REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 March 2025 |
for |
Alinco Properties Ltd |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 March 2025 |
for |
Alinco Properties Ltd |
Alinco Properties Ltd (Registered number: 08826337) |
Contents of the Financial Statements |
for the Year Ended 31 March 2025 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Alinco Properties Ltd |
Company Information |
for the Year Ended 31 March 2025 |
DIRECTOR: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountants |
6 High Street |
Wheathampstead |
Hertfordshire |
AL4 8AA |
Alinco Properties Ltd (Registered number: 08826337) |
Balance Sheet |
31 March 2025 |
31.3.25 | 31.3.24 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
( |
) |
PROVISIONS FOR LIABILITIES | 8 | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Revaluation reserve | 9 |
Retained earnings |
SHAREHOLDERS' FUNDS |
The director acknowledges his 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. |
Alinco Properties Ltd (Registered number: 08826337) |
Balance Sheet - continued |
31 March 2025 |
The financial statements were approved by the director and authorised for issue on |
Alinco Properties Ltd (Registered number: 08826337) |
Notes to the Financial Statements |
for the Year Ended 31 March 2025 |
1. | STATUTORY INFORMATION |
Alinco Properties Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is 6 High Street, Wheathampstead, Herts, AL4 8AA. |
The financial statements are presented in Sterling, which is the functional currency of the company. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Revenue recognition |
Revenue represents rent and service charges receivable excluding Value Added Tax having regard to the fulfilment of contractual obligations. |
Fixed assets and depreciation |
All fixed assets are initially recorded at cost. |
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows: |
Fixtures & Fittings - 25% straight line. |
Taxation |
taxation represents the sum of tax currently payable and deferred tax. |
The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period. |
Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. |
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. |
Alinco Properties Ltd (Registered number: 08826337) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2025 |
2. | ACCOUNTING POLICIES - continued |
Investment properties |
In accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015) no depreciation is provided in respect of freehold properties held as investments. This is a departure from the requirements of the Companies Act 2006 which requires all properties to be depreciated. Such properties are held for investment and not for consumption and the Director considers that to depreciate them would not give a true and fair view. Depreciation is only one of the many elements reflected in the annual valuation of properties and accordingly the amount of depreciation which might otherwise have been charged cannot be separately identified or quantified. The Director considers that this policy results in the accounts giving a true and fair view. |
Leases |
Rental costs under operating leases are charged to Profit and Loss Account as incurred. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2024 - NIL). |
4. | TANGIBLE FIXED ASSETS |
Leasehold |
property |
£ |
COST OR VALUATION |
At 1 April 2024 |
and 31 March 2025 |
NET BOOK VALUE |
At 31 March 2025 |
At 31 March 2024 |
The land and buildings were revalued as at 31st March 2025 by the Director on an Open Market basis. The historical cost of the land and buildings was £603,146 (2024 : £603,146). |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.25 | 31.3.24 |
£ | £ |
Prepayments and accrued income |
Alinco Properties Ltd (Registered number: 08826337) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2025 |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.25 | 31.3.24 |
£ | £ |
Bank loan - current portion |
Owed to Director | 49,789 | 159,788 |
Loan from Alinco Services Ltd | 324,360 | 224,360 |
Accruals & deferred income |
Tax |
The bank loan £165,000 is interest only and payable on or before November 2026. It is secured by a first priority charge on one of the company's investment properties |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.3.25 | 31.3.24 |
£ | £ |
Bank loans - 1-5 years |
8. | PROVISIONS FOR LIABILITIES |
31.3.25 | 31.3.24 |
£ | £ |
Deferred tax | 21,000 | 21,000 |
Deferred |
tax |
£ |
Balance at 1 April 2024 |
Balance at 31 March 2025 |
Deferred Tax is potential Capital Gains Tax on sale of properties. Deferred tax is applied at 25% (2024 : 25%) |
9. | RESERVES |
Revaluation |
reserve |
£ |
At 1 April 2024 |
and 31 March 2025 |
Alinco Properties Ltd (Registered number: 08826337) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2025 |
10. | RELATED PARTY TRANSACTIONS |
Alinco Properties Ltd shares its director with Alinco Services Ltd. |
Loan positions were as follows: |
31.3.25 | 31.3.24 |
£ | £ |
Owed to Alinco Services Ltd | 324,360 | 224,360 |
Owed to Director A Gordon | 49,789 | 159,788 |
The above loans are interest-free and repayable on demand. |