Alterity Developments Limited 02187461 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is that of property development and sale of development land Digita Accounts Production Advanced 6.30.9574.0 true false true 02187461 2023-04-01 2024-03-31 02187461 2024-03-31 02187461 bus:OrdinaryShareClass1 2024-03-31 02187461 core:CurrentFinancialInstruments 2024-03-31 02187461 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 02187461 core:MotorVehicles 2024-03-31 02187461 core:OtherPropertyPlantEquipment 2024-03-31 02187461 bus:SmallEntities 2023-04-01 2024-03-31 02187461 bus:Audited 2023-04-01 2024-03-31 02187461 bus:FilletedAccounts 2023-04-01 2024-03-31 02187461 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 02187461 bus:RegisteredOffice 2023-04-01 2024-03-31 02187461 bus:Director1 2023-04-01 2024-03-31 02187461 bus:Director4 2023-04-01 2024-03-31 02187461 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 02187461 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 02187461 core:MotorVehicles 2023-04-01 2024-03-31 02187461 core:OtherPropertyPlantEquipment 2023-04-01 2024-03-31 02187461 core:PlantMachinery 2023-04-01 2024-03-31 02187461 1 2023-04-01 2024-03-31 02187461 countries:England 2023-04-01 2024-03-31 02187461 2023-03-31 02187461 core:MotorVehicles 2023-03-31 02187461 core:OtherPropertyPlantEquipment 2023-03-31 02187461 2022-04-01 2023-03-31 02187461 2023-03-31 02187461 bus:OrdinaryShareClass1 2023-03-31 02187461 core:CurrentFinancialInstruments 2023-03-31 02187461 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 02187461 core:MotorVehicles 2023-03-31 02187461 core:OtherPropertyPlantEquipment 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 02187461

Alterity Developments Limited

Filleted Financial Statements

for the Year Ended 31 March 2024

 

Alterity Developments Limited

(Registration number: 02187461)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

16,463

19,313

Current assets

 

Stocks

5

563,750

643,750

Debtors

6

469

1,148

Cash at bank and in hand

 

509

13,782

 

564,728

658,680

Creditors: Amounts falling due within one year

7

(578,305)

(646,794)

Net current (liabilities)/assets

 

(13,577)

11,886

Total assets less current liabilities

 

2,886

31,199

Provisions for liabilities

(2,886)

(3,669)

Net assets

 

-

27,530

Capital and reserves

 

Called up share capital

8

100

100

Share premium reserve

900

900

Retained earnings

(1,000)

26,530

Shareholders' funds

 

-

27,530

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 20 June 2024 and signed on its behalf by:
 

.............................................
Mr EA Lonergan
Director

.............................................
Mr AJ Carleton
Director

 
     
 

Alterity Developments Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is: 3rd Floor, 1 Ashley Road, Altrincham, Cheshire, WA14 2DT.

These financial statements were authorised for issue by the Board on 20 June 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value. The functional and presentation currency is sterling.

Going concern

The financial statements have been prepared on a going concern basis.

Audit report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 20 June 2024 was Peter Stevenson, who signed for and on behalf of Stevenson and Wilson.

Revenue recognition

Turnover represents sales of development properties and land during the year and any other sundry income.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date.

Deferred tax is accounted for on all differences arising from the inclusion of items of income and expenditure in taxation computations in periods different from those in which they are included in the financial statements.

 

Alterity Developments Limited

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

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Fixed assets are depreciated at rates calculated to reduce them to residual value at the end of their expected normal lives on a straight line basis as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% per year

Motor vehicles

25% per year

Work in progress

Property held is valued at the lower of cost or net realisable value. Net realisable value is calculated as expected sales value less additional costs to completion.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Short-term debtors and creditors

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Financial assets, including debtors, are reviewed at the reporting date to determine if there is any evidence of potential impairment. Any losses arising from impairment are
recognised in the income statement in operating expenses.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 3).

 

Alterity Developments Limited

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

4

Tangible assets

Motor vehicles
 £

Plant and machinery
£

Total
£

Cost or valuation

At 1 April 2023

30,900

11,132

42,032

Additions

-

6,000

6,000

At 31 March 2024

30,900

17,132

48,032

Depreciation

At 1 April 2023

11,587

11,132

22,719

Charge for the year

7,725

1,125

8,850

At 31 March 2024

19,312

12,257

31,569

Carrying amount

At 31 March 2024

11,588

4,875

16,463

At 31 March 2023

19,313

-

19,313

5

Work in progress

2024
£

2023
£

Work in progress

563,750

643,750

The Company has conducted a review of the net realisable value of all of its land, work in progress and development sites. This review compared the estimated net realisable value of the development sites in the normal course of business with their balance sheet carrying value. Where necessary a provision for diminution in value was brought in to reduce the balance sheet carrying value from cost to net realisable value.

6

Debtors

2024
£

2023
£

Other debtors

469

1,148

 

469

1,148

 

Alterity Developments Limited

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

7

Creditors: due within one year

2024
£

2023
£

Trade creditors

2,281

52

Due to parent company

573,024

618,523

Taxation and social security

-

6,619

Accruals and deferred income

3,000

21,600

578,305

646,794

8

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

         

9

Capital Commitments

The Company had no capital commitments at the balance sheet date (2023: None).

10

Parent and ultimate parent undertaking

The ultimate controlling party is Mr. E.A. Lonergan.