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REGISTERED NUMBER: 09427318 (England and Wales)

















Unaudited Financial Statements

for the Year Ended 31 May 2024

for

Alkana Corporation Limited

Alkana Corporation Limited (Registered number: 09427318)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Alkana Corporation Limited

Company Information
for the Year Ended 31 May 2024







DIRECTORS: D W Morgan
N D Morgan
S J Smith





SECRETARY: D W Morgan





REGISTERED OFFICE: 21 Gold Tops
Newport
South Wales
NP20 4PG





REGISTERED NUMBER: 09427318 (England and Wales)





ACCOUNTANTS: Guilfoyle Sage LLP
21 Gold Tops
Newport
South Wales
NP20 4PG

Alkana Corporation Limited (Registered number: 09427318)

Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes £    £    £   
FIXED ASSETS
Intangible assets 5 150 150
Tangible assets 6 6,906,665 6,195,799
Investments 7 26,489 37,191
Investment property 8 2,815,786 2,815,786
9,749,090 9,048,926

CURRENT ASSETS
Stocks 269,750 530,176
Debtors 9 362,833 526,113
Cash at bank and in hand 195,673 306,742
828,256 1,363,031
CREDITORS
Amounts falling due within one year 10 1,628,345 1,230,354
NET CURRENT (LIABILITIES)/ASSETS (800,089 ) 132,677
TOTAL ASSETS LESS CURRENT
LIABILITIES

8,949,001

9,181,603

CREDITORS
Amounts falling due after more than one
year

11

(1,557,007

)

(1,700,985

)

PROVISIONS FOR LIABILITIES (96,400 ) (151,016 )
NET ASSETS 7,295,594 7,329,602

Alkana Corporation Limited (Registered number: 09427318)

Balance Sheet - continued
31 May 2024

31.5.24 31.5.23
Notes £    £    £   
CAPITAL AND RESERVES
Called up share capital 13 600,200 600,200
Retained earnings 14 6,695,394 6,729,402
SHAREHOLDERS' FUNDS 7,295,594 7,329,602

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 May 2025 and were signed on its behalf by:





D W Morgan - Director


Alkana Corporation Limited (Registered number: 09427318)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

Alkana Corporation Limited is a private company, limited by shares and is incorporated in England and Wales. The company's registered number is 09427318, the address of its registered office is 21 Gold Tops, Newport, South Wales, NP20 4PG.

The nature of the company's operations and principal activities are poultry farming, dairy farming and property rental.

These financial statements are the company's separate financial statements, covering the year to 31 May 2024 and are presented in Sterling (£), the company's functional currency, rounded to the nearest pound.

The accounting policies applied in the presentation of these financial statements are set out below. These policies have been consistently applied to all periods presented unless otherwise stated.

2. STATEMENT OF COMPLIANCE

The individual financial statements of Alkana Corporation Limited have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The financial statements have been prepared on a going concern basis. The company meets its day to day working capital requirements through the funding provided by the directors' connected companies shown within creditors. The directors have confirmed the connected companies will provide sufficient funding to enable the company to continue trading for at least one year from the date of the approval of these financial statements.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

SFP entitlements is being amortised evenly over its estimated useful life of two years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 10% on cost

Alkana Corporation Limited (Registered number: 09427318)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

3. ACCOUNTING POLICIES - continued

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.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Non derivative financial instruments
Financial assets and financial liabilities are recognised in the company's balance sheet when the company becomes a party to the contractual provisions of the instrument.

Non-derivative financial instruments comprise trade and other debtors, cash and cash equivalents, trade and other creditors and interest free loans.

Debtors and creditors with no stated interest rate are receivable or payable within one year and are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.

Cash and cash equivalents comprise cash at bank and in hand.

Loans and borrowings and concessionary loans are initially recognised at transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method less impairment. If an arrangement constitutes a finance transaction it is measured at present value. Loans and borrowings receivable within one year are not discounted.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Alkana Corporation Limited (Registered number: 09427318)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

3. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

5. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 June 2023
and 31 May 2024 3,010
AMORTISATION
At 1 June 2023
and 31 May 2024 2,860
NET BOOK VALUE
At 31 May 2024 150
At 31 May 2023 150

Alkana Corporation Limited (Registered number: 09427318)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

6. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1 June 2023 5,040,784 1,525,400 6,566,184
Additions - 829,692 829,692
Disposals - (33,661 ) (33,661 )
At 31 May 2024 5,040,784 2,321,431 7,362,215
DEPRECIATION
At 1 June 2023 - 370,385 370,385
Charge for year - 108,984 108,984
Eliminated on disposal - (23,819 ) (23,819 )
At 31 May 2024 - 455,550 455,550
NET BOOK VALUE
At 31 May 2024 5,040,784 1,865,881 6,906,665
At 31 May 2023 5,040,784 1,155,015 6,195,799

Cost or valuation at 31 May 2024 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 2018 3,387,527 - 3,387,527
Cost 1,653,257 2,321,431 3,974,688
5,040,784 2,321,431 7,362,215

7. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 June 2023 37,191
Revaluations (10,702 )
At 31 May 2024 26,489
NET BOOK VALUE
At 31 May 2024 26,489
At 31 May 2023 37,191

Alkana Corporation Limited (Registered number: 09427318)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

7. FIXED ASSET INVESTMENTS - continued

Cost or valuation at 31 May 2024 is represented by:

Other
investments
£   
Valuation in 2017 27,533
Valuation in 2018 10,334
Valuation in 2019 1,235
Valuation in 2020 12,172
Valuation in 2021 22,961
Valuation in 2022 (33,663 )
Valuation in 2023 (3,381 )
Valuation in 2024 (10,702 )
26,489

8. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2023
and 31 May 2024 2,815,786
NET BOOK VALUE
At 31 May 2024 2,815,786
At 31 May 2023 2,815,786

Fair value at 31 May 2024 is represented by:
£   
Valuation in 2017 1,880,776
Cost 935,010
2,815,786

9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 183,931 176,095
Other debtors 178,902 350,018
362,833 526,113

Alkana Corporation Limited (Registered number: 09427318)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans and overdrafts 93,948 93,948
Trade creditors 274,491 911,661
Taxation and social security 1,693 990
Other creditors 1,258,213 223,755
1,628,345 1,230,354

11. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans 417,270 488,652
Other creditors 1,139,737 1,212,333
1,557,007 1,700,985

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 41,478 112,860

12. SECURED DEBTS

The following secured debts are included within creditors:

31.5.24 31.5.23
£    £   
Bank loans 511,218 582,600

The bank loan is secured by fixed and floating charges over the undertaking and all property and assets present and future including goodwill, book debts, uncalled capital, buildings, fixtures and fixed plant and machinery.

The bank loan is repayable in May 2030 and is being charged at an interest rate of 4.09%.

13. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.24 31.5.23
value: £    £   
200 Ordinary £1 200 200
600,000 Redeemable Preference £1 600,000 600,000
600,200 600,200

Alkana Corporation Limited (Registered number: 09427318)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

13. CALLED UP SHARE CAPITAL - continued

The Redeemable Preference shares shall entitle the holder to a preferential dividend at the option of the company and if paid shall be paid on the amounts for the time being paid up or credited as paid thereon. The said dividend, if paid, shall rank for payment in priority to the payment of a dividend on any other shares of the company and shall be payable annually on a date to be specified by the directors in a general meeting. The preference shares shall not confer the right to additional participation in the profits of the company.

Subject to the provisions of the Act, the Redeemable Preference shares shall be redeemed at par in part or in whole at the option of the company, after 5 years from the date of issue of the said shares.

The holders of the Redeemable Preference shares shall not be entitled to receive notice of meetings of or to attend or vote at general meetings of the company.

In a winding up of the assets of the company (including uncalled share capital at the commencement of the winding up) remaining after paying and discharging the debts and liabilities of the company and the costs of the winding up shall be applied in the following order of priority:

(i) in repayment of the capital paid up or credited as paid up on the Redeemable Preference shares (including any premium)

(ii) in payment to the holders of Redeemable Preference shares of all arrears of dividend on such shares up to the commencement of the winding up

(iii) in repayment of the capital paid up or credited as paid up on the Ordinary shares and the residue (if any) shall be divided among the holders of the Ordinary shares in proportion to the nominal amount paid up or credited as paid up on such shares.

14. RESERVES
Retained
earnings
£   

At 1 June 2023 6,729,402
Deficit for the year (34,008 )
At 31 May 2024 6,695,394

Included in reserves is an amount of £5,268,301 which is non distributable.

Alkana Corporation Limited (Registered number: 09427318)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

15. RELATED PARTY DISCLOSURES

At the year end, included in creditors is the sum of £1,569 (2023:£2,481) and included in debtors is the sum of £1,756 (2023:£1,756) owed to and by key management personnel respectively.

During the year, transactions were entered into with entities under the common control of key management personnel as follows:

Expenditure includes costs of £120,244 (2023:£32,563).
Sales includes £32,125 (2023:£31,560).

At the year end, included in debtors is £111,709 (2023: £230,682), included in creditors is the sum of £2,089,387 ((2023:£1,365,297) owed by and to entities under the common control of key management personnel. There is no fixed repayment date on these loans and no interest has been charged.