REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 |
FOR |
ALBION INVESTMENTS & HOLDINGS LTD |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023 |
FOR |
ALBION INVESTMENTS & HOLDINGS LTD |
ALBION INVESTMENTS & HOLDINGS LTD (REGISTERED NUMBER: 09122157) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 AUGUST 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
ALBION INVESTMENTS & HOLDINGS LTD |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 AUGUST 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
5 Dukes Close |
Alton |
Hampshire |
GU34 1PH |
ALBION INVESTMENTS & HOLDINGS LTD (REGISTERED NUMBER: 09122157) |
BALANCE SHEET |
31 AUGUST 2023 |
31.8.23 | 31.8.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
Investment property | 6 |
CURRENT ASSETS |
Debtors | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 9 | ( |
) | ( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Fair value reserve | 11 |
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. |
ALBION INVESTMENTS & HOLDINGS LTD (REGISTERED NUMBER: 09122157) |
BALANCE SHEET - continued |
31 AUGUST 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 |
ALBION INVESTMENTS & HOLDINGS LTD (REGISTERED NUMBER: 09122157) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 AUGUST 2023 |
1. | STATUTORY INFORMATION |
Albion Investments & Holdings Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Preparation of consolidated financial statements |
The financial statements contain information about Albion Investments & Holdings Ltd as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
Turnover |
Turnover represents letting income receivable from properties managed by Albion Holdings & Investments Ltd. |
Tangible fixed assets |
Plant and machinery etc | - |
Investments in subsidiaries |
Investments in shares are shown at fair value. Gains are recognised in the Income statement. |
Investment property |
Investment property is included at fair value. Gains are recognised in the Income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold. |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2022 - NIL). |
ALBION INVESTMENTS & HOLDINGS LTD (REGISTERED NUMBER: 09122157) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 AUGUST 2023 |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 September 2022 |
and 31 August 2023 |
DEPRECIATION |
Charge for year |
At 31 August 2023 |
NET BOOK VALUE |
At 31 August 2023 |
At 31 August 2022 |
5. | FIXED ASSET INVESTMENTS |
Shares in | Interest |
group | in joint |
undertakings | venture | Totals |
£ | £ | £ |
COST OR VALUATION |
At 1 September 2022 | 387,383 |
Disposals | ( |
) | (1 | ) |
Revaluations | ( |
) | ( |
) | (85,874 | ) |
At 31 August 2023 | 301,508 |
NET BOOK VALUE |
At 31 August 2023 | 301,508 |
At 31 August 2022 | 387,383 |
Cost or valuation at 31 August 2023 is represented by: |
Shares in | Interest |
group | in joint |
undertakings | venture | Totals |
£ | £ | £ |
Valuation in 2020 | 229,829 | 18,560 | 248,389 |
Valuation in 2021 | 70,000 | (243 | ) | 69,757 |
Valuation in 2022 | 76,558 | (7,595 | ) | 68,963 |
Valuation in 2023 | (75,150 | ) | (10,725 | ) | (85,875 | ) |
Cost | 271 | 3 | 274 |
301,508 | - | 301,508 |
ALBION INVESTMENTS & HOLDINGS LTD (REGISTERED NUMBER: 09122157) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 AUGUST 2023 |
5. | FIXED ASSET INVESTMENTS - continued |
If fixed asset investments had not been revalued they would have been included at the following historical cost: |
31.8.23 | 31.8.22 |
£ | £ |
Cost | 274 | 274 |
Fixed asset investments were valued on a fair value basis on 31 August 2023 by the directors of the company . |
Fair value gains and losses on the above assets are recognised in the Income Statement. |
6. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 September 2022 |
Revaluations | (25,000 | ) |
At 31 August 2023 |
NET BOOK VALUE |
At 31 August 2023 |
At 31 August 2022 |
Fair value at 31 August 2023 is represented by: |
£ |
Valuation in 2021 | 48,994 |
Valuation in 2023 | (25,000 | ) |
Cost | 401,006 |
425,000 |
If investment property had not been revalued it would have been included at the following historical cost: |
31.8.23 | 31.8.22 |
£ | £ |
Cost | 401,006 | 401,006 |
Investment property was valued on a fair value basis on 31 August 2023 by the directors of the company . |
7. | DEBTORS |
31.8.23 | 31.8.22 |
£ | £ |
Amounts falling due within one year: |
Amounts owed by associates |
Other debtors |
ALBION INVESTMENTS & HOLDINGS LTD (REGISTERED NUMBER: 09122157) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 AUGUST 2023 |
7. | DEBTORS - continued |
31.8.23 | 31.8.22 |
£ | £ |
Amounts falling due after more than one year: |
Amounts owed by associates |
Aggregate amounts |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.8.23 | 31.8.22 |
£ | £ |
Amounts owed to group undertakings |
Amounts owed to associates | 121,302 | 42,302 |
Taxation and social security |
Other creditors |
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.8.23 | 31.8.22 |
£ | £ |
Bank loans |
Amounts falling due in more than five years: |
Repayable by instalments |
Mortgage | 288,522 | 288,522 |
10. | SECURED DEBTS |
The following secured debts are included within creditors: |
31.8.23 | 31.8.22 |
£ | £ |
Bank loans |
The mortgage is secured against the investment property. |
11. | RESERVES |
Fair |
value |
reserve |
£ |
At 1 September 2022 |
Fair value reserve movement | (107,563 | ) |
At 31 August 2023 |
ALBION INVESTMENTS & HOLDINGS LTD (REGISTERED NUMBER: 09122157) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 AUGUST 2023 |
12. | RELATED PARTY DISCLOSURES |
At the Balance Sheet date the company was owed £65,000 (2022 - £84,545) by Luxury Waterside Lettings (Hythe) Ltd, a company in which Paul Francis, is a director and 50% shareholder. |
At the Balance Sheet date the company was owed £21,867 (2022 - £21,867) by P&G Sports Simulators Ltd, a company in which Paul Francis is a director and 50% shareholder. |
At the Balance Sheet date the company was owed £71,554 (2022 - £93,755) by AGP Property Refurbishment & Development Ltd, a company in which Paul Francis is a director and 50% shareholder. |
At the Balance Sheet date the company was owed £nil (2022 - £178,544) by Geoben Ltd, a company in which Paul Francis is a 50% shareholder.This company was dissolved on 5/12/23. |
At the Balance Sheet date the company owed £121,302 (2022 - £42,302)) to Tiakyfee Consultants Ltd, a company in which Paul and Lana Francis are directors and shareholders. |
13. | ULTIMATE CONTROLLING PARTY |
The company is ultimately controlled by Paul and Lana Francis. |