Alemscot Properties Ltd
Registered number: 12971494
Balance Sheet
as at 31 October 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 1,062,155 1,062,155
Current assets
Cash at bank and in hand 3,716 2,195
Creditors: amounts falling due within one year 4 (35,170) (38,305)
Net current liabilities (31,454) (36,110)
Total assets less current liabilities 1,030,701 1,026,045
Creditors: amounts falling due after more than one year 5 (1,024,000) (1,025,000)
Net assets 6,701 1,045
Capital and reserves
Called up share capital 100 100
Profit and loss account 6,601 945
Shareholders' funds 6,701 1,045
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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.
Eric Ntim Adu
Director
Approved by the board on 5 February 2024
Alemscot Properties Ltd
Notes to the Accounts
for the year ended 31 October 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 includes revenue earned from the sale of goods and from the rendering of services. 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.
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
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Land and buildings
£
Cost
Additions 1,062,155
At 31 October 2023 1,062,155
Depreciation
At 31 October 2023 -
Net book value
At 31 October 2023 1,062,155
4 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 600 600
Taxation and social security costs 1,565 225
Other creditors 33,005 37,480
35,170 38,305
5 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 700,000 700,000
Other creditors 324,000 325,000
1,024,000 1,025,000
6 Other information
Alemscot Properties Ltd is a private company limited by shares and incorporated in England. Its registered office is:
158 Chamberlayne Avenue
Wembley Park
Middlesex
HA9 8ST
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