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REGISTERED NUMBER: 13306731 (England and Wales)






ALPHA 1 HOMES LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024






ALPHA 1 HOMES LTD (REGISTERED NUMBER: 13306731)






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


ALPHA 1 HOMES LTD

COMPANY INFORMATION
for the year ended 31 May 2024







DIRECTORS: S Blunston
Mrs L Blunston





REGISTERED OFFICE: 27 Old Gloucester Street
London
WC1N 3AX





REGISTERED NUMBER: 13306731 (England and Wales)





ACCOUNTANTS: Weatherer Bailey Bragg
Chartered Accountants
100 Boldmere Road
Sutton Coldfield
West Midlands
B73 5UB

ALPHA 1 HOMES LTD (REGISTERED NUMBER: 13306731)

BALANCE SHEET
31 May 2024

31/5/24 31/5/23
Notes £    £   
FIXED ASSETS
Tangible assets 4 507 -
Investment property 5 937,707 190,000
938,214 190,000

CURRENT ASSETS
Debtors 6 942 47,622
Cash at bank and in hand 309 270,594
1,251 318,216
CREDITORS
Amounts falling due within one year 7 (768,675 ) (60,907 )
NET CURRENT (LIABILITIES)/ASSETS (767,424 ) 257,309
TOTAL ASSETS LESS CURRENT
LIABILITIES

170,790

447,309

CREDITORS
Amounts falling due after more than one
year

8

(129,472

)

(399,462

)

PROVISIONS FOR LIABILITIES 10 (8,647 ) (7,813 )
NET ASSETS 32,671 40,034

CAPITAL AND RESERVES
Called up share capital 11 100 100
Revaluation reserve 12 45,012 45,012
Retained earnings 12 (12,441 ) (5,078 )
SHAREHOLDERS' FUNDS 32,671 40,034

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.

ALPHA 1 HOMES LTD (REGISTERED NUMBER: 13306731)

BALANCE SHEET - continued
31 May 2024


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 27 February 2025 and were signed on its behalf by:





S Blunston - Director


ALPHA 1 HOMES LTD (REGISTERED NUMBER: 13306731)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 May 2024

1. STATUTORY INFORMATION

Alpha 1 Homes Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

Turnover
Turnover comprises rents receivable from investment properties.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

3. EMPLOYEES AND DIRECTORS

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

ALPHA 1 HOMES LTD (REGISTERED NUMBER: 13306731)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 May 2024

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
Additions 760
At 31 May 2024 760
DEPRECIATION
Charge for year 253
At 31 May 2024 253
NET BOOK VALUE
At 31 May 2024 507

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2023 190,000
Additions 979,629
Disposals (221,922 )
Revaluations (10,000 )
At 31 May 2024 937,707
NET BOOK VALUE
At 31 May 2024 937,707
At 31 May 2023 190,000

Fair value at 31 May 2024 is represented by:
£   
Valuation in 2022 45,570
Valuation in 2023 10,000
Valuation in 2024 (10,000 )
Cost 892,137
937,707

If the original property had not been revalued it would have been included at the following historical cost:

31/5/24 31/5/23
£    £   
Cost 134,430 134,430

The investment property was valued on an open market basis basis on 31 May 2024 by the directors .

ALPHA 1 HOMES LTD (REGISTERED NUMBER: 13306731)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 May 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/5/24 31/5/23
£    £   
Amounts owed by group undertakings 942 12,808
Other debtors - 33,735
Prepayments - 1,079
942 47,622

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/5/24 31/5/23
£    £   
Bank loans and overdrafts 383,315 -
Other loans 270,000 -
Trade creditors 247 92
Amounts owed to group undertakings 9,052 -
Other creditors 329 1,686
Directors' loan accounts 104,647 59,129
Accrued expenses 1,085 -
768,675 60,907

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/5/24 31/5/23
£    £   
Bank loans more 5 yrs non-inst 129,472 129,462
Other loans - 1-2 years - 270,000
129,472 399,462

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 129,472 129,462

9. SECURED DEBTS

The following secured debts are included within creditors:

31/5/24 31/5/23
£    £   
Bank loans 512,787 129,462

The bank loans are secured by a fixed charge over the investment properties.

10. PROVISIONS FOR LIABILITIES
31/5/24 31/5/23
£    £   
Deferred taxation 8,647 7,813

ALPHA 1 HOMES LTD (REGISTERED NUMBER: 13306731)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 May 2024

10. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 June 2023 7,813
Provided during year 834
Balance at 31 May 2024 8,647

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31/5/24 31/5/23
value: £    £   
100 Ordinary £1 100 100

12. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 June 2023 (5,078 ) 45,012 39,934
Deficit for the year (7,363 ) (7,363 )
At 31 May 2024 (12,441 ) 45,012 32,571

13. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

31/5/24 31/5/23
£    £   
S Blunston
Balance outstanding at start of year (29,565 ) (29,565 )
Amounts advanced 31,341 32,923
Amounts repaid (54,100 ) (32,923 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (52,324 ) (29,565 )

Mrs L Blunston
Balance outstanding at start of year (29,565 ) (29,565 )
Amounts advanced 31,341 32,923
Amounts repaid (54,100 ) (32,923 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (52,324 ) (29,565 )

14. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Blunston Group Ltd.