Allbritain Investments Limited

Registered number

10202858

Filleted Accounts

31 May 2023

Allbritain Investments Limited
Registered number:		10202858
Balance Sheet
as at 31 May 2023

Notes			2023			2022
£				£
Fixed assets
Tangible assets	3		430,087			420,087

Current assets
Cash at bank and in hand		176,218			4,804

Creditors: amounts falling due within one year	4	(314,991)			(143,308)

Net current liabilities			(138,773)			(138,504)

Total assets less current liabilities			291,314			281,583

Creditors: amounts falling due after more than one year	5		(144,235)			(144,037)

Provisions for liabilities			(1,900)			(23,370)

Net assets			145,179			114,176

Capital and reserves
Called up share capital			2			2
Revaluation reserve	6		131,100			99,630
Profit and loss account			14,077			14,544

Shareholder's funds			145,179			114,176

The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




I B Newman
Director
Approved by the board on 20 September 2023

Allbritain Investments Limited
Notes to the Accounts
for the year ended 31 May 2023


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Land and buildings	Not Depreciated

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.


2	Employees		2023		2022
Number				Number

	Average number of persons employed by the company		0		0


3	Tangible fixed assets
					Land and buildings
£
	Cost
	At 1 June 2022				420,087
	Surplus on revaluation				10,000
	At 31 May 2023				430,087

	Depreciation
	At 31 May 2023				-

	Net book value
	At 31 May 2023				430,087
	At 31 May 2022				420,087
	The last valuation of Land and buildings was carried out on 31.05.2023. The valuer was an independent agent using normal residential letting criteria methods to determine market value.


4	Creditors: amounts falling due within one year		2023		2022
£				£

	Amounts owed to group undertakings and undertakings in which the company has a participating interest		164,030		2,842
	Taxation and social security costs		2,506		2,523
	Other creditors		148,455		137,943
			314,991		143,308


5	Creditors: amounts falling due after one year		2023		2022
£				£

	Bank loans		144,235		144,037


6	Revaluation reserve		2023		2022
£				£

	At 1 June 2022		99,630		-
	Gain on revaluation of land and buildings		10,000		123,000
	Deferred taxation arising on the revaluation of land and buildings		21,470		(23,370)

	At 31 May 2023		131,100		99,630


7	Related party transactions

	Amount due to director at the end of year was £147,225 (2022 : £136,773).

	Allbritain Construction Limited
	Intercompany

	Amount due to intercompany at the end of year was £4,030 (2022 : £2,842).

	Allbritain Holdings Limited
	Holding company

	Amount due to holding company at the end of year was £160,000 (2022 : Nil).

8	Controlling party

	On 13/07/2022 a special resolution was passed for share exchange and that 1 issued share held by Ian Newman and 1 issued share held by Pamela Newman in the issued share capital of the Allbritain Investments Limited transferred to Allbritain Holdings Limited. Allbritain Holdings Limited in exchange for the allotment of 1 new shares to Ian Newman and 1 new shares to Pamela Newman in Allbritain Holdings Limited. Allbritain Holdings Limited now own 100% of the issued share capital of Allbritain Investments Limited


9	Other information

	Allbritain Investments Limited is a private company limited by shares and incorporated in England. Its registered office is:
	The Stables Woodbury Lane
	Norton
	Worcester
	England
	WR5 2PT