Registered number
03173562
Allam Developments Limited
Filleted Accounts
31 December 2023
Allam Developments Limited
Registered number: 03173562
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 502,804 516,941
Current assets
Stocks 1,761,743 1,761,743
Debtors 4 37,084 32,978
Cash at bank and in hand 92,873 229,873
1,891,700 2,024,594
Creditors: amounts falling due within one year 5 (145,308) (175,171)
Net current assets 1,746,392 1,849,423
Total assets less current liabilities 2,249,196 2,366,364
Provisions for liabilities (292) (292)
Net assets 2,248,904 2,366,072
Capital and reserves
Called up share capital 249,999 249,999
Capital redemption reserve 1 1
Profit and loss account 1,998,904 2,116,072
Shareholder's funds 2,248,904 2,366,072
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mrs E Allam-Forster
Director
Approved by the board on 4 March 2024
Allam Developments Limited
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover represents income generated from the sale, development and letting of properties, and the operation of the car park. It is recognised for periods of occupation of the property or car park, or on the exchange of contracts for the sale of properties.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Plant and machinery over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 3 3
3 Tangible fixed assets
Freehold land and buildings Plant and machinery Total
£ £ £
Cost
At 1 January 2023 629,817 43,899 673,716
At 31 December 2023 629,817 43,899 673,716
Depreciation
At 1 January 2023 114,415 42,360 156,775
Charge for the year 12,598 1,539 14,137
At 31 December 2023 127,013 43,899 170,912
Net book value
At 31 December 2023 502,804 - 502,804
At 31 December 2022 515,402 1,539 516,941
4 Debtors 2023 2022
£ £
Trade debtors 4,848 3,336
Other debtors 32,236 29,642
37,084 32,978
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 46,012 47,388
Taxation and social security costs 62,851 85,303
Other creditors 36,445 42,480
145,308 175,171
6 Controlling party
There is no single controlling party.
7 Other information
Allam Developments Limited is a private company limited by shares and incorporated in England. Its registered office is:
Wyke Way
Melton West Business Park
Melton
Hull
HU14 3BQ
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