Altitude Homes Ltd 14548757 false 2022-12-19 2024-03-31 2024-03-31 The principal activity of the company is Renting out properties Digita Accounts Production Advanced 6.30.9574.0 true true 14548757 2022-12-19 2024-03-31 14548757 2024-03-31 14548757 core:RetainedEarningsAccumulatedLosses 2024-03-31 14548757 core:ShareCapital 2024-03-31 14548757 core:CurrentFinancialInstruments 2024-03-31 14548757 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 14548757 bus:SmallEntities 2022-12-19 2024-03-31 14548757 bus:AuditExemptWithAccountantsReport 2022-12-19 2024-03-31 14548757 bus:FilletedAccounts 2022-12-19 2024-03-31 14548757 bus:SmallCompaniesRegimeForAccounts 2022-12-19 2024-03-31 14548757 bus:RegisteredOffice 2022-12-19 2024-03-31 14548757 bus:Director1 2022-12-19 2024-03-31 14548757 bus:Director2 2022-12-19 2024-03-31 14548757 bus:Director3 2022-12-19 2024-03-31 14548757 bus:Director4 2022-12-19 2024-03-31 14548757 bus:PrivateLimitedCompanyLtd 2022-12-19 2024-03-31 14548757 core:LandBuildings 2022-12-19 2024-03-31 14548757 countries:England 2022-12-19 2024-03-31 iso4217:GBP xbrli:pure

Registration number: 14548757

Altitude Homes Ltd

Unaudited Filleted Financial Statements

for the Period from 19 December 2022 to 31 March 2024

 

Altitude Homes Ltd

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

Altitude Homes Ltd

Company Information

Directors

Mr AR Insley

Mrs JA Insley

Mrs LA Evans

Mr P A Evans

Registered office

36 Diddington Lane
Hampton in Arden
Solihull
B92 0BZ

Accountants

Ballards LLP
Chartered Accountants
Oakmoore Court
11c Kingswood Road
Hampton Lovett
Droitwich
Worcestershire
WR9 0QH

 

Altitude Homes Ltd

(Registration number: 14548757)
Balance Sheet as at 31 March 2024

Note

2024
£

Fixed assets

 

Investment property

4

1,309,160

Current assets

 

Debtors

5

6,040

Cash at bank and in hand

 

27,768

 

33,808

Creditors: Amounts falling due within one year

6

(1,340,768)

Net current liabilities

 

(1,306,960)

Net assets

 

2,200

Capital and reserves

 

Called up share capital

1

Retained earnings

2,199

Shareholders' funds

 

2,200

For the financial period 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 members have not required the company to obtain an audit of its accounts for the period 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 13 September 2024 and signed on its behalf by:
 

.........................................
Mrs LA Evans
Director

   
     
 

Altitude Homes Ltd

Notes to the Unaudited Financial Statements for the Period from 19 December 2022 to 31 March 2024

1

General information

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

The address of its registered office is:
36 Diddington Lane
Hampton in Arden
Solihull
B92 0BZ

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.

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.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Depreciation

Asset class

Depreciation method and rate

Investment properties

No depreciation

 

Altitude Homes Ltd

Notes to the Unaudited Financial Statements for the Period from 19 December 2022 to 31 March 2024

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. 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.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 2.

 

Altitude Homes Ltd

Notes to the Unaudited Financial Statements for the Period from 19 December 2022 to 31 March 2024

4

Investment properties

2024
£

Additions

1,309,160

At 31 March

1,309,160

There has been no valuation of investment property by an independent valuer.

5

Debtors

Current

2024
£

Trade debtors

1,902

Prepayments

4,138

 

6,040

6

Creditors

Creditors: amounts falling due within one year

2024
£

Due within one year

Trade creditors

2,597

Taxation and social security

516

Accruals and deferred income

3,250

Other creditors

1,334,405

1,340,768