IRIS Accounts Production v23.3.0.418 SC178598 Board of Directors 1.4.22 31.3.23 31.3.23 0 0 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureSC1785982022-03-31SC1785982023-03-31SC1785982022-04-012023-03-31SC1785982021-03-31SC1785982021-04-012022-03-31SC1785982022-03-31SC178598ns16:Scotland2022-04-012023-03-31SC178598ns15:PoundSterling2022-04-012023-03-31SC178598ns11:Director12022-04-012023-03-31SC178598ns11:PrivateLimitedCompanyLtd2022-04-012023-03-31SC178598ns11:SmallEntities2022-04-012023-03-31SC178598ns11:AuditExempt-NoAccountantsReport2022-04-012023-03-31SC178598ns11:SmallCompaniesRegimeForDirectorsReport2022-04-012023-03-31SC178598ns11:SmallCompaniesRegimeForAccounts2022-04-012023-03-31SC178598ns11:FullAccounts2022-04-012023-03-31SC178598ns11:Director22022-04-012023-03-31SC178598ns11:RegisteredOffice2022-04-012023-03-31SC178598ns6:CurrentFinancialInstruments2023-03-31SC178598ns6:CurrentFinancialInstruments2022-03-31SC178598ns6:Non-currentFinancialInstruments2023-03-31SC178598ns6:Non-currentFinancialInstruments2022-03-31SC178598ns6:ShareCapital2023-03-31SC178598ns6:ShareCapital2022-03-31SC178598ns6:RevaluationReserve2023-03-31SC178598ns6:RevaluationReserve2022-03-31SC178598ns6:RetainedEarningsAccumulatedLosses2023-03-31SC178598ns6:RetainedEarningsAccumulatedLosses2022-03-31SC178598ns6:PlantMachinery2022-04-012023-03-31SC178598ns6:ComputerEquipment2022-04-012023-03-31SC178598ns6:PlantMachinery2022-03-31SC178598ns6:MotorVehicles2022-03-31SC178598ns6:ComputerEquipment2022-03-31SC178598ns6:MotorVehicles2022-04-012023-03-31SC178598ns6:PlantMachinery2023-03-31SC178598ns6:MotorVehicles2023-03-31SC178598ns6:ComputerEquipment2023-03-31SC178598ns6:PlantMachinery2022-03-31SC178598ns6:MotorVehicles2022-03-31SC178598ns6:ComputerEquipment2022-03-31SC178598ns6:MotorVehiclesns6:LeasedAssetsHeldAsLessee2022-04-012023-03-31SC178598ns6:MotorVehiclesns6:LeasedAssetsHeldAsLessee2023-03-31SC178598ns6:WithinOneYearns6:CurrentFinancialInstruments2023-03-31SC178598ns6:WithinOneYearns6:CurrentFinancialInstruments2022-03-31SC178598ns6:BetweenOneTwoYearsns6:Non-currentFinancialInstruments2023-03-31SC178598ns6:BetweenOneTwoYearsns6:Non-currentFinancialInstruments2022-03-31SC178598ns6:BetweenTwoFiveYearsns6:Non-currentFinancialInstruments2023-03-31SC178598ns6:BetweenTwoFiveYearsns6:Non-currentFinancialInstruments2022-03-31SC178598ns6:RetainedEarningsAccumulatedLosses2022-03-31SC178598ns6:RevaluationReserve2022-03-31SC178598ns6:RetainedEarningsAccumulatedLosses2022-04-012023-03-31
REGISTERED NUMBER: SC178598 (Scotland)















Financial Statements for the Year Ended 31 March 2023

for

Altens Lorry Park Development Limited

Altens Lorry Park Development Limited (Registered number: SC178598)






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


Altens Lorry Park Development Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: E A Dunbar
Mrs N J Dunbar





REGISTERED OFFICE: Units 1 & 2, Altens Lorry Park
Hareness Road
Altens
Aberdeen
AB12 3LE





REGISTERED NUMBER: SC178598 (Scotland)





ACCOUNTANTS: J M Taylor Accountants Limited
5 Rubislaw Terrace
Aberdeen
AB10 1XE

Altens Lorry Park Development Limited (Registered number: SC178598)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 186,219 1,907
Investments 5 460 15,710
Investment property 6 6,665,000 6,665,000
6,851,679 6,682,617

CURRENT ASSETS
Debtors 7 243,365 117,783
Cash at bank 157,587 128,923
400,952 246,706
CREDITORS
Amounts falling due within one year 8 913,262 571,715
NET CURRENT LIABILITIES (512,310 ) (325,009 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,339,369

6,357,608

CREDITORS
Amounts falling due after more than one
year

9

(2,178,891

)

(1,964,494

)

PROVISIONS FOR LIABILITIES (985,198 ) (732,109 )
NET ASSETS 3,175,280 3,661,005

CAPITAL AND RESERVES
Called up share capital 80 80
Revaluation reserve 11 3,857,107 3,857,107
Retained earnings 11 (681,907 ) (196,182 )
SHAREHOLDERS' FUNDS 3,175,280 3,661,005

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.

Altens Lorry Park Development Limited (Registered number: SC178598)

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 October 2023 and were signed on its behalf by:





E A Dunbar - Director


Altens Lorry Park Development Limited (Registered number: SC178598)

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

1. STATUTORY INFORMATION

Altens Lorry Park Development Limited is a private company, limited by shares , registered in Scotland. 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.

Turnover
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on cost
Computer equipment - 25% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments
Financial Instruments at valued at fair value at the year end.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Altens Lorry Park Development Limited (Registered number: SC178598)

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

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Going concern
The directors, having made due and careful enquiry, are of the opinion that the company has adequate working capital to execute its operations over 12 months. The directors, therefore, have made an informed judgement, at the time of approving these financial statements, that there is a reasonable expectation that the company has adequate resources to continue to adopt the going concern basis of accounting in preparing the annual financial statements.

3. EMPLOYEES AND DIRECTORS

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

4. PROPERTY, PLANT AND EQUIPMENT
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2022 19,228 - 14,631 33,859
Additions 10,857 262,522 - 273,379
Disposals - (80,196 ) - (80,196 )
At 31 March 2023 30,085 182,326 14,631 227,042
DEPRECIATION
At 1 April 2022 19,228 - 12,724 31,952
Charge for year 362 9,259 587 10,208
Eliminated on disposal - (1,337 ) - (1,337 )
At 31 March 2023 19,590 7,922 13,311 40,823
NET BOOK VALUE
At 31 March 2023 10,495 174,404 1,320 186,219
At 31 March 2022 - - 1,907 1,907

Altens Lorry Park Development Limited (Registered number: SC178598)

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

4. PROPERTY, PLANT AND EQUIPMENT - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
Additions 262,522
Disposals (80,196 )
At 31 March 2023 182,326
DEPRECIATION
Charge for year 9,259
Eliminated on disposal (1,337 )
At 31 March 2023 7,922
NET BOOK VALUE
At 31 March 2023 174,404

5. FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:
31.3.23 31.3.22
£    £   
F A Investment Cost/valuation 15,710 43,183
F A Investment Additions 194,000 273,000
FA Investment Disposal (209,250 ) (300,473 )
460 15,710

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022
and 31 March 2023 6,665,000
NET BOOK VALUE
At 31 March 2023 6,665,000
At 31 March 2022 6,665,000

Fair value at 31 March 2023 is represented by:
£   
Valuation in 2017 2,725,488
Valuation in 2018 600,000
Valuation in 2019 125,355
Valuation in 2020 (258,736 )
Valuation in 2021 665,000
Cost 2,807,893
6,665,000

Altens Lorry Park Development Limited (Registered number: SC178598)

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

6. INVESTMENT PROPERTY - continued

Investment property was valued on an open market basis on 31 March 2023 by the directors .

The property has been used as security on a loan taken out by Altens Development Company Limited, the owner of Altens Lorry Park Development Limited.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 25,600 84,708
Other Debtor 49,728 26,250
VAT 3,965 -
Prepayments and accrued income 164,072 6,825
243,365 117,783

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts 9,800 9,800
Hire purchase contracts 28,267 -
Trade creditors 579,454 17,619
Taxation 80,718 161,073
Social security and other taxes 763 1,259
VAT - 114,426
Other creditors 14,000 14,000
Directors' current accounts 158,630 160,460
Accruals and deferred income 41,630 93,078
913,262 571,715

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Bank loans - 1-2 years 9,800 9,800
Bank loans - 2-5 years 11,728 21,458
Hire purchase contracts 129,744 -
Amount owed to related parties 2,027,619 1,933,236
2,178,891 1,964,494

10. FINANCIAL INSTRUMENTS

The fair value of the CFD's at 31st March 2023 was £460.24.

Altens Lorry Park Development Limited (Registered number: SC178598)

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

11. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 April 2022 (196,182 ) 3,857,107 3,660,925
Deficit for the year (485,725 ) (485,725 )
At 31 March 2023 (681,907 ) 3,857,107 3,175,200

12. RELATED PARTY DISCLOSURES

During the current and previous year, the company was controlled by the directors.