Company Registration No. 01806388 (England and Wales)
Albemarle Estates Limited
Unaudited accounts
for the year ended 31 March 2019
Albemarle Estates Limited
Unaudited accounts
Contents
Albemarle Estates Limited
Company Information
for the year ended 31 March 2019
Directors
Roy Winker
Hilary Ann Winker
Company Number
01806388 (England and Wales)
Registered Office
RAVENSCROFT HOUSE
4 COPSE WOOD WAY
NORTHWOOD
MIDDX
HA6 2UE
ENGLAND
Accountants
Accountsforme Ltd
20 Sheridan Road
Watford
Hertfordshire
WD19 4QL
Albemarle Estates Limited
Statement of financial position
as at
31 March 2019
Investment property
400,000
400,000
Cash at bank and in hand
5,533
8,636
Creditors: amounts falling due within one year
(54,917)
(62,651)
Net current liabilities
(47,279)
(51,918)
Total assets less current liabilities
352,851
348,235
Creditors: amounts falling due after more than one year
(1,440)
(1,130)
Provisions for liabilities
Deferred tax
(46,672)
(46,672)
Net assets
304,739
300,433
Called up share capital
100
100
Revaluation reserve
272,298
272,298
Profit and loss account
32,341
28,035
Shareholders' funds
304,739
300,433
For the year ending 31 March 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 29 November 2019.
Roy Winker
Director
Company Registration No. 01806388
Albemarle Estates Limited
Notes to the Accounts
for the year ended 31 March 2019
Albemarle Estates Limited is a private company, limited by shares, registered in England and Wales, registration number 01806388. The registered office and principal place of business is RAVENSCROFT HOUSE, 4 COPSE WOOD WAY, NORTHWOOD, MIDDX, HA6 2UE, ENGLAND.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
There are no significant judgements exercised by the managment.
Turnover comprises the fair value of the consideration received or receivable for rent in the ordinary course of the company?s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
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 in the countries where the company operates and generates taxable income.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
Albemarle Estates Limited
Notes to the Accounts
for the year ended 31 March 2019
Tangible fixed assets and depreciation
Tangible assets are stated in the statement of financial position 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 is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Fixtures & fittings
15% reducing balance
Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the directors. The directors use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
The accounts are presented in £ sterling.
3
Tangible fixed assets
Fixtures & fittings
Cost or valuation
At cost
4
Investment property
2019
Fair value at 1 April 2018
400,000
The fair value of the company's investment property was valued, on 31 March 2019 as being £400,000, by the directors at open market value. The historical cost of the property was £81,030.
There has been no valuation of investment property by an independent valuer.
Albemarle Estates Limited
Notes to the Accounts
for the year ended 31 March 2019
Accrued income and prepayments
875
867
Other debtors
1,230
1,230
6
Creditors: amounts falling due within one year
2019
2018
Taxes and social security
2,481
2,065
Loans from directors
52,436
60,586
7
Creditors: amounts falling due after more than one year
2019
2018
8
Deferred taxation
2019
2018
Accelerated capital allowances
46,672
46,672
Provision at start of year
46,672
47,600
Credited to the profit and loss account
-
(928)
Provision at end of year
46,672
46,672
9
Share capital
2019
2018
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
10
Average number of employees
During the year the average number of employees was 0 (2018: 0).