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REGISTERED NUMBER: 08648280 (England and Wales)















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH SEPTEMBER 2024

FOR

ALBEMARLE PORTFOLIO LIMITED

ALBEMARLE PORTFOLIO LIMITED (REGISTERED NUMBER: 08648280)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH SEPTEMBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


ALBEMARLE PORTFOLIO LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH SEPTEMBER 2024







DIRECTORS: D Barker
Mrs C Barker





REGISTERED OFFICE: Grove Barn
11 Silica Court
Kirk Sandall
Doncaster
South Yorkshire
DN3 1EG





REGISTERED NUMBER: 08648280 (England and Wales)





AUDITORS: Leesing Marrison Lee & Co
Chartered Certified Accountants
Register Auditor
46 Main Street
Mexborough
South Yorkshire
S64 9DU

ALBEMARLE PORTFOLIO LIMITED (REGISTERED NUMBER: 08648280)

BALANCE SHEET
30TH SEPTEMBER 2024

30.9.24 30.9.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 103 138
Investment property 5 3,890,315 3,269,950
3,890,418 3,270,088

CURRENT ASSETS
Debtors 6 4,827 656
Cash at bank 64,207 18,008
69,034 18,664
CREDITORS
Amounts falling due within one year 7 391,105 821,297
NET CURRENT LIABILITIES (322,071 ) (802,633 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,568,347

2,467,455

CREDITORS
Amounts falling due after more than one
year

8

(1,900,000

)

(953,910

)

PROVISIONS FOR LIABILITIES (331,513 ) (302,382 )
NET ASSETS 1,336,834 1,211,163

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,336,734 1,211,063
SHAREHOLDERS' FUNDS 1,336,834 1,211,163

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 2nd May 2025 and were signed on its behalf by:





Mrs C Barker - Director


ALBEMARLE PORTFOLIO LIMITED (REGISTERED NUMBER: 08648280)

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

1. STATUTORY INFORMATION

Albemarle Portfolio 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 as modified by the revaluation of certain assets.

Turnover
The turnover of the company represents rental income earned during the financial year from investment properties. Rental income is recognised on a straight-line basis over the lease term in accordance with the terms of the rental agreements.

The rental income is derived solely from the company’s investment properties, and there are no other significant revenue streams during the financial year.

Turnover has been recognised in accordance with the provisions of Section 23 of FRS 102: Revenue, and is stated net of value-added tax where applicable.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

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

ALBEMARLE PORTFOLIO LIMITED (REGISTERED NUMBER: 08648280)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2024

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1st October 2023
and 30th September 2024 1,870
DEPRECIATION
At 1st October 2023 1,732
Charge for year 35
At 30th September 2024 1,767
NET BOOK VALUE
At 30th September 2024 103
At 30th September 2023 138

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st October 2023 3,269,950
Additions 502,213
Revaluations 118,152
At 30th September 2024 3,890,315
NET BOOK VALUE
At 30th September 2024 3,890,315
At 30th September 2023 3,269,950

Fair value at 30th September 2024 is represented by:
£   
Valuation in 2017 42,000
Valuation in 2020 326,657
Valuation in 2022 239,270
Valuation in 2023 601,460
Valuation in 2024 118,152
Cost 2,562,776
3,890,315

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Other debtors 4,827 656

ALBEMARLE PORTFOLIO LIMITED (REGISTERED NUMBER: 08648280)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Bank loans and overdrafts - 122,844
Trade creditors 5,219 -
Amounts owed to group undertakings 332,768 642,825
Taxation and social security 12,174 14,846
Other creditors 40,944 40,782
391,105 821,297

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.9.24 30.9.23
£    £   
Bank loans 1,900,000 953,910

9. SECURED DEBTS

The following secured debts are included within creditors:

30.9.24 30.9.23
£    £   
Bank loans 1,900,000 1,076,754

Bank borrowings are secured by fixed and floating charges over the company's assets.

10. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Robert Tippett (Senior Statutory Auditor)
for and on behalf of Leesing Marrison Lee & Co

11. RELATED PARTY DISCLOSURES

The directors are interested as directors in Albemarle Homes Limited, Skyblu Limited and Logical Plumbing Solutions Limited as are directors and shareholders in Albemarle Holdings Limited.

During the year, the company purchased investment property from Albemarle Homes Limited of £500,000 (2023: £NIL). During the year, the company received rent from Albemarle Homes Limited totalling £46,800 (2023: £46,800).

There is a balance due to Skyblu Limited at the balance sheet date of £93,214 (2023: £103,271). During the year, Skyblu Limited charged interest to the company on the outstanding loan balance of £592 (2023: £840).

During the year, the company made purchases of £2,414 (2023: £1,921) from Logical Plumbing Solutions Limited.

There is a balance due to Albemarle Holdings Limited at the balance sheet date of £239,554 (2023: £539,554 debtor).

12. POST BALANCE SHEET EVENTS

During the year, the company entered into a contract to purchase a further investment property from Albemarle Homes Limited. At the year end the transaction had not completed and is not included in the financial statements. The contracted purchase price is £250,000. The property has been tenanted by the company before the year end and an amount of £292 has been included in rents received.

ALBEMARLE PORTFOLIO LIMITED (REGISTERED NUMBER: 08648280)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH SEPTEMBER 2024

13. ULTIMATE CONTROLLING PARTY

The controlling party is Albemarle Holdings Limited.

The directors owning the entire issued share capital of the controlling party exercised control over the company.