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REGISTERED NUMBER: SC274682 (Scotland)




















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

ALBAMILL NEWMAINS LIMITED

ALBAMILL NEWMAINS LIMITED (REGISTERED NUMBER: SC274682)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 4


ALBAMILL NEWMAINS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: Mr James Nisbet





SECRETARY:





REGISTERED OFFICE: 18A Biggar Road
Cleland
Motherwell
Lanarkshire
ML1 5PB





REGISTERED NUMBER: SC274682 (Scotland)





ACCOUNTANTS: Feely & Company, Chartered Accountants
165 Main Street
Wishaw
Lanarkshire
ML2 7AU

CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR
ON THE UNAUDITED FINANCIAL STATEMENTS OF
ALBAMILL NEWMAINS LIMITED

The following reproduces the text of the report prepared for the director 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 Director 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 Albamill Newmains Limited for the year ended 31 December 2023 which comprise the Income Statement, Balance Sheet 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 director of Albamill Newmains Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Albamill Newmains Limited and state those matters that we have agreed to state to the director of Albamill Newmains Limited 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 director for our work or for this report.

It is your duty to ensure that Albamill Newmains 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 Albamill Newmains Limited. You consider that Albamill Newmains 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 Albamill Newmains 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.






Feely & Company, Chartered Accountants
165 Main Street
Wishaw
Lanarkshire
ML2 7AU


Date: .............................................

ALBAMILL NEWMAINS LIMITED (REGISTERED NUMBER: SC274682)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 405,018 400,200

CURRENT ASSETS
Stocks 348,492 330,572
Cash at bank 7,315 2,201
355,807 332,773
CREDITORS
Amounts falling due within one year 5 437,717 492,203
NET CURRENT LIABILITIES (81,910 ) (159,430 )
TOTAL ASSETS LESS CURRENT LIABILITIES 323,108 240,770

CREDITORS
Amounts falling due after more than one year 6 313,000 250,000
NET ASSETS/(LIABILITIES) 10,108 (9,230 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 10,008 (9,330 )
SHAREHOLDERS' FUNDS 10,108 (9,230 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 director and authorised for issue on 26 September 2024 and were signed by:





Mr James Nisbet - Director


ALBAMILL NEWMAINS LIMITED (REGISTERED NUMBER: SC274682)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Albamill Newmains Limited 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 represents income received from property rental and the provision of services.

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

Freehold property has not been depreciated. The existing buildings are being refurbished and extended and it is expected that the value on completion of all work will be substantially in excess of the historical costs. This will be supported by a valuation prepared by the appropriate professionals.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

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.

Basic financial instruments
Basic financial instruments, including short term trade and other debtors due to settled within one year, are accounted for at their transaction price.

Trade and other debtors are reviewed for impairment (e.g. bad debts) at the end of each accounting period.

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 but only in those instances where the amount is deemed to be significant.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 1 ) .

ALBAMILL NEWMAINS LIMITED (REGISTERED NUMBER: SC274682)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2023 386,730 79,567 466,297
Additions 18,350 9,800 28,150
Disposals (20,120 ) - (20,120 )
At 31 December 2023 384,960 89,367 474,327
DEPRECIATION
At 1 January 2023 - 66,097 66,097
Charge for year - 3,212 3,212
At 31 December 2023 - 69,309 69,309
NET BOOK VALUE
At 31 December 2023 384,960 20,058 405,018
At 31 December 2022 386,730 13,470 400,200

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 40,007 44,167
Trade creditors - 1
Taxation and social security 15,803 18,260
Other creditors 381,907 429,775
437,717 492,203

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Other creditors 313,000 250,000