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REGISTERED NUMBER: NI701108 (Northern Ireland)













ALM Financial Ltd

Unaudited Financial Statements

for the Year Ended 31 December 2024






ALM Financial Ltd (Registered number: NI701108)

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










Page

Company information 1

Statement of financial position 2 to 3

Notes to the financial statements 4 to 8


ALM Financial Ltd

Company Information
for the Year Ended 31 December 2024







Directors: Mr S P Andrews
Mr L T Best
Mrs C Nicholl
Mrs C M M Strain-McDonnell





Registered office: 49 Church Street
Portadown
Co Armagh
BT62 3EU





Registered number: NI701108 (Northern Ireland)





Accountants: Wylie Ruddell
Chartered Accountants
Armagh Business Centre
2 Loughgall Road
Armagh
BT61 7NH

ALM Financial Ltd (Registered number: NI701108)

Statement of Financial Position
31 December 2024

2024 2023
Notes £ £
Fixed assets
Intangible assets 4 1,170,000 -
Property, plant and equipment 5 650 -
1,170,650 -

Current assets
Receivables 6 41,820 -
Cash at bank and in hand 7 131,029 400
172,849 400
Payables
Amounts falling due within one year 8 (274,785 ) -
Net current (liabilities)/assets (101,936 ) 400
Total assets less current liabilities 1,068,714 400

Payables
Amounts falling due after more than one
year

9

(1,021,926

)

-

Provisions for liabilities 10 (163 ) -
Net assets 46,625 400

Capital and reserves
Called up share capital 11 400 400
Retained earnings 46,225 -
Shareholders' funds 46,625 400

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

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

ALM Financial Ltd (Registered number: NI701108)

Statement of Financial Position - continued
31 December 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 income and retained earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 March 2025 and were signed on its behalf by:





Mr L T Best - Director


ALM Financial Ltd (Registered number: NI701108)

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


1. Statutory information

ALM Financial Ltd is a private company, limited by shares , registered in Northern Ireland. 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.

Revenue
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2024, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Property, plant and equipment
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.
Fixtures and fittings - 15% on reducing balance
Computer equipment - 20% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 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.

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.

Receivables
Short term receivables are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

ALM Financial Ltd (Registered number: NI701108)

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


2. Accounting policies - continued

Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Payables
Short term payables are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting. Dividends on shares recognised as liabilities are recognised as expenses and classified within interest payable.

Provisions for liabilities
Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation. Provisions are charged as an expense to the Statement of Comprehensive Income in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Statement of Financial Position date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties. When payments are eventually made, they are charged to the provision carried in the Statement of Financial Position.

3. Employees and directors

The average number of employees during the year was 11 (2023 - 4 ) .

4. Intangible fixed assets
Goodwill
£
Cost
Additions 1,300,000
At 31 December 2024 1,300,000
Amortisation
Amortisation for year 130,000
At 31 December 2024 130,000
Net book value
At 31 December 2024 1,170,000

ALM Financial Ltd (Registered number: NI701108)

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


5. Property, plant and equipment
Fixtures
and Computer
fittings equipment Totals
£ £ £
Cost
Additions 539 179 718
At 31 December 2024 539 179 718
Depreciation
Charge for year 50 18 68
At 31 December 2024 50 18 68
Net book value
At 31 December 2024 489 161 650

6. Receivables: amounts falling due within one year
2024 2023
£ £
Trade receivables 41,820 -

7. Cash at bank and in hand
2024 2023
£ £
Cash at bank 130,861 265
Cash in hand 168 135
131,029 400

8. Payables: amounts falling due within one year
2024 2023
£ £
Trade payables (1 ) -
Taxation and social security 110,455 -
Other payables 164,331 -
274,785 -

9. Payables: amounts falling due after more than one year
2024 2023
£ £
Other payables 1,021,926 -

Amounts falling due in more than five years:

Repayable by instalments
Other loans - more than 5 years 438,378 -

10. Provisions for liabilities
2024 2023
£ £
Deferred tax 163 -

ALM Financial Ltd (Registered number: NI701108)

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


10. Provisions for liabilities - continued

Deferred tax
£
Charge to Statement of income and retained earnings during year 163
Balance at 31 December 2024 163

11. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
100 A Ordinary Shares 1 100 100
100 B Ordinary Shares 1 100 100
100 C Ordinary Shares 1 100 100
100 D Ordinary Shares 1 100 100
400 400

12. Directors' advances, credits and guarantees

The following loans to the company from directors subsisted during the year ended 31 December 2024 and the period ended 31 December 2023:

2024 2023
£ £
Mr S P Andrews
Balance outstanding at start of year - -
Amounts advanced 4,941 -
Amounts repaid (1,000 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 3,941 -

Mr L T Best
Balance outstanding at start of year - -
Amounts advanced 4,797 -
Amounts repaid (1,024 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 3,773 -

Mrs C Nicholl
Balance outstanding at start of year - -
Amounts advanced 3,295 -
Amounts repaid (1,000 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 2,295 -

ALM Financial Ltd (Registered number: NI701108)

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


12. Directors' advances, credits and guarantees - continued

Mrs C M M Strain-McDonnell
Balance outstanding at start of year - -
Amounts advanced 5,565 -
Amounts repaid (1,000 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 4,565 -