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REGISTERED NUMBER: 06856494 (England and Wales)













Unaudited Financial Statements

for the Year Ended 31 March 2023

for

Allerton Steel (Property) Limited

Allerton Steel (Property) Limited (Registered number: 06856494)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Allerton Steel (Property) Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: J Gatenby
A R Gatenby





REGISTERED OFFICE: Allerton House
Thurston Road
Northallerton
North Yorkshire
DL6 2NA





REGISTERED NUMBER: 06856494 (England and Wales)





ACCOUNTANTS: Clive Owen LLP
Chartered Accountants
140 Coniscliffe Road
DARLINGTON
Co Durham
DL3 7RT

Allerton Steel (Property) Limited (Registered number: 06856494)

Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 2,000,000 2,000,000

CURRENT ASSETS
Debtors 5 - 34
Cash at bank 6,065 13,600
6,065 13,634
CREDITORS
Amounts falling due within one year 6 86,502 513,340
NET CURRENT LIABILITIES (80,437 ) (499,706 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,919,563

1,500,294

CREDITORS
Amounts falling due after more than one
year

7

1,392,400

98,656
NET ASSETS 527,163 1,401,638

CAPITAL AND RESERVES
Called up share capital 9 1,000 1,000
Investment property revaluations reserve 351,722 351,722
Retained earnings 174,441 1,048,916
SHAREHOLDERS' FUNDS 527,163 1,401,638

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Allerton Steel (Property) Limited (Registered number: 06856494)

Balance Sheet - continued
31 March 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 September 2023 and were signed on its behalf by:





J Gatenby - Director


Allerton Steel (Property) Limited (Registered number: 06856494)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Allerton Steel (Property) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

There were no material departures from that standard.

The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group or those concluded under normal market conditions.

Investment property
Investment property is included at fair value. Gains and losses are recognised in the Profit and Loss Account. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Financial instruments
Basic financial instruments are recognised at amortised cost with changes recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

Allerton Steel (Property) Limited (Registered number: 06856494)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022
and 31 March 2023 2,000,000
NET BOOK VALUE
At 31 March 2023 2,000,000
At 31 March 2022 2,000,000

Fair value at 31 March 2023 is represented by:
£   
Valuation in 2020 351,722
Cost 1,648,278
2,000,000

Investment property was valued on an open market basis on 18 July 2018 by Savills .

The director considers that open market value has not changed significantly.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors - 34

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed to group undertakings 70,000 410,753
Taxation and social security 14,702 29,070
Bank loan - 71,462
Accruals and deferred income 1,800 2,055
86,502 513,340

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Amounts owed to group undertakings 1,392,400 -
Bank loan - 98,656
1,392,400 98,656

Allerton Steel (Property) Limited (Registered number: 06856494)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loan - 170,118

The bank loan was repayable by instalments and is secured on the investment property.

All monies due or to become due to Barclays Bank Plc were secured by a guarantee and debenture dated 16 July 2009, incorporating a fixed and floating charge over all current and future property and assets of the company.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1,000 Ordinary £1 1,000 1,000

10. ULTIMATE PARENT COMPANY

The ultimate parent company is JTC Trustees Limited, a company registered in Jersey. The registered office of the company is Elizabeth House, 9 Castle Street, St Helier, Jersey, JE2 3RT.