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Registration number: 13685609

21 Living Altrincham Limited

Unaudited Filleted Financial Statements

for the Period from 18 October 2021 to 31 October 2022

 

21 Living Altrincham Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 9

 

21 Living Altrincham Limited

Company Information

Director

Mr Luke Gerard Powell

Registered office

York House
20 York Street
Manchester
England
M2 3BB

Accountants

Williamson Croft Accountants Limited
Chartered Certified Accountants
York House
20 York Street
Manchester
M2 3BB

 

Chartered Certified Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
21 Living Altrincham Limited
for the Period Ended 31 October 2022

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of 21 Living Altrincham Limited for the period ended 31 October 2022 as set out on pages 3 to 9 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.

This report is made solely to the Board of Directors of 21 Living Altrincham Limited, as a body, in accordance with the terms of our engagement letter dated 1 November 2022. Our work has been undertaken solely to prepare for your approval the accounts of 21 Living Altrincham Limited and state those matters that we have agreed to state to the Board of Directors of 21 Living Altrincham Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/
october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than 21 Living Altrincham Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that 21 Living Altrincham Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of 21 Living Altrincham Limited. You consider that 21 Living Altrincham Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the accounts of 21 Living Altrincham Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Williamson Croft Accountants Limited
Chartered Certified Accountants
York House
20 York Street
Manchester
M2 3BB

6 October 2023

 

21 Living Altrincham Limited

(Registration number: 13685609)
Balance Sheet as at 31 October 2022

Note

2022
£

Fixed assets

 

Investment property

4

1,400,000

Current assets

 

Debtors

5

6,837

Cash at bank and in hand

 

9,020

 

15,857

Creditors: Amounts falling due within one year

6

(86,125)

Net current liabilities

 

(70,268)

Total assets less current liabilities

 

1,329,732

Creditors: Amounts falling due after more than one year

6

(474,254)

Provisions for liabilities

(218,410)

Net assets

 

637,068

Capital and reserves

 

Called up share capital

7

5

Retained earnings

637,063

Shareholders' funds

 

637,068

For the financial period ending 31 October 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 6 October 2023
 

 

21 Living Altrincham Limited

(Registration number: 13685609)
Balance Sheet as at 31 October 2022

.........................................
Mr Luke Gerard Powell
Director

 

21 Living Altrincham Limited

Notes to the Unaudited Financial Statements for the Period from 18 October 2021 to 31 October 2022

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
York House
20 York Street
Manchester
England
M2 3BB

The principal place of business is:
Causeway House, Office 1, 15 The Causeway
Altrincham
Cheshire
WA14 1DE

These financial statements were authorised for issue by the director on 6 October 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are presented in sterling which is the functional currency of the company.

Summary of disclosure exemptions

The accounts do not include a cash flow statement because the company, as a small reporting entity, is exempt from the requirements to prepare such a statement.

 

21 Living Altrincham Limited

Notes to the Unaudited Financial Statements for the Period from 18 October 2021 to 31 October 2022

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for rents receivable and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the director. The director uses observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for rents received or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

21 Living Altrincham Limited

Notes to the Unaudited Financial Statements for the Period from 18 October 2021 to 31 October 2022

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 0.

4

Investment properties

2022
£

Additions

526,362

Fair value adjustments

873,638

At 31 October

1,400,000

 

21 Living Altrincham Limited

Notes to the Unaudited Financial Statements for the Period from 18 October 2021 to 31 October 2022

At the year end the director has valued investment properties held by the company at £1,400,000. The valuation is based on market values of similar properties in the surrounding area.

If the investment properties had been accounted for under the historic cost accounting rules, the value would be £526,362.

There has been no valuation of investment property by an independent valuer.

5

Debtors

Current

2022
£

Other debtors

6,837

6

Creditors

2022
£

Due within one year

Accruals and deferred income

1,313

Other creditors

84,812

86,125

2022
£

Due after one year

 

Loans and borrowings

474,254

Included within loans and borrowings greater than one year is £474,254.This relates to commercial loans which are secured by way of a fixed and floating charge and negative pledge over the assets to which they relate.

 

21 Living Altrincham Limited

Notes to the Unaudited Financial Statements for the Period from 18 October 2021 to 31 October 2022

7

Share capital

Allotted, called up and fully paid shares

 

2022

 

No.

£

Ordinary A of £1 each

4

4

Ordinary B of £1 each

1

1

 

5

5

8

Parent and ultimate parent undertaking

The company's immediate parent is The 21 Investment Group Limited, incorporated in England and Wales.