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REGISTERED NUMBER: SC380901 (Scotland)















SOLAS ALBA LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024






SOLAS ALBA LIMITED (REGISTERED NUMBER: SC380901)

CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 30 June 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


SOLAS ALBA LIMITED

COMPANY INFORMATION
For The Year Ended 30 June 2024







DIRECTORS: J Breslin
A M Breslin





SECRETARY: A M Breslin





REGISTERED OFFICE: 29C Hardridge Road
Glasgow
G52 1RH





REGISTERED NUMBER: SC380901 (Scotland)





ACCOUNTANTS: Benham Conway & Co
16 Royal Crescent
Glasgow
G3 7SL

SOLAS ALBA LIMITED (REGISTERED NUMBER: SC380901)

BALANCE SHEET
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 33,231 45,509

CURRENT ASSETS
Debtors 5 11,968 6,166
Cash at bank 16,574 34,685
28,542 40,851
CREDITORS
Amounts falling due within one year 6 39,872 47,273
NET CURRENT LIABILITIES (11,330 ) (6,422 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

21,901

39,087

PROVISIONS FOR LIABILITIES 7,541 9,334
NET ASSETS 14,360 29,753

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 14,358 29,751
SHAREHOLDERS' FUNDS 14,360 29,753

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 19 February 2025 and were signed on its behalf by:



A M Breslin - Director


SOLAS ALBA LIMITED (REGISTERED NUMBER: SC380901)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 30 June 2024


1. STATUTORY INFORMATION

Solas Alba 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.

Turnover
Turnover represents the net invoiced sales of goods and services supplied by the company in the year, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery etc - 25% on cost and 25% on reducing balance

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.

Hire purchase
Assets obtained under hire purchase contracts are capitalised in the balance sheet. These assets are initially recognised at transaction price and are depreciated over their estimated useful lives. The interest element of these obligations is charged to the profit and loss account over the relevant period using the effective interest rate method. The capital element of future payments is treated as a liability.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

SOLAS ALBA LIMITED (REGISTERED NUMBER: SC380901)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 30 June 2024


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2023 110,889
Additions 4,605
Disposals (939 )
At 30 June 2024 114,555
DEPRECIATION
At 1 July 2023 65,380
Charge for year 16,883
Eliminated on disposal (939 )
At 30 June 2024 81,324
NET BOOK VALUE
At 30 June 2024 33,231
At 30 June 2023 45,509

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors 10,408 3,843
Other debtors 1,560 2,323
11,968 6,166

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Hire purchase contracts 5,275 7,499
Directors' loan account 333 -
Taxation and social security 33,264 38,774
Other creditors 1,000 1,000
39,872 47,273

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At 30 June 2023 the company has provided the directors with interest free loans totalling £1,476 (2022, £0) which was included in other debtors. This has been repaid in the year.

8. RELATED PARTY DISCLOSURES

At 30 June 2024 the directors had provided the company with interest free loans of £333 (2023, £0). There are no fixed repayment terms for these loans.