Alco Estates Limited 00478747 false 2023-01-01 2023-12-31 2023-12-31 The principal activity of the company is that of property development, farm lettings and the provision of finance Digita Accounts Production Advanced 6.30.9574.0 true true 00478747 2023-01-01 2023-12-31 00478747 2023-12-31 00478747 core:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-12-31 00478747 core:CurrentFinancialInstruments 2023-12-31 00478747 core:CurrentFinancialInstruments core:WithinOneYear 2023-12-31 00478747 core:ConstructionInProgressAssetsUnderConstruction 2023-12-31 00478747 core:FurnitureFittingsToolsEquipment 2023-12-31 00478747 core:LandBuildings 2023-12-31 00478747 bus:SmallEntities 2023-01-01 2023-12-31 00478747 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 00478747 bus:FullAccounts 2023-01-01 2023-12-31 00478747 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 00478747 bus:RegisteredOffice 2023-01-01 2023-12-31 00478747 bus:Director1 2023-01-01 2023-12-31 00478747 bus:Director2 2023-01-01 2023-12-31 00478747 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 00478747 core:ConstructionInProgressAssetsUnderConstruction 2023-01-01 2023-12-31 00478747 core:FurnitureFittings 2023-01-01 2023-12-31 00478747 core:FurnitureFittingsToolsEquipment 2023-01-01 2023-12-31 00478747 core:LandBuildings 2023-01-01 2023-12-31 00478747 core:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 00478747 core:PlantMachinery 2023-01-01 2023-12-31 00478747 countries:England 2023-01-01 2023-12-31 00478747 2022-12-31 00478747 core:ConstructionInProgressAssetsUnderConstruction 2022-12-31 00478747 core:FurnitureFittingsToolsEquipment 2022-12-31 00478747 core:LandBuildings 2022-12-31 00478747 2022-01-01 2022-12-31 00478747 2022-12-31 00478747 core:CurrentFinancialInstruments 2022-12-31 00478747 core:CurrentFinancialInstruments core:WithinOneYear 2022-12-31 00478747 core:ConstructionInProgressAssetsUnderConstruction 2022-12-31 00478747 core:FurnitureFittingsToolsEquipment 2022-12-31 00478747 core:LandBuildings 2022-12-31 iso4217:GBP xbrli:pure

Registration number: 00478747

Alco Estates Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

Alco Estates Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Alco Estates Limited

Company Information

Directors

Mr Alexander Graham Guy Henshaw

Mrs Judith Margaret Henshaw

Registered office

Boathouse
Sandhurst Road
Sandilands
Sutton On Sea
Lincolnshire
LN12 2RH

Solicitors

Roythorne & Co
10 Pinchbeck Road
Spalding
Lincolnshire
PE11 1PZ

 

Alco Estates Limited

(Registration number: 00478747)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

6,858,915

6,859,075

Other financial assets

5

5,311,085

5,033,173

 

12,170,000

11,892,248

Current assets

 

Debtors

6

219,233

243,589

Cash at bank and in hand

 

249,598

219,135

 

468,831

462,724

Creditors: Amounts falling due within one year

7

(267,033)

(211,082)

Net current assets

 

201,798

251,642

Total assets less current liabilities

 

12,371,798

12,143,890

Provisions for liabilities

(813,644)

(738,415)

Net assets

 

11,558,154

11,405,475

Capital and reserves

 

Called up share capital

5,000

5,000

Revaluation reserve

5,931,407

5,931,152

Other reserves

(283,828)

(509,561)

Retained earnings

5,905,575

5,978,884

Shareholders' funds

 

11,558,154

11,405,475

For the financial 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 accounts for the year in question in accordance with section 476; and

The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the Directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 18 July 2024 and signed on its behalf by:
 

.........................................
Mr Alexander Graham Guy Henshaw
Director

 

Alco Estates Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

The Company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Boathouse
Sandhurst Road
Sandilands
Sutton On Sea
Lincolnshire
LN12 2RH

These financial statements were authorised for issue by the Board on 18 July 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements have been prepared in sterling and are rounded to the nearest pound.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Land and buildings

Depreciation not provided on freehold land and buildings

 

Alco Estates Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Plant and machinery

20% per annum on net book value

Fixtures and fittings

25% per annum on net book value

Other tangibles

15% per annum on net book value

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Pension

The company contributes into the directors individual pensions. The amounts paid in the year are recognised in the profit and loss account.

3

Staff numbers

The average number of persons employed by the Company (including Directors) during the year, was 2 (2022 - 2).

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Other Tangible assets
£

Total
£

Cost or valuation

At 1 January 2023

6,858,433

6,822

35,324

6,900,579

Revaluations

121

-

-

121

Disposals

(121)

-

-

(121)

At 31 December 2023

6,858,433

6,822

35,324

6,900,579

Depreciation

At 1 January 2023

-

6,180

35,324

41,504

Charge for the year

-

160

-

160

At 31 December 2023

-

6,340

35,324

41,664

Carrying amount

At 31 December 2023

6,858,433

482

-

6,858,915

At 31 December 2022

6,858,433

642

-

6,859,075

Revaluation

The fair value of the Company's Investment land and properties was revalued on 31 December 2023. An independent valuer was not involved.
The basis of this valuation was at current market value.
Had this class of asset been measured on a historical cost basis, the carrying amount would have been £435,794 (2022 - £435,914).

 

Alco Estates Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

5

Other financial assets (current and non-current)

Financial assets at fair value through profit and loss
£

Total
£

Non-current financial assets

Cost or valuation

At 1 January 2023

5,033,173

5,033,173

Fair value adjustments

419,962

419,962

Additions

1,026,935

1,026,935

Disposals

(1,168,985)

(1,168,985)

At 31 December 2023

5,311,085

5,311,085

Impairment

Carrying amount

At 31 December 2023

5,311,085

5,311,085

The fair value of the listed investments has been determined by using the market value of the investment provided by the stockbroker at the year end.

The fair value is £5,311,085 (2022: £5,033,173) and change in value included in the profit and loss account is £419,961(Credit) (2022 (£444,251(Debit)).

6

Debtors

Current

2023
£

2022
£

Trade debtors

216,996

231,859

Prepayments

207

467

Other debtors

2,030

11,263

 

219,233

243,589

Details of non-current trade and other debtors

£88,370 (2022 -£88,985) of Trade Debtors is classified as non current.

 

Alco Estates Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

179,261

86,554

Trade creditors

 

26,640

31,687

Taxation and social security

 

20,772

50,312

Accruals and deferred income

 

40,360

42,529

 

267,033

211,082