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REGISTERED NUMBER: SC078787 (Scotland)











ALEX MATHER LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023






ALEX MATHER LIMITED (REGISTERED NUMBER: SC078787)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 11

Chartered Accountants' Report 12

ALEX MATHER LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2023







DIRECTORS: Donald Camburn Doherty
Christopher Hugh Doherty



REGISTERED OFFICE: 7 Poplar Drive
Broadmeadow Industrial Estate
Dumbarton
G82 2RD



REGISTERED NUMBER: SC078787 (Scotland)



ACCOUNTANTS: Milne Craig
Chartered Accountants
Abercorn House
79 Renfrew Road
Paisley
Renfrewshire
PA3 4DA



BANKERS: Royal Bank of Scotland
15 Mitchell Way
Alexandria
G83 OLW

ALEX MATHER LIMITED (REGISTERED NUMBER: SC078787)

BALANCE SHEET
30 JUNE 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 645,512 559,092
Investments 5 1,907 1,907
647,419 560,999

CURRENT ASSETS
Stocks 6 86,689 86,689
Debtors 7 217,801 238,479
Cash at bank and in hand 183,573 160,759
488,063 485,927
CREDITORS
Amounts falling due within one year 8 174,445 140,293
NET CURRENT ASSETS 313,618 345,634
TOTAL ASSETS LESS CURRENT
LIABILITIES

961,037

906,633

CREDITORS
Amounts falling due after more than one
year

9

(128,929

)

(164,634

)

PROVISIONS FOR LIABILITIES 11 (117,306 ) (103,974 )
NET ASSETS 714,802 638,025

CAPITAL AND RESERVES
Called up share capital 50 50
Revaluation reserve 87,778 87,778
Capital redemption reserve 50 50
Retained earnings 626,924 550,147
SHAREHOLDERS' FUNDS 714,802 638,025

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

ALEX MATHER LIMITED (REGISTERED NUMBER: SC078787)

BALANCE SHEET - continued
30 JUNE 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and loss has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 March 2024 and were signed on its behalf by:





Christopher Hugh Doherty - Director


ALEX MATHER LIMITED (REGISTERED NUMBER: SC078787)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1. STATUTORY INFORMATION

Alex Mather Limited is a private company, limited by shares, registered in Scotland. The Company's registered number is SC078787 and registered office address is Alexandria House, Upper Smollet Street, Alexandria, Dunbartonshire, Scotland G83 0LN.

The nature of the Company's operations and its principal activities in the year under review was that of the hiring of plant and equipment, the sale of spares for light machinery and the sale of tools, calor gas and miscellaneous items.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The financial statements are prepared in sterling, which is the functional currency of the Company. Monetary amounts in these financial statements are rounded to the nearest £.

Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Critical accounting judgements and key sources of estimation uncertainty
In preparing these financial statements, the directors have made the following judgements:

Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projected disposal values.

Assets are considered for indications of impairment. If required an impairment review will be carried out and a decision made on possible impairment. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the asset and where it is a component of a larger cash-generating unit, the viability and expected future performance of that unit.

Bad debts are provided for where objective evidence of the need for a provision exists.

Inventories are assessed for evidence of obsolescence and a provision is made against any inventory unlikely to be sold, or where stock is sold post year end at a loss.

Turnover
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Consideration is given to the point at which the Company is entitled to receive the income, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Revenue from the provision of services is recognised in the period in which the services are provided when all of the following conditions are satisfied:

- the amount of revenue can be measured reliably;
- it is probable that the Company will receive the consideration due;
- the costs incurred can be measured reliably.

ALEX MATHER LIMITED (REGISTERED NUMBER: SC078787)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - 4% on cost
Plant and machinery - Straight line over 3 years, Straight line over 7 years and Straight line over 5 years
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on cost

Financial instruments
The Company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 ' Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised in the Company's balance sheet when the Company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention 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 initially measured at transaction price including transactions costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the Company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities
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.

Basic financial liabilities
Basic financial liabilities, including creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.


ALEX MATHER LIMITED (REGISTERED NUMBER: SC078787)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

2. ACCOUNTING POLICIES - continued
Taxation
Current tax is recognised for the amount of income tax payable in respect of the taxable profit for the current or past reporting periods using the tax rates and laws that have been enacted or substantively enacted by the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date, except as otherwise indicated.

Deferred tax assets are only recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

If and when all conditions for retaining tax allowances for the cost of a fixed asset have been met, the deferred tax is reversed.

Deferred tax is calculated using the tax rates and laws that that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

With the exception of changes arising on the initial recognition of a business combination, the tax expense (income) is presented either in profit or loss, other comprehensive income or equity depending on the transaction that resulted in the tax expense (income).

Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors.

Deferred tax assets and deferred tax liabilities are offset only if the deferred tax assets and deferred tax liabilities relate to income taxes levied by the same taxation authority on either the same taxable entity or different taxable entities which intend either to settle current tax liabilities and assets on a net basis, or to realise the assets and settle the liabilities simultaneously.

Research and development
Expenditure on research activities is recognised in the income statement as an expense as incurred.

Expenditure on development activities is capitalised if the product or process is technically and commercially feasible and the Company intends to and has the technical ability and sufficient resources to complete development, future economic benefits are probable and if the Company can measure reliably the expenditure attributable to the intangible asset during its development. Development activities improve a plan or design for the production of new or substantially improved products or processes. The expenditure capitalised includes the cost of materials, direct labour and an appropriate proportion of overheads and capitalised borrowing costs. Other development expenditure is recognised in the income statement as an expense as incurred. Capitalised development expenditure is stated at cost less accumulated amortisation and less accumulated impairment losses

Leases
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the profit and loss account over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Investments
Listed investments are held at fair value. Any movement in fair value is reflected in the profit and loss account.

ALEX MATHER LIMITED (REGISTERED NUMBER: SC078787)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

2. ACCOUNTING POLICIES - continued

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 profit or loss as described below.

Non-financial assets
An asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

Financial assets
For financial assets carried at amortised cost, the amount of impairment is the difference between the asset's carrying amount and the present value of estimated future cash flows, discounted at the financial asset's original effective interest rate.

For financial assets carried at cost less impairment, the impairment loss is the difference between the asset's carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal.

An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks and other short-term liquid investments with original maturities of three months or less.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 7 ) .

ALEX MATHER LIMITED (REGISTERED NUMBER: SC078787)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST OR VALUATION
At 1 July 2022 208,075 1,753,991 78,996
Additions - 264,124 -
Disposals - - -
At 30 June 2023 208,075 2,018,115 78,996
DEPRECIATION
At 1 July 2022 150,412 1,253,622 78,968
Charge for year 8,324 198,481 -
Eliminated on disposal - - -
At 30 June 2023 158,736 1,452,103 78,968
NET BOOK VALUE
At 30 June 2023 49,339 566,012 28
At 30 June 2022 57,663 500,369 28

Motor Computer
vehicles equipment Totals
£    £    £   
COST OR VALUATION
At 1 July 2022 130,572 9,049 2,180,683
Additions 33,845 - 297,969
Disposals (55,602 ) - (55,602 )
At 30 June 2023 108,815 9,049 2,423,050
DEPRECIATION
At 1 July 2022 130,566 8,023 1,621,591
Charge for year 4,231 513 211,549
Eliminated on disposal (55,602 ) - (55,602 )
At 30 June 2023 79,195 8,536 1,777,538
NET BOOK VALUE
At 30 June 2023 29,620 513 645,512
At 30 June 2022 6 1,026 559,092

Cost or valuation at 30 June 2023 is represented by:

Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
Valuation in 2004 108,757 - -
Cost 99,318 2,018,115 78,996
208,075 2,018,115 78,996

ALEX MATHER LIMITED (REGISTERED NUMBER: SC078787)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
Valuation in 2004 - - 108,757
Cost 108,815 9,049 2,314,293
108,815 9,049 2,423,050

If freehold land and buildings had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 99,318 99,318
Aggregate depreciation 117,018 113,124

Freehold land and buildings were valued on an open market basis on 31 January 2004 by Barr Brady, Chartered Surveyors .

The net book value of tangible fixed assets includes £ 383,706 (2022 - £ 281,724 ) in respect of assets held under hire purchase contracts.

5. FIXED ASSET INVESTMENTS
Listed
investments
£   
COST OR VALUATION
At 1 July 2022
and 30 June 2023 1,907
NET BOOK VALUE
At 30 June 2023 1,907
At 30 June 2022 1,907

Cost or valuation at 30 June 2023 is represented by:

Listed
investments
£   
Valuation in 2019 (293 )
Cost 2,200
1,907

6. STOCKS
2023 2022
£    £   
Stocks 86,689 86,689

ALEX MATHER LIMITED (REGISTERED NUMBER: SC078787)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 103,230 108,535
Amounts owed by group undertakings 106,254 120,734
Prepayments and accrued income 8,317 9,210
217,801 238,479

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 152,229 87,682
Trade creditors 61,788 126,271
Social security and other taxes (57,128 ) (95,941 )
Accrued charges 7,556 12,281
174,445 140,293

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loan 10,000 10,000
Bank loans - 2-5 years 17,500 27,500
Hire purchase contracts 101,429 127,134
128,929 164,634

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 37,500 47,500
Hire purchase contracts 253,658 214,816
291,158 262,316

The bank overdraft facility is secured by a Standard Security over the company's premises at 100 East Princes Street, Helensburgh and by a Bond and Floating charge over all company assets.

Hire purchase creditors are secured against the assets to which the agreements relate.

11. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 117,306 103,974

ALEX MATHER LIMITED (REGISTERED NUMBER: SC078787)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

11. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 July 2022 103,974
Accelerated capital allowances 13,332
Balance at 30 June 2023 117,306

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

12. RELATED PARTY DISCLOSURES

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.

13. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is PKD Group Limited.

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
ALEX MATHER LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Alex Mather Limited for the year ended 30 June 2023 which comprise the Profit and loss, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of Alex Mather Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Alex Mather Limited and state those matters that we have agreed to state to the Board of Directors of Alex Mather Limited, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Alex Mather Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Alex Mather Limited. You consider that Alex Mather Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Alex Mather Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Milne Craig
Chartered Accountants
Abercorn House
79 Renfrew Road
Paisley
Renfrewshire
PA3 4DA


11 March 2024