Company registration number 13925681 (England and Wales)
ALKAR HOLDINGS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023
PAGES FOR FILING WITH REGISTRAR
ALKAR HOLDINGS LIMITED
CONTENTS
Page
Statement of financial position
1
Notes to the financial statements
2 - 6
ALKAR HOLDINGS LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
31 MARCH 2023
31 March 2023
- 1 -
2023
Notes
£
£
Non-current assets
Intangible assets
4
10,000
Investment properties
5
2,800,000
Investments
6
20,100
2,830,100
Current assets
Trade and other receivables
7
1,239,279
Cash and cash equivalents
1,844,291
3,083,570
Current liabilities
8
(70,360)
Net current assets
3,013,210
Net assets
5,843,310
Equity
Called up share capital
9
9,369,750
Retained earnings
(3,526,440)
Total equity
5,843,310

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

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

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 16 November 2023 and are signed on its behalf by:
A J Linton
Director
Company Registration No. 13925681
ALKAR HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2023
- 2 -
1
Accounting policies
Company information

Alkar Holdings Limited is a private company limited by shares incorporated in England and Wales. The registered office is 4 Lonsdale Road, London, NW6 6RD.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Revenue

Turnover comprises rental income. Rental income is recognised as revenue on a straight line basis over the term of the lease.

1.3
Intangible fixed assets other than goodwill

Intangible fixed assets comprises cryptocurrency. Cryptocurrency is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently, they are measured at cost value less any impairment. Impairment losses are recognised in profit or loss.

1.4
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

1.5
Non-current investments

Interests in subsidiaries, are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include deposits held at call with banks.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

ALKAR HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 3 -
Basic financial assets

Basic financial assets, which include trade and other receivables and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including trade and other payables, are loans from fellow group companies.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Financial liabilities classified as payable within one year are not amortised.

 

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
Taxation

The tax expense represents the sum of the tax currently payable.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

1.10

Group accounts

The financial statements present information about the company as an individual undertaking and not about its group. The company and its subsidiary undertaking comprise a small-sized group. The company has therefore taken advantage of the exemptions provided by section 399 of the Companies Act 2006 not to prepare group accounts.

2
Employees

There were no persons employed by the company during the period.

3
Other gains and losses
2023
£
Loss on disposal of subsidiary
(18,738,000)
ALKAR HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2023
- 4 -
4
Intangible fixed assets
Cryptocurrency
£
Cost
Additions
10,000
At 31 March 2023
10,000
Carrying amount
At 31 March 2023
10,000
5
Investment property
2023
£
Fair value
Additions
2,800,000
At 31 March 2023
2,800,000

The fair value of the investment properties has been arrived at on the basis of a valuation carried out at 31 March 2023 by the directors. The historical cost is £2,800,000.

6
Fixed asset investments
2023
£
Shares in subsidiaries
100
Other investments other than loans
20,000
20,100
Movements in non-current investments
Shares in subsidiaries
Other investments
Total
£
£
£
Cost or valuation
Additions
18,738,100
20,000
18,758,100
Disposals
(18,738,000)
-
(18,738,000)
At 31 March 2023
100
20,000
20,100
Carrying amount
At 31 March 2023
100
20,000
20,100
ALKAR HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2023
- 5 -
7
Trade and other receivables
2023
Amounts falling due within one year:
£
Trade receivables
22,642
Amounts owed by group undertakings
570,013
Other receivables
646,624
1,239,279
8
Current liabilities
2023
£
Corporation tax
546
Other taxation and social security
1,098
Other payables
68,716
70,360
9
Called up share capital
2023
2023
Ordinary share capital
Number
£
Issued and fully paid
Ordinary share capital (N shares) of £1 each
9,369,750
9,369,750

On incorporation the company issued 1,500 ordinary shares of £1 each.

 

On 22 August 2022, the company issued an additional 18,738,000 ordinary shares of £1 each in consideration for acquiring the entire ordinary shares in Linton Family (Holdings) Ltd ('LFH'), formerly named Norman Linton (Holdings) Ltd. As a result, LFH became a wholly owned subsidiary of the company.

 

On 20 March 2023, the shares were split into 9,369,750 J ordinary shares of £1 each and 9,369,750 N ordinary shares of £1 each.

 

Subsequently, the 9,369,750 J ordinary shares of £1 each were cancelled in connection with a capital reduction demerger.

10
Related party transactions

The company has taken advantage of the exemption in FRS 102 Section 33 - Related Party Disclosures, from the requirement to disclose transactions with wholly owned companies within the same group.

ALKAR HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2023
- 6 -
11
Demerger

The company was formed in connection with the restructure of a private group of companies under the control of two families, to enable the families to operate independently of each other.

 

To that end, on 20 March 2023, the company undertook a capital reduction demerger involving its wholly owned subsidiary LFH. Prior to the demerger the company’s issued share capital was split into J and N shares.

 

On 20 March 2023, LFH was transferred from the group to a company not part of the group by the cancellation of the J shares under section 42 of the Companies Act 2006. The cancellation of the J shares reduced share capital by £9,369,750.

 

The demerger has been accounted for within the company's profit and loss account.

2023-03-312022-02-18false17 November 2023CCH SoftwareCCH Accounts Production 2023.300No description of principal activityA J LintonK P L SkinnerN J G LintonS N L EgertonG M LintonJ D Lintonfalse0139256812022-02-182023-03-31139256812023-03-3113925681core:CurrentFinancialInstrumentscore:WithinOneYear2023-03-3113925681core:CurrentFinancialInstruments2023-03-3113925681core:ShareCapital2023-03-3113925681core:RetainedEarningsAccumulatedLosses2023-03-3113925681bus:Director12022-02-182023-03-3113925681core:IntangibleAssetsOtherThanGoodwill2022-02-182023-03-3113925681core:Non-currentFinancialInstruments2023-03-3113925681core:WithinOneYear2023-03-3113925681bus:PrivateLimitedCompanyLtd2022-02-182023-03-3113925681bus:SmallCompaniesRegimeForAccounts2022-02-182023-03-3113925681bus:FRS1022022-02-182023-03-3113925681bus:AuditExemptWithAccountantsReport2022-02-182023-03-3113925681bus:Director22022-02-182023-03-3113925681bus:Director32022-02-182023-03-3113925681bus:Director42022-02-182023-03-3113925681bus:Director52022-02-182023-03-3113925681bus:Director62022-02-182023-03-3113925681bus:FullAccounts2022-02-182023-03-31xbrli:purexbrli:sharesiso4217:GBP