Caseware UK (AP4) 2023.0.135 2023.0.135 2024-09-302024-09-30false2023-10-0144falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 00669057 2023-10-01 2024-09-30 00669057 2022-10-01 2023-09-30 00669057 2024-09-30 00669057 2023-09-30 00669057 2022-10-01 00669057 1 2023-10-01 2024-09-30 00669057 d:Director1 2023-10-01 2024-09-30 00669057 e:Buildings 2023-10-01 2024-09-30 00669057 e:Buildings 2024-09-30 00669057 e:Buildings 2023-09-30 00669057 e:Buildings e:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 00669057 e:PlantMachinery 2023-10-01 2024-09-30 00669057 e:PlantMachinery 2024-09-30 00669057 e:PlantMachinery 2023-09-30 00669057 e:PlantMachinery e:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 00669057 e:OfficeEquipment 2023-10-01 2024-09-30 00669057 e:OfficeEquipment 2024-09-30 00669057 e:OfficeEquipment 2023-09-30 00669057 e:OfficeEquipment e:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 00669057 e:OwnedOrFreeholdAssets 2023-10-01 2024-09-30 00669057 e:FreeholdInvestmentProperty 2023-10-01 2024-09-30 00669057 e:FreeholdInvestmentProperty 2024-09-30 00669057 e:FreeholdInvestmentProperty 2023-09-30 00669057 e:FreeholdInvestmentProperty 2 2023-10-01 2024-09-30 00669057 e:CurrentFinancialInstruments 2024-09-30 00669057 e:CurrentFinancialInstruments 2023-09-30 00669057 e:Non-currentFinancialInstruments 2024-09-30 00669057 e:Non-currentFinancialInstruments 2023-09-30 00669057 e:CurrentFinancialInstruments e:WithinOneYear 2024-09-30 00669057 e:CurrentFinancialInstruments e:WithinOneYear 2023-09-30 00669057 e:Non-currentFinancialInstruments e:AfterOneYear 2024-09-30 00669057 e:Non-currentFinancialInstruments e:AfterOneYear 2023-09-30 00669057 e:ShareCapital 2024-09-30 00669057 e:ShareCapital 2023-09-30 00669057 e:ShareCapital 2022-10-01 00669057 e:InvestmentPropertiesRevaluationReserve 2023-10-01 2024-09-30 00669057 e:InvestmentPropertiesRevaluationReserve 2024-09-30 00669057 e:InvestmentPropertiesRevaluationReserve 1 2023-10-01 2024-09-30 00669057 e:InvestmentPropertiesRevaluationReserve 2023-09-30 00669057 e:InvestmentPropertiesRevaluationReserve 2022-10-01 00669057 e:RetainedEarningsAccumulatedLosses 2023-10-01 2024-09-30 00669057 e:RetainedEarningsAccumulatedLosses 2024-09-30 00669057 e:RetainedEarningsAccumulatedLosses 2022-10-01 2023-09-30 00669057 e:RetainedEarningsAccumulatedLosses 2023-09-30 00669057 e:RetainedEarningsAccumulatedLosses 2022-10-01 00669057 e:AcceleratedTaxDepreciationDeferredTax 2024-09-30 00669057 e:AcceleratedTaxDepreciationDeferredTax 2023-09-30 00669057 e:OtherDeferredTax 2024-09-30 00669057 e:OtherDeferredTax 2023-09-30 00669057 d:OrdinaryShareClass1 2023-10-01 2024-09-30 00669057 d:OrdinaryShareClass1 2024-09-30 00669057 d:OrdinaryShareClass1 2023-09-30 00669057 d:FRS102 2023-10-01 2024-09-30 00669057 d:AuditExempt-NoAccountantsReport 2023-10-01 2024-09-30 00669057 d:FullAccounts 2023-10-01 2024-09-30 00669057 d:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 00669057 f:PoundSterling 2023-10-01 2024-09-30 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 00669057










ALBORO DEVELOPMENTS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 SEPTEMBER 2024

 
ALBORO DEVELOPMENTS LIMITED
REGISTERED NUMBER: 00669057

BALANCE SHEET
AS AT 30 SEPTEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
2,355,763
2,396,797

Investment property
 5 
11,138,219
10,797,189

  
13,493,982
13,193,986

Current assets
  

Stocks
 6 
65,560
46,233

Debtors: amounts falling due within one year
 7 
258,716
527,620

Cash at bank and in hand
  
200,185
1,144,276

Current liabilities
  
524,461
1,718,129

Creditors: amounts falling due within one year
 8 
(280,784)
(402,063)

Net current assets
  
 
 
243,677
 
 
1,316,066

Total assets less current liabilities
  
13,737,659
14,510,052

Creditors: amounts falling due after more than one year
 9 
(5,546,930)
(6,631,531)

Provisions for liabilities
  

Deferred tax
 10 
(289,890)
(275,242)

Net assets
  
7,900,839
7,603,279


Capital and reserves
  

Called up share capital 
  
27,500
27,500

Investment property revaluation reserve
 12 
1,632,858
1,389,286

Profit and loss account
 12 
6,240,481
6,186,493

  
7,900,839
7,603,279


Page 1

 
ALBORO DEVELOPMENTS LIMITED
REGISTERED NUMBER: 00669057

BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 20 March 2025.




M E Davenport
Director

The notes on pages 4 to 12 form part of these financial statements.

Page 2

 
ALBORO DEVELOPMENTS LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 SEPTEMBER 2024


Called up share capital
Investment property revaluation reserve
Profit and loss account
Total equity

£
£
£
£


At 1 October 2022
27,500
1,389,286
5,563,179
6,979,965



Profit for the year
-
-
623,314
623,314



At 1 October 2023
27,500
1,389,286
6,186,493
7,603,279



Profit for the year
-
-
297,560
297,560

Transfer to/from profit and loss account
-
-
(243,572)
(243,572)

Transfer between other reserves
-
243,572
-
243,572


At 30 September 2024
27,500
1,632,858
6,240,481
7,900,839


The notes on pages 4 to 12 form part of these financial statements.

Page 3

 
ALBORO DEVELOPMENTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1.


General information

Alboro Developments Limited is a private company, limited by shares, and incorporated in England and Wales, United Kingdom. The registered office is The Estate Office - Dickerson Industrial Estate, Ely Road, Waterbeach, Cambridge, CB25 9PG.
The principal activity was that of providing fuel and associated services to its tenants, holding assets used in the group's trading activities and holding investment properties

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 4

 
ALBORO DEVELOPMENTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.4

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.5

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Page 5

 
ALBORO DEVELOPMENTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.6

Tangible fixed assets

Tangible fixed assets, other than investment properties, are stated at cost or deemed cost less accumulated depreciation and any accumulated impairment losses. The company has recognised in land and buildings property that was transferred from investment properties at it’s deemed cost at the point it was re-categorised.

The Company adds to the carrying amount of an item of fixed assets the cost of replacing part of such an item when that cost is incurred, if the replacement part is expected to provide incremental future benefits to the Company. The carrying amount of the replaced part is derecognised. Repairs and maintenance are charged to profit or loss during the period in which they are incurred.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

Freehold property
-
2% per annum straight line
Plant and machinery
-
17.5% per annum on the reducing balance
Office equipment
-
25% per annum straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.7

Investment property

Investment property is 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. Changes in fair value are recognised in profit or loss.

 
2.8

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 6

 
ALBORO DEVELOPMENTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.12

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.13

Financial instruments

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.
 

Page 7

 
ALBORO DEVELOPMENTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)


2.13
Financial instruments (continued)

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


3.


Employees

The average monthly number of employees, including the directors, during the year was as follows:


        2024
        2023
            No.
            No.







Employees
4
4


4.


Tangible fixed assets





Freehold property
Plant and machinery
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 October 2023
2,448,057
307,520
2,044
2,757,621


Additions
452
33,917
-
34,369


Disposals
-
(8,487)
-
(8,487)



At 30 September 2024

2,448,509
332,950
2,044
2,783,503



Depreciation


At 1 October 2023
185,285
173,814
1,725
360,824


Charge for the year on owned assets
37,203
31,164
158
68,525


Disposals
-
(1,609)
-
(1,609)



At 30 September 2024

222,488
203,369
1,883
427,740



Net book value



At 30 September 2024
2,226,021
129,581
161
2,355,763



At 30 September 2023
2,262,772
133,706
319
2,396,797

The historical cost of the land and buildings are £2,234,157 (2023 - £2,233,704).

Page 8

 
ALBORO DEVELOPMENTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

           4.Tangible fixed assets (continued)




The net book value of land and buildings may be further analysed as follows:


2024
2023
£
£

Freehold
2,226,021
2,262,772


The carrying amount of investment property, which the Company rents to another group entity when it has chosen to account for such properties using the cost model is £1,283,491 (2023 - £1,312,458)


5.


Investment property


Freehold investment property

£



Valuation


At 1 October 2023
10,797,189


Additions at cost
320,000


Surplus on revaluation
21,030



At 30 September 2024
11,138,219

The 2024 valuations were made by Cheffins, on a fair value for existing use basis.



If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2024
2023
£
£


Historic cost
9,498,752
9,178,752


6.


Stocks

2024
2023
£
£

Fuel
65,560
46,233


Page 9

 
ALBORO DEVELOPMENTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

7.


Debtors

2024
2023
£
£


Trade debtors
235,709
494,099

Amounts owed by group undertakings
-
14,854

Prepayments and accrued income
23,007
18,667

258,716
527,620



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
58,105
109,710

Amounts owed to group undertakings
54,222
23,456

Corporation tax
79,930
90,446

Other taxation and social security
14,841
82,566

Other creditors
59,952
84,218

Accruals and deferred income
13,734
11,667

280,784
402,063



9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Amounts owed to group undertakings
5,538,373
6,626,370

Other creditors
8,557
5,161

5,546,930
6,631,531


Page 10

 
ALBORO DEVELOPMENTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

10.


Deferred taxation




2024


£






At beginning of year
(275,242)


Charged to profit or loss
(14,648)



At end of year
(289,890)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(46,447)
(46,088)

Upon the revaluation of investment properties to their fair value
(243,443)
(229,154)

(289,890)
(275,242)


11.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



27,500 (2023 - 27,500) Ordinary shares shares of £1.00 each
27,500
27,500



12.


Reserves

Investment property revaluation reserve

The cumulative unrealised gains and losses arising upon the revlaution of investment properties to their fair value.

Profit and loss account

The profit and loss account represents cumulative profits and losses and unrealised deficits on investment property. Deficits on the revaluation of investment properties are taken to the profit and loss account where it is seen that there are indications that the deficit is permanent for the foreseeable future.


13.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £3,351 (2023 - £2,880). No contributions (2023 - £Nil) were payable to the fund at the balance sheet date.

Page 11

 
ALBORO DEVELOPMENTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

14.Other financial commitments

The Company is a member of a group VAT registration and has contingent liabilities for VAT in respect of other members of the group.
Under cross-guarantee arrangements the Company guarantees the repayment of loans from M E Davenport and R Davenport to fellow group companies. The loans advanced to fellow group companies at 30 September 2024 were £Nil (2023 - £788,784).


15.


Related party transactions

The company has taken advantage of the exemption afforded by FRS 102 not to disclose transactions or balances with other wholly owned members of the group.


16.


Controlling party

The immediate and ultimate holding company is Alboro Holdings Limited, a company registered in England and Wales, United Kingdom. The registered office is The Estate Office - Dickerson Industrial Estate, Ely Road, Waterbeach, Cambridge, CB25 9PG.
The ultimate controlling party is M E Davenport & R L Davenport.


Page 12