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Registration number: 09701984

Altojosa Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2023

 

Altojosa Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 5

 

Altojosa Limited

(Registration number: 09701984)
Balance Sheet as at 31 March 2023

Note

2023

2022

   

£

£

£

£

Fixed assets

   

 

Investments

4

 

320,000

 

320,000

Current assets

   

 

Debtors

5

3,968,024

 

3,963,428

 

Cash at bank and in hand

 

160,599

 

980,645

 

 

4,128,623

 

4,944,073

 

Creditors: Amounts falling due within one year

6

(4,392,216)

 

(5,103,264)

 

Net current liabilities

   

(263,593)

 

(159,191)

Net assets

   

56,407

 

160,809

Capital and reserves

   

 

Called up share capital

7

100

 

100

 

Profit and loss account

56,307

 

160,709

 

Total equity

   

56,407

 

160,809

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 2 October 2023 and signed on its behalf by:
 

.........................................
G A Walker
Director

 

Altojosa 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 & Wales.

The address of its registered office is:
York House
Cottingley Business Park
Bradford
West Yorkshire
BD16 1PE

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 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' including the disclosure and presentation requirements of Section 1A and the Companies Act 2006.

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 company's functional and presentation currency is pound sterling.

Summary of disclosure exemptions

The company has taken advantage of the exemption under Section 1AC.35 from disclosing transactions and balances with fellow group undertakings that are wholly owned.

Tax

The tax expense for the period comprises current 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 corporation 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.

Fixed asset investments

Fixed asset investments are stated at historical cost plus share of profits / (losses) to date less provision for any diminution in value.

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.

 

Altojosa Limited

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

Financial instruments


Financial assets

Basic financial assets, including trade and other receivables, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest for a similar asset. Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss and any subsequent reversal is recognised in profit or loss.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities

Basic financial liabilities, including trade and other payables, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year was 2 (2022 - 2).

 

Altojosa Limited

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

4

Investments

2023
£

2022
£

Investments in subsidiaries

320,000

320,000

Subsidiaries

£

Cost or valuation

At 31 March 2023

402,826

Provision

At 1 April 2022

82,826

At 31 March 2023

82,826

Carrying amount

At 31 March 2023

320,000

At 31 March 2022

320,000

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

     

2023

2022

WHR The Seasons LLP

Mount Manor House, 16 The Mount, Guildford, Surrey, GU2 4HN

Member

33.18%

33.18%

5

Debtors

2023
£

2022
£

Other debtors

3,966,350

3,701,350

Prepayments

1,674

262,078

3,968,024

3,963,428

 

Altojosa Limited

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

6

Creditors

2023
£

2022
£

Due within one year

Amounts owed to group undertakings

1,693,530

2,669,102

Taxation and social security

-

3,954

Accruals and deferred income

37,413

4,708

Other creditors

2,661,273

2,425,500

4,392,216

5,103,264

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

         

8

Parent and ultimate parent undertaking

The company's ultimate parent undertaking and ultimate controlling party is Hector, Lamont, Florence Associates Limited, incorporated in England & Wales. The registered address of Hector, Lamont, Florence Associates Limited is York House, Cottingley Business Park, Bradford, BD16 1PE.