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REGISTERED NUMBER: SC272300 (Scotland)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Almacit Engineering Ltd.

Almacit Engineering Ltd. (Registered number: SC272300)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Almacit Engineering Ltd.

Company Information
for the Year Ended 31 March 2024







DIRECTORS: A McDonald
C McDonald
S A McDonald





SECRETARY: Mrs A M Parnham





REGISTERED OFFICE: The Kennels
Gordon Castle
Fochabers
Moray
IV32 7PQ





REGISTERED NUMBER: SC272300 (Scotland)





ACCOUNTANT: Gordon Scott
Chartered Accountants
Scottca Ltd
34 Ferryhill
Forres
Moray
IV36 2GY

Almacit Engineering Ltd. (Registered number: SC272300)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 109,480 121,829
109,480 121,829

CURRENT ASSETS
Stocks 24,911 14,796
Debtors 6 56,659 54,417
Cash at bank 38,051 44,512
119,621 113,725
CREDITORS
Amounts falling due within one year 7 60,363 86,900
NET CURRENT ASSETS 59,258 26,825
TOTAL ASSETS LESS CURRENT
LIABILITIES

168,738

148,654

CREDITORS
Amounts falling due after more than one
year

8

(64,338

)

(52,714

)

PROVISIONS FOR LIABILITIES (11,931 ) (15,199 )
NET ASSETS 92,469 80,741

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 92,467 80,739
SHAREHOLDERS' FUNDS 92,469 80,741

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

Almacit Engineering Ltd. (Registered number: SC272300)

Balance Sheet - continued
31 March 2024


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 Income Statement has not been delivered.

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





A McDonald - Director


Almacit Engineering Ltd. (Registered number: SC272300)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Almacit Engineering Ltd. is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue is recognised as follows:

Sale of Goods

Sale of goods are recognised when the company has delivered products to the customer, the customer has accepted the products, and collectability of the related receivables is fairly assured.

Construction contracts and rendering of Services

Revenue from construction contracts, including long-term service provision contracts, is recognised by reference to the sage of completion of contact activity at the balance sheet date. This is normally determined by the proportion that contract costs incurred to date bear to the estimated total contract costs, except where this would not be representative of the stage of completion.. If the nature of a particular contract means that costs incurred do not accurately reflect the progress of contact activity, an alternative approach is used such as the achievement of pre-determined contract milestones.

Profit attributable to contact activity is recognised if the final outcome of such contracts can be reliably assessed. On all contracts, full provision is made for any losses in the year in which they are first foreseen.
Revenue from services provided on a short-term or one-off basis is recognised when the service is completed.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2004, is being amortised evenly over its estimated useful life of ten years.

Useful life of goodwill has been changed from 20 to 10 years inline with FRS102(a).

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 5% on reducing balance
Plant and machinery etc - 33% on cost, 25% on reducing balance and 15% on reducing balance

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Almacit Engineering Ltd. (Registered number: SC272300)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

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

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Deferred government grants
Deferred government grants in respect of capital expenditure are treated as deferred income and are credited to the profit and loss account in line with the terms of the agreement.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 9 ) .

Almacit Engineering Ltd. (Registered number: SC272300)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 30,000
AMORTISATION
At 1 April 2023
and 31 March 2024 30,000
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2023 90,489 362,103 452,592
Additions 2,250 928 3,178
At 31 March 2024 92,739 363,031 455,770
DEPRECIATION
At 1 April 2023 48,651 282,112 330,763
Charge for year 2,205 13,322 15,527
At 31 March 2024 50,856 295,434 346,290
NET BOOK VALUE
At 31 March 2024 41,883 67,597 109,480
At 31 March 2023 41,838 79,991 121,829

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 56,659 54,383
Other debtors - 34
56,659 54,417

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 18,893 15,891
Taxation and social security 12,925 16,612
Other creditors 18,545 44,397
60,363 86,900

Almacit Engineering Ltd. (Registered number: SC272300)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans 11,667 21,667
Other creditors 52,671 31,047
64,338 52,714

9. ULTIMATE CONTROLLING PARTY

The controlling party is A McDonald.