYCIDON INVESTMENTS LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 01874634

ALYCIDON INVESTMENTS LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 March 2023

ALYCIDON INVESTMENTS LIMITED

FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2023

Contents	Page

Officers and professional advisers	1

Statement of financial position	2

Notes to the financial statements	4

ALYCIDON INVESTMENTS LIMITED

OFFICERS AND PROFESSIONAL ADVISERS

The board of directors	P S Bennett
	G T Marsden
	P B Marsden

Company secretary	G T Marsden

Registered office	95 Jermyn Street
	London
	SW1Y 6JE

Accountants	BSG Valentine (UK) LLP
	Chartered accountants
	Lynton House
	7 - 12 Tavistock Square
	London
	WC1H 9BQ

ALYCIDON INVESTMENTS LIMITED

STATEMENT OF FINANCIAL POSITION

31 March 2023

	2023		2022
Note	£	£	£	£

FIXED ASSETS

Tangible assets	5		7,425,000		7,400,000

CURRENT ASSETS

Debtors	6	93,245	103,520
Cash at bank and in hand		208,597	301,954
		---------	---------
		301,842	405,474

CREDITORS: amounts falling due within one year	7	( 433,717)		( 303,993)
		---------		---------
NET CURRENT (LIABILITIES)/ASSETS			( 131,875)		101,481
			------------		------------
TOTAL ASSETS LESS CURRENT LIABILITIES			7,293,125		7,501,481

CREDITORS: amounts falling due after more than one year	8		( 1,364,701)		( 1,418,265)

PROVISIONS	( 594,372)	( 547,138)
	------------	------------
NET ASSETS	5,334,052	5,536,078
	------------	------------

CAPITAL AND RESERVES

Called up share capital		11,153	11,153
Share premium account	9	251,213	251,213
Capital redemption reserve	9	618	618
Profit and loss account	9	5,071,068	5,273,094
		------------	------------
SHAREHOLDERS FUNDS		5,334,052	5,536,078
		------------	------------

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 statement of income and retained earnings has not been delivered.

For the year ending 31 March 2023 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 .

ALYCIDON INVESTMENTS LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

31 March 2023

These financial statements were approved by the board of directors and authorised for issue on 21 August 2023 , and are signed on behalf of the board by:

G T Marsden

Director

Company registration number: 01874634

ALYCIDON INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2023

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 95 Jermyn Street, London, SW1Y 6JE.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

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.

Revenue recognition

Turnover represents gross rents receivable from the letting of investment properties.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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 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 equity, 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 equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 4 (2022: 4 ).

5. Tangible assets

	Freehold property
	£
Cost
At 1 April 2022	7,400,000
Additions	25,000
	------------
At 31 March 2023	7,425,000
	------------
Depreciation
At 1 April 2022 and 31 March 2023	–
	------------
Carrying amount
At 31 March 2023	7,425,000
	------------
At 31 March 2022	7,400,000
	------------

Tangible assets held at valuation

The company's investment properties, which were revalued by the board as at 31 March 2023, have an original cost of £3,645,663.

6. Debtors

	2023	2022
	£	£
Trade debtors	62,338	67,825
Amounts owed by group undertakings and undertakings in which the company has a participating interest	10,000	10,000
Other debtors	20,907	25,695
	--------	---------
	93,245	103,520
	--------	---------

7. Creditors: amounts falling due within one year

	2023	2022
	£	£
Bank loans and overdrafts	53,564	52,074
Trade creditors	48,566	46,625
Social security and other taxes	58,895	38,860
Other creditors	272,692	166,434
	---------	---------
	433,717	303,993
	---------	---------

8. Creditors: amounts falling due after more than one year

	2023	2022
	£	£
Bank loans and overdrafts	1,364,701	1,418,265
	------------	------------

The bank loans are secured by a legal charge on the investment properties and other tangible assets of the company. A debenture was created between the company Lloyds Bank on 23 August 2016.

The bank loan falling due after more than 5 years is £1,142,229 (2022: £1,195,793).

9. Reserves

An amount of £3,051,291 (2022: £2,985,351) within the profit and loss account is non-distributable.