ALBRIN CAPITAL LIMITED |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2023 |
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: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
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 |
Investments | 5 |
Investment property | 6 |
CURRENT ASSETS |
Debtors | 7 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
9 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 11 |
Retained earnings | 12 |
SHAREHOLDERS' FUNDS |
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 |
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 |
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 |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Tangible fixed assets |
Fixtures and fittings | - |
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 |
DEPRECIATION |
At 1st September 2022 |
Charge for year |
At 31st August 2023 |
NET BOOK VALUE |
At 31st August 2023 |
At 31st August 2022 |
5. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST OR VALUATION |
At 1st September 2022 |
Revaluations |
At 31st August 2023 |
NET BOOK VALUE |
At 31st August 2023 |
At 31st August 2022 |
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 |
Additions |
At 31st August 2023 |
NET BOOK VALUE |
At 31st August 2023 |
At 31st August 2022 |
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 |
Amounts owed by associates |
Other debtors |
Amounts falling due after more than one year: |
Amounts owed by associates |
Aggregate amounts |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.8.23 | 31.8.22 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Amounts owed to associates | 5,791,550 | 5,219,742 |
Taxation and social security |
Other creditors |
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 |
Other creditors |
10. | SECURED DEBTS |
The following secured debts are included within creditors: |
31.8.23 | 31.8.22 |
£ | £ |
Bank loans |
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: | £ | £ |
ordinary | £1 | 539,500 | 539,500 |
12. | RESERVES |
Retained |
earnings |
£ |
At 1st September 2022 |
Profit for the year |
At 31st August 2023 |
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. |