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Registration number: 00814415

Aldo Investments Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2023

image-name
 

Aldo Investments Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Aldo Investments Limited

Company Information

Directors

Mrs Angela Rebecca Davis

Mr Joseph Alexander Davis

Registered office

36 Hove Park Way
Hove
East Sussex
BN3 6PW

Accountants

Lucraft Hodgson & Dawes LLP
Ground Floor
19 New Road
Brighton
East Sussex
BN1 1UF

 

Aldo Investments Limited

(Registration number: 00814415)
Balance Sheet as at 31 March 2023

Note

2023
 £

2022
 £

Fixed Assets

 

Investment property

4

290,400

290,400

Current assets

 

Debtors

5

1,390

9,769

Cash at bank and in hand

 

136,107

133,822

 

137,497

143,591

Creditors: Amounts falling due within one year

6

(2,813)

(1,930)

Net current assets

 

134,684

141,661

Total assets less current liabilities

 

425,084

432,061

Provisions for liabilities

(46,337)

(35,216)

Net assets

 

378,747

396,845

Capital and Reserves

 

Called up share capital

100

100

Fair value reserve

238,255

249,376

Profit and loss account

140,392

147,369

Total equity

 

378,747

396,845

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

Directors' responsibilities:

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

The directors acknowledge their 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.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 1 November 2023 and signed on its behalf by:
 

 

Aldo Investments Limited

(Registration number: 00814415)
Balance Sheet as at 31 March 2023

.........................................
Mr Joseph Alexander Davis
Director

   
     
 

Aldo Investments Limited

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

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:
36 Hove Park Way
Hove
East Sussex
BN3 6PW

These financial statements were authorised for issue by the Board on 1 November 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.

Revenue recognition

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 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.

 

Aldo Investments Limited

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

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 external valuers. The valuers use 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 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.

 

Aldo Investments Limited

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

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Aldo Investments Limited

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

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, analysed by category was as follows:

2023
 No.

2022
 No.

Administration and support

2

2

2

2

4

Investment properties

2023
 £

At 1 April

290,400

The investment properties were valued on an open market basis on 31 March 2023 by J Davis FRICS, a director of the company.

 

5

Debtors

Current

2023
£

2022
£

Other debtors

1,390

9,769

6

Creditors

Creditors: amounts falling due within one year

Note

2023
 £

2022
 £

Due within one year

 

Trade Creditors

 

1,068

-

Accrued expenses

 

1,745

1,020

Corporation tax liability

-

910

 

2,813

1,930

 

Aldo Investments Limited

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

7

Related party transactions

Loans to related parties

2023

Key management
£

Other related parties
£

At start of period

1,364

8,404

Repaid

(228)

(8,150)

At end of period

1,136

254

2022

Key management
£

Other related parties
£

Total
£

At start of period

-

6,384

6,384

Advanced

1,364

-

1,364

Repaid

-

2,020

2,020

At end of period

1,364

8,404

9,768

 

Key management

Other related parties

2023
£

2022
£

2023
£

2022
£

At start of period

1,364

-

8,404

6,384

Advanced

-

1,364

-

-

Repaid

(228)

-

(8,150)

2,020

At end of period

1,136

1,364

254

8,404

Terms of loans to related parties

During the year the company advanced funds to the directors which were interest free, unsecured and repayable on demand.


 The company advanced funds to Merchant and General Estates Limited in which Joseph Davis and Angela Davis, directors and shareholders of Aldo Investments Limited, are also directors and shareholders and between them own 100% of the issued shares in each. This loan is interest-free, unsecured and repayable on demand.

 

Aldo Investments Limited

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

Loans from related parties

2022

Key management
£

Total
£

At start of period

5,328

5,328

Repaid

(5,328)

(5,328)

At end of period

-

-

 

Key management

2022
£

At start of period

5,328

Repaid

(5,328)

At end of period

-

Terms of loans from related parties

During the year the directors advanced funds to the company which were interest free, unsecured and repayable on demand.