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Registered number: 01641930
Aldens Properties Ltd.
Unaudited Financial Statements
For The Year Ended 30 June 2024
Kenyon & Co
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 01641930
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 48,303 1,032
Investment Properties 6 1,300,000 1,300,000
1,348,303 1,301,032
CURRENT ASSETS
Debtors 7 101,940 100,857
Cash at bank and in hand 21,543 33,547
123,483 134,404
Creditors: Amounts Falling Due Within One Year 8 (60,408 ) (79,545 )
NET CURRENT ASSETS (LIABILITIES) 63,075 54,859
TOTAL ASSETS LESS CURRENT LIABILITIES 1,411,378 1,355,891
Creditors: Amounts Falling Due After More Than One Year 9 (40,167 ) (11,460 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (74,150 ) (66,741 )
NET ASSETS 1,297,061 1,277,690
CAPITAL AND RESERVES
Called up share capital 84,000 84,000
Share premium account 17,000 17,000
Other reserves 584,124 584,124
Profit and Loss Account 611,937 592,566
SHAREHOLDERS' FUNDS 1,297,061 1,277,690
Page 1
Page 2
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Anthony York
Director
17 January 2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Aldens Properties Ltd. is a private company, limited by shares, incorporated in England & Wales, registered number 01641930 . The registered office is 1 Aldens Business Court, 7a Chudleigh Road, Alphington,, Exeter, Devon, EX2 8TS.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is recognised at fair value of the consideration received or receivable for rents and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 20 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 15% reducing balance
Motor Vehicles 20% reducing balance
Fixtures & Fittings 15% reducing balance
Computer Equipment 25% straight line
2.5. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.6. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
...CONTINUED
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2.7. Taxation - continued
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees including directors 2 (2023: 2)
2 2
4. Intangible Assets
Goodwill
£
Cost
As at 1 July 2023 70,000
As at 30 June 2024 70,000
Amortisation
As at 1 July 2023 70,000
As at 30 June 2024 70,000
Net Book Value
As at 30 June 2024 -
As at 1 July 2023 -
5. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 July 2023 1,340 - 11,932 5,540 18,812
Additions - 55,244 - 4,786 60,030
As at 30 June 2024 1,340 55,244 11,932 10,326 78,842
Depreciation
As at 1 July 2023 1,340 - 11,675 4,765 17,780
Provided during the period - 11,049 85 1,625 12,759
As at 30 June 2024 1,340 11,049 11,760 6,390 30,539
Net Book Value
As at 30 June 2024 - 44,195 172 3,936 48,303
As at 1 July 2023 - - 257 775 1,032
Page 4
Page 5
6. Investment Property
2024
£
Fair Value
As at 1 July 2023 and 30 June 2024 1,300,000
If investment property had been accounted for under historical cost accounting rules, the amounts would be:
2024 2023
£ £
Cost 1,300,000 1,300,000
7. Debtors
2024 2023
£ £
Due within one year
Trade debtors 17,377 3,296
Other debtors 11,503 28,503
Directors' loan account 69,576 63,889
Corporation tax recoverable assets 3,484 3,484
Deferred tax current asset - 1,685
101,940 100,857
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 1,993 -
Trade creditors 864 999
Bank loans and overdrafts 6,204 6,623
Corporation tax 7,845 16,025
VAT 3,335 6,934
Other creditors 2,400 2,400
Accruals and deferred income 37,767 39,564
Amounts owed to associates - 7,000
60,408 79,545
9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 34,516 -
Bank loans 5,651 11,460
40,167 11,460
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10. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 1,993 -
Later than one year and not later than five years 34,516 -
36,509 -
36,509 -
11. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 July 2023 Amounts advanced Amounts repaid Amounts written off As at 30 June 2024
£ £ £ £ £
Mr Anthony York 63,889 27,019 21,332 - 69,576
The company continued to make loans to the directors. The amounts drawn were money withdrawn and personal expenses incurred. The amounts credited to the loan accounts being cash repaid, unpaid directors remuneration and dividends credited.
The loan to the directors was unsecured and repayable on demand.
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