Alchin Property Ltd - Accounts

ALCHIN PROPERTY LTD - Company Information

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Registered Number: 10187133

England and Wales

Abridged Accounts

for the year ended 31 May 2021

for

ALCHIN PROPERTY LTD

Alchin Property Ltd
Contents Page
For the year ended 31 May 2021

Statement of financial position	1
Notes to the financial statements	2

Registered Number: 10187133 Alchin Property Ltd
Statement of Financial Position
As at 31 May 2021

	2021 £	2020 £
Fixed assets
Tangible fixed assets	117	-
Investment property	221,000	170,719
	221,117	170,719
Current assets
Debtors: amounts falling due within one year	304	-
Cash at bank and in hand	6,414	7,751
	6,718	7,751
Creditors: amount falling due within one year	(147,129)	(158,936)
Net current liabilities	(140,411)	(151,185)

Total assets less current liabilities	80,706	19,534
Creditors: amount falling due after more than one year	(111,477)	(99,347)
Provisions for liabilities	6,081	-
Net liabilities	(24,690)	(79,813)

Capital and reserves
Called up share capital	1,000	1,000
Revaluation Reserves	40,750	-
Profit and loss account	(66,440)	(80,813)
Shareholder's funds	(24,690)	(79,813)

For the year ended 31 May 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

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 the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).

The director of the company has elected not to include the Income Statement within the financial statements.

The financial statements were approved by the director on 27 September 2021 and were signed by:

--------------------------------
V Alchin
Director

Alchin Property Ltd
Notes to the Abridged Financial Statements
For the year ended 31 May 2021

General Information

Alchin Property Ltd is a company limited by shares and is incorporated in England and Wales. The address of the registered office is 72 Kingston Street, Cambridge, CB1 2NU. The nature of the company's operations and its principal activity was that of property investment.

Accounting policies

Significant accounting policies

The company's financial statements have been prepared in compliance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland' and the Companies Act 2006.

The financial statements have been prepared under the historical cost convention and on a going concern basis. The financial statements comprise the unaudited financial statements of the company up to 31 May each year, and are stated in pound sterling, the company's functional and presentational currency.

The principal accounting policies applied in the preparation of these financial statements are set out below, these policies have been applied consistently to all the years presented, unless otherwise stated.

Going concern basis

The Directors have formed a judgement, at the time of approving the financial statements, that there is an expectation that the Company, with the support of its shareholders, has adequate resources to continue in operational existence for the foreseeable future being at least twelve months from the date of the financial statements. For this reason, they continue to adopt the going concern basis in preparing the financial statements as set out in the going concern section of the Directors' Report.

Turnover

Turnover comprises rental income receivable during the period.

Deferred taxation

Deferred tax is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

Tangible fixed assets

Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

Computer Equipment

33% Straight Line

Investment properties

Investment properties for which fair value can be measured reliably without undue cost or effort on an ongoing basis are measured at fair value annually with any change recognised in the profit and loss account. Unrealised gains or losses (net of related deferred tax) are transferred from retained earnings to a separate revaluation reserve.

Provisions

Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.

2.	Average number of employees Average number of employees during the year was 0 (2020 : 0).

Tangible fixed assets

Cost or valuation	Computer Equipment	Total
	£	£
At 01 June 2020	-	-
Additions	175	175
Disposals	-	-
At 31 May 2021	175	175
Depreciation
At 01 June 2020	-	-
Charge for year	58	58
On disposals	-	-
At 31 May 2021	58	58
Net book values
Closing balance as at 31 May 2021	117	117
Opening balance as at 01 June 2020	-	-

Investment property

Cost	Other investments other than loans	Total
	£	£
At 01 June 2020	170,719	170,719
Additions	-	-
Disposals	-	-
Revaluations	50,281	50,281
At 31 May 2021	221,000	221,000

Share Capital

Allotted, called up and fully paid	2021 £		2020 £
1,000 Ordinary shares of £1.00 each	1,000		1,000
	1,000		1,000