2022-12-012023-11-302023-11-30false11069164Allens Corporate Estates 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Allens Corporate Estates Limited

Registered Number
11069164
(England and Wales)

Unaudited Financial Statements for the Year ended
30 November 2023

Allens Corporate Estates Limited
Company Information
for the year from 1 December 2022 to 30 November 2023

Directors

M B Cox
P A Cox

Registered Address

21a Newland
Lincoln
LN1 1XP

Place of Business

Allens Business Park

Saxilby

Lincolnshire

LN1 2GH


Registered Number

11069164 (England and Wales)
Allens Corporate Estates Limited
Balance Sheet as at
30 November 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets5110,842117,683
Investment property61,336,3261,313,740
1,447,1681,431,423
Current assets
Debtors7346,829269,931
Cash at bank and on hand57,78959,999
404,618329,930
Creditors amounts falling due within one year8(248,392)(233,881)
Net current assets (liabilities)156,22696,049
Total assets less current liabilities1,603,3941,527,472
Creditors amounts falling due after one year9(993,175)(1,072,977)
Provisions for liabilities10(25,506)(22,360)
Net assets584,713432,135
Capital and reserves
Called up share capital100100
Profit and loss account584,613432,035
Shareholders' funds584,713432,135
The financial statements were approved and authorised for issue by the Board of Directors on 1 July 2024, and are signed on its behalf by:
M B Cox
Director
Registered Company No. 11069164
Allens Corporate Estates Limited
Notes to the Financial Statements
for the year ended 30 November 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Accounting policies
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Plant and machinery10
Fixtures and fittings10
Vehicles10
Office Equipment10
Investment property policy
Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.
Revenue recognition policy
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Deferred tax policy
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation and operations policy
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leases policy
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
4.Employee information

20232022
Average number of employees during the year11
5.Property, plant and equipment

Plant & machinery

Vehicles

Fixtures & fittings

Office Equipment

Total

£££££
Cost or valuation
At 01 December 22131,04416,0501,9002,283151,277
Additions3,751-3511,3815,483
At 30 November 23134,79516,0502,2513,664156,760
Depreciation and impairment
At 01 December 2230,1222,26265455633,594
Charge for year10,4741,37916031112,324
At 30 November 2340,5963,64181486745,918
Net book value
At 30 November 2394,19912,4091,4372,797110,842
At 30 November 22100,92213,7881,2461,727117,683
6.Investment property
There has been no valuation of investment property by an independent valuer, however the directors have reviewed the valuation of the property and feel that the value in the accounts reflects the current fair value.

£
Fair value at 01 December 221,313,740
Additions22,586
At 30 November 231,336,326
7.Debtors

2023

2022

££
Trade debtors / trade receivables25,4925,050
Other debtors313,337259,380
Prepayments and accrued income8,0005,501
Total346,829269,931
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
8.Creditors within one year

2023

2022

££
Trade creditors / trade payables62,46167,214
Bank borrowings and overdrafts58,75858,758
Taxation and social security90,08767,100
Finance lease and HP contracts-11,069
Other creditors22,7431,193
Accrued liabilities and deferred income14,34328,547
Total248,392233,881
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. £48,758 of the bank borrowings are secured creditors.
9.Creditors after one year

2023

2022

££
Bank borrowings and overdrafts534,925614,727
Other creditors458,250458,250
Total993,1751,072,977
£519,925 of the bank borrowings are secured creditors.
10.Provisions for liabilities

2023

2022

££
Net deferred tax liability (asset)25,50622,360
Total25,50622,360