Company Registration No. NI002099 (Northern Ireland)
Alvarod Limited
Unaudited accounts
for the year ended 30 June 2024
Alvarod Limited
Unaudited accounts
Contents
Alvarod Limited
Company Information
for the year ended 30 June 2024
Directors
Alan Rodden
Valerie Rodden
Company Number
NI002099 (Northern Ireland)
Registered Office
91 Glenhead Road
Limavady
County Londonderry
BT49 9LZ
Northern Ireland
Accountants
Satori Accounting
11 Orchard Business Park
Pennyburn Industrial Estate
Derry
Northern Ireland
BT48 0LU
Alvarod Limited
Statement of financial position
as at 30 June 2024
Tangible assets
37,806
45,934
Investment property
1,417,000
1,405,000
Cash at bank and in hand
82,560
112,279
Creditors: amounts falling due within one year
(298,357)
(325,547)
Net current assets
113,393
115,880
Total assets less current liabilities
1,576,770
1,575,385
Creditors: amounts falling due after more than one year
(98,988)
(98,833)
Provisions for liabilities
Deferred tax
(9,452)
(64,047)
Net assets
1,468,330
1,412,505
Alvarod Limited
Statement of financial position
as at 30 June 2024 (continued)
Called up share capital
10,500
10,500
Revaluation reserve
504,873
492,873
Capital redemption reserve
10,500
10,500
Profit and loss account
942,457
898,632
Shareholders' funds
1,468,330
1,412,505
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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 5 March 2025 and were signed on its behalf by
Alan Rodden
Director
Company Registration No. NI002099
Alvarod Limited
Notes to the Accounts
for the year ended 30 June 2024
Alvarod Limited is a private company, limited by shares, registered in Northern Ireland, registration number NI002099. The registered office is 91 Glenhead Road, Limavady, County Londonderry, BT49 9LZ, Northern Ireland.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
18% reducing balance
Motor vehicles
18% reducing balance
Fixtures & fittings
15% reducing balance
Alvarod Limited
Notes to the Accounts
for the year ended 30 June 2024
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At 1 July 2023
51,660
16,000
67,660
At 30 June 2024
51,660
16,000
67,660
At 1 July 2023
17,272
4,454
21,726
Charge for the year
6,050
2,078
8,128
At 30 June 2024
23,322
6,532
29,854
At 30 June 2024
28,338
9,468
37,806
At 30 June 2023
34,388
11,546
45,934
Fair value at 1 July 2023
1,405,000
Net gain from fair value adjustments
12,000
The company's investment properties are included at open market valuation as estimated by the directors.
6
Investments
Subsidiary undertakings
Other investments
Total
Valuation at 1 July 2023
2
8,569
8,571
Valuation at 30 June 2024
2
8,569
8,571
Included within investments are £2 nominal share value of shares held in a subsidiary undertaking.
Other invesments consist of listed shares. The directors are of the opinion that there is no material difference between listed share cost and market value.
Amounts falling due within one year
Trade debtors
20,108
1,219
Amounts due from group undertakings etc.
127,297
171,619
Accrued income and prepayments
25,631
-
Other debtors
88,513
88,363
Alvarod Limited
Notes to the Accounts
for the year ended 30 June 2024
8
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
2,306
62,655
Trade creditors
174,941
130,908
Taxes and social security
12,649
6,658
Other creditors
37,274
78,877
9
Creditors: amounts falling due after more than one year
2024
2023
The bank loan relates to funds received under CBILS and is unsecured.
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Loans to director
13,126
33,090
14,000
32,216
Loans to director
13,885
19,201
14,000
19,086
27,011
52,291
28,000
51,302
During the year, the company issued loans and paid personal expenses on behalf of the directors. The balances are repaid within 9 months of balance sheet date by way of dividends from distributable profits.
11
Transactions with related parties
There were no material transactions with related parties other than those with directors as disclosed at note 11.
12
Average number of employees
During the year the average number of employees was 31 (2023: 29).