Company Registration No. 10591402 (England and Wales)
Albendan Limited
Unaudited accounts
for the year ended 31 January 2024
Albendan Limited
Unaudited accounts
Contents
Albendan Limited
Company Information
for the year ended 31 January 2024
Company Number
10591402 (England and Wales)
Registered Office
HYPERION HOUSE 1ST FLOOR, THE OAKS
FORDHAM ROAD
NEWMARKET
CB8 7XN
ENGLAND
Accountants
Azoth Digital Accountants
Jonathan Scott Hall
Thorpe Road
Norwich
Norfolk
NR1 1UH
Albendan Limited
Statement of financial position
as at 31 January 2024
Tangible assets
5,213,487
5,002,317
Inventories
307,672
307,672
Debtors
6,841,209
8,818,575
Cash at bank and in hand
135,748
1,174,532
Creditors: amounts falling due within one year
(39,763)
(653,866)
Net current assets
7,244,866
9,646,913
Total assets less current liabilities
12,458,353
14,649,230
Creditors: amounts falling due after more than one year
(16,932,548)
(17,900,198)
Net liabilities
(4,474,195)
(3,250,968)
Called up share capital
150
150
Profit and loss account
(4,474,345)
(3,251,118)
Shareholders' funds
(4,474,195)
(3,250,968)
For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 21 October 2024 and were signed on its behalf by
Derek Watts
Director
Company Registration No. 10591402
Albendan Limited
Notes to the Accounts
for the year ended 31 January 2024
Albendan Limited is a private company, limited by shares, registered in England and Wales, registration number 10591402. The registered office is HYPERION HOUSE 1ST FLOOR, THE OAKS, FORDHAM ROAD, NEWMARKET, CB8 7XN, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
5 years straight line
4
Tangible fixed assets
Land & buildings
Fixtures & fittings
Total
Cost or valuation
At valuation
At cost
At 1 February 2023
4,998,042
8,845
5,006,887
Revaluations
212,569
-
212,569
At 31 January 2024
5,210,981
8,845
5,219,826
At 1 February 2023
-
4,570
4,570
Charge for the year
-
1,769
1,769
At 31 January 2024
-
6,339
6,339
At 31 January 2024
5,210,981
2,506
5,213,487
At 31 January 2023
4,998,042
4,275
5,002,317
Albendan Limited
Notes to the Accounts
for the year ended 31 January 2024
Amounts falling due within one year
Amounts due from group undertakings etc.
1,449,573
927,531
Deferred tax asset
867,589
1,056,687
Accrued income and prepayments
512,265
2,121,141
Other debtors
20,502
20,502
Amounts falling due after more than one year
Amounts due from group undertakings etc.
3,714,425
4,497,461
6
Creditors: amounts falling due within one year
2024
2023
Trade creditors
13,293
(57,595)
Amounts owed to group undertakings and other participating interests
300,001
300,001
Taxes and social security
(907)
233
Other creditors
76,104
34,387
Loans from directors
(377,734)
363,339
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Creditors: amounts falling due after more than one year
2024
2023
Amounts owed to group undertakings and other participating interests
3,109,370
3,409,370
Other creditors
13,823,178
14,490,828
Albendan Limited
Notes to the Accounts
for the year ended 31 January 2024
8
Transactions with related parties
Shareholders
Ownership and control
At the beginning of the year the shareholders were owed £ 14,490,677 from the company. During the year, the shareholders did not provided additional loans to the company. During the year, the company paid back £ 667,500.00 of the total borrowing. As of 31st January 2024, the balance of the loan was £13,823,178. This loan is interest free and has no formal repayment terms, it has therefore been included within creditors falling due after more than one year.
Isofield Limited
Common Management
The balance at 31st January 2024 was NIL. The loan was interest free and repayable on demand.
TC Property Developments Ltd
Common Management
The company invoiced a third party for works carried out by T C Property. The amount concerned was £15,859. This was repayable on demand. The balance has been included within 'Amounts owed to related parties' The company has also undertaken a build project with TC Properties to build a house for cost plus a 15% mark up. These costs have been included within cost of sales and held as work in progress at year end. The total expenditure during the year was NIL (2023:£15,859).
Benaldan Loan
Common Management
The opening Inter-Company loan was £3,409,370 (2023). During the year, the loan was returned by £300,000. Thereby the closing balance £3,109,370.
9
Average number of employees
During the year the average number of employees was 3 (2023: 3).