Silverfin false false 31/12/2023 01/01/2023 31/12/2023 J C Boughton 03/09/2013 M B Boughton 22/03/2018 N W King 22/03/2018 S A King 03/09/2013 17 April 2024 The principal activity of the Company during the financial year was an investment company. 08673651 2023-12-31 08673651 bus:Director1 2023-12-31 08673651 bus:Director2 2023-12-31 08673651 bus:Director3 2023-12-31 08673651 bus:Director4 2023-12-31 08673651 2022-12-31 08673651 core:CurrentFinancialInstruments 2023-12-31 08673651 core:CurrentFinancialInstruments 2022-12-31 08673651 core:Non-currentFinancialInstruments 2023-12-31 08673651 core:Non-currentFinancialInstruments 2022-12-31 08673651 core:ShareCapital 2023-12-31 08673651 core:ShareCapital 2022-12-31 08673651 core:RetainedEarningsAccumulatedLosses 2023-12-31 08673651 core:RetainedEarningsAccumulatedLosses 2022-12-31 08673651 core:InvestmentPropertyIncludedWithinPPE 2022-12-31 08673651 core:InvestmentPropertyIncludedWithinPPE 2023-12-31 08673651 2023-01-01 2023-12-31 08673651 bus:FilletedAccounts 2023-01-01 2023-12-31 08673651 bus:SmallEntities 2023-01-01 2023-12-31 08673651 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 08673651 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 08673651 bus:Director1 2023-01-01 2023-12-31 08673651 bus:Director2 2023-01-01 2023-12-31 08673651 bus:Director3 2023-01-01 2023-12-31 08673651 bus:Director4 2023-01-01 2023-12-31 08673651 2022-01-01 2022-12-31 iso4217:GBP xbrli:pure

Company No: 08673651 (England and Wales)

ALTO PROPERTIES (UK) LTD

Unaudited Financial Statements
For the financial year ended 31 December 2023
Pages for filing with the registrar

ALTO PROPERTIES (UK) LTD

Unaudited Financial Statements

For the financial year ended 31 December 2023

Contents

ALTO PROPERTIES (UK) LTD

BALANCE SHEET

As at 31 December 2023
ALTO PROPERTIES (UK) LTD

BALANCE SHEET (continued)

As at 31 December 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 1,198,046 1,198,046
1,198,046 1,198,046
Current assets
Cash at bank and in hand 20,151 24,509
20,151 24,509
Creditors: amounts falling due within one year 4 ( 141,496) ( 136,494)
Net current liabilities (121,345) (111,985)
Total assets less current liabilities 1,076,701 1,086,061
Creditors: amounts falling due after more than one year 5 ( 161,764) ( 272,754)
Net assets 914,937 813,307
Capital and reserves
Called-up share capital 100 100
Profit and loss account 914,837 813,207
Total shareholders' funds 914,937 813,307

For the financial year ending 31 December 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Alto Properties (UK) Ltd (registered number: 08673651) were approved and authorised for issue by the Board of Directors on 17 April 2024. They were signed on its behalf by:

S A King
Director
ALTO PROPERTIES (UK) LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
ALTO PROPERTIES (UK) LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Alto Properties (UK) Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Towngate House, 2-8 Parkstone Road, Poole, BH15 2PW, United Kingdom. The principal place of business is 314-316 Bournemouth Road, Poole, Dorset, BH14 9AP.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover represents amounts chargeable in respect of rent receivable.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Investment property not depreciated

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Investment property

Investment property is carried at cost, which is considered to be fair value, derived from the current market prices for comparable real estate. Any changes in fair value are recognised in profit and loss.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 4 4

3. Tangible assets

Investment property Total
£ £
Cost
At 01 January 2023 1,198,046 1,198,046
At 31 December 2023 1,198,046 1,198,046
Accumulated depreciation
At 01 January 2023 0 0
At 31 December 2023 0 0
Net book value
At 31 December 2023 1,198,046 1,198,046
At 31 December 2022 1,198,046 1,198,046

4. Creditors: amounts falling due within one year

2023 2022
£ £
Amounts owed to directors 110,000 110,000
Corporation tax 29,607 24,695
Other creditors 1,889 1,799
141,496 136,494

5. Creditors: amounts falling due after more than one year

2023 2022
£ £
Amounts owed to directors 161,764 272,754