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Unaudited Financial Statements for the Year Ended 30 April 2024

for

Alchemy Inns Limited

Alchemy Inns Limited (Registered number: SC221936)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Alchemy Inns Limited

Company Information
for the Year Ended 30 April 2024







DIRECTORS: T McMillan
M McShane



REGISTERED OFFICE: 24 Carlyle Avenue
Hillington Park
Glasgow
G52 4XX



REGISTERED NUMBER: SC221936 (Scotland)



ACCOUNTANTS: Ian Macfarlane Limited
Chartered Accountants
2 Melville Street
Falkirk
FK1 1HZ



BANKERS: Bank of Scotland
24 La Porte Precinct
Grangemouth
FK3 8AS

Alchemy Inns Limited (Registered number: SC221936)

Balance Sheet
30 April 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 5,583,886 5,255,917

CURRENT ASSETS
Stocks 40,000 57,000
Debtors 5 1,756,654 1,709,561
Cash at bank 69,132 65,132
1,865,786 1,831,693
CREDITORS
Amounts falling due within one year 6 1,548,384 1,154,770
NET CURRENT ASSETS 317,402 676,923
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,901,288

5,932,840

CREDITORS
Amounts falling due after more than one year 7 (2,529,492 ) (2,733,621 )

PROVISIONS FOR LIABILITIES (274,570 ) (246,751 )
NET ASSETS 3,097,226 2,952,468

CAPITAL AND RESERVES
Called up share capital 9 121,201 121,201
Revaluation reserve 10 529,607 529,607
Retained earnings 2,446,418 2,301,660
SHAREHOLDERS' FUNDS 3,097,226 2,952,468

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

Alchemy Inns Limited (Registered number: SC221936)

Balance Sheet - continued
30 April 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 January 2025 and were signed on its behalf by:





T McMillan - Director


Alchemy Inns Limited (Registered number: SC221936)

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

1. STATUTORY INFORMATION

Alchemy Inns 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 as modified by the revaluation of certain assets.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Land and buildings - 10% on cost and not provided
Plant and machinery etc - 25% on reducing balance and 15% on reducing balance

The director has decided not to depreciate Heritable Property in contravention of standard accounting policy, due to the fact that the properties were revalued on 1st June 2011. The depreciation policy will be reviewed on an annual basis.

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

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.

Alchemy Inns Limited (Registered number: SC221936)

Notes to the Financial Statements - continued
for the Year Ended 30 April 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.

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 3 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1 May 2023 4,061,592 2,178,497 6,240,089
Additions 250,000 671,707 921,707
Disposals - (376,400 ) (376,400 )
At 30 April 2024 4,311,592 2,473,804 6,785,396
DEPRECIATION
At 1 May 2023 30,000 954,172 984,172
Charge for year - 252,356 252,356
Eliminated on disposal - (35,018 ) (35,018 )
At 30 April 2024 30,000 1,171,510 1,201,510
NET BOOK VALUE
At 30 April 2024 4,281,592 1,302,294 5,583,886
At 30 April 2023 4,031,592 1,224,325 5,255,917

Cost or valuation at 30 April 2024 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 2011 529,607 - 529,607
Cost 3,781,985 2,473,804 6,255,789
4,311,592 2,473,804 6,785,396

Alchemy Inns Limited (Registered number: SC221936)

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

4. TANGIBLE FIXED ASSETS - continued

If freehold & leasehold property had not been revalued they would have been included at the following historical cost:

30.4.24 30.4.23
£    £   
Cost 3,029,778 3,029,778
Aggregate depreciation 30,000 30,000

Freehold & leasehold property were valued on a market value basis on 1 June 2011 by DM Hall LLP, Chartered Surveyors .

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST OR VALUATION
At 1 May 2023 683,013
Additions 538,025
Disposals (355,400 )
Transfer to ownership 116,000
At 30 April 2024 981,638
DEPRECIATION
At 1 May 2023 102,452
Charge for year 150,806
Eliminated on disposal (31,868 )
Transfer to ownership 17,400
At 30 April 2024 238,790
NET BOOK VALUE
At 30 April 2024 742,848
At 30 April 2023 580,561

5. DEBTORS
30.4.24 30.4.23
£    £   
Amounts falling due within one year:
Trade debtors 266,772 137,958
Other debtors 127,913 262,806
394,685 400,764

Alchemy Inns Limited (Registered number: SC221936)

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

5. DEBTORS - continued
30.4.24 30.4.23
£    £   
Amounts falling due after more than one year:
Other debtors 1,361,969 1,308,797

Aggregate amounts 1,756,654 1,709,561

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans and overdrafts 171,636 179,764
Hire purchase contracts 303,154 297,020
Trade creditors 183,941 224,148
Taxation and social security 27,086 -
Other creditors 862,567 453,838
1,548,384 1,154,770

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.4.24 30.4.23
£    £   
Bank loans 1,769,240 1,930,928
Hire purchase contracts 183,704 151,145
Other creditors 576,548 651,548
2,529,492 2,733,621

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 1,045,547 1,048,332

8. SECURED DEBTS

The following secured debts are included within creditors:

30.4.24 30.4.23
£    £   
Bank loans 1,940,876 2,110,692
Other loans 691,548 766,548
Hire purchase contracts 486,858 448,165
3,119,282 3,325,405

The company's loans are secured by a floating charge over the company assets and standard securities over some of the company's properties.

Alchemy Inns Limited (Registered number: SC221936)

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

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.4.24 30.4.23
value: £    £   
101,001 Ordinary "A" Class £1 101,001 101,001
20,200 Ordinary "B" class £1 20,200 20,200
121,201 121,201

10. RESERVES
Revaluation
reserve
£   
At 1 May 2023
and 30 April 2024 529,607

11. RELATED PARTY DISCLOSURES

During the year the company was under the control of it's directors and major shareholder Mr. Thomas McMillan. The company traded with Alchemy Developments (Scot) Ltd, Alchemy Investments (Scotland) Ltd, M3 Contracts Falkirk Ltd and Plaschem Ltd - companies under the same control.

Mr McMillan is a director in Alchemy Developments (Scot) Ltd. The company was due £961,969 (2023 - £908,796) from Alchemy Developments (Scot) Ltd at the year end.

Mr McMillan is a director in Alchemy Investments (Scotland) Ltd. The company was due to pay Alchemy Inns Ltd £198,715 at the year end (2023 - £169,270) .

Mr McMillan is a director in Plaschem Ltd. Plaschem Ltd was due to pay Alchemy Inns Ltd £Nil (2023 - £28,800) at the year end. The company sold Plaschem goods and services totalling £Nil (2023 - £24,000) during the year.

Mr McMillan is a director in M3 Contracts Falkirk Ltd. The company was due to pay £205,099 at the year end. The company sold M3 Contracts Falkirk Ltd goods and services totalling £55,631 during the year.