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REGISTERED NUMBER: SC500466 (Scotland)















Unaudited Financial Statements for the Year Ended 30 June 2024

for

Alfa Doors Limited

Alfa Doors Limited (Registered number: SC500466)






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




Page

Balance Sheet 1

Notes to the Financial Statements 3


Alfa Doors Limited (Registered number: SC500466)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 731,201 748,305

CURRENT ASSETS
Stocks 56,574 90,834
Debtors 5 861,176 660,041
Cash at bank 153,737 154,234
1,071,487 905,109
CREDITORS
Amounts falling due within one year 6 (537,931 ) (522,326 )
NET CURRENT ASSETS 533,556 382,783
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,264,757

1,131,088

CREDITORS
Amounts falling due after more than one
year

7

(212,485

)

(248,018

)

PROVISIONS FOR LIABILITIES (27,324 ) (28,832 )
NET ASSETS 1,024,948 854,238

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,024,848 854,138
SHAREHOLDERS' FUNDS 1,024,948 854,238

Alfa Doors Limited (Registered number: SC500466)

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 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.

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 October 2024 and were signed on its behalf by:




Mr C M Alexander - Director



Mr A A Farmer - Director


Alfa Doors Limited (Registered number: SC500466)

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

1. STATUTORY INFORMATION

Alfa Doors Limited is a private company, limited by shares, domiciled in Scotland, registration number SC500466. The registered office is Algo Business Centre, Glenearn Road, Perth, PH2 0NJ.

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 goods and services in respect of the installation and repair of roller doors, excluding value added tax. Sales are recognised at the point at which the goods are delivered or 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - 4% on cost
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% 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 assets are depreciated to nil value.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost is represented by purchase price.

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.

Alfa Doors Limited (Registered number: SC500466)

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

2. ACCOUNTING POLICIES - continued

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.

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 11 (2023 - 9 ) .

4. TANGIBLE FIXED ASSETS
Freehold Plant and Motor Computer
property machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 July 2023 696,558 53,399 171,635 4,908 926,500
Additions 17,250 - 27,000 1,066 45,316
Disposals - - (15,995 ) - (15,995 )
At 30 June 2024 713,808 53,399 182,640 5,974 955,821
DEPRECIATION
At 1 July 2023 63,582 23,226 88,500 2,887 178,195
Charge for year 28,320 4,526 21,742 906 55,494
Eliminated on disposal - - (9,069 ) - (9,069 )
At 30 June 2024 91,902 27,752 101,173 3,793 224,620
NET BOOK VALUE
At 30 June 2024 621,906 25,647 81,467 2,181 731,201
At 30 June 2023 632,976 30,173 83,135 2,021 748,305

Alfa Doors Limited (Registered number: SC500466)

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

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 July 2023 48,250
Transfer to ownership (48,250 )
At 30 June 2024 -
DEPRECIATION
At 1 July 2023 23,308
Charge for year 6,235
Transfer to ownership (29,543 )
At 30 June 2024 -
NET BOOK VALUE
At 30 June 2024 -
At 30 June 2023 24,942

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors 265,014 220,644
Amounts owed by related parties 539,413 388,575
Other debtors 56,749 50,822
861,176 660,041

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans and overdrafts 28,000 27,072
Hire purchase contracts - 3,969
Trade creditors 166,454 137,557
Amounts owed to related parties - 2,409
Taxation and social security 84,439 118,390
Other creditors 259,038 232,929
537,931 522,326

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.24 30.6.23
£    £   
Bank loans 176,079 204,080
Other creditors 36,406 43,938
212,485 248,018

Alfa Doors Limited (Registered number: SC500466)

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

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
30.6.24 30.6.23
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 55,038 86,721
Other loans more 5yrs instal 6,277 13,809
61,315 100,530

8. SECURED DEBTS

The following secured debts are included within creditors:

30.6.24 30.6.23
£    £   
Bank loans 204,079 231,152
Hire purchase contracts - 3,969
204,079 235,121

Amounts due on hire purchase are secured over the individual assets concerned.

Bank loans are secured over the plot of ground at Bridgend of Carse, The Grange, Errol along with a floating charge over the whole of the company assets.

9. RELATED PARTY DISCLOSURES

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

Sales - £567,752 (2023: £528,199)
Purchases - £16,190 (2023: £15,938)
Amounts Owed by related parties - £539,413 (2023: £388,575)
Amounts Due to related parties- £Nil (2023: £2,409)