Registered number
13930401
Adelaide House Developments Limited
Filleted Accounts
29 February 2024
Adelaide House Developments Limited
Registered number: 13930401
Balance Sheet
as at 29 February 2024
Notes 2024 2023
£ £
Current assets
Stocks 1,707,454 1,156,029
Debtors 3 324,914 181,899
Cash at bank and in hand 322 22,499
2,032,690 1,360,427
Creditors: amounts falling due within one year 4 (2,028,822) (1,359,163)
Net current assets 3,868 1,264
Net assets 3,868 1,264
Capital and reserves
Called up share capital 100 100
Profit and loss account 3,768 1,164
Shareholders' funds 3,868 1,264
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Sunder Kripalani
Director
Approved by the board on 27 November 2024
Adelaide House Developments Limited
Notes to the Accounts
for the year ended 29 February 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Income
Income is measured at the fair value of the consideration received or receivable. Turnover includes revenue earned from the Sale of Properties held in stock and option fees.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
3 Debtors 2024 2023
£ £
Other debtors 324,914 181,899
4 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 734 483
Other creditors 2,028,088 1,358,680
2,028,822 1,359,163
5 Transactions with directors
At the year end the director owed the company £121,000 [2023 (£1,600)] This was
repaid within 9 months of the year end.
6 Related party transactions 2024 2023
£ £
Lemon Properties Limited
The company is related to Lemon Properties Limited by virtue of common control. The amount due to and from these related parties at the year end were as follows:
Amount due (to) / from Lemon Properties Limited. 52,972 54,972
Leeds1 Properties Limited
The company is related to Leeds1 Properties Limited by virtue of common control. The amount due to and from these related parties at the year end were as follows:
Amount due (to) / from Leeds1 Properties Limited (40,789) -
Leeds2 Properties Limited
The company is related to Leeds2 Properties Limited by virtue of common control. The amount due to and from these related parties at the year end were as follows:
Amount due (to) / from Leeds2 Properties Limited 20,039 (23,487)
Penn Investments Limited
The company is related to Penn Investments Limited by virtue of common control. The amount due to and from these related parties at the year end were as follows:
Amount due (to) / from Leeds2 Properties Limited 19,855 77,110
24 Church Street Developments Limited
The company is related to 24 Church Street Developments Limited by virtue of common control. The amount due to and from these related parties at the year end were as follows:
The amount due (to) / from 24 Church Street Developments Limited 61,937 40,437
Benz Travel Limited
The company is related to Benz Travel Limited by virtue of common control. The amount due to and from these related parties at the year end were as follows:
The amount due (to) / from Benz Travel Limited (60,193) (30,193)
New Look Properties Limited
The company is related to New Look Properties Limited by virtue of common control. The amount due to and from these related parties at the year end were as follows:
The amount due (to) / from New Look Properties Limited 3,300 (2,500)
The loan was interest free.
Fountain Street Developments Limited
The company is related to Fountain Street Developments Limited by virtue of common control. The amount due to and from these related parties at the year end were as follows:
The amount due (to) / from Fairway Motel Developments Limited 38,700 -
Fairway Motel Developments Limited
The company is related to Fairway Motel Developments Limited by virtue of common control. The amount due to and from these related parties at the year end were as follows:
The amount due (to) / from Fairway Motel Developments Limited (30,000) -
7 Controlling party
The company is controlled jointly by Mr Sunder Kripalani and Mrs Sarita Kripalani by virtue of their 100% shareholding in the issued share capital of the company.
8 Other information
Adelaide House Developments Limited is a private company limited by shares and incorporated in England. Its registered office is:
Suite-11, Boundary House
Boston Road
London
England
W7 2QE
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