REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 14 MARCH 2023 |
FOR |
ALCHEMY PROPERTY SOLUTIONS LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 14 MARCH 2023 |
FOR |
ALCHEMY PROPERTY SOLUTIONS LIMITED |
ALCHEMY PROPERTY SOLUTIONS LIMITED (REGISTERED NUMBER: 08691915) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 14 MARCH 2023 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 4 |
ALCHEMY PROPERTY SOLUTIONS LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 14 MARCH 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Business Advisers and Accountants |
Unit 2.02 High Weald House, |
Glovers End |
Bexhill |
East Sussex |
United Kingdom |
TN39 5ES |
ALCHEMY PROPERTY SOLUTIONS LIMITED (REGISTERED NUMBER: 08691915) |
STATEMENT OF FINANCIAL POSITION |
14 MARCH 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
Debtors | 5 |
Prepayments and accrued income |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
EQUITY |
Called up share capital |
Revaluation Reserve | 8 |
Retained earnings | ( |
) |
SHAREHOLDERS' FUNDS |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
ALCHEMY PROPERTY SOLUTIONS LIMITED (REGISTERED NUMBER: 08691915) |
STATEMENT OF FINANCIAL POSITION - continued |
14 MARCH 2023 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
ALCHEMY PROPERTY SOLUTIONS LIMITED (REGISTERED NUMBER: 08691915) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 14 MARCH 2023 |
1. | STATUTORY INFORMATION |
Alchemy Property Solutions Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
BASIS OF PREPARING THE FINANCIAL STATEMENTS |
INVESTMENT PROPERTY |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
FINANCIAL INSTRUMENTS |
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. |
Financial instruments are recognized in the company's balance sheet 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 recognized amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. |
Basic financial assets |
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. 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 creditors, bank loans and loans from fellow group companies that are classified as debt, are initially recognized at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payment discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. |
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. |
Trade creditors 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 creditors greater than one year are recognized initially at transaction price and subsequently measured at amortised cost using the effective interest method. |
ALCHEMY PROPERTY SOLUTIONS LIMITED (REGISTERED NUMBER: 08691915) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 14 MARCH 2023 |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2022 - NIL). |
4. | INVESTMENT PROPERTY |
Total |
£ |
Fair value |
At 15 March 2022 |
Disposals | ( |
) |
At 14 March 2023 |
Net book value |
At 14 March 2023 |
At 14 March 2022 |
Fair value at 14 March 2023 is represented by: |
£ |
Valuation in 2023 | 1,750,000 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade payables |
Taxation and social security |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Other creditors |
8. | RESERVES |
Revaluation |
Reserve |
£ |
At 15 March 2022 |
and 14 March 2023 |
ALCHEMY PROPERTY SOLUTIONS LIMITED (REGISTERED NUMBER: 08691915) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 14 MARCH 2023 |
9. | ULTIMATE CONTROLLING PARTY |
The controlling party is Mrs W L Makepeace-Browne. |