Almadon Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 00926524 (England and Wales)

Almadon Limited

Financial Statements

for the Year Ended 30th April 2022

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTOR:

J H Greenwood

SECRETARY:

A M Hausman

REGISTERED OFFICE:

Abbeyfield Road

Nottingham

NG7 2TH

REGISTERED NUMBER:

00926524 (England and Wales)

AUDITORS:

Brooks Mayfield Limited

Chartered Accountants

12 Bridgford Road

West Bridgford

Nottinghamshire

NG2 6AB

FIXED ASSETS

Investments

5

8,740,870

10,545,454

Investment property

6

546,000

1,034,091

9,286,870

11,579,545

CURRENT ASSETS

Debtors

7

4,040,304

4,068,769

Cash at bank

23,411,332

20,413,013

27,451,636

24,481,782

CREDITORS

Amounts falling due within one year

8

(1,019,575

)

(316,547

)

NET CURRENT ASSETS

26,432,061

24,165,235

TOTAL ASSETS LESS CURRENT LIABILITIES

35,718,931

35,744,780

PROVISIONS FOR LIABILITIES

(747,224

)

(855,381

)

NET ASSETS

34,971,707

34,889,399

CAPITAL AND RESERVES

Called up share capital

9

200,000

200,000

Retained earnings

10

34,771,707

34,689,399

SHAREHOLDERS' FUNDS

34,971,707

34,889,399

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 director and authorised for issue on 23rd December 2022 and were signed by:

J H Greenwood - Director

1.	STATUTORY INFORMATION

Almadon 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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

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 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit and loss if the shares are publicly traded or their fair value can otherwise be measured reliably.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2021 - 2 ) .

5.	FIXED ASSET INVESTMENTS

Listed

investment

£

COST OR VALUATION

At 1st May 2021

10,545,454

Disposals

(2,095,947

)

Revaluations

291,363

At 30th April 2022

8,740,870

NET BOOK VALUE

At 30th April 2022

8,740,870

At 30th April 2021

10,545,454

Cost or valuation at 30th April 2022 is represented by:

Listed

investment

£

Valuation in 2018

1,795,454

Valuation in 2019

1,259,091

Valuation in 2020

(1,690,909

)

Valuation in 2021

3,181,818

Valuation in 2022

(612,062

)

Cost

4,807,478

8,740,870

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1st May 2021

1,034,091

Disposals

(488,091

)

At 30th April 2022

546,000

NET BOOK VALUE

At 30th April 2022

546,000

At 30th April 2021

1,034,091

Fair value at 30th April 2022 is represented by:

£

Valuation in 2018

140,078

Cost

405,922

546,000

Investment properties are subject to a valuation by the director who is not a professionally qualified valuer. The investment properties were valued to fair value at 30th April 2018 and the methods and significant assumptions used to ascertain the fair value are as follows:

- review of recent sold prices in the area

- the properties are in a similar condition to those recently sold

At 30th April 2022 the director is of the opinion that the market value of the remaining properties is not materially different to their value as at 30th April 2018.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Other debtors

4,040,304

4,068,769

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Taxation and social security

211,641

2,141

Other creditors

807,934

314,406

1,019,575

316,547

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2022

2021

value:

£

£

200,000

Ordinary shares

1.00

200,000

200,000

10.

RESERVES

Retained

earnings

£

At 1st May 2021

34,689,399

Profit for the year

682,308

Dividends

(600,000

)

At 30th April 2022

34,771,707

Included within the profit and loss reserve is £3,326,246 (2021 - £3,830,151) of reserves which relate to the revaluation of assets and are therefore undistributable. This is made up of adjustments to fair value of £4,073,470 (2021 - £4,685,532) less deferred tax on the revaluations of £747,224 (2021 - £855,381).

11.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

William Oates BA FCA (Senior Statutory Auditor)

for and on behalf of Brooks Mayfield Limited