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Company Registration No. 10591402 (England and Wales)
Albendan Limited Unaudited accounts for the year ended 31 January 2024
Albendan Limited Unaudited accounts Contents
Page
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Albendan Limited Company Information for the year ended 31 January 2024
Director
Derek Watts
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
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Albendan Limited Statement of financial position as at 31 January 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
5,213,487 
5,002,317 
Current assets
Inventories
307,672 
307,672 
Debtors
6,841,209 
8,818,575 
Cash at bank and in hand
135,748 
1,174,532 
7,284,629 
10,300,779 
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)
Capital and reserves
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
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Albendan Limited Notes to the Accounts for the year ended 31 January 2024
1
Statutory information
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
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 
Additions
370 
- 
370 
Revaluations
212,569 
- 
212,569 
At 31 January 2024
5,210,981 
8,845 
5,219,826 
Depreciation
At 1 February 2023
- 
4,570 
4,570 
Charge for the year
- 
1,769 
1,769 
At 31 January 2024
- 
6,339 
6,339 
Net book value
At 31 January 2024
5,210,981 
2,506 
5,213,487 
At 31 January 2023
4,998,042 
4,275 
5,002,317 
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Albendan Limited Notes to the Accounts for the year ended 31 January 2024
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
- 
195,253 
Trade debtors
276,855 
- 
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 
3,126,784 
4,321,114 
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 
£ 
£ 
VAT
1,917 
1,501 
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 
Accruals
13,200 
12,000 
Deferred income
13,889 
- 
39,763 
653,866 
7
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 
16,932,548 
17,900,198 
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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).
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