2022-04-012023-03-312023-03-31false03025243ALPHA-LETS (UK) 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ALPHA-LETS (UK) LIMITED

Registered Number
03025243
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2023

ALPHA-LETS (UK) LIMITED
Company Information
for the year from 1 April 2022 to 31 March 2023

Directors

CONNICK, Barry
KROKATSIS, Michael

Company Secretary

CONNICK, Barry

Registered Address

Grove House
2 Woodberry Grove
London
N12 0DR

Registered Number

03025243 (England and Wales)
ALPHA-LETS (UK) LIMITED
Balance Sheet as at
31 March 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets757,53111,320
57,53111,320
Current assets
Debtors336,660223,674
Cash at bank and on hand123,893129,678
460,553353,352
Creditors amounts falling due within one year10(42,865)(26,759)
Net current assets (liabilities)417,688326,593
Total assets less current liabilities475,219337,913
Provisions for liabilities(10,931)(2,151)
Net assets464,288335,762
Capital and reserves
Called up share capital102102
Profit and loss account464,186335,660
Shareholders' funds464,288335,762
The financial statements were approved and authorised for issue by the Board of Directors on 11 January 2024, and are signed on its behalf by:
KROKATSIS, Michael
Director
Registered Company No. 03025243
ALPHA-LETS (UK) LIMITED
Notes to the Financial Statements
for the year ended 31 March 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Principal activities
The principal activity of the company in the year under review was that of letting and property management.
4.Basis of measurement used in financial statements
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).
5.Accounting policies
Functional and presentation currency policy
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Revenue from net rent received is measured at the fair value of the consideration received or receivable and represents amounts receivable for services provided in the normal course of business. Revenue generated from property rental services is recognised based on short lease agreement with tenants less commissions and fees.
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Plant and machinery20
Fixtures and fittings20
Vehicles20
Office Equipment20
Revenue recognition policy
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Taxation policy
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax policy
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.
6.Employee information

20232022
Average number of employees during the year34
7.Property, plant and equipment

Total

£
Cost or valuation
At 01 April 22119,725
Additions50,156
At 31 March 23169,881
Depreciation and impairment
At 01 April 22108,405
Charge for year3,945
At 31 March 23112,350
Net book value
At 31 March 2357,531
At 31 March 2211,320
8.Description of nature of transactions and balances with related parties
At the balance sheet date the company owed £14,350 (2022 - £Nil) to the directors which is an interest free loan with no fixed date for repayment.
9.Debtors within one year

2023

2022

££
Trade debtors / trade receivables136,275103,289
Amounts owed by group undertakings192,488112,488
Other debtors7,8977,897
Total336,660223,674
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.
10.Creditors within one year

2023

2022

££
Trade creditors / trade payables5,442427
Bank borrowings and overdrafts7,118-
Taxation and social security21,07324,332
Other creditors7,232-
Accrued liabilities and deferred income2,0002,000
Total42,86526,759
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.