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REGISTERED NUMBER: 03586233 (England and Wales)














Unaudited Financial Statements

for the Period 1 December 2021 to 29 November 2022

for

Alega Limited

Alega Limited (Registered number: 03586233)






Contents of the Financial Statements
for the Period 1 December 2021 to 29 November 2022




Page

Balance Sheet 1

Notes to the Financial Statements 3


Alega Limited (Registered number: 03586233)

Balance Sheet
29 November 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1,061 364
Investment property 6 3,524,103 2,050,721
3,525,164 2,051,085

CURRENT ASSETS
Debtors 7 1,229 985
Cash at bank 39,690 24,367
40,919 25,352
CREDITORS
Amounts falling due within one year 8 210,119 194,280
NET CURRENT LIABILITIES (169,200 ) (168,928 )
TOTAL ASSETS LESS CURRENT LIABILITIES 3,355,964 1,882,157

CREDITORS
Amounts falling due after more than one year 9 (363,720 ) (213,810 )

PROVISIONS FOR LIABILITIES (263,044 ) (266,768 )
NET ASSETS 2,729,200 1,401,579

CAPITAL AND RESERVES
Called up share capital 192 100
Share premium 1,293,041 -
Revaluation reserve 11 1,142,309 1,142,309
Retained earnings 293,658 259,170
SHAREHOLDERS' FUNDS 2,729,200 1,401,579

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 29 November 2022.

The members have not required the company to obtain an audit of its financial statements for the period ended 29 November 2022 in accordance with Section 476 of the Companies Act 2006.

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.

Alega Limited (Registered number: 03586233)

Balance Sheet - continued
29 November 2022


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

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 November 2023 and were signed on its behalf by:





A Lycett - Director


Alega Limited (Registered number: 03586233)

Notes to the Financial Statements
for the Period 1 December 2021 to 29 November 2022

1. STATUTORY INFORMATION

Alega Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 03586233

Registered office: Ebenezer House
Ryecroft
Newcastle-under-Lyme
Staffordshire
ST5 2BE

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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 provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents rental income received.
Revenue is recognised as the company becomes entitled to consideration for the services supplied.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 1999, has been fully amortised.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Computer equipment - 33% on reducing balance

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.

Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Alega Limited (Registered number: 03586233)

Notes to the Financial Statements - continued
for the Period 1 December 2021 to 29 November 2022

2. ACCOUNTING POLICIES - continued

Employee succession trust
In accordance with UITF abstract 32 'Employee Benefit Trusts and other intermediate payment arrangements' the Company does not include the assets and liabilities of the Trust on its balance sheet to the extent that it considers that it will not retain any economic benefit from the assets of the Trust and will not have control of the rights or other access to those present economic benefits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 3 (2021 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 December 2021
and 29 November 2022 13,600
AMORTISATION
At 1 December 2021
and 29 November 2022 13,600
NET BOOK VALUE
At 29 November 2022 -
At 30 November 2021 -

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 December 2021 - 1,146 1,146
Additions 1,089 - 1,089
At 29 November 2022 1,089 1,146 2,235
DEPRECIATION
At 1 December 2021 - 782 782
Charge for period 272 120 392
At 29 November 2022 272 902 1,174
NET BOOK VALUE
At 29 November 2022 817 244 1,061
At 30 November 2021 - 364 364

Alega Limited (Registered number: 03586233)

Notes to the Financial Statements - continued
for the Period 1 December 2021 to 29 November 2022

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 December 2021 2,050,721
Additions 1,473,382
At 29 November 2022 3,524,103
NET BOOK VALUE
At 29 November 2022 3,524,103
At 30 November 2021 2,050,721

Investment property was valued on a fair value basis on 29 November 2022 by the directors.

Fair value at 29 November 2022 is represented by:
£   
Valuation in 2018 1,889,271
Valuation in 2023 (479,902 )
Cost 2,114,734
3,524,103

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Other debtors 1,229 985

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts 34,254 20,193
Trade creditors 2,700 6,529
Taxation and social security 14,769 2,756
Other creditors 158,396 164,802
210,119 194,280

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2022 2021
£    £   
Bank loans 363,720 213,810

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more than 1 year 363,720 206,162

Alega Limited (Registered number: 03586233)

Notes to the Financial Statements - continued
for the Period 1 December 2021 to 29 November 2022

10. SECURED DEBTS

The following secured debts are included within creditors:

2022 2021
£    £   
Bank loans 397,974 234,003

The bank loan is secured by the company's assets.

11. RESERVES
Revaluation
reserve
£   
At 1 December 2021
and 29 November 2022 1,142,309