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REGISTERED NUMBER: SC731596 (Scotland)












Financial Statements for the Year Ended 30 June 2024

for

THE ALBA EXPLORERS LTD

THE ALBA EXPLORERS LTD (REGISTERED NUMBER: SC731596)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


THE ALBA EXPLORERS LTD

Company Information
for the Year Ended 30 June 2024







DIRECTORS: J A Lynch
J D Lynch





REGISTERED OFFICE: 6 East Mains
Edzell
Brechin
Angus
DD9 7WE





REGISTERED NUMBER: SC731596 (Scotland)





ACCOUNTANTS: Account Tax Ltd
Chartered Certified Accountants
12 Traill Drive
Montrose
Angus
DD10 8SW

THE ALBA EXPLORERS LTD (REGISTERED NUMBER: SC731596)

Balance Sheet
30 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 17,046 22,256

CURRENT ASSETS
Debtors 5 5,379 2,154
Cash at bank 35,836 26,647
41,215 28,801
CREDITORS
Amounts falling due within one year 6 22,146 11,403
NET CURRENT ASSETS 19,069 17,398
TOTAL ASSETS LESS CURRENT
LIABILITIES

36,115

39,654

CREDITORS
Amounts falling due after more than one
year

7

(7,891

)

(11,340

)

PROVISIONS FOR LIABILITIES (3,573 ) (4,229 )
NET ASSETS 24,651 24,085

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 24,451 23,885
SHAREHOLDERS' FUNDS 24,651 24,085

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 ALBA EXPLORERS LTD (REGISTERED NUMBER: SC731596)

Balance Sheet - continued
30 June 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 Profit & Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 November 2024 and were signed on its behalf by:





J A Lynch - Director


THE ALBA EXPLORERS LTD (REGISTERED NUMBER: SC731596)

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

1. STATUTORY INFORMATION

The Alba Explorers 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.

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 - 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss Account, 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 material 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 4 ) .

THE ALBA EXPLORERS LTD (REGISTERED NUMBER: SC731596)

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

4. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1 July 2023 24,844 - 24,844
Additions - 472 472
At 30 June 2024 24,844 472 25,316
DEPRECIATION
At 1 July 2023 2,588 - 2,588
Charge for year 5,564 118 5,682
At 30 June 2024 8,152 118 8,270
NET BOOK VALUE
At 30 June 2024 16,692 354 17,046
At 30 June 2023 22,256 - 22,256

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 5,379 1,654
Other debtors - 500
5,379 2,154

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 4,569 4,569
Taxation and social security 15,421 5,645
Other creditors 2,156 1,189
22,146 11,403

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts 7,891 11,340

8. RELATED PARTY DISCLOSURES

During the year, total dividends of £48,000 (2023 - £19,969) were paid to the directors .

THE ALBA EXPLORERS LTD (REGISTERED NUMBER: SC731596)

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

8. RELATED PARTY DISCLOSURES - continued

The company was under control of the directors throughout the current year and previous period. During the year the directors advanced the company net amounts totalling £246. As at 30 June 2024, included within other creditors, is a balance outstanding due to the directors of £246 (2023 - £0). No interest has been paid on this loan.