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REGISTERED NUMBER: 10060778 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

ATH-ALPHA INVESTMENTS LTD

ATH-ALPHA INVESTMENTS LTD (REGISTERED NUMBER: 10060778)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


ATH-ALPHA INVESTMENTS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Mr N Eliades
Mr A G Eliades





REGISTERED OFFICE: Fairport
Fortis Green
London
N10 3BQ





REGISTERED NUMBER: 10060778 (England and Wales)





ACCOUNTANTS: EA
Chartered Accountants
869 High Road
London
N12 8QA

ATH-ALPHA INVESTMENTS LTD (REGISTERED NUMBER: 10060778)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,500,000 1,500,000
Investment property 5 549,072 525,897
2,049,072 2,025,897

CURRENT ASSETS
Cash at bank 26,093 28,381

CREDITORS
Amounts falling due within one year 6 385,848 262,752
NET CURRENT LIABILITIES (359,755 ) (234,371 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,689,317

1,791,526

CREDITORS
Amounts falling due after more than one year 7 (999,697 ) (973,380 )

PROVISIONS FOR LIABILITIES (137,233 ) (137,233 )
NET ASSETS 552,387 680,913

CAPITAL AND RESERVES
Called up share capital 1,040 1,040
Non-distributable reserves 411,699 411,699
Retained earnings 139,648 268,174
552,387 680,913

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.

ATH-ALPHA INVESTMENTS LTD (REGISTERED NUMBER: 10060778)

STATEMENT OF FINANCIAL POSITION - 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 June 2024 and were signed on its behalf by:





Mr A G Eliades - Director


ATH-ALPHA INVESTMENTS LTD (REGISTERED NUMBER: 10060778)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Ath-Alpha Investments Ltd 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.

The financial statements have been prepared on a going concern basis as the directors are satisfied that the company will have adequate resources to meet its liabilities to third parties as they fall due.

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.

INVESTMENT PROPERTY
Investment properties are carried at fair value. Revaluation surpluses are recognised in the income statement. Deferred Taxation is provided on these gains at the rate expected to apply when the property is sold. No depreciation is provided in respect of investment properties.

The Companies Act 2006 requires all properties to be depreciated. However, this requirement conflicts with the generally accepted accounting principle set out in FRS 102 (Section 1A). The directors consider that, because these properties are not held for consumption but for their investment potential, to depreciate them would not give a true and fair view and that it is necessary to adopt FRS 102 (Section 1A) in order to give a true and fair view. If this departure from the Act had not been made, the profit for the financial year would have been decreased by the amount of depreciation.

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 statement of financial position date.

DEFERRED TAX
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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).

ATH-ALPHA INVESTMENTS LTD (REGISTERED NUMBER: 10060778)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. TANGIBLE FIXED ASSETS
Long
leasehold
£   
COST
At 1 April 2023
and 31 March 2024 1,500,000
NET BOOK VALUE
At 31 March 2024 1,500,000
At 31 March 2023 1,500,000

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 525,897
Additions 23,175
At 31 March 2024 549,072
NET BOOK VALUE
At 31 March 2024 549,072
At 31 March 2023 525,897

Investment properties were valued on a fair value basis by the directors, on the 31 March 2024.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 4,308 35,512
Trade creditors 3,614 -
Taxation and social security 20,164 170,336
Other creditors 357,762 56,904
385,848 262,752

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 999,697 973,380

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 977,851 -

Repayable by instalments
Bank loans more 5 yr by instal 4,615 826,295

ATH-ALPHA INVESTMENTS LTD (REGISTERED NUMBER: 10060778)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Other loans 300,000 -
Bank loan 977,851 980,664
1,277,851 980,664

The bank and other loans are secured by fixed and floating charges on all assets of the company and a personal guarantee given by the director, Mr A G Eliades.

9. RELATED PARTY DISCLOSURES

Included in creditors, amounts falling due within one year, is an interest free amount of £2,588 (2023: £519) owed to the directors.

10. ULTIMATE CONTROLLING PARTY

During the period under review, the company was under the control of the director, Mr A G Eliades.