ACCOUNTS - Final Accounts

Commitments under operating leases

At 31 March 2018 the Company had future minimum lease payments under non-cancellable operating leases as follows:

ALDEN DEVELOPMENTS LTD - Company Information

Caseware UK (AP4) 2016.0.181 2016.0.181 2018-03-312018-03-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truetrueNo description of principal activityfalse2017-04-01 03683562 2017-04-01 2018-03-31 03683562 2016-04-01 2017-03-31 03683562 2018-03-31 03683562 2017-03-31 03683562 c:Director1 2017-04-01 2018-03-31 03683562 c:Director2 2017-04-01 2018-03-31 03683562 d:PlantMachinery 2017-04-01 2018-03-31 03683562 d:PlantMachinery 2018-03-31 03683562 d:PlantMachinery 2017-03-31 03683562 d:PlantMachinery d:OwnedOrFreeholdAssets 2017-04-01 2018-03-31 03683562 d:MotorVehicles 2017-04-01 2018-03-31 03683562 d:MotorVehicles 2018-03-31 03683562 d:MotorVehicles 2017-03-31 03683562 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2017-04-01 2018-03-31 03683562 d:OwnedOrFreeholdAssets 2017-04-01 2018-03-31 03683562 d:LeasedAssetsHeldAsLessee 2017-04-01 2018-03-31 03683562 d:Goodwill 2018-03-31 03683562 d:Goodwill 2017-03-31 03683562 d:FreeholdInvestmentProperty 2018-03-31 03683562 d:FreeholdInvestmentProperty 2017-03-31 03683562 d:CurrentFinancialInstruments 2018-03-31 03683562 d:CurrentFinancialInstruments 2017-03-31 03683562 d:Non-currentFinancialInstruments 2018-03-31 03683562 d:Non-currentFinancialInstruments 2017-03-31 03683562 d:CurrentFinancialInstruments d:WithinOneYear 2018-03-31 03683562 d:CurrentFinancialInstruments d:WithinOneYear 2017-03-31 03683562 d:Non-currentFinancialInstruments d:AfterOneYear 2018-03-31 03683562 d:Non-currentFinancialInstruments d:AfterOneYear 2017-03-31 03683562 d:ShareCapital 2018-03-31 03683562 d:ShareCapital 2017-03-31 03683562 d:InvestmentPropertiesRevaluationReserve 2018-03-31 03683562 d:InvestmentPropertiesRevaluationReserve 2017-03-31 03683562 d:RetainedEarningsAccumulatedLosses 2018-03-31 03683562 d:RetainedEarningsAccumulatedLosses 2017-03-31 03683562 d:AcceleratedTaxDepreciationDeferredTax 2018-03-31 03683562 d:AcceleratedTaxDepreciationDeferredTax 2017-03-31 03683562 d:TaxLossesCarry-forwardsDeferredTax 2018-03-31 03683562 d:TaxLossesCarry-forwardsDeferredTax 2017-03-31 03683562 c:FRS102 2017-04-01 2018-03-31 03683562 c:AuditExempt-NoAccountantsReport 2017-04-01 2018-03-31 03683562 c:FullAccounts 2017-04-01 2018-03-31 03683562 c:PrivateLimitedCompanyLtd 2017-04-01 2018-03-31 03683562 d:BetweenOneFiveYears 2018-03-31 03683562 d:BetweenOneFiveYears 2017-03-31 03683562 d:MoreThanFiveYears 2018-03-31 03683562 d:MoreThanFiveYears 2017-03-31 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 2018

ALDEN DEVELOPMENTS LTD

REGISTERED NUMBER: 03683562

BALANCE SHEET

AS AT 31 MARCH 2018

		2018		2017
Note		£		£

Fixed assets
Tangible assets	5		43,042		36,403
Investments	6		5,000		5,000
Investment property	7		3,070,000		3,070,000
			3,118,042		3,111,403
Current assets
Debtors: amounts falling due within one year	8	11,926		23,998
Cash at bank and in hand		12,004		10,023
		23,930		34,021
Creditors: amounts falling due within one year	9	(503,127)		(513,675)
Net current liabilities			(479,197)		(479,654)
Total assets less current liabilities			2,638,845		2,631,749
Creditors: amounts falling due after more than one year	10		(569,172)		(658,531)
Provisions for liabilities
Deferred tax	11	(25,614)		(44,255)
			(25,614)		(44,255)
Net assets			2,044,059		1,928,963

Capital and reserves
Called up share capital	12	1,000	1,000
Investment property reserve		913,025	913,025
Profit and loss account		1,130,034	1,014,938
		2,044,059	1,928,963

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.

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ALDEN DEVELOPMENTS LTD

REGISTERED NUMBER: 03683562

BALANCE SHEET (CONTINUED)

AS AT 31 MARCH 2018

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 18 October 2018.

M J Alden	Mrs S M Alden
Director	Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

ALDEN DEVELOPMENTS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2018

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.

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ALDEN DEVELOPMENTS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2018

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, on a reducing balance basis.

Depreciation is provided on the following basis:

				Plant & machinery	-	25%
				Motor vehicles	-	25%

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.

Employees

The average monthly number of employees, including directors, during the year was 2 (2017 - 2).

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ALDEN DEVELOPMENTS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2018

4.	Intangible assets

		Goodwill
		£
	Cost
	At 1 April 2017	90,000
	At 31 March 2018	90,000
	Amortisation
	At 1 April 2017	90,000
	At 31 March 2018	90,000
	Net book value
	At 31 March 2018	-
	At 31 March 2017	-

5.	Tangible fixed assets

	Plant & machinery	Motor vehicles	Total
	£	£	£
Cost or valuation
At 1 April 2017	9,315	35,487	44,802
Additions	18,584	-	18,584
At 31 March 2018	27,899	35,487	63,386
Depreciation
At 1 April 2017	1,746	6,653	8,399
Charge for the year on owned assets	4,736	-	4,736
Charge for the year on financed assets	-	7,209	7,209
At 31 March 2018	6,482	13,862	20,344
Net book value
At 31 March 2018	21,417	21,625	43,042
At 31 March 2017	7,569	28,834	36,403

Page 5

ALDEN DEVELOPMENTS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2018

6.	Fixed asset investments

		Other fixed asset investments
		£
	Cost or valuation
	At 1 April 2017	5,000
	At 31 March 2018	5,000

	Net book value
	At 31 March 2018	5,000
	At 31 March 2017	5,000

7.	Investment property

		Freehold investment property
		£
	Valuation
	At 1 April 2017	3,070,000
	At 31 March 2018	3,070,000

The 2018 valuations were made by the directors, on an open market value for existing use basis.

					2018	2017
					£	£

Revaluation reserves
At 1 April 2017	913,025	950,464
Net surplus/(deficit) in movement properties	-	19,424
At 31 March 2018	913,025	969,888

Page 6

ALDEN DEVELOPMENTS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2018

Debtors

					2018	2017
					£	£


Trade debtors	11,926	14,354
Amount owed by associated business	-	9,644
	11,926	23,998

9.	Creditors: Amounts falling due within one year
		2018	2017
		£	£

Bank loans	80,000	80,000
Trade creditors	5,087	5,883
Amounts owed to associates	261,606	256,908
Corporation tax	29,657	23,854
Other taxation and social security	7,223	10,440
Obligations under finance lease and hire purchase contracts	4,976	4,976
Other creditors	112,278	129,414
Accruals and deferred income	2,300	2,200
	503,127	513,675

The bank loans of £627,545 (2017 - £732,301), inclusive of amounts falling due after more than one year, are mortgages secured against the properties to which they relate.

10.	Creditors: Amounts falling due after more than one year
		2018	2017
		£	£

Bank loans	567,918	652,301
Net obligations under finance leases and hire purchase contracts	1,254	6,230
	569,172	658,531

Page 7

ALDEN DEVELOPMENTS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2018

11.	Deferred taxation

		2018
		£

	At beginning of year	(44,255)
	Charged to profit or loss	18,641
	At end of year	(25,614)

The provision for deferred taxation is made up as follows:
	2018	2017
	£	£

Accelerated capital allowances	7,565	6,916
Potential capital gain on investment property	18,049	37,339
	25,614	44,255

Page 8

ALDEN DEVELOPMENTS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2018

12.	Share capital
		2018	2017
		£	£

Allotted, called up and fully paid

1,000 (2017 - 1,000) Ordinary shares of £1.00 each	1,000	1,000

Later than 1 year and not later than 5 years	51,000	51,000
Later than 5 years	81,000	132,000
	132,000	183,000

Page 9