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Registered number: 12888074









ALTON AYLESBURY LIMITED









FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JULY 2023

 
ALTON AYLESBURY LIMITED
REGISTERED NUMBER: 12888074

STATEMENT OF FINANCIAL POSITION
AS AT 31 JULY 2023

2023
2022
Note
£
£

Fixed assets
  

Investments
 4 
100
-

  
100
-

Current assets
  

Stock
 5 
1,873,077
28,425,857

Debtors: amounts falling due within one year
 6 
13,529,594
1,554,381

Cash at bank and in hand
  
225,688
401

  
15,628,359
29,980,639

Creditors: amounts falling due within one year
 7 
(16,376,435)
(14,925,526)

Net current (liabilities)/assets
  
 
 
(748,076)
 
 
15,055,113

Total assets less current liabilities
  
(747,976)
15,055,113

Creditors: amounts falling due after more than one year
 8 
-
(15,098,196)

  

Net liabilities
  
(747,976)
(43,083)


Capital and reserves
  

Called up share capital 
 10 
100
100

Profit and loss account
  
(748,076)
(43,183)

  
(747,976)
(43,083)


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 






G D Thwaites
Page 1

 
ALTON AYLESBURY LIMITED
REGISTERED NUMBER: 12888074
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 JULY 2023

Director

Date: 12 March 2024

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
ALTON AYLESBURY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

1.


General information

The principal activity of Alton Aylesbury Limited ("The Company") is that of property development.
The Company is a private company limited by shares and is incorporated in England and Wales.
The Registered Office address is 35 Ballards Lane, London, N3 1XW 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Exemption from preparing consolidated financial statements

The Company is a parent company that is also a subsidiary included in the consolidated financial statements of a larger group by a parent undertaking established under the law of any part of the United Kingdom and is therefore exempt from the requirement to prepare consolidated financial statements under section 400 of the Companies Act 2006.

 
2.3

Going concern

The financial statements have been prepared on the going concern basis as in the opinion of the directors the company has sufficient access to funds to cover the liabilities of the company.
The company has made a loss in the year and has net current liabilities. The company relies on the support of a group entity which has confirmed its intention to provide support for a period of twelve months from the date of signing of the accounts.

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue is recognised on completion.

Page 3

 
ALTON AYLESBURY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

2.Accounting policies (continued)

 
2.5

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.6

Stocks

Work in progress comprises development land and property stated at the lower of cost and selling price less costs to complete and sell. Cost is based on the cost of purchase.
At each reporting date, work in progress is assessed for impairment. If work in progress is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
(i) Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, 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.
Such assets are subsequently carried at amortised cost using the effective interest method.
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Comprehensive Income.
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.
(ii) Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.
 
Page 4

 
ALTON AYLESBURY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

2.Accounting policies (continued)


2.8
Financial instruments (continued)


Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.
(iii) Offsetting
Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2022 - 1).


4.


Fixed asset investments





Investments in subsidiary companies

£



Cost 


Additions
100



At 31 July 2023
100





5.


Stocks

2023
2022
£
£

Property held as stock
1,873,077
28,425,857


Included in stock is £1,362,983 of capitalised interest.

Page 5

 
ALTON AYLESBURY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

6.


Debtors

2023
2022
£
£


Trade debtors
877
-

Amounts owed by group undertakings
13,470,950
-

Other debtors
57,767
1,554,381

13,529,594
1,554,381



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
331
1,209,097

Amounts owed to group undertakings
16,216,323
13,365,160

Accruals and deferred income
159,781
351,269

16,376,435
14,925,526



8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
-
15,098,196


The loan in the prior year was secured by a charge over the property of the company, a debenture over the assets of the company, a charge over cash deposit and a personal guarantee from B Thwaites and E Blumenfeld limited to £18,768,000.


9.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£


Amounts falling due 1-2 years

Bank loans
-
15,098,196



-
15,098,196


Page 6

 
ALTON AYLESBURY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

10.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100 (2022 - 100) Ordinary shares of £1.00 each
100
100



11.Other financial commitments

A loan in the subsidiary entity is secured by a charge over the property held in this company. 


12.


Related party transactions

Where possible the Company has taken advantage of the exemption conferred by FRS 102 section 33.1A from the requirement to disclose transactions with other wholly owned group undertakings on the grounds that consolidated financial statements are prepared by the parent company and are publicly available.


13.


Controlling party

The parent undertaking is Tranos (UK) Limited.
The registered office and principal place of business is 35 Ballards Lane, London, England, N3 1XW.


14.


Auditors' information

The auditors' report on the financial statements for the year ended 31 July 2023 was unqualified.

The audit report was signed on 13 March 2024 by Nick Bishop FCA (Senior Statutory Auditor) on behalf of BKL Audit LLP.

 
Page 7