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REGISTERED NUMBER: 13394352 (England and Wales)















Financial Statements for the Year Ended 31 October 2023

for

Alltmore Properties Limited

Alltmore Properties Limited (Registered number: 13394352)






Contents of the Financial Statements
for the Year Ended 31 October 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Alltmore Properties Limited

Company Information
for the Year Ended 31 October 2023







DIRECTOR: K R Mackay





REGISTERED OFFICE: C/o Darwin Gray Llp
9 Cathedral Road
Cardiff
CF11 9HA





REGISTERED NUMBER: 13394352 (England and Wales)





AUDITORS: Mackenzie Kerr Limited
Redwood
19 Culduthel Road
Inverness
IV2 4AA

Alltmore Properties Limited (Registered number: 13394352)

Abridged Balance Sheet
31 October 2023

31.10.23 31.10.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - 44,002
Investment property 5 19,805,000 24,410,000
19,805,000 24,454,002

CURRENT ASSETS
Debtors 2,113,457 603,159
Cash at bank 633,255 697,801
2,746,712 1,300,960
CREDITORS
Amounts falling due within one year 2,926,343 1,307,434
NET CURRENT LIABILITIES (179,631 ) (6,474 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

19,625,369

24,447,528

CREDITORS
Amounts falling due after more than
one year

21,645,589

25,082,818
NET LIABILITIES (2,020,220 ) (635,290 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (2,020,320 ) (635,390 )
(2,020,220 ) (635,290 )

Alltmore Properties Limited (Registered number: 13394352)

Abridged Balance Sheet - continued
31 October 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 October 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 31 July 2024 and were signed by:





K R Mackay - Director


Alltmore Properties Limited (Registered number: 13394352)

Notes to the Financial Statements
for the Year Ended 31 October 2023

1. STATUTORY INFORMATION

Alltmore Properties Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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 financial instruments at fair value. The principal accounting policies adopted are set out below.

Going concern
Although the balance sheet is in deficit at both 31st October 2023 and 2022, the director considers it appropriate to prepare these accounts on the going concern basis. The director and management of the company have prepared cash flow forecasts extending to July 2026 which show that the company will be able to meet its commitments as they fall due, either by way of funds generated by trading activities or from loans provided by the parent company.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 15% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Alltmore Properties Limited (Registered number: 13394352)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Currency
The financial statements are prepared in sterling, which if the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 November 2022 48,226
Disposals (48,226 )
At 31 October 2023 -
DEPRECIATION
At 1 November 2022 4,224
Eliminated on disposal (4,224 )
At 31 October 2023 -
NET BOOK VALUE
At 31 October 2023 -
At 31 October 2022 44,002

Alltmore Properties Limited (Registered number: 13394352)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 November 2022 24,410,000
Disposals (3,195,000 )
Impairments (1,410,000 )
At 31 October 2023 19,805,000
NET BOOK VALUE
At 31 October 2023 19,805,000
At 31 October 2022 24,410,000

Investment properties are accounted for in accordance with Financial Reporting Standard 102. No depreciation is provided in respect of such properties.

Investment properties were valued on 2 August 2023 by Colliers International property consultants at market value. The director considers this to be an accurate valuation at 31 October 2023. If the investments had not been revalued they would have been carried in the balance sheet at its historic cost of £21,215,000

6. SECURED DEBTS

The following secured debts are included within creditors:

31.10.23 31.10.22
£    £   
Bank loans 13,870,269 17,242,596
Hire purchase contracts - 1,939
13,870,269 17,244,535

The bank loan is secured by a bond and floating charge over the whole assets of the company and a fixed charge over the assignation of the rents of the assets. The facility is repayable in full by 15 July 2026.

Hire purchase and finance leases are secured over the assets to which they relate.

7. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Mark D Sanderson BSc CA (Senior Statutory Auditor)
for and on behalf of Mackenzie Kerr Limited

Alltmore Properties Limited (Registered number: 13394352)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

8. RELATED PARTY DISCLOSURES

The disclosures as given in the financial statements are as follows:

At 31 October 2023, Alltmore Asset Management Limited, a company owned by director K R Mackay, was owed by the company £733,472 (2022 - £180,998). During the period, the company received income of £2,649,169 (2022 - £2,577,529), made net transfers of £2,038,161 (2022 - £2,138,713) and purchases of £58,534 (2022 - £ 136,909) with Alltmore Asset Management Limited.

At 31 October 2023, Alltmore Limited, a company owned by director K R Mackay, was owed by the company £39,536 (2022 - £35,037). During the period, the company received income of £9,495 (2022 - £5,189), made net transfers of £1,146 (2022 - £31,924) and made purchases of £3,849 (2022 - £1,025) with Alltmore Limited.

At 31 October 2023, Mackay Properties Limited, a company in which K R Mackay is a director, owed the company £1,897,617 (2022 - £218,348). During the period, the company received income of £2,776 (2022 - £82,480), made net transfers of £1,186,607 (2022 - £334,933) and made purchases of £507,675 (2022 - £612,779) with Mackay Properties Limited.

At 31 October 2023, Mackay Investments Limited, a company in which K R MacKay is a director was owed £139,204 (2022 - £54,790). During the period, the company made purchases of £84,414 (2022 - Nil) with Mackay Investments Limited.

At 31 October 2023, the company owed Alltmore Property LLP in which K R Mackay is a director of equity members £8,034,932 (2022 - £8,034,932). During the period, the company received £Nil (2022 - £Nil) and made payments of £Nil (2022 - £Nil) to Alltmore Property LLP.

Ultimate Parent Company

The ultimate parent company is Bells Road Holdings Limited.


Ultimate Controlling Party

The company is considered to be under the control of director K R Mackay and Mrs I M Mackay, who own 100% of the ultimate parent company Bells Road Holdings Limited.