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COMPANY REGISTRATION NUMBER: 06045918
Alpine Properties (2007) Limited
Filleted Unaudited Financial Statements
30 April 2024
Alpine Properties (2007) Limited
Statement of Financial Position
30 April 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
36,042
16,055
Investments
6
3,640,000
3,640,000
------------
------------
3,676,042
3,656,055
Current assets
Debtors
7
2,280,348
2,400,752
Cash at bank and in hand
133,605
55,985
------------
------------
2,413,953
2,456,737
Creditors: amounts falling due within one year
8
110,376
128,291
------------
------------
Net current assets
2,303,577
2,328,446
------------
------------
Total assets less current liabilities
5,979,619
5,984,501
Creditors: amounts falling due after more than one year
9
20,468
35,128
------------
------------
Net assets
5,959,151
5,949,373
------------
------------
Capital and reserves
Called up share capital
1
1
Profit and loss account
5,959,150
5,949,372
------------
------------
Shareholder funds
5,959,151
5,949,373
------------
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Alpine Properties (2007) Limited
Statement of Financial Position (continued)
30 April 2024
These financial statements were approved by the board of directors and authorised for issue on 9 January 2025 , and are signed on behalf of the board by:
Mrs A. Walker
Director
Company registration number: 06045918
Alpine Properties (2007) Limited
Notes to the Financial Statements
Year ended 30 April 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 4 Broadgate, Broadway Business Park, Chadderton, Oldham, OL9 9XA.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Significant judgements The judgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies that have a significant effect on the amounts recognised in the financial statements are the valuations of the investment properties. Key sources of estimation uncertainty Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. There are no key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents rents, service charges and consultancy fees receivable, exclusive of VAT where applicable.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
25% straight line
Motor vehicles
-
25% reducing balance
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Tangible assets
Equipment
Motor vehicles
Total
£
£
£
Cost
At 1 May 2023
42,977
28,543
71,520
Additions
24,000
24,000
--------
--------
--------
At 30 April 2024
42,977
52,543
95,520
--------
--------
--------
Depreciation
At 1 May 2023
42,977
12,488
55,465
Charge for the year
4,013
4,013
--------
--------
--------
At 30 April 2024
42,977
16,501
59,478
--------
--------
--------
Carrying amount
At 30 April 2024
36,042
36,042
--------
--------
--------
At 30 April 2023
16,055
16,055
--------
--------
--------
Finance leases and hire purchase contracts
Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:
Motor vehicles
£
At 30 April 2024
12,042
--------
At 30 April 2023
16,055
--------
6. Investments
Investment Properties
£
Cost
At 1 May 2023 and 30 April 2024
3,640,000
------------
Impairment
At 1 May 2023 and 30 April 2024
------------
Carrying amount
At 30 April 2024
3,640,000
------------
At 30 April 2023
3,640,000
------------
In the opinion of the director, the market value of the investment properties is not materially different to the book value at the year end.
7. Debtors
2024
2023
£
£
Trade debtors
29,722
75,964
Other debtors
2,250,626
2,324,788
------------
------------
2,280,348
2,400,752
------------
------------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
10,087
10,087
Trade creditors
2,480
1,009
Corporation tax
27,197
66,230
Social security and other taxes
8,872
9,554
Credit card account
972
Other creditors
60,768
41,411
---------
---------
110,376
128,291
---------
---------
9. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
11,443
21,395
Other creditors
9,025
13,733
--------
--------
20,468
35,128
--------
--------
10. Director's advances, credits and guarantees
Included within creditors is a directors current account balance of £103 (2023: £46,702 debtor). This balance is unsecured, interest free and repayable on demand.
11. Related party transactions
The company was under the control of Mrs A. Walker throughout the current year. Mrs A. Walker is the director of this company and a director and shareholder in the ultimate parent company, Alpine Properties (2018) Limited. During the year the company paid expenses totalling £865 (2023: £853) for Alpine Properties (2018) Limited. At the year end the company was owed £3,233 (2023: £2,368) by Alpine Properties (2018) Limited. At the year end the balance owed by Pearlane Estates Limited was £505,546 (2023: £505,546), a company in which Mrs A. Walker is a shareholder and her husband, Mr A. R. Walker, is the director and a shareholder. During the year the company paid expenses totalling £3,946 (2023: £3,446). The balance owed by Mr A. R. Walker T/A Alpine Properties at the year end was £870,162 (2023: £869,226). During the year the company paid expenses totalling £nil (2023: £nil) for A. H. Walker, the son of Mr and Mrs A. R. Walker. The balance owed by A. H. Walker at the year end was £10,317 (2023: £6,317). During the year the company paid expenses totalling £nil (2023: £6,800) for Alpine Properties (2008) Limited. At the year end the company was owed £848,316 (2023: £848,316) by Alpine Properties (2008) Limited, a company in which Mrs A. Walker is a director.
12. Controlling party
The company is a wholly owned subsidiary of Alpine Properties (2018) Limited, a company incorporated in England and Wales.