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REGISTERED NUMBER: 00848573 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 May 2024

for

Alvic Construction (Northern) Limited

Alvic Construction (Northern) Limited (Registered number: 00848573)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Alvic Construction (Northern) Limited

Company Information
for the Year Ended 31 May 2024







DIRECTORS: Mr I M Wright
Mr J P Wright





SECRETARY: Mr I M Wright





REGISTERED OFFICE: Low Hall Barn
Snowden Carr Road
Low Snowden
Nr Otley
LS21 2NQ





REGISTERED NUMBER: 00848573 (England and Wales)

Alvic Construction (Northern) Limited (Registered number: 00848573)

Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - 247
Investments 5 4,883 10,000
Investment property 6 1,720,000 2,160,000
1,724,883 2,170,247

CURRENT ASSETS
Debtors 7 16,076 110,381
Cash at bank 18,646 21,758
34,722 132,139
CREDITORS
Amounts falling due within one year 8 28,335 41,356
NET CURRENT ASSETS 6,387 90,783
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,731,270

2,261,030

CREDITORS
Amounts falling due after more than
one year

9

(1,028,040

)

(1,035,088

)

PROVISIONS FOR LIABILITIES (198,105 ) (198,105 )
NET ASSETS 505,125 1,027,837

Alvic Construction (Northern) Limited (Registered number: 00848573)

Balance Sheet - continued
31 May 2024

31.5.24 31.5.23
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 100 100
Other reserves 1,075,232 1,555,232
Retained earnings (570,207 ) (527,495 )
505,125 1,027,837

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 August 2024 and were signed on its behalf by:





Mr I M Wright - Director


Alvic Construction (Northern) Limited (Registered number: 00848573)

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

1. STATUTORY INFORMATION

Alvic Construction (Northern) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Revenue recognition
Turnover represents rent received from owned properties together with income received on the sale of properties.

Tangible fixed 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.

Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure.

Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

Alvic Construction (Northern) Limited (Registered number: 00848573)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
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. 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.

Trade and other debtors that are receivable within one year and do not constitute a financing transaction are recorded at the undiscounted amount expected to be received, net of impairment.

Cash and cash equivalents comprise cash at bank and on hand.

Trade and other creditors are initially recognised at the transaction price and are thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Alvic Construction (Northern) Limited (Registered number: 00848573)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

2. ACCOUNTING POLICIES - continued

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.

Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2023
and 31 May 2024 4,881
DEPRECIATION
At 1 June 2023 4,634
Charge for year 247
At 31 May 2024 4,881
NET BOOK VALUE
At 31 May 2024 -
At 31 May 2023 247

Alvic Construction (Northern) Limited (Registered number: 00848573)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 June 2023 10,000
Additions 4,883
Disposals (10,000 )
At 31 May 2024 4,883
NET BOOK VALUE
At 31 May 2024 4,883
At 31 May 2023 10,000

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2023 2,160,000
Additions 40,000
Impairments (480,000 )
At 31 May 2024 1,720,000
NET BOOK VALUE
At 31 May 2024 1,720,000
At 31 May 2023 2,160,000

Investment property comprises residential and commercial property. The fair value of the investment property has been arrived at on the basis of a valuation carried out by the directors. The directors consider the carrying values reflect the open market values at the balance sheet date.

7. DEBTORS
31.5.24 31.5.23
£    £   
Amounts falling due within one year:
Trade debtors 14,000 100,000
Other debtors - 8,305
14,000 108,305

Alvic Construction (Northern) Limited (Registered number: 00848573)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

7. DEBTORS - continued
31.5.24 31.5.23
£    £   
Amounts falling due after more than one year:
Other debtors 2,076 2,076

Aggregate amounts 16,076 110,381

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans and overdrafts 7,454 7,454
Taxation and social security 2,854 1,214
Other creditors 18,027 32,688
28,335 41,356

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans 1,028,040 1,035,088

Amounts falling due in more than five years:

Repayable by instalments
Paragon Mortgage more 5 yr by 1,021,020 1,021,020

10. SECURED DEBTS

The following secured debts are included within creditors:

31.5.24 31.5.23
£    £   
Bank loans 1,035,494 1,042,542

The bank loans are secured on the company properties.

Alvic Construction (Northern) Limited (Registered number: 00848573)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 May 2024 and 31 May 2023:

31.5.24 31.5.23
£    £   
Mr I M Wright
Balance outstanding at start of year (19,046 ) (2,171 )
Amounts advanced 99,155 68,763
Amounts repaid (81,902 ) (85,638 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (1,793 ) (19,046 )