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REGISTERED NUMBER: 02396814 (England and Wales)









ALEX PROPERTY DEVELOPMENT LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023






ALEX PROPERTY DEVELOPMENT LTD (REGISTERED NUMBER: 02396814)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ALEX PROPERTY DEVELOPMENT LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2023







DIRECTOR: H L Priestley





REGISTERED OFFICE: Pavilion View
19 New Road
Brighton
East Sussex
BN1 1EY





REGISTERED NUMBER: 02396814 (England and Wales)





ACCOUNTANTS: Hartley Fowler LLP
Chartered Accountants
Pavilion View
19 New Road
Brighton
East Sussex
BN1 1EY

ALEX PROPERTY DEVELOPMENT LTD (REGISTERED NUMBER: 02396814)

BALANCE SHEET
30 JUNE 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,195 2,351
Investments 5 15,000 15,000
16,195 17,351

CURRENT ASSETS
Stocks 4,273,421 3,168,395
Debtors: amounts falling due within one year 6 23,489 30,226
Debtors: amounts falling due after more than
one year

6

20,170

-
Cash at bank 184,433 594,870
4,501,513 3,793,491
CREDITORS
Amounts falling due within one year 7 644,589 13,300
NET CURRENT ASSETS 3,856,924 3,780,191
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,873,119

3,797,542

PROVISIONS FOR LIABILITIES 9 274,133 274,849
NET ASSETS 3,598,986 3,522,693

CAPITAL AND RESERVES
Called up share capital 10 10,000 10,000
Share premium 524,787 524,787
Retained earnings 3,064,199 2,987,906
SHAREHOLDERS' FUNDS 3,598,986 3,522,693

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

ALEX PROPERTY DEVELOPMENT LTD (REGISTERED NUMBER: 02396814)

BALANCE SHEET - continued
30 JUNE 2023


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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 12 February 2024 and were signed by:





H L Priestley - Director


ALEX PROPERTY DEVELOPMENT LTD (REGISTERED NUMBER: 02396814)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023


1. STATUTORY INFORMATION

Alex Property Development Ltd is a private company, limited by shares, incorporated in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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
Revenue is measured at the fair value of the consideration received or receivable. Revenue represents amounts received from the sale of property and the granting of lease extensions and is recognised when legal title is passed.

Other income from rents receivable is recognised for the period that the rent covers.

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 cost
Office equipment - 25% on cost

Stocks
Stock is valued at the lower of deemed cost and estimated selling price less costs to complete and sell.

Investments
Unlisted investments recognised and stated at cost less impairments.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 year 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

ALEX PROPERTY DEVELOPMENT LTD (REGISTERED NUMBER: 02396814)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


2. ACCOUNTING POLICIES - continued

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivables or payables within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Office
fittings equipment Totals
£    £    £   
COST
At 1 July 2022
and 30 June 2023 11,142 10,774 21,916
DEPRECIATION
At 1 July 2022 11,142 8,423 19,565
Charge for year - 1,156 1,156
At 30 June 2023 11,142 9,579 20,721
NET BOOK VALUE
At 30 June 2023 - 1,195 1,195
At 30 June 2022 - 2,351 2,351

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 July 2022
and 30 June 2023 15,000
NET BOOK VALUE
At 30 June 2023 15,000
At 30 June 2022 15,000

ALEX PROPERTY DEVELOPMENT LTD (REGISTERED NUMBER: 02396814)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


6. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 1,317 -
Other debtors 22,172 30,226
23,489 30,226

Amounts falling due after more than one year:
Other debtors 20,170 -

Aggregate amounts 43,659 30,226

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 13,208 2,700
Taxation and social security 34,025 1,308
Other creditors 597,356 9,292
644,589 13,300

8. SECURED DEBTS

Included within Other Creditors is an outstanding loan of £589,981 secured by the lender via fixed and floating charges across all of the company's property and other assets.

9. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 274,133 274,849

Deferred
tax
£   
Balance at 1 July 2022 274,849
Credit to Income Statement during year (716 )
Balance at 30 June 2023 274,133

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
10,000 Ordinary £1 10,000 10,000