IRIS Accounts Production v24.2.0.383 09344364 Board of Directors 1.9.22 31.8.23 31.8.23 0 0 false true false false true false Fair value model ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh093443642022-08-31093443642023-08-31093443642022-09-012023-08-31093443642021-08-31093443642021-09-012022-08-31093443642022-08-3109344364ns15:EnglandWales2022-09-012023-08-3109344364ns14:PoundSterling2022-09-012023-08-3109344364ns10:Director12022-09-012023-08-3109344364ns10:PrivateLimitedCompanyLtd2022-09-012023-08-3109344364ns10:SmallEntities2022-09-012023-08-3109344364ns10:AuditExempt-NoAccountantsReport2022-09-012023-08-3109344364ns10:SmallCompaniesRegimeForDirectorsReport2022-09-012023-08-3109344364ns10:SmallCompaniesRegimeForAccounts2022-09-012023-08-3109344364ns10:FullAccounts2022-09-012023-08-3109344364ns10:EntityHasNeverTraded2022-09-012023-08-3109344364ns10:OrdinaryShareClass12022-09-012023-08-3109344364ns10:Director22022-09-012023-08-3109344364ns10:RegisteredOffice2022-09-012023-08-3109344364ns5:CurrentFinancialInstruments2023-08-3109344364ns5:CurrentFinancialInstruments2022-08-3109344364ns5:Non-currentFinancialInstruments2023-08-3109344364ns5:Non-currentFinancialInstruments2022-08-3109344364ns5:ShareCapital2023-08-3109344364ns5:ShareCapital2022-08-3109344364ns5:RetainedEarningsAccumulatedLosses2023-08-3109344364ns5:RetainedEarningsAccumulatedLosses2022-08-3109344364ns5:FurnitureFittings2022-09-012023-08-3109344364ns5:FurnitureFittings2022-08-3109344364ns5:FurnitureFittings2023-08-3109344364ns5:FurnitureFittings2022-08-3109344364ns5:CostValuation2022-08-3109344364ns5:RevaluationsIncreaseDecreaseInInvestments2023-08-3109344364ns5:CostValuation2023-08-3109344364ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-08-3109344364ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-08-3109344364ns5:Secured2023-08-3109344364ns5:Secured2022-08-3109344364ns10:OrdinaryShareClass12023-08-3109344364ns5:RetainedEarningsAccumulatedLosses2022-08-3109344364ns5:RetainedEarningsAccumulatedLosses2022-09-012023-08-31



























ALBRIN CAPITAL LIMITED

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2023






ALBRIN CAPITAL LIMITED (REGISTERED NUMBER: 09344364)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST AUGUST 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ALBRIN CAPITAL LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST AUGUST 2023







DIRECTORS: S P Fenn
Mrs S L Fenn





REGISTERED OFFICE: 2 Villiers Court
40 Upper Mulgrave Road
Cheam
Surrey
SM2 7AJ





REGISTERED NUMBER: 09344364 (England and Wales)





ACCOUNTANTS: Halsey & Co (Accountants) Ltd.
Chartered Certified Accountants
Registered Auditors
2 Villiers Court
40 Upper Mulgrave Road
Cheam
Surrey
SM2 7AJ

ALBRIN CAPITAL LIMITED (REGISTERED NUMBER: 09344364)

BALANCE SHEET
31ST AUGUST 2023

31.8.23 31.8.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 296,692 349,049
Investments 5 2,847,908 2,568,093
Investment property 6 13,048,224 12,972,902
16,192,824 15,890,044

CURRENT ASSETS
Debtors 7 1,744,685 1,633,634
Cash at bank and in hand 240,733 11,661
1,985,418 1,645,295
CREDITORS
Amounts falling due within one year 8 6,393,328 5,802,079
NET CURRENT LIABILITIES (4,407,910 ) (4,156,784 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

11,784,914

11,733,260

CREDITORS
Amounts falling due after more than one
year

9

(9,185,903

)

(9,300,526

)

PROVISIONS FOR LIABILITIES (173,006 ) (148,829 )
NET ASSETS 2,426,005 2,283,905

CAPITAL AND RESERVES
Called up share capital 11 539,500 539,500
Retained earnings 12 1,886,505 1,744,405
SHAREHOLDERS' FUNDS 2,426,005 2,283,905

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st August 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

ALBRIN CAPITAL LIMITED (REGISTERED NUMBER: 09344364)

BALANCE SHEET - continued
31ST AUGUST 2023


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 Board of Directors and authorised for issue on 23rd September 2024 and were signed on its behalf by:





S P Fenn - Director


ALBRIN CAPITAL LIMITED (REGISTERED NUMBER: 09344364)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST AUGUST 2023

1. STATUTORY INFORMATION

Albrin Capital Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 as modified by the revaluation of certain assets.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Investments in subsidiaries are accounted for using the equity method of accounting. Investments are included initially at cost with subsequent period's earnings or losses of the subsidiary reflected in the income statement.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments
Loan advances classed as "basic instruments" are presented net of interest and arrangement fees which are being amortised over the life of the loans based upon the sum of digits method.

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

3. EMPLOYEES AND DIRECTORS

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

ALBRIN CAPITAL LIMITED (REGISTERED NUMBER: 09344364)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST AUGUST 2023

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1st September 2022
and 31st August 2023 566,568
DEPRECIATION
At 1st September 2022 217,519
Charge for year 52,357
At 31st August 2023 269,876
NET BOOK VALUE
At 31st August 2023 296,692
At 31st August 2022 349,049

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST OR VALUATION
At 1st September 2022 2,568,093
Revaluations 279,815
At 31st August 2023 2,847,908
NET BOOK VALUE
At 31st August 2023 2,847,908
At 31st August 2022 2,568,093

Cost or valuation at 31st August 2023 is represented by:

Shares in
group
undertakings
£   
Valuation in 2020 782,322
Valuation in 2021 770,945
Valuation in 2022 (359,161 )
Valuation in 2023 279,815
Cost 1,373,987
2,847,908

Investments represent wholly owned subsidiaries. They are revalued and shares of profit/loss recognised each year.

ALBRIN CAPITAL LIMITED (REGISTERED NUMBER: 09344364)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST AUGUST 2023

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st September 2022 12,972,902
Additions 75,322
At 31st August 2023 13,048,224
NET BOOK VALUE
At 31st August 2023 13,048,224
At 31st August 2022 12,972,902

Freehold investment property is periodically revalued by the directors. A revaluation was carried out during the previous year using a professional agency and the value disclosed in these accounts fell between the two values they confirmed. No revaluation gain or loss has therefore been recognised in the year in respect of the property held.

7. DEBTORS
31.8.23 31.8.22
£    £   
Amounts falling due within one year:
Amounts owed by group undertakings 40,577 39,500
Amounts owed by associates 125,074 -
Other debtors 39,534 54,634
205,185 94,134

Amounts falling due after more than one year:
Amounts owed by associates 1,539,500 1,539,500

Aggregate amounts 1,744,685 1,633,634

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Trade creditors 78,710 29,415
Amounts owed to group undertakings 461,045 496,940
Amounts owed to associates 5,791,550 5,219,742
Taxation and social security 56,378 53,817
Other creditors 5,645 2,165
6,393,328 5,802,079

ALBRIN CAPITAL LIMITED (REGISTERED NUMBER: 09344364)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST AUGUST 2023

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.8.23 31.8.22
£    £   
Bank loans 6,723,081 6,837,704
Other creditors 2,462,822 2,462,822
9,185,903 9,300,526

10. SECURED DEBTS

The following secured debts are included within creditors:

31.8.23 31.8.22
£    £   
Bank loans 6,723,081 6,837,704

A fixed and floating charge over all assets is held by Cynergy Bank.

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.8.23 31.8.22
value: £    £   
539,500 ordinary £1 539,500 539,500

12. RESERVES
Retained
earnings
£   

At 1st September 2022 1,744,405
Profit for the year 142,100
At 31st August 2023 1,886,505

ALBRIN CAPITAL LIMITED (REGISTERED NUMBER: 09344364)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST AUGUST 2023

13. RELATED PARTY DISCLOSURES

At the year end, the company was owed sums as follows from related parties:

2023 2022
Albrin Property Ltd (subsidiary) 40,577 39,500
Albrin Subsidiary Ltd (associated company) 1,539,500 1,539,500
Origen Developments Ltd (associated company) 125,074

Amounts were owed to the following related parties:

2023 2022
Woodham House Ltd (subsidiary) 323,200 323,200
Fennies Day Nurseries Ltd (associated company) 5,791,550 4,834,816
Origen Developments Ltd (associated company) - 384,,926
41 Down Road Ltd (subsidiary) 137,845 173,740

Amounts were also owed to the director amounting to £2,462,822 (2022: £2,462,822). The amounts were interest free.

Origen Developments Ltd went into liquidation following the year end.

14. ULTIMATE CONTROLLING PARTY

The controlling party is S P Fenn.