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REGISTERED NUMBER: 06856494 (England and Wales)













Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Allerton Steel (Property) Limited

Allerton Steel (Property) Limited (Registered number: 06856494)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Allerton Steel (Property) Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: J Gatenby
A R Gatenby





REGISTERED OFFICE: Allerton House
Thurston Road
Northallerton
North Yorkshire
DL6 2NA





REGISTERED NUMBER: 06856494 (England and Wales)





ACCOUNTANTS: Clive Owen LLP
Chartered Accountants
140 Coniscliffe Road
DARLINGTON
Co Durham
DL3 7RT

Allerton Steel (Property) Limited (Registered number: 06856494)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 2,000,000 2,000,000

CURRENT ASSETS
Cash at bank - 6,065

CREDITORS
Amounts falling due within one year 5 91,844 86,502
NET CURRENT LIABILITIES (91,844 ) (80,437 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,908,156

1,919,563

CREDITORS
Amounts falling due after more than one
year

6

1,325,088

1,392,400
NET ASSETS 583,068 527,163

CAPITAL AND RESERVES
Called up share capital 7 1,000 1,000
Investment property revaluations reserve 351,722 351,722
Retained earnings 230,346 174,441
SHAREHOLDERS' FUNDS 583,068 527,163

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

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.

Allerton Steel (Property) Limited (Registered number: 06856494)

Balance Sheet - continued
31 March 2024


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

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

The financial statements were approved by the Board of Directors and authorised for issue on 1 August 2024 and were signed on its behalf by:





J Gatenby - Director


Allerton Steel (Property) Limited (Registered number: 06856494)

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

1. STATUTORY INFORMATION

Allerton Steel (Property) 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
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

There were no material departures from that standard.

The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group or those concluded under normal market conditions.

Income
Rental income, included in other operating income, represents net invoiced rents received on the investment property, excluding value added tax.

Income recognition
Income from the rental of the investment property is recognised in the period to which it relates.

Investment property
Investment property is included at fair value. Gains and losses are recognised in the Profit and Loss Account. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Financial instruments
Basic financial instruments are recognised at amortised cost with changes recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


Allerton Steel (Property) Limited (Registered number: 06856494)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 2,000,000
NET BOOK VALUE
At 31 March 2024 2,000,000
At 31 March 2023 2,000,000

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2020 351,722
Cost 1,648,278
2,000,000

Investment property was valued on an open market basis on 18 July 2018 by Savills .

The director considers that open market value has not changed significantly.

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed to group undertakings 70,000 70,000
Taxation and social security 20,044 14,702
Accruals and deferred income 1,800 1,800
91,844 86,502

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Amounts owed to group undertakings 1,325,088 1,392,400

Allerton Steel (Property) Limited (Registered number: 06856494)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1,000 Ordinary £1 1,000 1,000

8. CONTINGENT LIABILITIES

The company has provided security for Allerton Steel Limited's loan, in a charge over the property owned by the company. The loan balance owed by Allerton Steel Limited as at 31 March 2024 was £429,700.

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is the director John Gatenby, as beneficiary of the John Gatenby Sub-Trust. The shares are managed by JTC Trustees Ltd, as professional trustee for the trust.