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Company Registration No. SC621130 (Scotland)
Ali & Mac Properties Ltd Unaudited accounts for the year ended 30 June 2023
Ali & Mac Properties Ltd Unaudited accounts Contents
Page
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Ali & Mac Properties Ltd Company Information for the year ended 30 June 2023
Director
Mohamed Monwar Ali
Company Number
SC621130 (Scotland)
Registered Office
West End Hotel Thurlow Road Nairn IV12 4EZ Scotland
Accountants
A2Z Accounting Solutions Limited 26 Grandholm Grove Aberdeen AB22 8AX
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Ali & Mac Properties Ltd Statement of financial position as at 30 June 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
193,788 
223,604 
Investment property
1,011,000 
1,062,000 
1,204,788 
1,285,604 
Current assets
Debtors
87,045 
61,722 
Cash at bank and in hand
1,882 
1,179 
88,927 
62,901 
Creditors: amounts falling due within one year
(826,395)
(844,410)
Net current liabilities
(737,468)
(781,509)
Total assets less current liabilities
467,320 
504,095 
Creditors: amounts falling due after more than one year
(600,483)
(603,040)
Provisions for liabilities
Other provisions
(49,000)
- 
Net liabilities
(182,163)
(98,945)
Capital and reserves
Called up share capital
1 
1 
Revaluation reserve
33,877 
33,877 
Profit and loss account
(216,041)
(132,823)
Shareholders' funds
(182,163)
(98,945)
For the year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 21 March 2024 and were signed on its behalf by
Mohamed Monwar Ali Director Company Registration No. SC621130
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Ali & Mac Properties Ltd Notes to the Accounts for the year ended 30 June 2023
1
Statutory information
Ali & Mac Properties Ltd is a private company, limited by shares, registered in Scotland, registration number SC621130. The registered office is West End Hotel, Thurlow Road, Nairn, IV12 4EZ, Scotland.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
10 years straight line method
Motor vehicles
25% reducing balance method
Fixtures & fittings
10 years straight line method
Computer equipment
25% reducing balance method
Investment property
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
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Ali & Mac Properties Ltd Notes to the Accounts for the year ended 30 June 2023
Going concern
After reviewing the Company's forecasts and projections, the Directors has reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. The Company therefore continues to adopt the going concern basis in preparing financial statements.
4
Tangible fixed assets
Total 
£ 
Cost or valuation
At 1 July 2022
291,290 
At 30 June 2023
291,290 
Depreciation
At 1 July 2022
67,686 
Charge for the year
29,816 
At 30 June 2023
97,502 
Net book value
At 30 June 2023
193,788 
At 30 June 2022
223,604 
5
Average number of employees
During the year the average number of employees was 1 (2022: 0).
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