Registration number: 02187461

Alterity Developments Limited

(Registration number: 02187461)
Balance Sheet as at 31 March 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	3,750	16,463
Current assets
Stocks	5	432,210	563,750
Debtors	6	-	469
Cash at bank and in hand		200,072	509
		632,282	564,728
Creditors: Amounts falling due within one year	7	(589,300)	(578,305)
Net current assets/(liabilities)		42,982	(13,577)
Total assets less current liabilities		46,732	2,886
Provisions for liabilities		(938)	(2,886)
Net assets		45,794	-
Capital and reserves
Called up share capital	8	100	100
Share premium reserve		900	900
Retained earnings		44,794	(1,000)
Shareholders' funds		45,794	-

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 20 June 2025 and signed on its behalf by:
 

............................................. Mr EA Lonergan Director

............................................. Mr AJ Carleton Director

Alterity Developments Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

1	General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is: 3rd Floor, 1 Ashley Road, Altrincham, Cheshire, WA14 2DT.

These financial statements were authorised for issue by the Board on 20 June 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value. The functional and presentation currency is sterling.

Going concern

The financial statements have been prepared on a going concern basis.

Audit report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 20 June 2025 was Peter Stevenson, who signed for and on behalf of Stevenson and Wilson.

Revenue recognition

Turnover represents sales of development properties and land during the year and any other sundry income. Revenue from property sales is recognised at the contract date, at which point a binding legal agreement between the company and the purchaser has been agreed

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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.

Deferred tax is accounted for on all differences arising from the inclusion of items of income and expenditure in taxation computations in periods different from those in which they are included in the financial statements.

Alterity Developments Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Fixed assets are depreciated at rates calculated to reduce them to residual value at the end of their expected normal lives on a straight line basis as follows:

Asset class	Depreciation method and rate
Plant and machinery	25% per year
Motor vehicles	25% per year

Work in progress

Property held is valued at the lower of cost or net realisable value. Net realisable value is calculated as expected sales value less additional costs to completion.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Short-term debtors and creditors

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Financial assets, including debtors, are reviewed at the reporting date to determine if there is any evidence of potential impairment. Any losses arising from impairment are
recognised in the income statement in operating expenses.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge
to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2024 - 3).

Alterity Developments Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

4	Tangible assets

	Motor vehicles  £	Plant and machinery £	Total £
Cost or valuation
At 1 April 2024	30,900	17,132	48,032
Disposals	(30,900)	-	(30,900)
At 31 March 2025	-	17,132	17,132
Depreciation
At 1 April 2024	19,312	12,257	31,569
Charge for the year	7,725	1,125	8,850
Eliminated on disposal	(27,037)	-	(27,037)
At 31 March 2025	-	13,382	13,382
Carrying amount
At 31 March 2025	-	3,750	3,750
At 31 March 2024	11,588	4,875	16,463

5	Work in progress

	2025 £	2024 £
Work in progress	432,210	563,750

The Company has conducted a review of the net realisable value of all of its land, work in progress and development sites. This review compared the estimated net realisable value of the development sites in the normal course of business with their balance sheet carrying value. Where necessary a provision for diminution in value was brought in to reduce the balance sheet carrying value from cost to net realisable value.

6

Debtors

	2025 £	2024 £
Other debtors	-	469
	-	469

Alterity Developments Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

7	Creditors: due within one year

	2025 £	2024 £
Trade creditors	689	2,281
Due to parent company	565,239	573,024
Taxation and social security	17,874	-
Accruals and deferred income	5,498	3,000
	589,300	578,305

8	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary shares of £1 each	100	100	100	100

9	Capital Commitments

The Company had no capital commitments at the balance sheet date (2024: None).

10	Parent and ultimate parent undertaking

The ultimate controlling party is Mr. E.A. Lonergan.