3 false false false false false false false false false false true false false false false false false No description of principal activity 2023-01-01 Sage Accounts Production Advanced 2023 - FRS102_2023 476,250 443,431 104,319 1,024,000 1,024,000 476,250 xbrli:pure xbrli:shares iso4217:GBP 12145281 2023-01-01 2023-12-31 12145281 2023-12-31 12145281 2022-12-31 12145281 2022-01-01 2022-12-31 12145281 2022-12-31 12145281 2021-12-31 12145281 bus:OrdinaryShareClass1 2023-01-01 2023-12-31 12145281 bus:Director1 2023-01-01 2023-12-31 12145281 bus:Director2 2023-01-01 2023-12-31 12145281 core:WithinOneYear 2023-12-31 12145281 core:WithinOneYear 2022-12-31 12145281 core:LandBuildings core:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 12145281 core:AfterOneYear 2023-12-31 12145281 core:AfterOneYear 2022-12-31 12145281 core:ShareCapital 2023-12-31 12145281 core:ShareCapital 2022-12-31 12145281 core:RetainedEarningsAccumulatedLosses 2023-12-31 12145281 core:RetainedEarningsAccumulatedLosses 2022-12-31 12145281 core:LandBuildings core:OwnedOrFreeholdAssets 2023-12-31 12145281 core:LandBuildings core:OwnedOrFreeholdAssets 2022-12-31 12145281 core:LandBuildings core:OwnedOrFreeholdAssets 2022-12-31 12145281 bus:SmallEntities 2023-01-01 2023-12-31 12145281 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 12145281 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 12145281 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 12145281 bus:FullAccounts 2023-01-01 2023-12-31 12145281 bus:OrdinaryShareClass1 2023-12-31 12145281 bus:OrdinaryShareClass1 2022-12-31
COMPANY REGISTRATION NUMBER: 12145281
Alliance Real Estate Holdings Limited
Filleted Unaudited Financial Statements
Year ending
31 December 2023
Alliance Real Estate Holdings Limited
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
£
£
Fixed assets
Tangible assets
5
1,024,000
476,250
Current assets
Debtors
6
7,665
496
Cash at bank and in hand
6,601
167,353
--------
---------
14,266
167,849
Creditors: amounts falling due within one year
7
669,489
432,051
---------
---------
Net current liabilities
655,223
264,202
------------
---------
Total assets less current liabilities
368,777
212,048
Creditors: amounts falling due after more than one year
8
389,069
255,893
Provisions
5,680
---------
---------
Net liabilities
( 20,292)
( 49,525)
---------
---------
Capital and reserves
Called up share capital
9
200
200
Profit and loss account
( 20,492)
( 49,725)
--------
--------
Shareholders deficit
( 20,292)
( 49,525)
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Alliance Real Estate Holdings Limited
Statement of Financial Position (continued)
31 December 2023
These financial statements were approved by the board of directors and authorised for issue on 22 August 2024 , and are signed on behalf of the board by:
R P Barnes
E F Tobin
Director
Director
Company registration number: 12145281
Alliance Real Estate Holdings Limited
Notes to the Financial Statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 146 New London Road, Chelmsford, Essex, CM2 0AW.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of investment properties measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The financial statements have been prepared on a going concern basis which is dependent upon the financial support of the company's creditors.
Revenue recognition
The turnover shown in the profit and loss account represents rental income accounted for on a receivable basis.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. 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 is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2022: 3 ).
5. Tangible assets
Investment property
£
Cost or valuation
At 1 January 2023
476,250
Additions
443,431
Revaluations
104,319
------------
At 31 December 2023
1,024,000
------------
Depreciation
At 1 January 2023 and 31 December 2023
------------
Carrying amount
At 31 December 2023
1,024,000
------------
At 31 December 2022
476,250
------------
The directors have valued the investment property at £1,024,000 at 31 December 2023. The historical cost of the investment property is £850,948.
6. Debtors
2023
2022
£
£
Other debtors
7,665
496
-------
----
7. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
345
295
Accruals and deferred income
2,100
1,134
Amounts owed to a related party
666,219
429,797
Other creditors
825
825
---------
---------
669,489
432,051
---------
---------
8. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
389,069
255,893
---------
---------
The bank loan is secured on the investment property.
9. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary shares of £ 1 each
200
200
200
200
----
----
----
----
10. Related party transactions
At the year end date the company owed related parties £666,219 (2022 - £429,797) which is shown amongst creditors.