Alliance Property Developments U.K. Limited Filleted accounts for Companies House (small and micro)

Alliance Property Developments U.K. Limited Filleted accounts for Companies House (small and micro)

ALLIANCE PROPERTY DEVELOPMENTS U.K. LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 03757251
Alliance Property Developments U.K. Limited
Filleted Unaudited Financial Statements
30 June 2023
Alliance Property Developments U.K. Limited
Financial Statements
Year ended 30 June 2023
Contents
Page
Chartered certified accountants report to the director on the preparation of the unaudited statutory financial statements
1
Statement of financial position
2
Accounting policies
4
Notes to the financial statements
7
Alliance Property Developments U.K. Limited
Chartered Certified Accountants Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of Alliance Property Developments U.K. Limited
Year ended 30 June 2023
As described on the statement of financial position, the director of the company is responsible for the preparation of the financial statements for the year ended 30 June 2023, which comprise the statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
BODDINGTON & COMPANY LIMITED Chartered Certified Accountants
3 Churchmeadows Bulford Road Shipton Bellinger Tidworth Hampshire SP9 7RL
27 March 2024
Alliance Property Developments U.K. Limited
Statement of Financial Position
30 June 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
6
10,604,880
10,617,793
Investments
7
1,155,750
1,155,750
-------------
-------------
11,760,630
11,773,543
Current assets
Stocks
20,774
20,774
Debtors
8
1,680,256
1,502,770
Investments
9
682,539
466,947
Cash at bank and in hand
174,416
762,867
------------
------------
2,557,985
2,753,358
Creditors: amounts falling due within one year
10
2,558,368
2,591,716
------------
------------
Net current (liabilities)/assets
( 383)
161,642
-------------
-------------
Total assets less current liabilities
11,760,247
11,935,185
Creditors: amounts falling due after more than one year
11
2,500,000
3,250,000
Provisions
Taxation including deferred tax
1,853,022
1,291,009
-------------
-------------
Net assets
7,407,225
7,394,176
-------------
-------------
Capital and reserves
Called up share capital
1
1
Other reserves
6,797,087
7,285,593
Profit and loss account
610,137
108,582
------------
------------
Shareholder funds
7,407,225
7,394,176
------------
------------
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 comprehensive income has not been delivered.
Alliance Property Developments U.K. Limited
Statement of Financial Position (continued)
30 June 2023
For the year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 25 March 2024 , and are signed on behalf of the board by:
Mr. R. Cooper
Director
Company registration number: 03757251
Alliance Property Developments U.K. Limited
Accounting Policies
Year ended 30 June 2023
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 comprises rents receivable and fees receivable and is stated net of value added tax. Rents receivable are recognised as income when the company has the right to the rental income in accordance with the terms of the lease with the tenant. Fees receivable are recognised as income as work is completed.
Income tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax, with the following exceptions: provision is made for tax on gains arising from the revaluation (and similar fair value adjustments) of fixed assets, and gains on disposal of fixed assets that have been rolled over into replacement assets, only to the extent that, at the balance sheet date, there is a binding agreement to dispose of the assets concerned. However, no provision is made where, on the basis of all available evidence at the balance sheet date, it is more likely than not that the taxable gain will be rolled over into replacement assets and charged to tax only where the replacement assets are sold; deferred tax assets are recognised only to the extent that the directors consider that it is 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 is measured on a discounted/an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Franchise fees
-
20% Straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
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.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Leasehold property
-
Duration of lease
Office equipment and fittings
-
25% Straight line
Motor Vehicles
-
25% Straight line
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
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 liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
Alliance Property Developments U.K. Limited
Notes to the Financial Statements
Year ended 30 June 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 81 Portsmouth Road, Surbiton, Surrey, KT6 5PT, England.
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. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2021:1)
4. Staff costs
The average number of persons employed by the company during the year, including the director, amounted to:
2023
2022
No.
No.
Management staff
2
2
----
----
The aggregate payroll costs incurred during the year, relating to the above, were:
2023
2022
£
£
Wages and salaries
18,561
1,390
Social security costs
692
193
Other pension costs
300
–
--------
-------
19,553
1,583
--------
-------
5. Intangible assets
Franchise fees
£
Cost
At 1 July 2022 and 30 June 2023
35,000
--------
Amortisation
At 1 July 2022 and 30 June 2023
35,000
--------
Carrying amount
At 30 June 2023
–
--------
At 30 June 2022
–
--------
6. Tangible assets
Land and buildings
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
Cost
At 1 July 2022
10,555,383
31,070
62,908
10,649,361
Additions
14,350
10,671
–
25,021
Disposals
–
( 10,265)
–
( 10,265)
-------------
--------
--------
-------------
At 30 June 2023
10,569,733
31,476
62,908
10,664,117
-------------
--------
--------
-------------
Depreciation
At 1 July 2022
7,863
21,072
2,633
31,568
Charge for the year
13,150
5,859
15,725
34,734
Disposals
–
( 7,065)
–
( 7,065)
-------------
--------
--------
-------------
At 30 June 2023
21,013
19,866
18,358
59,237
-------------
--------
--------
-------------
Carrying amount
At 30 June 2023
10,548,720
11,610
44,550
10,604,880
-------------
--------
--------
-------------
At 30 June 2022
10,547,520
9,998
60,275
10,617,793
-------------
--------
--------
-------------
Tangible assets held at valuation
Investment property is valued by the director at open market value.
7. Investments
Shares in group undertakings
£
Cost
At 1 July 2022 and 30 June 2023
1,155,750
------------
Impairment
At 1 July 2022 and 30 June 2023
–
------------
Carrying amount
At 30 June 2023
1,155,750
------------
At 30 June 2022
1,155,750
------------
8. Debtors
2023
2022
£
£
Trade debtors
–
1,932
Other debtors
1,680,256
1,500,838
------------
------------
1,680,256
1,502,770
------------
------------
9. Investments
2023
2022
£
£
Short term trading investments
682,539
466,947
---------
---------
10. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
600,000
–
Amounts owed to group undertakings and undertakings in which the company has a participating interest
1,213,500
1,207,649
Other creditors
744,868
1,384,067
------------
------------
2,558,368
2,591,716
------------
------------
11. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
2,500,000
3,250,000
------------
------------
12. Fair value reserve
The following movements on the fair value reserve are included within other reserves in the statement of changes in equity:
2023
2022
£
£
At start of year
7,285,593
7,285,593
Tax relating to components of other comprehensive income
(488,506)
–
------------
------------
At end of year
6,797,087
7,285,593
------------
------------