SC504873 ALTENS DEVELOPMENT  COMPANY LIMITED 2015-05-01 2016-03-31 false true 2016-03-31 SC504873 2015-04-30 SC504873 2015-05-01 2016-03-31 SC504873 2016-03-31 SC504873 c:OrdinaryShareClass1 2016-03-31 SC504873 c:OrdinaryShareClass1 2015-05-01 2016-03-31 SC504873 c:Director1 2015-05-01 2016-03-31 SC504873 d:Subsidiary1 2015-05-01 2016-03-31 SC504873 d:Subsidiary1 2016-03-31 iso4217:GBP xbrli:shares xbrli:pure



Registered number: SC504873














ALTENS DEVELOPMENT 
COMPANY LIMITED



UNAUDITED

ABBREVIATED ACCOUNTS

FOR THE PERIOD ENDED 31 MARCH 2016
 
ALTENS DEVELOPMENT COMPANY LIMITED
REGISTERED NUMBER: SC504873

ABBREVIATED BALANCE SHEET
AS AT 31 MARCH 2016

2016
Note
£
£
 
FIXED ASSETS



 
Investments
 
3
1,000,000
 
CURRENT ASSETS



 
Debtors
4
1,418,238
 
Cash at bank
238




 
1,418,476
 
CREDITORS:  amounts falling due within one year
(166,903)
 
NET CURRENT ASSETS

1,251,573
 
TOTAL ASSETS LESS CURRENT LIABILITIES
2,251,573
 
CREDITORS:  amounts falling due after more than one year
5
(2,291,666)

NET LIABILITIES



 (40,093)
  
CAPITAL AND RESERVES

 
Called up share capital
6
2
 
Profit and loss account
(40,095)
 
SHAREHOLDERS' DEFICIT
 

 (40,093)


The directors consider that the company is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 ("the Act") and members have not required the company to obtain an audit for the period in question in accordance with section 476 of the Act. 

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and for preparing financial statements which give a true and fair view of the state of affairs of the company as at 31 March 2016 and of its loss for the period in accordance with the requirements of sections 394 and 395 of the Act and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.


Page 1

 
ALTENS DEVELOPMENT COMPANY LIMITED
 

ABBREVIATED BALANCE SHEET (continued)
AS AT 31 MARCH 2016

The abbreviated accounts, which 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, were approved and authorised for issue by the board and were signed on its behalf by: 





E Dunbar
Director

Date: 16 December 2016

The notes on pages 3 to 4 form part of these financial statements.

Page 2

 
ALTENS DEVELOPMENT COMPANY LIMITED
 
 
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE PERIOD ENDED 31 MARCH 2016

1.
GOING CONCERN

At 31 March 2016 the company had net liabilities of £40,093. Included within these liabilities are amounts due to the bank of £2,458,569, with £166,903 due to be paid within one year. The financial statements are prepared on a going concern basis which assumes that the company will continue to meet it's liabilities as they fall due. The subsidiary company has confirmed that they shall continue to support the company to meet it's bank obligations and also to continue trading as a going concern for the foreseeable future. As a result, the directors have continued to adopt the going concern basis of accounting in preparing the annual financial statements.


2. ACCOUNTING POLICIES

2.1
Basis of preparation of financial statements

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

2.2
Investments

Investments held as fixed assets are shown at cost less provision for impairment.


3. FIXED ASSET INVESTMENTS



£


Cost or valuation


At 1 May 2015
-

Additions
1,000,000


At 31 March 2016

1,000,000




Net book value


At 31 March 2016
 1,000,000

Subsidiary undertakings

The following were subsidiary undertakings of the company:

Name
Class of shares
Holding



Altens Lorry Park Development Limited
Ordinary
100%

The aggregate of the share capital and reserves as at 31 March 2016 and of the profit or loss for the year ended on that date for the subsidiary undertakings were as follows:

Name
Aggregate of share capital and reserves
Profit/(loss)

        £
        £



Altens Lorry Park Development Limited
2,410,337
(102,900)

 
4. DEBTORS
 
Page 3

 
ALTENS DEVELOPMENT COMPANY LIMITED
 
 
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE PERIOD ENDED 31 MARCH 2016

Debtors include  £1,418,238  falling due after more than one year.
 

5. CREDITORS:
 Amounts falling due after more than one year

Creditors include amounts not wholly repayable within 5 years as follows:

        2016
        £


Repayable by instalments
 1,624,999




6. SHARE CAPITAL
        2016
        £

Allotted, called up and fully paid


2 Ordinary shares of £1 each
 2

On incorporation 2 ordinary shares were issued at par value.

Page 4


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