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Registered Number: 13281360
England and Wales

 

 

 


Unaudited Financial Statements

for the year ended 31 March 2023

for

ALON DEVELOPMENTS LIMITED

 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 656,203    386,856 
656,203    386,856 
Current assets      
Debtors: amounts falling due within one year 4 868    1,454 
Cash at bank and in hand 1,023    1,697 
1,891    3,151 
Creditors: amount falling due within one year (218,266)   (150,526)
Net current liabilities (216,375)   (147,375)
 
Total assets less current liabilities 439,828    239,481 
Creditors: amount falling due after more than one year 5 (443,003)   (255,028)
Net liabilities (3,175)   (15,547)
 

Capital and reserves
     
Called up share capital 1    1 
Profit and loss account (3,176)   (15,548)
Shareholder's funds (3,175)   (15,547)
 


For the year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 21 September 2023 and were signed by:


-------------------------------
Robyn Griffiths
Director
1
General Information
Alon Developments Limited is a private company, limited by shares, registered in England and Wales, registration number 13281360, registration address Ty Morfa , Aberkenfig , Bridgend, CF32 9AW.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
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.
Turnover
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the companys 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.

Tangible fixed assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.


Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Freehold property 0% straight line
Other tangibles Over 16 years, straight line basis
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments
Trade debtors
Trade debtors are amounts due from customers for merchandise sold 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.

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.
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.
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.
2.

Average number of employees

Average number of employees during the year was 1 (2022 : 1).
3.

Tangible fixed assets

Cost or valuation Land and buildings   Plant and machinery etc   Total
  £   £   £
At 01 April 2022 358,906    27,950    386,856 
Additions 243,384      243,384 
Disposals    
Revaluations 27,710      27,710 
At 31 March 2023 630,000    27,950    657,950 
Depreciation
At 01 April 2022    
Charge for year   1,747    1,747 
On disposals    
At 31 March 2023   1,747    1,747 
Net book values
Closing balance as at 31 March 2023 630,000    26,203    656,203 
Opening balance as at 01 April 2022 358,906    27,950    386,856 

Included within the net book value of land and buildings above is £630,000 (2022 £358,906) in respect of freehold land and buildings.

Revaluation
The fair value of the company's freehold property was revalued on 31 March 2023. An independent valuer was not involved.
The properties were revalued by the company directors on an open market value basis.
Had this class of asset been measured on a historical cost basis, the carrying amount would have been £602,290 (2022 £358,906).

4.

Debtors: amounts falling due within one year

2023
£
  2022
£
Trade Debtors 868    868 
Other Debtors   586 
868    1,454 

5.

Creditors: amount falling due after more than one year

2023
£
  2022
£
Bank Loans & Overdrafts (secured) 443,003    255,028 
443,003    255,028 
Creditors include interest only mortgages which are secured of £443,003 (2022 £255,028).
Creditors include interest only mortgages repayable by instalments of £443,003 (2022 £255,028) due after more than five years.

2