2022-12-012023-11-302023-11-30false04442076Alternative Property Services 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Alternative Property Services Limited

Registered Number
04442076
(England and Wales)

Unaudited Financial Statements for the Year ended
30 November 2023

Alternative Property Services Limited
Company Information
for the year from 1 December 2022 to 30 November 2023

Directors

Mr J Hall
Mrs M Hall

Registered Address

10 Western Road
Romford
RM1 3JT

Registered Number

04442076 (England and Wales)
Alternative Property Services Limited
Balance Sheet as at
30 November 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets881,52961,570
81,52961,570
Current assets
Debtors1160,795125,104
Cash at bank and on hand206,080134,568
266,875259,672
Creditors amounts falling due within one year12(148,557)(139,728)
Net current assets (liabilities)118,318119,944
Total assets less current liabilities199,847181,514
Provisions for liabilities13(20,382)(11,698)
Net assets179,465169,816
Capital and reserves
Called up share capital1,0001,000
Profit and loss account178,465168,816
Shareholders' funds179,465169,816
The financial statements were approved and authorised for issue by the Board of Directors on 13 August 2024, and are signed on its behalf by:
Mr J Hall
Director
Mrs M Hall
Director

Registered Company No. 04442076
Alternative Property Services Limited
Notes to the Financial Statements
for the year ended 30 November 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 continued to be that of rental property agents.
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.
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 (%)
Fixtures and fittings20
Vehicles25
Intangible assets policy
Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life. For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.
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.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Government grants and other government assistance policy
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received. A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance onditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.
Leases policy
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
Employee benefits policy
Contributions to defined contribution plans are expensed in the period to which they relate.
6.Employee information

20232022
Average number of employees during the year1212
7.Intangible assets

Goodwill

Total

££
Cost or valuation
At 01 December 22475,000475,000
At 30 November 23475,000475,000
Amortisation and impairment
At 01 December 22475,000475,000
At 30 November 23475,000475,000
Net book value
At 30 November 23--
At 30 November 22--
8.Property, plant and equipment

Vehicles

Fixtures & fittings

Total

£££
Cost or valuation
At 01 December 2290,17163,047153,218
Additions93,4453,09396,538
Disposals(89,471)-(89,471)
At 30 November 2394,14566,140160,285
Depreciation and impairment
At 01 December 2239,81451,83491,648
Charge for year23,3612,86226,223
On disposals(39,115)-(39,115)
At 30 November 2324,06054,69678,756
Net book value
At 30 November 2370,08511,44481,529
At 30 November 2250,35711,21361,570
9.Directors advances, credits and guarantees

Brought forward

Amount advanced

Amount repaid

Carried forward

££££
Mr J Hall51282,50061,25021,762
Directors current account 1
Mrs M Hall51182,50061,25021,761
Directors current account 2
1,023165,000122,50043,523
10.Dividends proposed and payable

2023

2022

££
Dividends Paid320,000350,000
Total320,000350,000
Dividends totalling £256,000 (2022 - £280,000) were paid in the year in respect of shares held by the company's directors.
11.Debtors

2023

2022

££
Other debtors51,200111,876
Prepayments and accrued income9,59513,228
Total60,795125,104
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.
12.Creditors within one year

2023

2022

££
Trade creditors / trade payables4037
Taxation and social security138,871107,635
Other creditors87622,997
Accrued liabilities and deferred income8,7709,059
Total148,557139,728
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.
13.Provisions for liabilities

2023

2022

££
Net deferred tax liability (asset)20,38211,698
Total20,38211,698