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

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 2021
Alexander Homes and Developments Ltd
Financial Statements
Year ended 31 March 2021
Contents
Page
Report to the board of directors on the preparation of the unaudited statutory financial statements
1
Statement of financial position
2
Notes to the financial statements
4
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 2021
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 2021, 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
8 July 2021
Alexander Homes and Developments Ltd
Statement of Financial Position
31 March 2021
2021
2020
Note
£
£
Current assets
Stocks
4
2,710,971
2,692,992
Debtors
5
48,602
38,348
Investments
6
1
1
Cash at bank and in hand
20,219
18,188
------------
------------
2,779,793
2,749,529
Creditors: amounts falling due within one year
7
2,122,330
1,984,562
------------
------------
Net current assets
657,463
764,967
---------
---------
Total assets less current liabilities
657,463
764,967
Creditors: amounts falling due after more than one year
8
834,854
817,646
---------
---------
Net liabilities
( 177,391)
( 52,679)
---------
---------
Capital and reserves
Called up share capital
4
4
Profit and loss account
( 177,395)
( 52,683)
---------
--------
Shareholders deficit
( 177,391)
( 52,679)
---------
--------
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 Section 1A of 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 income and retained earnings has not been delivered.
For the year ending 31 March 2021 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 2021
These financial statements were approved by the board of directors and authorised for issue on 5 July 2021 , and are signed on behalf of the board by:
Mr T. Chastney
Mr C. Boyce
Director
Director
Company registration number: 10618077
Alexander Homes and Developments Ltd
Notes to the Financial Statements
Year ended 31 March 2021
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 going concern basis. This basis may not be appropriate because the company has net liabilities at 31 March 2021 and 31 March 2020. The future of the company is dependent upon the continued support of its creditors. The accounts do not include any provisions for liabilities that may arise if this support is withdrawn.
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.
Government grants
Government grants are recognised using the accrual model. Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate.
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 the notes to creditors.
5. Debtors
2021
2020
£
£
Other debtors
48,602
38,348
--------
--------
6. Investments
2021
2020
£
£
Land and property Options
1
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
2021
2020
£
£
Bank loans and overdrafts
1,699,792
1,660,750
Trade creditors
287,799
292,265
Other loans
75,000
–
Other creditors
59,739
31,547
------------
------------
2,122,330
1,984,562
------------
------------
The company has given security for the bank loans that are due within one year.
All bank borrowing is secured by a fixed and floating charge over the stock of properties referred to in the 'stocks' note.
8. Creditors: amounts falling due after more than one year
2021
2020
£
£
Bank loans and overdrafts
45,208
–
Other loans
217,543
267,543
Other creditors
572,103
550,103
---------
---------
834,854
817,646
---------
---------
9. Directors' advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2021
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
Mr T. Chastney
( 191,664)
( 13,500)
( 205,164)
Mr C. Boyce
( 188,439)
( 31,500)
( 219,939)
Mr J. Boyce
( 170,000)
–
( 170,000)
---------
--------
---------
( 550,103)
( 45,000)
( 595,103)
---------
--------
---------
2020
Balance brought forward
Advances/ (credits) to the directors
Balance outstanding
£
£
£
Mr T. Chastney
( 191,664)
–
( 191,664)
Mr C. Boyce
( 135,939)
( 52,500)
( 188,439)
Mr J. Boyce
–
( 170,000)
( 170,000)
---------
---------
---------
( 327,603)
( 222,500)
( 550,103)
---------
---------
---------