REGISTERED NUMBER: |
A & L DEVELOPMENTS LTD |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 NOVEMBER 2023 |
REGISTERED NUMBER: |
A & L DEVELOPMENTS LTD |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 NOVEMBER 2023 |
A & L DEVELOPMENTS LTD (REGISTERED NUMBER: 12238383) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the year ended 30 November 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
A & L DEVELOPMENTS LTD |
COMPANY INFORMATION |
for the year ended 30 November 2023 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
100 Boldmere Road |
Sutton Coldfield |
West Midlands |
B73 5UB |
A & L DEVELOPMENTS LTD (REGISTERED NUMBER: 12238383) |
BALANCE SHEET |
30 November 2023 |
30/11/23 | 30/11/22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
A & L DEVELOPMENTS LTD (REGISTERED NUMBER: 12238383) |
NOTES TO THE FINANCIAL STATEMENTS |
for the year ended 30 November 2023 |
1. | STATUTORY INFORMATION |
A & L Developments Ltd is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
As at the 30 November 2023, the balance sheet reflects net current liabilities of £279,184 and an insolvent position of £141,677. The directors are of the opinion that this situation will reverse in the foreseeable future. In addition, included within creditors due within one year is an amount due to a participating interest amounting to £4,320,000, and they have given their assurance that they will not request repayment of the funds until the company has sufficient funds to do so. As such, the directors consider the going concern basis of preparation to be appropriate. |
Investment property |
Investment property consists of a plot of land and is shown at most recent valuation. Any aggregate surplus or deficit arsing from changes in fair value is recognised on the income statement. |
Stocks and work in progress |
Stocks and work in progress are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Provision is made for damaged, obsolete and slow-moving stock where appropriate. |
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. |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2022 - NIL). |
A & L DEVELOPMENTS LTD (REGISTERED NUMBER: 12238383) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 30 November 2023 |
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 December 2022 |
Disposals | ( |
) |
At 30 November 2023 |
NET BOOK VALUE |
At 30 November 2023 |
At 30 November 2022 |
Investment property disposal is in connection with the Stamp Duty Land Tax overpayment relief claimed by the company in relation to historical cost. |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30/11/23 | 30/11/22 |
£ | £ |
Other debtors |
Prepayments |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30/11/23 | 30/11/22 |
£ | £ |
Other loans |
Trade creditors |
Social security & other taxes |
Other creditors |
Accrued expenses |
7. | SECURED DEBTS |
The following secured debts are included within creditors: |
30/11/23 | 30/11/22 |
£ | £ |
Other loans |
The loan is secured by way of a charge over the property. |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 30/11/23 | 30/11/22 |
value: | £ | £ |
Ordinary | £1 | 100 | 100 |
A & L DEVELOPMENTS LTD (REGISTERED NUMBER: 12238383) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 30 November 2023 |
9. | RELATED PARTY DISCLOSURES |
During the year, the company received goods and services from a company which holds 50% of the issued share capital of A & L Developments Ltd amounting to £610,155 (2022: £332,875). |
During a previous period, the company was provided with a loan by a company which holds 50% of the issued share capital of A & L Developments Ltd. There is no specific interest rate or repayment terms. Upon repayment of the capital amount, the company will pay a fixed interest amount of £100,000 to the lender. |