ALDEN DEVELOPMENTS LTD
REGISTERED NUMBER: 3683562
ABBREVIATED BALANCE SHEET
AS AT 31 MARCH 2016
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CREDITORS: amounts falling due within one year
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TOTAL ASSETS LESS CURRENT LIABILITIES
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CREDITORS: amounts falling due after more than one year
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The directors consider that the company is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 ("the Act") and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and for preparing financial statements which give a true and fair view of the state of affairs of the company as at 31 March 2016 and of its profit for the year in accordance with the requirements of sections 394 and 395 of the Act and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.
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ALDEN DEVELOPMENTS LTD
ABBREVIATED BALANCE SHEET (continued)
AS AT 31 MARCH 2016
The abbreviated accounts, which have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006, were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 3 to 5 form part of these financial statements.
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ALDEN DEVELOPMENTS LTD
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2016
1.ACCOUNTING POLICIES
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BASIS OF PREPARATION OF FINANCIAL STATEMENTS
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The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention as modified by the revaluation of investment property and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
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Turnover comprises revenue recognised by the company in respect of rental income, exclusive of Value Added Tax and trade discounts.
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INTANGIBLE FIXED ASSETS AND AMORTISATION
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Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the identifiable assets and liabilities. It is amortised to the profit and loss account over its estimated economic life.
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Investments held as fixed assets are shown at cost less provision for impairment.
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Investment properties are included in the balance sheet at their open market value in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015) and are not depreciated. This treatment is contrary to the Companies Act 2006 which states that fixed assets should be depreciated but is, in the opinion of the directors, necessary in order to give a true and fair view of the financial position of the company.
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2.INTANGIBLE FIXED ASSETS
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At 1 April 2015 and 31 March 2016
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At 1 April 2015 and 31 March 2016
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Page 3
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ALDEN DEVELOPMENTS LTD
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2016
3.INVESTMENT PROPERTY
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Surplus/(deficit) on revaluation
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Annual revaluation surplus/(deficit):
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The 2016 valuations were made by the directors, on an open market value for existing use basis.
4.FIXED ASSET INVESTMENTS
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At 1 April 2015 and 31 March 2016
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5.CREDITORS:
AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
Creditors include amounts not wholly repayable within 5 years as follows:
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Repayable other than by instalments
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The aggregate amount of all creditors in the company's balance sheet in respect of which security has
been given by the company is £813,240 (2015 : £918,096).
The company has a £50,000 overdraft facility guaranteed on the investment property.
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