Alycidon Investments Limited Filleted accounts for Companies House (small and micro)

ALYCIDON INVESTMENTS LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 01874634

ALYCIDON INVESTMENTS LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 March 2018

ALYCIDON INVESTMENTS LIMITED

FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2018

Contents	Page

Officers and professional advisers	1

Statement of financial position	2

Notes to the financial statements	4

ALYCIDON INVESTMENTS LIMITED

OFFICERS AND PROFESSIONAL ADVISERS

The board of directors	P S Bennett
	G T Marsden
	P B Marsden

Company secretary	G T Marsden

Registered office	95 Jermyn Street
	London
	SW1Y 6JE

Accountants	BSG Valentine
	Chartered accountant
	Lynton House
	7-12 Tavistock Square
	London
	WC1H 9BQ

ALYCIDON INVESTMENTS LIMITED

STATEMENT OF FINANCIAL POSITION

31 March 2018

	2018		2017
Note	£	£	£	£

Fixed assets

Tangible assets	5	4,300,000	3,903,928
Investments	6	304,574	500,000
		------------	------------
		4,604,574	4,403,928

Current assets

Debtors	7	98,933	51,399
Cash at bank and in hand		531,056	418,649
		---------	---------
		629,989	470,048

Creditors: amounts falling due within one year	8	78,263		79,517
		---------		---------
Net current assets			551,726		390,531
			------------		------------
Total assets less current liabilities			5,156,300		4,794,459

Creditors: amounts falling due after more than one year	9		1,521,690		1,571,506

Provisions

Taxation including deferred tax	63,446	22,059
	------------	------------
Net assets	3,571,164	3,200,894
	------------	------------

Capital and reserves

Called up share capital	11,153	11,153
Share premium account	251,213	251,213
Capital redemption reserve	618	618
Profit and loss account	3,308,180	2,937,910
	------------	------------
Shareholders funds	3,571,164	3,200,894
	------------	------------

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 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 comprehensive income has not been delivered.

For the year ending 31 March 2018 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 .

ALYCIDON INVESTMENTS LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

31 March 2018

These financial statements were approved by the board of directors and authorised for issue on 9 August 2018 , and are signed on behalf of the board by:

G T Marsden

Director

Company registration number: 01874634

ALYCIDON INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2018

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 95 Jermyn Street, London, SW1Y 6JE.

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 historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Disclosure exemptions

The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. No cash flow statement has been presented for the company.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover represents gross rents receivable from the letting of investment properties.

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.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Investments in associates

Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.

Investments in joint ventures

Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

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. Employee numbers

The average number of persons employed by the company during the year amounted to 4 (2017: 4 ).

5. Tangible assets

	Freehold property
	£
Cost or valuation
At 1 April 2017	3,903,928
Revaluations	396,072
	------------
At 31 March 2018	4,300,000
	------------
Depreciation
At 1 April 2017 and 31 March 2018	–
	------------
Carrying amount
At 31 March 2018	4,300,000
	------------
At 31 March 2017	3,903,928
	------------

Tangible assets held at valuation

The company's investment properties were revalued by the board as at 31 March 2018.

6. Investments

	Other investments other than loans
	£
Cost
At 1 April 2017	500,000
Additions	20,000
Disposals	( 215,426)
	---------
At 31 March 2018	304,574
	---------
Impairment
At 1 April 2017 and 31 March 2018	–
	---------

Carrying amount
At 31 March 2018	304,574
	---------
At 31 March 2017	500,000
	---------

The value of investments relates to Astranta Rufus LP (£284,574 at cost) and Astranta Garratt Lane LP (£20,000 at cost)

7. Debtors

	2018	2017
	£	£
Trade debtors	80,142	37,022
Amounts owed by group undertakings and undertakings in which the company has a participating interest	10,000	10,000
Other debtors	8,791	4,377
	--------	--------
	98,933	51,399
	--------	--------

8. Creditors: amounts falling due within one year

	2018	2017
	£	£
Trade creditors	7,249	8,170
Social security and other taxes	17,922	31,491
Other creditors	53,092	39,856
	--------	--------
	78,263	79,517
	--------	--------

9. Creditors: amounts falling due after more than one year

	2018	2017
	£	£
Bank loans and overdrafts	1,521,690	1,571,506
	------------	------------

The bank loans are secured by a legal charge on the investment properties and other tangible assets of the company. A debenture was created between the company Lloyds Bank on 23 August 2016.