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REGISTERED NUMBER: SC504873 (Scotland)















Financial Statements for the Year Ended 31 March 2023

for

Altens Development Company Limited

Altens Development Company Limited (Registered number: SC504873)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Altens Development Company Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: E A Dunbar
Mrs N J Dunbar





REGISTERED OFFICE: Altens Lorry Park
Hareness Road
Aberdeen
AB12 3LE





REGISTERED NUMBER: SC504873 (Scotland)





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

Altens Development Company Limited (Registered number: SC504873)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Investments 4 1,070,025 1,070,025

CURRENT ASSETS
Debtors 5 2,055,336 1,958,088

CREDITORS
Amounts falling due within one year 6 230,801 217,012
NET CURRENT ASSETS 1,824,535 1,741,076
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,894,560

2,811,101

CREDITORS
Amounts falling due after more than one
year

7

2,892,315

2,797,150
NET ASSETS 2,245 13,951

CAPITAL AND RESERVES
Called up share capital 9 2 2
Retained earnings 2,243 13,949
SHAREHOLDERS' FUNDS 2,245 13,951

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.

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 Development Company Limited (Registered number: SC504873)

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

1. STATUTORY INFORMATION

Altens Development Company 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.

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 to UK and the Republic of Ireland and the Companies Act 2006.

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

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

3. EMPLOYEES AND DIRECTORS

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

4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 April 2022
and 31 March 2023 1,070,025
NET BOOK VALUE
At 31 March 2023 1,070,025
At 31 March 2022 1,070,025

5. DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Amounts owed by group undertakings 2,055,336 1,958,088

Altens Development Company Limited (Registered number: SC504873)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts 9,710 10
Taxation 28,090 33,709
Bank loans 192,001 182,493
Accrued expenses 1,000 800
230,801 217,012

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Bank loans - 1-2 years 9,700 -
Bank loans - 2-5 years 12,964 -
Bank loans 2,696,535 2,581,968
Directors' loan accounts 173,116 215,182
2,892,315 2,797,150

8. SECURED DEBTS

The following secured debts are included within creditors:

31.3.23 31.3.22
£    £   
Bank loan 2,888,535 2,573,700

The bank loan is secured by means of a fixed and floating charge on property owned by Altens Lorry Park Development Limited.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.23 31.3.22
value: £    £   
2 Ordinary 1 2 2

10. RELATED PARTY DISCLOSURES

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.

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr E Dunbar and Mrs N Dunbar with 50/50 share split.