Registration number:
Alterity Developments Limited
for the Year Ended 31 March 2024
Alterity Developments Limited
(Registration number: 02187461)
Balance Sheet as at 31 March 2024
Note |
2024 |
2023 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current (liabilities)/assets |
( |
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Total assets less current liabilities |
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Provisions for liabilities |
( |
( |
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Net assets |
- |
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Capital and reserves |
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Called up share capital |
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
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Alterity Developments Limited
Notes to the Financial Statements for the Year Ended 31 March 2024
General information |
The company is a private company limited by share capital, incorporated in England.
The address of its registered office is:
These financial statements were authorised for issue by the
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
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.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Alterity Developments Limited
Notes to the Financial Statements for the Year Ended 31 March 2024
Tangible assets |
Motor vehicles |
Plant and machinery |
Total |
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Cost or valuation |
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At 1 April 2023 |
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Additions |
- |
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At 31 March 2024 |
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Depreciation |
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At 1 April 2023 |
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Charge for the year |
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At 31 March 2024 |
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Carrying amount |
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At 31 March 2024 |
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At 31 March 2023 |
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- |
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Work in progress |
2024 |
2023 |
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Work in progress |
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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.
Debtors |
2024 |
2023 |
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Other debtors |
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Alterity Developments Limited
Notes to the Financial Statements for the Year Ended 31 March 2024
Creditors: due within one year |
2024 |
2023 |
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Trade creditors |
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Due to parent company |
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Taxation and social security |
- |
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Accruals and deferred income |
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Share capital |
Allotted, called up and fully paid shares
2024 |
2023 |
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No. |
£ |
No. |
£ |
|
|
|
100 |
|
100 |
Capital Commitments |
The Company had no capital commitments at the balance sheet date (2023: None).
Parent and ultimate parent undertaking |
The ultimate controlling party is