Alterity Developments Limited 02187461 false 2022-04-01 2023-03-31 2023-03-31 The principal activity of the company is that of property development and sale of development land Digita Accounts Production Advanced 6.30.9574.0 true false true 02187461 2022-04-01 2023-03-31 02187461 2023-03-31 02187461 bus:OrdinaryShareClass1 2023-03-31 02187461 core:CurrentFinancialInstruments 2023-03-31 02187461 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 02187461 core:MotorVehicles 2023-03-31 02187461 core:OtherPropertyPlantEquipment 2023-03-31 02187461 bus:SmallEntities 2022-04-01 2023-03-31 02187461 bus:Audited 2022-04-01 2023-03-31 02187461 bus:FullAccounts 2022-04-01 2023-03-31 02187461 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2023-03-31 02187461 bus:RegisteredOffice 2022-04-01 2023-03-31 02187461 bus:Director1 2022-04-01 2023-03-31 02187461 bus:Director4 2022-04-01 2023-03-31 02187461 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 02187461 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 02187461 core:MotorVehicles 2022-04-01 2023-03-31 02187461 core:OtherPropertyPlantEquipment 2022-04-01 2023-03-31 02187461 core:PlantMachinery 2022-04-01 2023-03-31 02187461 1 2022-04-01 2023-03-31 02187461 countries:England 2022-04-01 2023-03-31 02187461 2022-03-31 02187461 core:MotorVehicles 2022-03-31 02187461 core:OtherPropertyPlantEquipment 2022-03-31 02187461 2021-04-01 2022-03-31 02187461 2022-03-31 02187461 bus:OrdinaryShareClass1 2022-03-31 02187461 core:CurrentFinancialInstruments 2022-03-31 02187461 core:CurrentFinancialInstruments core:WithinOneYear 2022-03-31 02187461 core:MotorVehicles 2022-03-31 02187461 core:OtherPropertyPlantEquipment 2022-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 02187461

Alterity Developments Limited

Filleted Financial Statements

for the Year Ended 31 March 2023

 

Alterity Developments Limited

(Registration number: 02187461)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

19,313

28,521

Current assets

 

Work in progress

5

643,750

1,888,842

Debtors

6

1,148

2,071

Cash at bank and in hand

 

13,782

5,364

 

658,680

1,896,277

Creditors: due within one year

7

(646,794)

(1,918,379)

Net current assets/(liabilities)

 

11,886

(22,102)

Total assets less current liabilities

 

31,199

6,419

Provisions for liabilities

(3,669)

(5,419)

Net assets

 

27,530

1,000

Capital and reserves

 

Called up share capital

8

100

100

Share premium reserve

900

900

Retained earnings

26,530

-

Shareholders' funds

 

27,530

1,000

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 26 June 2023 and signed on its behalf by:
 

.............................................
Mr EA Lonergan
Director

.............................................
Mr AJ Carleton
Director

 
     
 

Alterity Developments Limited

Notes to the 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.

The address of its registered office is: 3rd Floor, 1 Ashley Road, Altrincham, Cheshire, WA14 2DT.

These financial statements were authorised for issue by the Board on 26 June 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.

Going concern

The financial statements have been prepared on a going concern basis.

Audit report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 26 June 2023 was Peter Stevenson, who signed for and on behalf of Stevenson and Wilson.

Revenue recognition

Turnover represents sales of development properties and land during the year and any other sundry income.

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.

Deferred tax is accounted for on all differences arising from the inclusion of items of income and expenditure in taxation computations in periods different from those in which they are included in the financial statements.

 

Alterity Developments Limited

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

Tangible 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

Fixed assets are depreciated at rates calculated to reduce them to residual value at the end of their expected normal lives on a straight line basis as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% per year

Motor vehicles

25% per year

Work in progress

Property held is valued at the lower of cost or net realisable value. Net realisable value is calculated as expected sales value less additional costs to completion.

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.

Short-term debtors and creditors

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Financial assets, including debtors, are reviewed at the reporting date to determine if there is any evidence of potential impairment. Any losses arising from impairment are
recognised in the income statement in operating expenses.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2022 - 3).

 

Alterity Developments Limited

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

4

Tangible assets

Motor vehicles
 £

Plant and machinery
£

Total
£

Cost or valuation

At 1 April 2022

30,900

11,132

42,032

At 31 March 2023

30,900

11,132

42,032

Depreciation

At 1 April 2022

3,862

9,649

13,511

Charge for the year

7,725

1,483

9,208

At 31 March 2023

11,587

11,132

22,719

Carrying amount

At 31 March 2023

19,313

-

19,313

At 31 March 2022

27,038

1,483

28,521

5

Work in progress

2023
£

2022
£

Work in progress

643,750

1,888,842

The Company has conducted a review of the net realisable value of all of its land, work in progress and development sites. This review compared the estimated net realisable value of the development sites in the normal course of business with their balance sheet carrying value. Where necessary a provision for diminution in value was brought in to reduce the balance sheet carrying value from cost to net realisable value.

6

Debtors

2023
£

2022
£

Other debtors

1,148

2,071

 

Alterity Developments Limited

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

7

Creditors: due within one year

2023
£

2022
£

Trade creditors

52

5,330

Due to parent company

618,523

1,888,699

Accruals

21,600

24,350

Other creditors

6,619

-

646,794

1,918,379

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

         

9

Capital Commitments

The Company had no capital commitments at the balance sheet date (2022: None).

10

Related party transactions

Amounts due to group companies are disclosed in note 7 above.

During the year the following transactions occurred between the company and its parent company:
 

2023
 £

2022
 £

Release of group inter-company debt

-

15,039

11

Parent and ultimate parent undertaking

The ultimate controlling party is Mr. E.A. Lonergan.