Alvercroft Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 00802389 (England and Wales)

Alvercroft Limited

Unaudited Financial Statements

For The Year Ended 31 December 2024

Page

Company Information

1

Chartered Accountants' Report

2

Abridged Balance Sheet

3

Notes to the Financial Statements

5

DIRECTOR:

J R Goodall

REGISTERED OFFICE:

2 West Parade Road

Scarborough

North Yorkshire

YO12 5ED

REGISTERED NUMBER:

00802389 (England and Wales)

ACCOUNTANTS:

Ingham & Co.

Chartered Accountants

George Stanley House

2 West Parade Road

Scarborough

North Yorkshire

YO12 5ED

BANKERS:

Handelsbanken

2 Manor Court

Manor Garth

Eastfield

Scarborough

North Yorkshire

YO11 3TU

SOLICITORS:

Raworths LLP

Eton House

89 Station Parade

Harrogate

North Yorkshire

HG1 1HF

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Alvercroft Limited for the year ended 31 December 2024 which comprise the Income Statement, Abridged Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Alvercroft Limited in accordance with the terms of our engagement letter dated 13 September 2019. Our work has been undertaken solely to prepare for your approval the financial statements of Alvercroft Limited and state those matters that we have agreed to state to the director of Alvercroft Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Alvercroft Limited and its director for our work or for this report.

It is your duty to ensure that Alvercroft Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Alvercroft Limited. You consider that Alvercroft Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Alvercroft Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Ingham & Co.

Chartered Accountants

George Stanley House

2 West Parade Road

Scarborough

North Yorkshire

YO12 5ED

11 September 2025

FIXED ASSETS

Investment property

4

6,146,462

6,671,462

CURRENT ASSETS

Debtors

441,716

81,211

Cash at bank

79,044

8,102

520,760

89,313

CREDITORS

Amounts falling due within one year

1,875,723

2,002,297

NET CURRENT LIABILITIES

(1,354,963

)

(1,912,984

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

4,791,499

4,758,478

CREDITORS

Amounts falling due after more than one
year

(941,669

)

(1,035,000

)

PROVISIONS FOR LIABILITIES

7

(386,189

)

(386,189

)

NET ASSETS

3,463,641

3,337,289

CAPITAL AND RESERVES

Called up share capital

8

100

Revaluation reserve

9

431,481

492,343

Retained earnings

9

3,032,060

2,844,846

SHAREHOLDERS' FUNDS

3,463,641

3,337,289

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

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

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.

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

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 11 September 2025 and were signed by:

J R Goodall - Director

1.	STATUTORY INFORMATION

Alvercroft 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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

Turnover represents rents receivable on investment properties, excluding value added tax.

Lease incentives are recognised evenly over the term of the lease.

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.

3.	EMPLOYEES AND DIRECTORS

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

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

6,671,462

Disposals

(525,000

)

At 31 December 2024

6,146,462

NET BOOK VALUE

At 31 December 2024

6,146,462

At 31 December 2023

6,671,462

Fair value at 31 December 2024 is represented by:

£

Valuation in 2023

880,785

Cost

5,265,677

6,146,462

If freehold investment properties had not been revalued they would have been included at the following historical cost:

2024

2023

£

Cost

5,265,677

5,790,677

Freehold investment properties were valued on an open market basis on 31 December 2024 by J R Goodall .

J R Goodall is a director of the company.

5.

LOANS

An analysis of the maturity of loans is given below:

2024

2023

£

Amounts falling due within one year or on demand:

Bank loans

10,000

Bank Loan

83,333

93,333

Amounts falling due between one and two years:

Bank loans - 1-2 years

937,500

1,020,833

Amounts falling due between two and five years:

Bank Loan

4,169

14,167

6.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

Bank loans

1,030,833

1,114,166

7.	PROVISIONS FOR LIABILITIES

2024

2023

£

Deferred tax

Other timing differences

386,819

Accelerated capital allowances

(630

)

(630

)

386,189

Deferred

tax

£

Balance at 1 January 2024

386,189

Balance at 31 December 2024

386,189

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

100

Ordinary

£1

100

9.

RESERVES

Retained

Revaluation

earnings

reserve

Totals

£

At 1 January 2024

2,844,846

492,343

3,337,189

Profit for the year

126,352

Transfer

60,862

(60,862

)

-

At 31 December 2024

3,032,060

431,481

3,463,541

10.	CONTINGENT LIABILITIES

The company has entered into a legal mortgage in respect of its freehold investment properties, against bank facilities granted by the company's bankers to Dusrolbake Limited and Alvercroft Limited. The total loans and overdrawn balances of Dusrolbake Limited and Alvercroft Limited at 31 December 2024 was £2,290,174 (2023 - £2,308,332). The directors do not anticipate any claims being made under the guarantee.

11.	RELATED PARTY DISCLOSURES

The Goodall Group Limited

2024

2023

£

Amount due to related party

1,694,003

1,826,239

Dusrolbake Limited

2024

2023

£

Amount due from related party

(301,505

)

Nil

Yorkshire Coast Property Management Limited

2024

2023

£

Amount due to related party

3,970

Nil

Ipcrest Properties Limited

2024

2023

£

Amount due from related party

(63,282

)

(35,282

)

12.	ULTIMATE CONTROLLING PARTY

The controlling party is The Goodall Group Limited.

The ultimate controlling party is Mrs J M Goodall, J R Goodall and AW Ingham.

Mrs J M Goodall, J R Goodall and A W Ingham control the shares in The Goodall Group Limited in their capacity as trustees of the life interest settlement for the benefit of J R Goodall.