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REGISTERED NUMBER: 13045280 (England and Wales)









Financial Statements

for the Year Ended 31 March 2024

for

AAL Estates Ltd

AAL Estates Ltd (Registered number: 13045280)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


AAL Estates Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTORS: M Varvani
Mrs A Varvani





REGISTERED OFFICE: 28 Church Road
Stanmore
Middlesex
HA7 4XR





REGISTERED NUMBER: 13045280 (England and Wales)





ACCOUNTANTS: Parker Cavendish
Chartered Accountants
28 Church Road
Stanmore
Middlesex
HA7 4XR

AAL Estates Ltd (Registered number: 13045280)

Balance Sheet
31 March 2024

2024 2023
Notes £    £   
FIXED ASSETS
Investment property 4 948,475 948,475

CURRENT ASSETS
Debtors 5 5,661 -
Cash at bank 8,057 5,250
13,718 5,250
CREDITORS
Amounts falling due within one year 6 (434,719 ) (437,500 )
NET CURRENT LIABILITIES (421,001 ) (432,250 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

527,474

516,225

CREDITORS
Amounts falling due after more than one year 7 (525,313 ) (525,313 )
NET ASSETS/(LIABILITIES) 2,161 (9,088 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 2,061 (9,188 )
2,161 (9,088 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 November 2024 and were signed on its behalf by:



M Varvani - Director


AAL Estates Ltd (Registered number: 13045280)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

AAL Estates Ltd 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, modified to include investment property at fair value.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 2 (2023 - 2 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 948,475
NET BOOK VALUE
At 31 March 2024 948,475
At 31 March 2023 948,475

AAL Estates Ltd (Registered number: 13045280)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. INVESTMENT PROPERTY - continued

The fair value of the investment properties has been arrived at on the basis of a valuation carried out at 31 March 2024 by the directors of the company. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

If investment property was stated on a historical cost basis rather than that of the fair value basis, the amount recognised in the accounts would also have been £948,475 (2023: £948,475).

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 5,661 -

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 493 -
Other creditors 434,226 437,500
434,719 437,500

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 525,313 525,313

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 525,313 525,313

The company has taken out two mortgages with Precise Mortgages. Repayments are interest only, charged over a term of 25 years.

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included within other debtors at the year end is an aggregate amount of £5,662 (2023: £1,400 other creditors) due from the directors M Varvani and A Varvani.

There have been no advances which individually were considered material and no advances exceeding £20,000 to the directors in the year under review.

9. RELATED PARTY DISCLOSURES

Included within other creditors at the year end is an amount of £434,226 (2023: £434,000) due to Allmetals Trading Ltd, a company in which the directors have an interest in. This amount has been provided unsecured, interest free and is repayable on demand.