IRIS Accounts Production v24.3.0.553 11820018 Board of Directors 1.3.23 29.2.24 29.2.24 0 0 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh118200182023-02-28118200182024-02-29118200182023-03-012024-02-29118200182022-02-28118200182022-03-012023-02-28118200182023-02-2811820018ns15:EnglandWales2023-03-012024-02-2911820018ns14:PoundSterling2023-03-012024-02-2911820018ns10:Director12023-03-012024-02-2911820018ns10:PrivateLimitedCompanyLtd2023-03-012024-02-2911820018ns10:SmallEntities2023-03-012024-02-2911820018ns10:AuditExempt-NoAccountantsReport2023-03-012024-02-2911820018ns10:SmallCompaniesRegimeForDirectorsReport2023-03-012024-02-2911820018ns10:SmallCompaniesRegimeForAccounts2023-03-012024-02-2911820018ns10:FullAccounts2023-03-012024-02-2911820018ns10:Director22023-03-012024-02-2911820018ns10:Director32023-03-012024-02-2911820018ns10:RegisteredOffice2023-03-012024-02-2911820018ns5:CurrentFinancialInstruments2024-02-2911820018ns5:CurrentFinancialInstruments2023-02-2811820018ns5:Non-currentFinancialInstruments2024-02-2911820018ns5:Non-currentFinancialInstruments2023-02-2811820018ns5:ShareCapital2024-02-2911820018ns5:ShareCapital2023-02-2811820018ns5:RevaluationReserve2024-02-2911820018ns5:RevaluationReserve2023-02-2811820018ns5:RetainedEarningsAccumulatedLosses2024-02-2911820018ns5:RetainedEarningsAccumulatedLosses2023-02-2811820018ns5:WithinOneYearns5:CurrentFinancialInstruments2024-02-2911820018ns5:WithinOneYearns5:CurrentFinancialInstruments2023-02-2811820018ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2024-02-2911820018ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2023-02-2811820018ns5:Secured2024-02-2911820018ns5:Secured2023-02-28
REGISTERED NUMBER: 11820018 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

ALELAV LIMITED

ALELAV LIMITED (REGISTERED NUMBER: 11820018)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


ALELAV LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTORS: M A Ioannou
K Kyprianou
C Ioannou





REGISTERED OFFICE: 869 High Road
London
N12 8QA





REGISTERED NUMBER: 11820018 (England and Wales)





ACCOUNTANTS: EA
Chartered Accountants
869 High Road
London
N12 8QA

ALELAV LIMITED (REGISTERED NUMBER: 11820018)

STATEMENT OF FINANCIAL POSITION
29 FEBRUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 625,000 625,000

CURRENT ASSETS
Debtors 5 2,535 -
Cash at bank and in hand 765 3,598
3,300 3,598
CREDITORS
Amounts falling due within one year 6 382,764 372,317
NET CURRENT LIABILITIES (379,464 ) (368,719 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

245,536

256,281

CREDITORS
Amounts falling due after more than one
year

7

(206,050

)

(206,050

)

PROVISIONS FOR LIABILITIES (5,764 ) (5,764 )
NET ASSETS 33,722 44,467

CAPITAL AND RESERVES
Called up share capital 100 100
Non-distributable reserves 24,574 24,574
Retained earnings 9,048 19,793
SHAREHOLDERS' FUNDS 33,722 44,467

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 October 2024 and were signed on its behalf by:





K Kyprianou - Director


ALELAV LIMITED (REGISTERED NUMBER: 11820018)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1. STATUTORY INFORMATION

Alelav 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.

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 properties are carried at fair values. Revaluation surpluses are recognised in the statement of income. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold. No depreciation is provided in respect of investment properties.

The Companies Act 2006 requires all properties to be depreciated. However, this requirement conflicts with the generally accepted accounting principle set out in The Financial Reporting Standard 102 (Section 1A) for small entities. The director considers that, because these properties are not held for consumption but for their investment potential, to depreciate them would not give a true and fair view and that it is necessary to adopt The Financial Reporting Standard 102 (Section 1A) for Smaller Entities in order to give a true and fair view. If this departure from the Act had not been made, the profit for the financial year would have been reduced by the amount of depreciation.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 (2023 - NIL).

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2023
and 29 February 2024 625,000
NET BOOK VALUE
At 29 February 2024 625,000
At 28 February 2023 625,000

ALELAV LIMITED (REGISTERED NUMBER: 11820018)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

4. INVESTMENT PROPERTY - continued

Fair value at 29 February 2024 is represented by:
£   
Valuation in 2024 30,338
Cost 594,662
625,000

If investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 594,662 594,662

Investment property was valued on a fair value basis on 28 February 2021 by professional valuers .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 2,535 -

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors - 217
Amounts owed to participating interests 74,050 -
Taxation and social security - 1,019
Other creditors 308,714 371,081
382,764 372,317

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 206,050 206,050

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loan due in more than 5
years non-installment 206,050 206,050
206,050 206,050

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 206,050 206,050

The loan is secured by way of fixed and floating legal charge on the investment property of the company.

9. RELATED PARTY DISCLOSURES

Within creditors, amounts falling due within one year, is an interest free amount of £307,274 (2023: £369,522) due to the directors of the company.