Registration number:
Alfco Investments Ltd
for the Year Ended 31 January 2022
Alfco Investments Ltd
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Alfco Investments Ltd
Company Information
Directors |
Adrian Lindsay-Fynn Mrs Penelope J Lindsay-Fynn |
Company secretary |
Adrian Lindsay-Fynn |
Registration number |
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Registered office |
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Accountants |
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Alfco Investments Ltd
(Registration number: 01758228)
Balance Sheet as at 31 January 2022
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2022 |
2021 |
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Fixed assets |
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Investment property |
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Investments |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current assets |
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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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Provisions for liabilities |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Profit and loss account |
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Shareholders' funds |
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Alfco Investments Ltd
(Registration number: 01758228)
Balance Sheet as at 31 January 2022
For the financial year ending 31 January 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements 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.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.
Approved and authorised by the
Adrian Lindsay-Fynn
Company secretary and director
Alfco Investments Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 January 2022
General information |
The company is a private company limited by share capital, incorporated in United Kingdom.
The address of its registered office is:
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
These financial statements are prepared in Sterling, which is the functional currency of the company. All monetary amounts are rounded to the nearest £.
Going concern
The financial statements have been prepared on a going concern basis.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Alfco Investments Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 January 2022
Foreign currency transactions and balances
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.
Tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Fixtures and fittings |
10% straight line basis |
Investment property
Alfco Investments Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 January 2022
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Alfco Investments Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 January 2022
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Tangible assets |
Furniture, fittings and equipment |
Total |
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Cost or valuation |
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At 1 February 2021 |
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At 31 January 2022 |
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Depreciation |
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At 1 February 2021 |
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At 31 January 2022 |
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Carrying amount |
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At 31 January 2022 |
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Investment properties |
2022 |
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At 1 February |
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At 31 January |
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Investment properties are stated at Open Market Value at 31 January 2022 by the directors.
Investments |
2022 |
2021 |
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Investments held as fixed assets |
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Alfco Investments Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 January 2022
Debtors |
2022 |
2021 |
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Tax repayable on directors' loan account |
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Other prepayments |
6,197 |
7,958 |
Other debtors |
13,379 |
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Other debtors |
257,422 |
320,309 |
Directors' loan account |
473,792 |
400,839 |
Total current trade and other debtors |
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Creditors |
Creditors: amounts falling due within one year
Note |
2022 |
2021 |
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Due within one year |
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Trade creditors |
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Taxation and social security |
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Accruals |
12,778 |
12,346 |
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Rent in advance |
11,081 |
13,814 |
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Corporation Tax |
39,978 |
39,145 |
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PLF Current account |
1,549 |
1,549 |
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Due after one year |
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Loans and borrowings |
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Alfco Investments Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 January 2022
Share capital |
Allotted, called up and fully paid shares
2022 |
2021 |
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No. |
£ |
No. |
£ |
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A Ordinary shares of £1 each |
100 |
100 |
100 |
100 |
B Ordinary shares of £1 each |
1 |
1 |
1 |
1 |
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Related party transactions |
Transactions with directors |
2022 |
At 1 February 2021 |
Advances to directors |
At 31 January 2022 |
Adrian Lindsay-Fynn |
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Loan |
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2021 |
At 1 February 2020 |
Advances to directors |
At 31 January 2021 |
Adrian Lindsay-Fynn |
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Loan |
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Directors' remuneration
The directors' remuneration for the year was as follows:
2022 |
2021 |
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Remuneration |
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