Alta Enterprises Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01724718 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2018

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

1,807,154

1,844,667

Investments

5

895,000

-

2,702,154

1,844,667

CURRENT ASSETS

Stocks

36,114

-

Debtors

6

14,948

27,288

Cash at bank

268,806

868,041

319,868

895,329

CREDITORS

Amounts falling due within one year

7

1,839,448

1,868,199

NET CURRENT LIABILITIES

(1,519,580

)

(972,870

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,182,574

871,797

PROVISIONS FOR LIABILITIES

2,326

2,347

NET ASSETS

1,180,248

869,450

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

1,180,148

869,350

SHAREHOLDERS' FUNDS

1,180,248

869,450

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 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 2018 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

Computer equipment

-

33% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2017 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Freehold

Leasehold

to

property

property

property

£

£

£

COST

At 1 April 2017

1,507,522

278,139

84,677

At 31 March 2018

1,507,522

278,139

84,677

DEPRECIATION

At 1 April 2017

30,150

5,563

1,694

Charge for year

30,150

5,563

1,694

At 31 March 2018

60,300

11,126

3,388

NET BOOK VALUE

At 31 March 2018

1,447,222

267,013

81,289

At 31 March 2017

1,477,372

272,576

82,983

Fixtures

and

Computer

Plant

fittings

equipment

Totals

£

£

£

£

COST

At 1 April 2017

118,285

33,329

844

2,022,796

Additions

2,000

-

-

2,000

At 31 March 2018

120,285

33,329

844

2,024,796

DEPRECIATION

At 1 April 2017

110,315

29,817

590

178,129

Charge for year

1,495

527

84

39,513

At 31 March 2018

111,810

30,344

674

217,642

NET BOOK VALUE

At 31 March 2018

8,475

2,985

170

1,807,154

At 31 March 2017

7,970

3,512

254

1,844,667

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

Additions

1,790,000

Disposals

(895,000

)

At 31 March 2018

895,000

NET BOOK VALUE

At 31 March 2018

895,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

1,231

11,904

Other debtors

13,717

15,384

14,948

27,288

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Bank loans and overdrafts

-

15,095

Trade creditors

20,702

13,892

Taxation and social security

452,486

803,788

Other creditors

1,366,260

1,035,424

1,839,448

1,868,199

8.	SECURED DEBTS

The following secured debts are included within creditors:

2018

2017

£

£

Bank loans

-

15,095

9.	RELATED PARTY DISCLOSURES

Directors Current Accounts

Included in creditors are amounts due to Mr D Betts, a director, totalling £1,082,390 (2017: £273,809) and

creditors due to Mr C Betts, a director, totalling £995 (2017 £1,509)

At the balance sheet date the company owed £nil (2017: £442,195) to Eastart Ltd, a company also controlled by

D Betts (director).

At the balance sheet date Eastart Ltd, a company also controlled by D Betts (director), owed the company

£13,016 (2017: £nil).

At the balance sheet date the company owed £183,000 (2017: £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 (2017:

£2,778) to Alta Enterprises Limited.

At the balance sheet date R D Properties Limited owed £4,860 (2017: £2,500) to Alta Enterprises Limited.