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REGISTERED NUMBER: 07626744 (England and Wales)
















Unaudited Financial Statements for the Year Ended 31 May 2024

for

Alma Resources Ltd

Alma Resources Ltd (Registered number: 07626744)






Contents of the Financial Statements
for the Year Ended 31 May 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Alma Resources Ltd

Company Information
for the Year Ended 31 May 2024







DIRECTOR: A H Birkmyre





SECRETARY: A H Birkmyre





REGISTERED OFFICE: 57,Greystoke Park
Newcastle Upon Tyne
Tyne and Wear
NE3 2DZ





REGISTERED NUMBER: 07626744 (England and Wales)





ACCOUNTANTS: McLay McAlister & McGibbon LLP
Chartered Accountants
145 St Vincent Street
Glasgow
G2 5JF

Alma Resources Ltd (Registered number: 07626744)

Balance Sheet
31 May 2024

31.5.24 31.5.23
Notes £    £   
FIXED ASSETS
Investment property 4 150,000 150,000

CURRENT ASSETS
Debtors 5 1,392 -
Investments 6 1,725,814 1,535,732
Cash at bank 48,253 21,392
1,775,459 1,557,124
CREDITORS
Amounts falling due within one year 7 (2,406 ) (4,009 )
NET CURRENT ASSETS 1,773,053 1,553,115
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,923,053

1,703,115

PROVISIONS FOR LIABILITIES (130,331 ) (94,594 )
NET ASSETS 1,792,722 1,608,521

CAPITAL AND RESERVES
Called up share capital 10 10
Share premium 627,117 627,117
Fair value reserve 8 708,843 530,054
Retained earnings 456,752 451,340
SHAREHOLDERS' FUNDS 1,792,722 1,608,521

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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.

Alma Resources Ltd (Registered number: 07626744)

Balance Sheet - continued
31 May 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 21 January 2025 and were signed by:





A H Birkmyre - Director


Alma Resources Ltd (Registered number: 07626744)

Notes to the Financial Statements
for the Year Ended 31 May 2024

1. STATUTORY INFORMATION

Alma Resources Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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 represents rental income receivable and investment income.

Investment property
Investment properties are shown at their open market value. The surplus or deficit from the annual revaluation is transferred to the investment revaluation reserve unless a deficit, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the profit and loss account for the year.

This is in accordance with the FRS102, which, unlike the Companies Act 2006, does not require depreciation of investment properties. Investment properties are held for their investment potential and not for use by the company and so their current value of prime importance. The departure from the provisions of the Act is required in order to give a true and fair view.

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.

Current asset investments
FRS 102 1A Small Entities requires current asset investments to be reported at fair value, with any movements being recognised in the profit and loss account. Prior to this, under UK GAAP, current asset investments were held at cost with any movements being allocated to the profit and loss account.

FRS 102 1A Small Entities requires deferred tax has to be provided for on all timing differences.

Turnover
Turnover represents rental income receivable.

Alma Resources Ltd (Registered number: 07626744)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

3. EMPLOYEES AND DIRECTORS

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

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2023
and 31 May 2024 150,000
NET BOOK VALUE
At 31 May 2024 150,000
At 31 May 2023 150,000

The director considers £150,000 to be an appropriate valuation of the investment property as at 31/05/2024.

Fair value at 31 May 2024 is represented by:
£   
Valuation in 2020 94,418
Cost 55,582
150,000

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Other debtors 1,392 -

6. CURRENT ASSET INVESTMENTS
31.5.24 31.5.23
£    £   
Listed investments 1,725,814 1,535,732
Market value of listed investments at 31 May 2024 - £ 1,725,814 (2023 - £ 1,535,732 ).

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Taxation and social security - 1,741
Other creditors 2,406 2,268
2,406 4,009

Alma Resources Ltd (Registered number: 07626744)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2024

8. RESERVES
Fair
value
reserve
£   
At 1 June 2023 530,054
Reserves 214,526
Deferred tax (35,737 )

At 31 May 2024 708,843