Alta Enterprises Limited - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 01724718 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2017

for

Alta Enterprises Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

D R Betts

R A Betts

Ms S Gledhill

C Betts

SECRETARY:

R A Betts

REGISTERED OFFICE:

Victoria Court

91 Huddersfield Road

Holmfirth

West Yorkshire

HD9 3JA

REGISTERED NUMBER:

01724718 (England and Wales)

FIXED ASSETS

Tangible assets

4

1,844,667

1,883,893

CURRENT ASSETS

Debtors

5

27,288

13,747

Cash at bank

868,041

674,860

895,329

688,607

CREDITORS

Amounts falling due within one year

6

1,868,199

1,280,344

NET CURRENT LIABILITIES

(972,870

)

(591,737

)

TOTAL ASSETS LESS CURRENT LIABILITIES

871,797

1,292,156

CREDITORS

Amounts falling due after more than one year

7

-

(17,191

)

PROVISIONS FOR LIABILITIES

(2,347

)

(2,711

)

NET ASSETS

869,450

1,272,254

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

869,350

1,272,154

SHAREHOLDERS' FUNDS

869,450

1,272,254

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 20 December 2017 and were signed on its behalf by:

D R Betts - Director

1.	STATUTORY INFORMATION

Alta Enterprises 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The company has net liabilities and is technically insolvent. The financial statements have been prepared on the

going concern basis which assumes the company will continue to exist for the foreseeable future. This is

dependent on the continued support of the creditors.

Turnover

Turnover represents the total invoice value, excluding value added tax, of rental income from property during the

year.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

2% on cost

Leasehold property

-

2% on cost

Plant

-

15% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on reducing balance

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 .

4.	TANGIBLE FIXED ASSETS

Improvements

Freehold

Leasehold

to

property

property

property

Plant

£

£

£

£

COST

At 1 April 2016

1,507,522

278,139

84,677

118,285

At 31 March 2017

1,507,522

278,139

84,677

118,285

DEPRECIATION

At 1 April 2016

-

-

-

108,908

Charge for year

30,150

5,563

1,694

1,407

Eliminated on disposal

-

-

-

-

At 31 March 2017

30,150

5,563

1,694

110,315

NET BOOK VALUE

At 31 March 2017

1,477,372

272,576

82,983

7,970

At 31 March 2016

1,507,522

278,139

84,677

9,377

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 April 2016

33,329

-

511

2,022,463

Additions

-

-

333

333

At 31 March 2017

33,329

-

844

2,022,796

DEPRECIATION

At 1 April 2016

29,198

(1

)

465

138,570

Charge for year

619

-

125

39,558

Eliminated on disposal

-

1

-

1

At 31 March 2017

29,817

-

590

178,129

NET BOOK VALUE

At 31 March 2017

3,512

-

254

1,844,667

At 31 March 2016

4,131

1

46

1,883,893

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Trade debtors

11,904

-

Other debtors

15,384

13,747

27,288

13,747

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2017

2016

£

£

Bank loans and overdrafts

15,095

18,995

Trade creditors

13,892

24,497

Taxation and social security

803,788

131,696

Other creditors

1,035,424

1,105,156

1,868,199

1,280,344

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2017

2016

£

£

Bank loans

-

17,191

8.	SECURED DEBTS

The following secured debts are included within creditors:

2017

2016

£

£

Bank loans

15,095

36,186

9.	RELATED PARTY DISCLOSURES

Directors Current Accounts

Included in creditors are amounts due to Mr D Betts, a director, totalling £273,809 (2016: £404,798) and

creditors due to Mr C Betts, a director, totalling £1,509 (2016 £3,456)

At the balance sheet date the company owed £442,195 (2016: £399,745) to Eastart Ltd, a company also

controlled by D Betts (director).

At the balance sheet date the company owed £183,000 (2016 £183,000 ) to the ultimate parent company, Alta

Enterprises (Gibraltar) Limited.

Dividends of £nil (2016 £nil ) were paid to the ultimate parent company, Alta Enterprises (Gibraltar) Limited.

At the balance sheet date the ultimate parent company, Alta Enterprises (gibraltar) Limited owed £2,778 (2016:

£2,778) to Alta Enterprises Limited.

At the balance sheet date R D Properties Limited owed £2,500 (2016: £2,500) to Alta Enterprises Limited.