Silverfin false false 31/03/2024 01/04/2023 31/03/2024 C W D Macey 12/05/2008 J P S Prichard 15/10/2003 12 August 2024 The principal activity of the Company during the period was property investment. 00660941 2024-03-31 00660941 bus:Director1 2024-03-31 00660941 bus:Director2 2024-03-31 00660941 2023-03-31 00660941 core:CurrentFinancialInstruments 2024-03-31 00660941 core:CurrentFinancialInstruments 2023-03-31 00660941 core:Non-currentFinancialInstruments 2024-03-31 00660941 core:Non-currentFinancialInstruments 2023-03-31 00660941 core:ShareCapital 2024-03-31 00660941 core:ShareCapital 2023-03-31 00660941 core:RetainedEarningsAccumulatedLosses 2024-03-31 00660941 core:RetainedEarningsAccumulatedLosses 2023-03-31 00660941 2022-03-31 00660941 2023-04-01 2024-03-31 00660941 bus:FilletedAccounts 2023-04-01 2024-03-31 00660941 bus:SmallEntities 2023-04-01 2024-03-31 00660941 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 00660941 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 00660941 bus:Director1 2023-04-01 2024-03-31 00660941 bus:Director2 2023-04-01 2024-03-31 00660941 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure

Company No: 00660941 (England and Wales)

ALMONDGROVE LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

ALMONDGROVE LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

ALMONDGROVE LIMITED

BALANCE SHEET

As at 31 March 2024
ALMONDGROVE LIMITED

BALANCE SHEET (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Investment property 3 944,000 944,000
944,000 944,000
Current assets
Debtors
- due within one year 4 22,725 22,206
- due after more than one year 4 9,132 24,132
Cash at bank and in hand 13,416 9,326
45,273 55,664
Creditors: amounts falling due within one year 5 ( 33,337) ( 23,971)
Net current assets 11,936 31,693
Total assets less current liabilities 955,936 975,693
Provision for liabilities 6 ( 223,855) ( 223,855)
Net assets 732,081 751,838
Capital and reserves
Called-up share capital 100 100
Profit and loss account 731,981 751,738
Total shareholders' funds 732,081 751,838

For the financial year ending 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Almondgrove Limited (registered number: 00660941) were approved and authorised for issue by the Board of Directors on 12 August 2024. They were signed on its behalf by:

C W D Macey
Director
ALMONDGROVE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
ALMONDGROVE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Almondgrove Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Towngate House, 2-8 Parkstone Road, Poole, BH15 2PW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated as rent received and is recognised when the significant risks and rewards are considered to have been transferred to the tenants.

Taxation

Current tax
Current tax is provided at amounts expected to be paid using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted. The deferred tax charge has been updated to reflect the revaluation of the properties and also the increase in Corporation Tax rates as at 1 April 2023 to 25%.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 3

3. Investment property

Investment property
£
Valuation
As at 01 April 2023 944,000
As at 31 March 2024 944,000

Valuation

The directors have valued the property as at 31 March 2023 at £944,000, being consistent with an independent valuation obtained on the properties. The directors are in the opinion that the investment properties are valued at fair value.

Historic cost

If the investment properties had been accounted for under the cost accounting rules, the properties would have been measured as follows:

2024 2023
£ £
Historic cost 13,876 13,876

4. Debtors

2024 2023
£ £
Debtors: amounts falling due within one year
Amounts owed by Group undertakings 20,000 20,000
Other debtors 2,725 2,206
22,725 22,206
Debtors: amounts falling due after more than one year
Amounts owed by Group undertakings 9,132 24,132

5. Creditors: amounts falling due within one year

2024 2023
£ £
Corporation tax 4,725 6,901
Other taxation and social security 2,976 1,864
Other creditors 25,636 15,206
33,337 23,971

6. Deferred tax

2024 2023
£ £
At the beginning of financial year ( 223,855) ( 144,741)
Charged to the Statement of Income and Retained Earnings 0 ( 79,114)
At the end of financial year ( 223,855) ( 223,855)

7. Control

The company is jointly controlled by CWD Macey and JA Trafford as Trustees of the VT Insley- Fox Will Trust and Mrs JPS Prichard.

8. Reserves

Reserves

2024 2023
£ £
Distributable Reserves 25,712 45,469
Non-distributable reserves 706,269 706,269
731,981 751,738

Included in the profit and loss reserves is £706,269 (2023 - £706,629) of non-distributable reserves.