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Unaudited Financial Statements |
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for the Year Ended 31 March 2022 |
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for |
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Allerton Steel (Property) Limited |
REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 31 March 2022 |
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for |
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Allerton Steel (Property) Limited |
Allerton Steel (Property) Limited (Registered number: 06856494) |
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Contents of the Financial Statements |
for the Year Ended 31 March 2022 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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Allerton Steel (Property) Limited |
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Company Information |
for the Year Ended 31 March 2022 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
140 Coniscliffe Road |
DARLINGTON |
Co Durham |
DL3 7RT |
Allerton Steel (Property) Limited (Registered number: 06856494) |
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Balance Sheet |
31 March 2022 |
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2022 | 2021 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
7 |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 9 |
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Investment property revaluations reserve |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The director acknowledges his 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. |
Allerton Steel (Property) Limited (Registered number: 06856494) |
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Balance Sheet - continued |
31 March 2022 |
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In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
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The financial statements were approved by the director and authorised for issue on
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Allerton Steel (Property) Limited (Registered number: 06856494) |
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Notes to the Financial Statements |
for the Year Ended 31 March 2022 |
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1. | STATUTORY INFORMATION |
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Allerton Steel (Property) Limited is a
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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There were no material departures from that standard. |
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The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts. |
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Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group or those concluded under normal market conditions. |
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Investment property |
Investment property is included at fair value. Gains and losses are recognised in the Profit and Loss Account. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold. |
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Financial instruments |
Basic financial instruments are recognised at amortised cost with changes recognised in profit or loss. |
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Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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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. |
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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. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was NIL (2021 - NIL). |
Allerton Steel (Property) Limited (Registered number: 06856494) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2022 |
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4. | INVESTMENT PROPERTY |
Total |
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FAIR VALUE |
At 1 April 2021 |
and 31 March 2022 |
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NET BOOK VALUE |
At 31 March 2022 |
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At 31 March 2021 |
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Fair value at 31 March 2022 is represented by: |
£ |
Valuation in 2020 | 351,722 |
Cost | 1,648,278 |
2,000,000 |
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Investment property was valued on an open market basis on 18 July 2018 by Savills . |
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The director considers that open market value has not changed significantly. |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Other debtors |
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Prepayments and accrued income |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Amounts owed to group undertakings |
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Taxation and social security |
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Bank loan |
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Accruals and deferred income |
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7. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2022 | 2021 |
£ | £ |
Bank loan |
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Allerton Steel (Property) Limited (Registered number: 06856494) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2022 |
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8. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2022 | 2021 |
£ | £ |
Bank loan | - | 239,197 |
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The bank loan is repayable by instalments and is secured on the investment property. |
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All monies due or to become due to Barclays Bank Plc are secured by a guarantee and debenture dated 16 July 2009, incorporating a fixed and floating charge over all current and future property and assets of the company. |
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9. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2022 | 2021 |
value: | £ | £ |
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Ordinary | £1 | 1,000 | 1,000 |
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10. | ULTIMATE PARENT COMPANY |
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The ultimate parent company is JTC Trustees Limited, a company registered in Jersey. The registered office of the company is Elizabeth House, 9 Castle Street, St Helier, Jersey, JE2 3RT. |