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REGISTERED NUMBER: 13729625 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023

FOR

ALECHAR INVESTMENTS LTD

ALECHAR INVESTMENTS LTD (REGISTERED NUMBER: 13729625)






CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 30 NOVEMBER 2023




Page

Statement of Financial Position 1

Notes to the Financial Statements 2


ALECHAR INVESTMENTS LTD (REGISTERED NUMBER: 13729625)

STATEMENT OF FINANCIAL POSITION
30 NOVEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 1,875 2,500
Investment property 5 197,157 197,157
199,032 199,657

CURRENT ASSETS
Debtors 6 120 -

CREDITORS
Amounts falling due within one year 7 194,170 195,429
NET CURRENT LIABILITIES (194,050 ) (195,429 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,982

4,228

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 3,982 3,228
4,982 4,228

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 director and authorised for issue on 13 August 2024 and were signed by:





Mr P Statiotis - Director


ALECHAR INVESTMENTS LTD (REGISTERED NUMBER: 13729625)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 30 NOVEMBER 2023

1. STATUTORY INFORMATION

Alechar Investments Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 13729625

Registered office: 62 Chase Side
London
N14 5PA

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Significant judgements and estimates
In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

There are no significant judgements or estimates involved in the preparation of the financial statements.

Revenue
Revenue represents the value of rental income chargeable in respect of the company's investment property. Revenue is recognised evenly over the period of the rental agreement.

Property, plant and equipment
Property, plant and equipment are stated at cost less accumulated depreciation and accumulated impairment
losses. Such cost includes costs directly attributable to making the assets capable of operating as intended.

The carrying value of tangible assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.

Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

Plant and machinery - 25% on reducing balance

The company has adopted the policy of not depreciating the assets in the first year, however full depreciation is provided in the year of disposal.

Investment property
Investment property, which is property held to earn rentals, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure.

Subsequently it is measured at fair value at the reporting date. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Deferred tax is provided on these gains at the rate expected to apply if the property is sold at the balance sheet date


ALECHAR INVESTMENTS LTD (REGISTERED NUMBER: 13729625)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 30 NOVEMBER 2023

2. ACCOUNTING POLICIES - continued

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 material 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.

Cash and cash equivalents
Cash and cash equivalents in the statement of financial position comprise cash at banks and in hand, short term deposits with an original maturity date of one month. Cash equivalents are defined as short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value.

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
£   
COST
At 1 December 2022
and 30 November 2023 2,500
DEPRECIATION
Charge for year 625
At 30 November 2023 625
NET BOOK VALUE
At 30 November 2023 1,875
At 30 November 2022 2,500

ALECHAR INVESTMENTS LTD (REGISTERED NUMBER: 13729625)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 30 NOVEMBER 2023

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 December 2022
and 30 November 2023 197,157
NET BOOK VALUE
At 30 November 2023 197,157
At 30 November 2022 197,157

Investment property was valued on an open market basis on 30 November 2023 by the director of the company.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 120 -

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 120 120
Taxation and social security 324 757
Other creditors 193,726 194,552
194,170 195,429

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

Included in the other creditors more than one year, is an amount of £192,887 (2022: £193,134) due to the director of the company. The amount was interest free and repayable on demand.