ALMA 1854 LIMITED - Filleted accounts

Registered number

09439698

ALMA 1854 LIMITED

Report and Accounts

31 March 2017

ALMA 1854 LIMITED
Registered number:		09439698
Balance Sheet
as at 31 March 2017

Notes			2017			2016
£				£
Fixed assets
Tangible assets	2		-			1,163,244

Current assets
Stocks		2,100,000			-
Debtors	3	5,199			25,981
Cash at bank and in hand		1,061			413,297
		2,106,260			439,278

Creditors: amounts falling due within one year	4	(1,408,532)			(1,617,422)

Net current assets/(liabilities)			697,728			(1,178,144)

Total assets less current liabilities			697,728			(14,900)


Provisions for liabilities - deferred taxation			(131,380)			-


Net assets/(liabilities)			566,348			(14,900)

Capital and reserves
Called up share capital			1,000			1,000
Profit and loss account			565,348			(15,900)

Shareholders' funds			566,348			(14,900)

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit 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 the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




J Payne
Director
Approved by the board on 20 April 2017

ALMA 1854 LIMITED
Notes to the Accounts
for the year ended 31 March 2017


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Tangible fixed assets
	The company's property was acquired with a view to development. Planning was granted on 16 April 2016 and it is the directors' opinion that from this date the correct treatment was to transfer the property to stock at fair value.
	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.


2	Tangible fixed assets
				Land and buildings
£
	Cost
	At 1 April 2016			1,163,244
	Additions			138,557
	Fair value adjustment			798,199
	Transfer to stock			(2,100,000)
	At 31 March 2017			-

	Depreciation
	At 31 March 2017			-

	Net book value
	At 31 March 2017			-
	At 31 March 2016			1,163,244


3	Debtors	2017		2016
£			£

	Other debtors	5,199		25,981


4	Creditors: amounts falling due within one year	2017		2016
£			£

	Other creditors	1,408,532		1,617,422


5	Related party transactions

	At 31 March 2017 the company owed £153,322 to a director, O Wayman (2016: £150,080). This loan is repayable on demand and classified in creditors due within one year. Interest of £3,642 has been paid in relation to this loan.

6	Other information

	ALMA 1854 LIMITED is a private company limited by shares and incorporated in England. Its registered office is:
	76 Turner Road
	Colchester
	Essex
	CO4 5JY