Caseware UK (AP4) 2024.0.164 2024.0.164 2024-05-312024-05-3117404190140000002025-05-272023-06-01falsebuilding project management and property investment.22falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 10704388 2023-06-01 2024-05-31 10704388 2022-06-01 2023-05-31 10704388 2024-05-31 10704388 2023-05-31 10704388 c:Director1 2023-06-01 2024-05-31 10704388 d:FreeholdInvestmentProperty 2023-06-01 2024-05-31 10704388 d:FreeholdInvestmentProperty 2024-05-31 10704388 d:FreeholdInvestmentProperty 2023-05-31 10704388 d:CurrentFinancialInstruments 2024-05-31 10704388 d:CurrentFinancialInstruments 2023-05-31 10704388 d:Non-currentFinancialInstruments 2024-05-31 10704388 d:Non-currentFinancialInstruments 2023-05-31 10704388 d:CurrentFinancialInstruments d:WithinOneYear 2024-05-31 10704388 d:CurrentFinancialInstruments d:WithinOneYear 2023-05-31 10704388 d:Non-currentFinancialInstruments d:AfterOneYear 2024-05-31 10704388 d:Non-currentFinancialInstruments d:AfterOneYear 2023-05-31 10704388 d:ShareCapital 2024-05-31 10704388 d:ShareCapital 2023-05-31 10704388 d:RetainedEarningsAccumulatedLosses 2023-06-01 2024-05-31 10704388 d:RetainedEarningsAccumulatedLosses 2024-05-31 10704388 d:RetainedEarningsAccumulatedLosses 2023-05-31 10704388 c:OrdinaryShareClass1 2023-06-01 2024-05-31 10704388 c:OrdinaryShareClass1 2024-05-31 10704388 c:OrdinaryShareClass1 2023-05-31 10704388 c:FRS102 2023-06-01 2024-05-31 10704388 c:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 10704388 c:FullAccounts 2023-06-01 2024-05-31 10704388 c:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 10704388 d:RetirementBenefitObligationsDeferredTax 2024-05-31 10704388 d:RetirementBenefitObligationsDeferredTax 2023-05-31 10704388 2 2023-06-01 2024-05-31 10704388 6 2023-06-01 2024-05-31 10704388 d:Right-of-useInvestmentProperty 2023-06-01 2024-05-31 10704388 d:Right-of-useInvestmentProperty 2024-05-31 10704388 d:Right-of-useInvestmentProperty 2023-05-31 10704388 e:PoundSterling 2023-06-01 2024-05-31 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 10704388














ALDEL DESIGNS LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

 
ALDEL DESIGNS LIMITED
 

CONTENTS



Page
Statement of Financial Position
 
1 - 2
Notes to the Financial Statements
 
3 - 7


 
ALDEL DESIGNS LIMITED
REGISTERED NUMBER:10704388

STATEMENT OF FINANCIAL POSITION
AS AT 31 MAY 2024

2024
2023
Note
£
£

Fixed assets
  

Fixed asset investments
 4 
-
101

Investment property
 5 
8,702,095
7,000,000

  
8,702,095
7,000,101

Current assets
  

Debtors: amounts falling due within one year
 6 
26,281
118,297

Cash at bank and in hand
  
1,271,374
2,421,703

  
1,297,655
2,540,000

Current liabilities
  

Creditors: amounts falling due within one year
 7 
(1,199,062)
(871,784)

Net current assets
  
 
 
98,593
 
 
1,668,216

Total assets less current liabilities
  
8,800,688
8,668,317

Creditors: amounts falling due after more than one year
 8 
(4,511,382)
(4,502,717)

Provisions for liabilities
  

Deferred tax
 9 
(801,138)
(801,138)

Net assets
  
3,488,168
3,364,462


Capital and reserves
  

Called up share capital 
 10 
202
202

Profit and loss account
 11 
3,487,966
3,364,260

  
3,488,168
3,364,462


The director considers 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 director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

Page 1

 
ALDEL DESIGNS LIMITED
REGISTERED NUMBER:10704388
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MAY 2024

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 27 May 2025.




Y Shohet
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
ALDEL DESIGNS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1.


General information

Aldel Designs Limited is a private limited liability company incorporated in England and Wales, with its registered office address at 5 Elstree Gate, Elstree Way, Borehamwood, Hertfordshire, WD6 1JD.
The principal activities of the Company continued to be that of property development and management.
The Company's functional and presentational currency is £ Sterling.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover comprises revenue recognised by the Company in respect of development property sales, rent receivable and services supplied during the year, exclusive of Value Added Tax.
Development property sales are recognised at the date of exchange of contracts. If completion is conditional upon an external event the sale is recognised at the time the transaction becomes unconditional. Rental income is recognised in the period to which it relates. Revenue for services are recognised in the period in which services are rendered.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Finance costs

Finance costs are charged to the Statement of Comprehensive Income 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

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 3

 
ALDEL DESIGNS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.6

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 reporting 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 reporting 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.



 
2.7

Investment property

Investment property is carried at fair value determined annually by external valuers 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

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.9

Debtors

Short term debtors are measured at the transaction price, less any impairment.

 
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

Dividends

Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 4

 
ALDEL DESIGNS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).


4.


Fixed asset investments





Investment in subsidiary company

£



Cost


Additions
101


Disposals
(101)



At 31 May 2024
-


5.


Investment property


Freehold investment property
Property under construction
Total

£
£
£



Cost or valuation


At 1 June 2023
7,000,000
-
7,000,000


Additions at cost
-
1,702,095
1,702,095



At 31 May 2024
7,000,000
1,702,095
8,702,095

The 2024 valuations were made by the director, on an open market 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
5,497,544
3,795,449

Page 5

 
ALDEL DESIGNS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

6.


Debtors

2024
2023
£
£

Trade debtors
-
2,050

Other debtors
24,932
8,059

Prepayments and accrued income
1,349
108,188

26,281
118,297



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
5,990
-

Bank loans
9,700
9,700

Trade creditors
239,625
4,652

Amounts owed to group undertakings
101
101

Taxation and social security
107,315
67,190

Other creditors
793,699
749,604

Accruals and deferred income
42,632
40,537

1,199,062
871,784



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
4,511,382
4,502,717


Secured loans
The Company's bank facilities are secured by a first charge on the investment properties, all rents receivable and a debenture over the assets of the Company.

Page 6

 
ALDEL DESIGNS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

9.


Deferred taxation




2024


£



At beginning of year
801,138



At end of year
801,138

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Fair value adjustments
801,138
801,138


10.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



202 (2023 - 202) Ordinary shares of £1 each
202
202



11.


Reserves

Profit and loss account

Included in profit and loss reserves at the reporting date are non-distributable fair value adjustments of £2,403,413 (2023 - £2,403,413).


12.


Related party transactions

The Company has taken advantage of the exemption under FRS102 33.1A Related Party Disclosures not to disclose transactions entered into between two or more members of a group, provided that any subsidiary undertaking which is a party to the transaction is wholly owned by a member of that group.

 
Page 7