Silverfin false 31/05/2023 01/06/2022 31/05/2023 Mr G D Adam 01/12/2023 Mr A W Adam 05/06/2007 Mrs A Adam 05/06/2007 12 February 2024 no description of principal activity SC324906 2023-05-31 SC324906 bus:Director1 2023-05-31 SC324906 bus:Director2 2023-05-31 SC324906 bus:Director3 2023-05-31 SC324906 2022-05-31 SC324906 core:CurrentFinancialInstruments 2023-05-31 SC324906 core:CurrentFinancialInstruments 2022-05-31 SC324906 core:Non-currentFinancialInstruments 2023-05-31 SC324906 core:Non-currentFinancialInstruments 2022-05-31 SC324906 core:ShareCapital 2023-05-31 SC324906 core:ShareCapital 2022-05-31 SC324906 core:SharePremium 2023-05-31 SC324906 core:SharePremium 2022-05-31 SC324906 core:RetainedEarningsAccumulatedLosses 2023-05-31 SC324906 core:RetainedEarningsAccumulatedLosses 2022-05-31 SC324906 core:CostValuation 2022-05-31 SC324906 core:CostValuation 2023-05-31 SC324906 core:RemainingRelatedParties core:Non-currentFinancialInstruments 2023-05-31 SC324906 core:RemainingRelatedParties core:Non-currentFinancialInstruments 2022-05-31 SC324906 bus:OrdinaryShareClass1 2023-05-31 SC324906 2022-06-01 2023-05-31 SC324906 bus:FullAccounts 2022-06-01 2023-05-31 SC324906 bus:SmallEntities 2022-06-01 2023-05-31 SC324906 bus:AuditExemptWithAccountantsReport 2022-06-01 2023-05-31 SC324906 bus:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 SC324906 bus:Director1 2022-06-01 2023-05-31 SC324906 bus:Director2 2022-06-01 2023-05-31 SC324906 bus:Director3 2022-06-01 2023-05-31 SC324906 2021-06-01 2022-05-31 SC324906 bus:OrdinaryShareClass1 2022-06-01 2023-05-31 SC324906 bus:OrdinaryShareClass1 2021-06-01 2022-05-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: SC324906 (Scotland)

ALBA PROPERTIES LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 MAY 2023
PAGES FOR FILING WITH THE REGISTRAR

ALBA PROPERTIES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MAY 2023

Contents

ALBA PROPERTIES LIMITED

BALANCE SHEET

AS AT 31 MAY 2023
ALBA PROPERTIES LIMITED

BALANCE SHEET (continued)

AS AT 31 MAY 2023
Note 2023 2022
£ £
Fixed assets
Investments 3 2,401,963 2,401,963
2,401,963 2,401,963
Current assets
Debtors 4 112,073 110,639
Cash at bank and in hand 209,452 212,197
321,525 322,836
Creditors: amounts falling due within one year 5 ( 114,657) ( 56,491)
Net current assets 206,868 266,345
Total assets less current liabilities 2,608,831 2,668,308
Creditors: amounts falling due after more than one year 6 ( 2,583,159) ( 2,559,400)
Net assets 25,672 108,908
Capital and reserves
Called-up share capital 7 42,506 42,506
Share premium account 1,124,737 1,124,737
Profit and loss account ( 1,141,571 ) ( 1,058,335 )
Total shareholders' funds 25,672 108,908

For the financial year ending 31 May 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Alba Properties Limited (registered number: SC324906) were approved and authorised for issue by the Director on 12 February 2024. They were signed on its behalf by:

Mr A W Adam
Director
ALBA PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MAY 2023
ALBA PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 31 MAY 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Alba Properties Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is 10 Southfield Drive, Elgin, IV30 6GR, Scotland, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, and loans from fellow group companies, are recognised at transaction price.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Fixed asset investments

Investments in subsidiaries

2023
£
Cost
At 01 June 2022 2,401,963
At 31 May 2023 2,401,963
Carrying value at 31 May 2023 2,401,963
Carrying value at 31 May 2022 2,401,963

4. Debtors

2023 2022
£ £
Other debtors 112,073 110,639

5. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 1,182 0
Amounts owed to Group undertakings 99,762 42,876
Other creditors 13,713 13,615
114,657 56,491

6. Creditors: amounts falling due after more than one year

2023 2022
£ £
Amounts owed to related parties 2,167,553 2,143,794
Other creditors 415,606 415,606
2,583,159 2,559,400

7. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
42,506 Ordinary shares of £ 1.00 each 42,506 42,506

8. Related party transactions

Other related party transactions

2023 2022
£ £
Entities over which the entity has control, joint control or significant influence 2,167,553 2,247,178
Key management personnel 124,616 124,616
Other related parties 180,352 180,352

The amounts due to related parties by entities over which the entity has control, joint control or significant influence has annual interest accruing of £99,762 (2022 - £42,876). The remaining loans are interest free and have no fixed terms of repayment.