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REGISTERED NUMBER: SC278962 (Scotland)















Unaudited Financial Statements for the Year Ended 30 June 2024

for

Algo Business Centre Limited

Algo Business Centre Limited (Registered number: SC278962)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


Algo Business Centre Limited (Registered number: SC278962)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 277,550 136,859
Investments 5 859,027 819,502
1,136,577 956,361

CURRENT ASSETS
Debtors 6 822,717 872,060
Cash at bank and in hand 5,564 15,132
828,281 887,192
CREDITORS
Amounts falling due within one year 7 (189,808 ) (108,240 )
NET CURRENT ASSETS 638,473 778,952
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,775,050

1,735,313

CREDITORS
Amounts falling due after more than one
year

8

(33,753

)

-

PROVISIONS FOR LIABILITIES (13,578 ) -
NET ASSETS 1,727,719 1,735,313

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 1,727,718 1,735,312
SHAREHOLDERS' FUNDS 1,727,719 1,735,313

Algo Business Centre Limited (Registered number: SC278962)

Balance Sheet - continued
30 June 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 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 11 October 2024 and were signed by:





Mr C M Alexander - Director


Algo Business Centre Limited (Registered number: SC278962)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

Algo Business Centre Limited is a private company, limited by shares, domiciled in Scotland, registration number SC278962. The registered office is Mains of Mause, Blairgowrie, PH10 6TE.

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 net invoiced sales of services, excluding value added tax. Sales are recognised at the point at which the service is complete.

Tangible fixed assets and depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Sheds - 4% on cost
Fixtures and fittings - 20% on reducing balance

Tangible fixed assets are stated at cost less depreciation. Cost represent purchase price together with any incidental costs of acquisition.

The directors have considered the residual value of all tangible fixed assets to be immaterial and therefore all tangible fixed assets are depreciated to nil value.

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.

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.

Algo Business Centre Limited (Registered number: SC278962)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

2. ACCOUNTING POLICIES - continued

Provisions
Provisions are recognised when the company has a legal or constructive obligation as a result of a past event, it is probable that an outflow of resources will be required to settle the obligation, and the amount has been reliably estimated. Provisions are not recognised for future operating losses. Provisions are discounted where the time value of money is material.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and
Sheds fittings Totals
£    £    £   
COST
At 1 July 2023 185,000 35,226 220,226
Additions - 153,614 153,614
At 30 June 2024 185,000 188,840 373,840
DEPRECIATION
At 1 July 2023 53,320 30,047 83,367
Charge for year 4,814 8,109 12,923
At 30 June 2024 58,134 38,156 96,290
NET BOOK VALUE
At 30 June 2024 126,866 150,684 277,550
At 30 June 2023 131,680 5,179 136,859

5. FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:
30.6.24 30.6.23
£    £   
Investment in partnerships 859,027 819,502

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors 30,534 11,282
Amounts owed by related parties 318,020 469,066
Other debtors 474,163 391,712
822,717 872,060

Algo Business Centre Limited (Registered number: SC278962)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade creditors 121,037 38,766
Amounts owed to related parties 33,655 23,874
Taxation and social security 23,824 31,992
Other creditors 11,292 13,608
189,808 108,240

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.24 30.6.23
£    £   
Other creditors 33,753 -

Amounts falling due in more than five years:

Repayable by instalments
Other loans more 5yrs instal 14,232 -

9. SECURED DEBTS

Bank of Scotland plc holds bond and floating charge over the whole assets of the company.

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 June 2024 and 30 June 2023:

30.6.24 30.6.23
£    £   
Mr C M Alexander
Balance outstanding at start of year 270,693 199,305
Amounts advanced 78,282 71,388
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 348,975 270,693

11. RELATED PARTY DISCLOSURES

Transactions and balances with entities with common control are as follows:

Sales - £98,649 (2023: £101,570)
Purchases - £367,337 (2023: £404,000)
Amounts Owed by related parties - £318,020 (2023: £469,066)
Amounts Due to related parties- £33,655 (2023: £23,874)
Recognised bad or doubtful debts due from related parties £36,553 (2023: £Nil)