A L Associates (St Albans) Ltd - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 13264792 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 12 MARCH 2021 TO 31 MARCH 2022

FOR

A L ASSOCIATES (ST ALBANS) LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs R G Leto

Mr M Leto

Mrs L Jung

Mr R Leto

Mr A Leto

REGISTERED OFFICE:

260 - 270 Butterfield

Great Marlings

Luton

Bedfordshire

LU2 8DL

BUSINESS ADDRESS:

94 The Ridgeway

St Albans

Hertfordshire

AL4 9PS

REGISTERED NUMBER:

13264792 (England and Wales)

ACCOUNTANTS:

Foxley Kingham

Chartered Accountants

260 - 270 Butterfield

Great Marlings

Luton

Bedfordshire

LU2 8DL

FIXED ASSETS

Investment property

4

1,988,000

CURRENT ASSETS

Debtors

5

1,575

Cash at bank

59,945

61,520

CREDITORS

Amounts falling due within one year

6

85,150

NET CURRENT LIABILITIES

(23,630

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,964,370

CREDITORS

Amounts falling due after more than one year

7

499,789

NET ASSETS

1,464,581

CAPITAL AND RESERVES

Called up share capital

9

1,463,452

Retained earnings

1,129

1,464,581

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2022 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 16 December 2022 and were signed on its behalf by:

Mr A Leto - Director

Mrs R G Leto - Director

Mr M Leto - Director

Mr R Leto - Director

Mrs L Jung - Director

1.	STATUTORY INFORMATION

A L Associates (St Albans) Ltd 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.

Turnover

Turnover represents rental receipts.

Investment property

In accordance with the FRS 102 Class 1a (effective January 2016), investment properties are revalued annually and the aggregate surplus or deficit is transferred to the revaluation reserve. No depreciation is provided in respect of investment properties.

The Companies Act 2006 requires all properties to be depreciated. However this requirement conflicts with the generally accepted accounting principle set out in the FRS 102 Class 1a (effective January 2016). The directors consider, that because investment properties are not held for consumption, but for their investment potential, to depreciate them would not give a true and fair view, and that it is necessary to adopt the FRS 102 Class 1a (effective January 2016) in order to give a true and fair view.

If this departure had not been made, the profit for the year would have been reduced by depreciation. The amount of depreciation cannot reasonably be quantified because depreciation is only one of many factors reflected in the annual valuation and the amount which might otherwise have been shown cannot be separately identified or quantified.

Taxation

Taxation for the period 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 period 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 period was 5 .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

Additions

1,988,000

At 31 March 2022

1,988,000

NET BOOK VALUE

At 31 March 2022

1,988,000

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Other debtors

1,575

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Bank loans and overdrafts

15,094

Corporation tax

300

Other creditors

2,024

Directors' loan accounts

55,641

Accruals and deferred income

12,091

85,150

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

£

Bank loans - 2-5 years

209,198

Bank loans more than 5 years

290,591

499,789

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more than 5 years

290,591

8.	SECURED DEBTS

The following secured debts are included within creditors:

£

Bank loans

514,883

The secured debts are personally guaranteed.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal value

2022

263,385

Ordinary A

£1

263,385

299,135

Ordinary B

£1

299,135

334,089

Ordinary C

£1

334,089

334,089

Ordinary D

£1

334,089

232,754

Ordinary E

£1

232,754

1,463,452

All classes of shares have the same voting rights and rank pari passu except for the right to receive dividends.