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Registration number: 03318827

Alderley Land Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Alderley Land Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 11

 

Alderley Land Limited

Company Information

Director

Mr O H Inskip

Company secretary

Mr O H Inskip

Registration number

03318827

Registered office

Wood Farm
Foxham
Chippenham
SN15 4NL

Accountants

mca Shepherd Smail Ltd
21 Market Place
Cirencester
Gloucestershire
GL7 2NX

 

Alderley Land Limited

(Registration number: 03318827)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

1,822,825

1,778,720

Investments

6

2,010,977

1,994,810

 

3,833,802

3,773,530

Current assets

 

Debtors

7

113,852

56,387

Cash at bank and in hand

 

8,172

11,938

 

122,024

68,325

Creditors: Amounts falling due within one year

8

(2,400,149)

(2,226,403)

Net current liabilities

 

(2,278,125)

(2,158,078)

Total assets less current liabilities

 

1,555,677

1,615,452

Provisions for liabilities

(4,093)

(1,466)

Net assets

 

1,551,584

1,613,986

Capital and reserves

 

Called up share capital

1,200,000

1,200,000

Retained earnings

351,584

413,986

Shareholders' funds

 

1,551,584

1,613,986

 

Alderley Land Limited

(Registration number: 03318827)
Balance Sheet as at 31 March 2024

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 23 July 2024
 

Mr O H Inskip

Company secretary and director

 

Alderley Land Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Wood Farm
Foxham
Chippenham
SN15 4NL

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

These financial statements are prepared in Sterling, which is the functional currency of the company. All monetary amounts are rounded to the nearest £.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Alderley Land Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% Reducing balance

Office equipment

33% Straight Line

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Alderley Land Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Associates
Associates are held at fair value.

 

Alderley Land Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 3 (2023 - 3).

4

Loss before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

7,181

2,572

5

Tangible assets

Freehold property
£

Plant and machinery
£

Office equipment
£

Total
£

Cost or valuation

At 1 April 2023

1,771,000

58,063

605

1,829,668

Additions

30,285

21,000

-

51,285

At 31 March 2024

1,801,285

79,063

605

1,880,953

Depreciation

At 1 April 2023

-

50,343

605

50,948

Charge for the year

-

7,180

-

7,180

At 31 March 2024

-

57,523

605

58,128

Carrying amount

At 31 March 2024

1,801,285

21,540

-

1,822,825

At 31 March 2023

1,771,000

7,720

-

1,778,720

Included within the net book value of land and buildings above is £1,801,285 (2023 - £1,771,000) in respect of freehold land and buildings.
 

 

Alderley Land Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

6

Investments

Associates

£

Fair value

At 1 April 2023

1,994,810

Additions

16,167

At 31 March 2024

2,010,977

Alderley Land Limited is a designated member of Chippenham 2020 LLP and Arms Farm LLP. Upon creation of these entities a capital contibution was made and a loan given to the new entities by Alderley Land Limited. Profits made by Chippenham 2020 LLP and Arms Farm LLP are in the first instance applied to repay these loans. Given the long term nature of these loans the director considers that the loans are more appropriately treated as fixed assets investments rather than current assets.

Aggregate financial information of associates

2024
£

2023
£

Profit or loss

(3,833)

(5,802)

 

Alderley Land Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

2024

2023

Subsidiary undertakings

Alderley Property (Chippenham) Limited

Wood Farm, Foxham, Chippenham, SN15 4NL

England and Wales

Ordinary shares

100%

100%

Associates

Chippenham 2020 LLP

Wood Farm Foxham, Chippenham, SN15 4NL

53.1%

53.9%

England and Wales

Arms Farm LLP

Wood Farm Foxham, Chippenham, SN15 4NL

50%

50%

England and Wales

Subsidiary undertakings

Alderley Property (Chippenham) Limited

The principal activity of Alderley Property (Chippenham) Limited is buying and selling of own real estate.

Associates

Chippenham 2020 LLP

The principal activity of Chippenham 2020 LLP is development of land and property.

Arms Farm LLP

The principal activity of Arms Farm LLP is development of land and property.

 

Alderley Land Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

7

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

840

-

Amounts owed by related parties

9

106,325

55,450

Prepayments

 

64

61

Other debtors

 

6,623

876

   

113,852

56,387

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

1,200,000

1,200,000

Accruals and deferred income

 

2,820

2,645

Other creditors

 

1,197,329

1,023,758

 

2,400,149

2,226,403

 

Alderley Land Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

9

Related party transactions

Summary of transactions with other related parties

Alderley Property (Chippenham) Limited
 Mr Owen Hampden Inskip, director and shareholder is a director of Alderley Property (Chippenham) Limited.

At the balance sheet date the amount due to Alderley Land Limited was £106,325 (2023: £55,450)

 

10

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £1 each

1,200,000

1,200,000

1,200,000

1,200,000