3 false false false false false false false false false false true false false false false false false No description of principal activity 2023-04-01 Sage Accounts Production Advanced 2023 - FRS102_2023 4,115,000 45,818 118,000 4,042,818 4,042,818 4,115,000 79,900 3,790 83,690 83,690 79,900 xbrli:pure xbrli:shares iso4217:GBP 10119921 2023-04-01 2024-03-31 10119921 2024-03-31 10119921 2023-03-31 10119921 2022-04-01 2023-03-31 10119921 2023-03-31 10119921 2022-03-31 10119921 bus:Director1 2023-04-01 2024-03-31 10119921 core:LandBuildings 2023-04-01 2024-03-31 10119921 core:WithinOneYear 2024-03-31 10119921 core:WithinOneYear 2023-03-31 10119921 core:AfterOneYear 2024-03-31 10119921 core:AfterOneYear 2023-03-31 10119921 core:ShareCapital 2024-03-31 10119921 core:ShareCapital 2023-03-31 10119921 core:SharePremium 2024-03-31 10119921 core:SharePremium 2023-03-31 10119921 core:RevaluationReserve 2024-03-31 10119921 core:RevaluationReserve 2023-03-31 10119921 core:RetainedEarningsAccumulatedLosses 2024-03-31 10119921 core:RetainedEarningsAccumulatedLosses 2023-03-31 10119921 core:CostValuation core:Non-currentFinancialInstruments 2023-03-31 10119921 core:Non-currentFinancialInstruments core:RevaluationsIncreaseDecreaseInInvestments 2024-03-31 10119921 core:CostValuation core:Non-currentFinancialInstruments 2024-03-31 10119921 core:Non-currentFinancialInstruments 2024-03-31 10119921 core:Non-currentFinancialInstruments 2023-03-31 10119921 core:LandBuildings 2024-03-31 10119921 core:LandBuildings 2023-03-31 10119921 core:LandBuildings 2023-03-31 10119921 bus:SmallEntities 2023-04-01 2024-03-31 10119921 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 10119921 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 10119921 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 10119921 bus:FullAccounts 2023-04-01 2024-03-31 10119921 core:AllAssociates 2023-04-01 2024-03-31
COMPANY REGISTRATION NUMBER: 10119921
Excelsior Alpha Limited
Filleted Unaudited Financial Statements
31 March 2024
Excelsior Alpha Limited
Financial Statements
Year ended 31 March 2024
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
Excelsior Alpha Limited
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
6
4,042,818
4,115,000
Investments
7
83,690
79,900
------------
------------
4,126,508
4,194,900
Current assets
Debtors
8
430,118
493,015
Cash at bank and in hand
236,695
267,906
---------
---------
666,813
760,921
Creditors: amounts falling due within one year
9
1,416,532
1,505,470
------------
------------
Net current liabilities
749,719
744,549
------------
------------
Total assets less current liabilities
3,376,789
3,450,351
Creditors: amounts falling due after more than one year
10
1,956,043
1,976,043
Provisions
Taxation including deferred tax
185,569
203,789
------------
------------
Net assets
1,235,177
1,270,519
------------
------------
Capital and reserves
Called up share capital
465,000
465,000
Share premium account
16,381
16,381
Revaluation reserve
957,656
1,033,080
Profit and loss account
( 203,860)
( 243,942)
------------
------------
Shareholders funds
1,235,177
1,270,519
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the 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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Excelsior Alpha Limited
Statement of Financial Position (continued)
31 March 2024
These financial statements were approved by the board of directors and authorised for issue on 6 September 2024 , and are signed on behalf of the board by:
Mr A K West
Director
Company registration number: 10119921
Excelsior Alpha Limited
Notes to the Financial Statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 1 Oxford Street, Whitstable, CT5 1DB, England.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for rent, net of discounts and Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Investment property Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss. If a reliable measure of fair value is no longer available without undue cost or effort for an item of investment property, it shall be transferred to tangible assets and treated as such until it is expected that fair value will be reliably measurable on an on-going basis.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2023: 3 ).
5. Tax on (loss)/profit
Major components of tax (income)/expense
2024
2023
£
£
Deferred tax:
Origination and reversal of timing differences
( 18,220)
69,134
--------
--------
Tax on (loss)/profit
( 18,220)
69,134
--------
--------
6. Tangible assets
Land and buildings
£
Cost or valuation
At 1 April 2023
4,115,000
Additions
45,818
Revaluations
( 118,000)
------------
At 31 March 2024
4,042,818
------------
Depreciation
At 1 April 2023 and 31 March 2024
------------
Carrying amount
At 31 March 2024
4,042,818
------------
At 31 March 2023
4,115,000
------------
Tangible assets held at valuation
The company's land and buildings represent investment property. In accordance with FRS 102 no depreciation is charged and the property is included on the balance sheet at the market value as established by the company.
7. Investments
Shares in group undertakings
£
Cost
At 1 April 2023
79,900
Revaluations
3,790
--------
At 31 March 2024
83,690
--------
Impairment
At 1 April 2023 and 31 March 2024
--------
Carrying amount
At 31 March 2024
83,690
--------
At 31 March 2023
79,900
--------
8. Debtors
2024
2023
£
£
Trade debtors
9,326
11,900
Amounts owed by group undertakings and undertakings in which the company has a participating interest
330,013
370,013
Other debtors
90,779
111,102
---------
---------
430,118
493,015
---------
---------
9. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
10,000
10,000
Trade creditors
5,908
( 294)
Social security and other taxes
5,196
Shareholder linked loans
1,297,260
1,395,000
Other creditors
98,168
100,764
------------
------------
1,416,532
1,505,470
------------
------------
Amounts included in bank loans and overdrafts are secured by the company against its land and buildings.
10. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
1,956,043
1,966,043
Other creditors
10,000
------------
------------
1,956,043
1,976,043
------------
------------
Amounts included in bank loans and overdrafts are secured by the company against its land and buildings.
11. Related party transactions
At the year end the company was owed £330,013 (2023: £370,013) by a group company.