REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period |
1 May 2024 to 31 January 2025 |
for |
ALM Venture Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period |
1 May 2024 to 31 January 2025 |
for |
ALM Venture Limited |
ALM Venture Limited (Registered number: SC507647) |
Contents of the Financial Statements |
for the Period 1 May 2024 to 31 January 2025 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 3 |
ALM Venture Limited |
Company Information |
for the Period 1 May 2024 to 31 January 2025 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
28 Rutland Square |
Edinburgh |
EH1 2BW |
BANKERS: |
Princes Exchange |
3 Earl Grey Street |
Edinburgh |
EH3 9BN |
ALM Venture Limited (Registered number: SC507647) |
Statement of Financial Position |
31 January 2025 |
2025 | 2024 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investments | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
CAPITAL AND RESERVES |
Called up share capital | 7 |
Retained earnings | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) |
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 were approved by the Board of Directors and authorised for issue on |
ALM Venture Limited (Registered number: SC507647) |
Notes to the Financial Statements |
for the Period 1 May 2024 to 31 January 2025 |
1. | STATUTORY INFORMATION |
ALM Venture Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Financial instruments |
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and payables, loans from banks and other third parties. |
At the end of each reporting period, financial assets that are measured at cost are assessed for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the . Income Statement. If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in the Income Statement. |
Financial assets are derecognised when (a) the contractual rights to the cash flows arising from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party, or (c) control of the asset has been transferred to another party. |
Financial liabilities are measured at amortised cost less any accumulated impairment losses. Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires. |
Taxation |
Taxation for the period 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 statement of financial position date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 period 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. |
Fixed asset investments |
Fixed asset investments are included in the company's statement of financial position at cost less any amounts written off for permanent diminution in value. |
At the end of each reporting period, investments are assessed for objective evidence of impairment. If objective evidence is found, an impairment loss is recognised in the Income Statement. |
On disposal of an investment, the difference between the disposal proceeds and the carrying amount of the investment is recognised in the Income Statement. |
ALM Venture Limited (Registered number: SC507647) |
Notes to the Financial Statements - continued |
for the Period 1 May 2024 to 31 January 2025 |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was NIL (2024 - NIL). |
4. | FIXED ASSET INVESTMENTS |
Interest |
in joint |
venture |
£ |
COST |
At 1 May 2024 |
Disposals | ( |
) |
Share of profit/(loss) | (1,197 | ) |
At 31 January 2025 |
NET BOOK VALUE |
At 31 January 2025 |
At 30 April 2024 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2025 | 2024 |
£ | £ |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2025 | 2024 |
£ | £ |
Other creditors |
7. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2025 | 2024 |
value: | £ | £ |
Ordinary A | £1 | 26 | 26 |
Ordinary B | £1 | 26 | 26 |
52 | 52 |
8. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The Directors loan to the company of £5,095 (2024 £9,439) is interest free, unsecured and is repayable on demand. |
9. | RELATED PARTY DISCLOSURES |
Included in other debtors was a loan of £289,984 (2024 £289,984) to ALM Properties Limited, a company controlled by Mr & Mrs K McDonald. This loan was written off in the period. |