Company registration number 13925681 (England and Wales)
ALKAR HOLDINGS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
ALKAR HOLDINGS LIMITED
CONTENTS
Page
Statement of financial position
1
Notes to the financial statements
2 - 6
ALKAR HOLDINGS LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT
31 MARCH 2024
31 March 2024
2024
2023
Notes
£
£
£
£
Non-current assets
Intangible assets
3
10,000
10,000
Investment property
4
2,700,000
2,800,000
Investments
5
20,100
20,100
2,730,100
2,830,100
Current assets
Inventories
1,797,691
-
Trade and other receivables
7
55,142
1,239,279
Cash and cash equivalents
1,353,177
1,844,291
3,206,010
3,083,570
Current liabilities
8
(2,042,150)
(70,360)
Net current assets
1,163,860
3,013,210
Net assets
3,893,960
5,843,310
Equity
Called up share capital
9
1,235
9,369,750
Retained earnings
3,892,725
(3,526,440)
Total equity
3,893,960
5,843,310

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 2 December 2024 and are signed on its behalf by:
A J Linton
Director
Company registration number 13925681 (England and Wales)
- 1 -
ALKAR HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
Company information

Alkar Holdings Limited is a private company limited by shares incorporated in England and Wales. The registered office is 4 Lonsdale Road, London, NW6 6RD.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Revenue

Turnover comprises rental income. Rental income is recognised as revenue on a straight line basis over the term of the lease.

1.3
Intangible fixed assets other than goodwill

Intangible fixed assets comprises cryptocurrency. Cryptocurrency is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently, they are measured at cost value less any impairment. Impairment losses are recognised in profit or loss.

1.4
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

1.5
Non-current investments

Interests in subsidiaries, are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.6
Inventories
- 2 -

Inventories are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition.

 

Inventories held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of inventories over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include deposits held at call with banks.

ALKAR HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including trade and other payables, are loans from fellow group companies.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Financial liabilities classified as payable within one year are not amortised.

 

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.9
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.10
Taxation

The tax expense represents the sum of the tax currently payable.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

1.11
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

- 3 -
ALKAR HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
1.12

Group accounts

The financial statements present information about the company as an individual undertaking and not about its group. The company and its subsidiary undertaking comprise a small-sized group. The company has therefore taken advantage of the exemptions provided by section 399 of the Companies Act 2006 not to prepare group accounts.

2
Employees
2024
2023
Number
Number
Total
6
-
0
3
Intangible fixed assets
Cryptocurrency
£
Cost
At 1 April 2023
10,000
At 31 March 2024
10,000
Carrying amount
At 31 March 2024
10,000
At 31 March 2023
10,000
4
Investment property
2024
£
Fair value
At 1 April 2023
2,800,000
Revaluations
(100,000)
At 31 March 2024
2,700,000

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. The historical cost is £2,800,000

- 4 -
ALKAR HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
5
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
100
100
Other investments other than loans
20,000
20,000
20,100
20,100
6
Subsidiaries

Details of the company's subsidiaries at 31 March 2024 are as follows:

Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Agegift Limited
United Kingdom
Ordinary
100.00
7
Trade and other receivables
2024
2023
Amounts falling due within one year:
£
£
Trade receivables
8,895
22,642
Amounts owed by group undertakings
-
0
570,013
Other receivables
46,247
646,624
55,142
1,239,279
8
Current liabilities
2024
2023
£
£
Amounts owed to group undertakings
1,950,000
-
0
Corporation tax
-
0
546
Other taxation and social security
-
0
1,098
Other payables
92,150
68,716
2,042,150
70,360
9
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary share capital (N shares) of £1 each
1,235
9,369,750
1,235
9,369,750
- 5 -
ALKAR HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
9
Called up share capital
(Continued)

On 22 December 2023, 9,368,250 N ordinary shares of £1 each were cancelled in connection with a capital reduction to create distributable reserves.

 

On 22 December 2023, the company effected a purchase of own shares in respect of 265 N ordinary shares of £1 each, for a total consideration of £2,415,173.

10
Related party transactions

The company has taken advantage of the exemption in FRS 102 Section 33 - Related Party Disclosures, from the requirement to disclose transactions with wholly owned companies within the same group.

- 6 -
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