Alexander Homes and Developments Ltd Filleted accounts for Companies House (small and micro)

ALEXANDER HOMES AND DEVELOPMENTS LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 10618077

Alexander Homes and Developments Ltd

Filleted Unaudited Financial Statements

31 March 2019

Alexander Homes and Developments Ltd

Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Alexander Homes and Developments Ltd

Year ended 31 March 2019

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Alexander Homes and Developments Ltd for the year ended 31 March 2019, which comprise the statement of financial position 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 Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html. Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf.

JAY & JAY PARTNERSHIP LIMITED Chartered Certified Accountants

2 Chesterfield Buildings Westbourne Place Clifton Bristol BS8 1RU

18 December 2019

Alexander Homes and Developments Ltd

Statement of Financial Position

31 March 2019

	2019	2018
Note	£	£

Current assets

Stocks	4	2,220,055	930,526
Debtors	5	29,078	3,876
Investments	6	1	–
Cash at bank and in hand		131,090	59,080
		------------	---------
		2,380,224	993,482

Creditors: amounts falling due within one year	7	1,042,658	371,974
		------------	---------
Net current assets		1,337,566	621,508
		------------	---------
Total assets less current liabilities		1,337,566	621,508

Creditors: amounts falling due after more than one year	8	1,277,646	650,605
		------------	---------
Net assets/(liabilities)		59,920	( 29,097)
		------------	---------

Capital and reserves

Called up share capital	4	4
Profit and loss account	59,916	( 29,101)
	--------	--------
Shareholders funds/(deficit)	59,920	( 29,097)
	--------	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

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.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Alexander Homes and Developments Ltd

Statement of Financial Position (continued)

31 March 2019

These financial statements were approved by the board of directors and authorised for issue on 18 December 2019 , and are signed on behalf of the board by:

Mr T. Chastney	Mr C. Boyce
Director	Director

Mr J. Boyce
Director

Company registration number: 10618077

Alexander Homes and Developments Ltd

Notes to the Financial Statements

Year ended 31 March 2019

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 30 Whiteladies Road, Clifton, Bristol, BS8 2LG.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

4. Stocks

The company's stock has been pledged as security for all bank borrowings, as referred to in note 8.

5. Debtors

	2019	2018
	£	£
Other debtors	29,078	3,876
	--------	-------

6. Investments

	2019	2018
	£	£
Land and property Options	1	–
	----	----

Option agreements have been entered into for the purchase of land and property at agreed values, subject to certain conditions being met, and may be exercised at the discretion of the company.

7. Creditors: amounts falling due within one year

	2019	2018
	£	£
Bank loans and overdrafts	700,000	–
Trade creditors	7,217	4,911
Corporation tax	14,534	–
Other creditors	320,907	367,063
	------------	---------
	1,042,658	371,974
	------------	---------

8. Creditors: amounts falling due after more than one year

	2019	2018
	£	£
Bank loans and overdrafts	745,000	650,605
Other loans	205,043	–
Other creditors	327,603	–
	------------	---------
	1,277,646	650,605
	------------	---------

The company has given security for the bank loans that are due within one year, and those due after more than one year.

All bank borrowing is secured by a fixed and floating charge over the stock of properties referred to in note 5.

Security has also been given against a deposit of £32,000, which is held in a company bank account.

9. Directors' advances, credits and guarantees

During the year the directors entered into the following advances and credits with the company:

	2019
	Balance brought forward	Advances/ (credits) to the directors	Amounts repaid	Balance outstanding
	£	£	£	£
Mr T. Chastney	( 224,535)	( 220,020)	252,891	( 191,664)
Mr C. Boyce	( 137,977)	–	2,038	( 135,939)
	---------	---------	---------	---------
	( 362,512)	( 220,020)	254,929	( 327,603)
	---------	---------	---------	---------

	2018
	Balance brought forward	Advances/ (credits) to the directors	Amounts repaid	Balance outstanding
	£	£	£	£
Mr T. Chastney	–	( 269,535)	45,000	( 224,535)
Mr C. Boyce	–	( 137,977)	–	( 137,977)
	----	---------	--------	---------
	–	( 407,512)	45,000	( 362,512)
	----	---------	--------	---------