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REGISTERED NUMBER: 03915247 (England and Wales)














Strategic Report,

Report of the Director and

Financial Statements

for the Year Ended 31 December 2024

for

ALBERT HILL COMMERCIALS LIMITED

ALBERT HILL COMMERCIALS LIMITED (REGISTERED NUMBER: 03915247)






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




Page

Company Information 1

Strategic Report 2

Report of the Director 3

Report of the Independent Auditors 4

Statement of Comprehensive Income 8

Balance Sheet 9

Statement of Changes in Equity 10

Cash Flow Statement 11

Notes to the Cash Flow Statement 12

Notes to the Financial Statements 13


ALBERT HILL COMMERCIALS LIMITED

Company Information
for the Year Ended 31 December 2024







DIRECTOR: P W Foster



REGISTERED OFFICE: 8 River View Industrial Estate
Dodsworth Street
Darlington
DL1 2UH



REGISTERED NUMBER: 03915247 (England and Wales)



SENIOR STATUTORY AUDITOR: L Harris BSc (Hons) FCCA



AUDITORS: Mitchell Gordon LLP
Accountants and Statutory Auditor
43 Coniscliffe Road
Darlington
Co. Durham
DL3 7EH

ALBERT HILL COMMERCIALS LIMITED (REGISTERED NUMBER: 03915247)

Strategic Report
for the Year Ended 31 December 2024

The director presents his strategic report for the year ended 31 December 2024.

REVIEW OF BUSINESS
The principal activity of the company is commercial vehicle modifications and sales to the UK market.

The market for new vehicles is still robust, despite more general tougher market conditions and we envisage that 2025 will continue in the same manor.

As anticipated, manufacturer lead times stabilised in the year and we were able to continue to supply vehicles to customers on a timely basis and to the specifications they desired.

In 2024 the business, as planned, continued to control and reduce it's stock levels through the selling of vehicles. The aim of the business within the first 6 months of 2025 is to have a core range of vehicles that can be modified or tailored to each customers specification.

The business will also be focusing on a small number of specialist vehicles to aid in widening the product range.

Key financial performance indicators during the year were as follows;

Unit 2024 2023
Turnover £'000's £20,900 £22,600
Gross margin % 9.1% 11.8%
Profit before tax £'000's £1,656 £2,360

PRINCIPAL RISKS AND UNCERTAINTIES
The business levelled out in 2024 following several years of growth and continues to be able to retain profits within the business thus ensuring that there is no requirement for 3rd party lending.

As lead times on vehicles has levelled out, the planning of future orders has become much more controlled and easier to forecast, thus taking any uncertainty out of the business as to being able to fulfil customers' expectations with vehicle orders and specifications.

The business expects to continue to generate positive cashflow throughout 2025 and this will ensure working capital requirements are met.

FUTURE DEVELOPMENTS
The company has continued to invest in the internal body fitting work and reduce the dependency on external suppliers. This ensures we have control of the anticipated workflow and can meet our customers demand and timescales as all vehicles are planned weeks in advance.

The workshop turns around approx. 4 bodies to vehicles per week and this has become an inhouse profit centre.
It is anticipated that the workshop will increase its workload and will take on other additional work for associated companies to ensure a continuous work supply throughout the year.

ON BEHALF OF THE BOARD:





P W Foster - Director


25 March 2025

ALBERT HILL COMMERCIALS LIMITED (REGISTERED NUMBER: 03915247)

Report of the Director
for the Year Ended 31 December 2024

The director presents his report with the financial statements of the company for the year ended 31 December 2024.

DIVIDENDS
No dividends will be distributed for the year ended 31 December 2024.

DIRECTOR
P W Foster held office during the whole of the period from 1 January 2024 to the date of this report.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES
The director is responsible for preparing the Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
The auditors, Mitchell Gordon LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





P W Foster - Director


25 March 2025

Report of the Independent Auditors to the Members of
Albert Hill Commercials Limited

Opinion
We have audited the financial statements of Albert Hill Commercials Limited (the 'company') for the year ended 31 December 2024 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.

Other information
The director is responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Director, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Director have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
Albert Hill Commercials Limited


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Director.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of director's remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of director
As explained more fully in the Statement of Director's Responsibilities set out on page three, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the director is responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
Albert Hill Commercials Limited


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:
- the engagement partner ensured that the engagement team collectively had the appropriate competence,
capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
- we identified the laws and regulations applicable to the company through discussions with directors and other
management, and from our commercial knowledge and experience of the sectors in which the company operates;
- we focused on specific laws and regulations which we considered may have a direct material effect on the
financial statements or the operations of the company, including the Companies Act 2006, taxation legislation,
data protection compliance, anti-bribery, employment, environmental and health and safety legislation;
- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of
management and inspecting legal correspondence; and
- identified laws and regulations were communicated within the audit team regularly and the team remained alert
to instances of non-compliance throughout the audit.
These procedures did not identify any potentially material actual or suspected non-compliance.

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge
of actual, suspected and alleged fraud;
- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and
regulations.

To address the risk of fraud through management bias and override of controls, we:
- performed analytical procedures to identify any unusual or unexpected relationships;
- reviewed material journal entries to identify unusual transactions or posting by unusual users;
- assessed whether judgements and assumptions made in determining the accounting estimates were indicative of
potential bias;
- investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
- agreeing financial statement disclosures to underlying supporting documentation;
- reading the minutes of meetings of those charged with governance;
- enquiring of management as to actual and potential litigation and claims;
- reviewing correspondence with HMRC and the company's legal advisors.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it.

In addition, as with any audit, there remains a higher risk of non-detection of fraud, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. Our audit procedures are designed to detect material misstatement. We are not responsible for preventing non-compliance of fraud and cannot be expected to detect non-compliance with all laws & regulations.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Report of the Independent Auditors to the Members of
Albert Hill Commercials Limited


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




L Harris BSc (Hons) FCCA (Senior Statutory Auditor)
for and on behalf of Mitchell Gordon LLP
Accountants and Statutory Auditor
43 Coniscliffe Road
Darlington
Co. Durham
DL3 7EH

25 March 2025

ALBERT HILL COMMERCIALS LIMITED (REGISTERED NUMBER: 03915247)

Statement of Comprehensive
Income
for the Year Ended 31 December 2024

31/12/24 31/12/23
Notes £    £   

TURNOVER 3 20,882,939 22,600,180

Cost of sales 18,981,028 19,940,504
GROSS PROFIT 1,901,911 2,659,676

Administrative expenses 317,934 386,887
1,583,977 2,272,789

Other operating income 99,600 84,000
OPERATING PROFIT 5 1,683,577 2,356,789

Interest receivable and similar income - 3,881
1,683,577 2,360,670

Interest payable and similar expenses 6 27,545 245
PROFIT BEFORE TAXATION 1,656,032 2,360,425

Tax on profit 7 439,483 565,495
PROFIT FOR THE FINANCIAL YEAR 1,216,549 1,794,930

OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

1,216,549

1,794,930

ALBERT HILL COMMERCIALS LIMITED (REGISTERED NUMBER: 03915247)

Balance Sheet
31 December 2024

31/12/24 31/12/23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 8 94,253 101,453
Investment property 9 1,311,213 1,522,794
1,405,466 1,624,247

CURRENT ASSETS
Stocks 10 18,421,571 23,265,839
Debtors 11 1,128,384 1,553,672
Cash at bank 1,725,173 262,178
21,275,128 25,081,689
CREDITORS
Amounts falling due within one year 12 7,263,665 12,504,331
NET CURRENT ASSETS 14,011,463 12,577,358
TOTAL ASSETS LESS CURRENT
LIABILITIES

15,416,929

14,201,605

PROVISIONS FOR LIABILITIES 13 39,767 40,992
NET ASSETS 15,377,162 14,160,613

CAPITAL AND RESERVES
Called up share capital 14 100 100
Retained earnings 15 15,377,062 14,160,513
SHAREHOLDERS' FUNDS 15,377,162 14,160,613

The financial statements were approved by the director and authorised for issue on 25 March 2025 and were signed by:





P W Foster - Director


ALBERT HILL COMMERCIALS LIMITED (REGISTERED NUMBER: 03915247)

Statement of Changes in Equity
for the Year Ended 31 December 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 January 2023 100 12,365,583 12,365,683

Changes in equity
Total comprehensive income - 1,794,930 1,794,930
Balance at 31 December 2023 100 14,160,513 14,160,613

Changes in equity
Total comprehensive income - 1,216,549 1,216,549
Balance at 31 December 2024 100 15,377,062 15,377,162

ALBERT HILL COMMERCIALS LIMITED (REGISTERED NUMBER: 03915247)

Cash Flow Statement
for the Year Ended 31 December 2024

31/12/24 31/12/23
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 2,937,910 (8,175,571 )
Interest paid (27,545 ) (245 )
Tax paid (775,123 ) (375,366 )
Net cash from operating activities 2,135,242 (8,551,182 )

Cash flows from investing activities
Purchase of tangible fixed assets (46,847 ) (64,751 )
Sale of tangible fixed assets 54,002 30,000
Sale of investment property 220,000 -
Interest received - 3,881
Net cash from investing activities 227,155 (30,870 )

Cash flows from financing activities
Amount introduced by directors - 6,905,098
Amount withdrawn by directors (1,147,347 ) (15,394 )
Balances with connected parties 247,945 4,000
Net cash from financing activities (899,402 ) 6,893,704

Increase/(decrease) in cash and cash equivalents 1,462,995 (1,688,348 )
Cash and cash equivalents at beginning of
year

2

262,178

1,950,526

Cash and cash equivalents at end of year 2 1,725,173 262,178

ALBERT HILL COMMERCIALS LIMITED (REGISTERED NUMBER: 03915247)

Notes to the Cash Flow Statement
for the Year Ended 31 December 2024

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS

31/12/24 31/12/23
£    £   
Profit before taxation 1,656,032 2,360,425
Depreciation charges 30,281 34,820
Profit on disposal of fixed assets (38,655 ) (8,903 )
Finance costs 27,545 245
Finance income - (3,881 )
1,675,203 2,382,706
Decrease/(increase) in stocks 4,844,268 (14,178,206 )
Decrease/(increase) in trade and other debtors 177,343 (78,129 )
(Decrease)/increase in trade and other creditors (3,758,904 ) 3,698,058
Cash generated from operations 2,937,910 (8,175,571 )

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 December 2024
31/12/24 1/1/24
£    £   
Cash and cash equivalents 1,725,173 262,178
Year ended 31 December 2023
31/12/23 1/1/23
£    £   
Cash and cash equivalents 262,178 1,950,526


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1/1/24 Cash flow At 31/12/24
£    £    £   
Net cash
Cash at bank 262,178 1,462,995 1,725,173
262,178 1,462,995 1,725,173
Total 262,178 1,462,995 1,725,173

ALBERT HILL COMMERCIALS LIMITED (REGISTERED NUMBER: 03915247)

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

1. STATUTORY INFORMATION

Albert Hill Commercials Limited 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

Critical accounting judgements and key sources of estimation uncertainty
In the application of the company's accounting policies, the directors are required to make judgements,
estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis.

Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

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

Turnover from the sale of vehicles is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. This is usually on dispatch of the goods.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Short leasehold - 10% on cost
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 15% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

Investment property
Investment property is shown at a fair value that the director feels is a reflection of the current market value. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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


ALBERT HILL COMMERCIALS LIMITED (REGISTERED NUMBER: 03915247)

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

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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. TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the company.

An analysis of turnover by geographical market is given below:

31/12/24 31/12/23
£    £   
United Kingdom 20,489,089 20,988,180
Europe - 860,000
South America 393,850 752,000
20,882,939 22,600,180

4. EMPLOYEES AND DIRECTORS
31/12/24 31/12/23
£    £   
Wages and salaries 302,587 220,061
Social security costs 28,114 16,987
Other pension costs 5,888 2,675
336,589 239,723

ALBERT HILL COMMERCIALS LIMITED (REGISTERED NUMBER: 03915247)

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

4. EMPLOYEES AND DIRECTORS - continued

The average number of employees during the year was as follows:
31/12/24 31/12/23

Director 1 1
Workshop 5 4
Drivers 2 2
Security 2 2
Administration 3 3
13 12

31/12/24 31/12/23
£    £   
Director's remuneration - -

5. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

31/12/24 31/12/23
£    £   
Depreciation - owned assets 30,281 34,820
Profit on disposal of fixed assets (38,655 ) (8,903 )
Auditors' remuneration 10,000 10,000

6. INTEREST PAYABLE AND SIMILAR EXPENSES
31/12/24 31/12/23
£    £   
Loan interest - 245
Corporation tax interest 27,545 -
27,545 245

7. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
31/12/24 31/12/23
£    £   
Current tax:
UK corporation tax 440,708 555,123

Deferred tax (1,225 ) 10,372
Tax on profit 439,483 565,495

ALBERT HILL COMMERCIALS LIMITED (REGISTERED NUMBER: 03915247)

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

7. TAXATION - continued

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

31/12/24 31/12/23
£    £   
Profit before tax 1,656,032 2,360,425
Profit multiplied by the standard rate of corporation tax in the UK of 25%
(2023 - 25%)

414,008

590,106

Effects of:
Expenses not deductible for tax purposes 27,579 11,034
Capital allowances in excess of depreciation (879 ) (11,190 )
Chargeable gains - 90
Change in tax rate - (34,917 )
Deferred tax accelerated capital allowances (1,225 ) 10,372
Total tax charge 439,483 565,495

8. TANGIBLE FIXED ASSETS
Freehold Short Plant and
property leasehold machinery
£    £    £   
COST
At 1 January 2024 500 60,000 145,423
Additions - - 8,000
Disposals - - (31,050 )
At 31 December 2024 500 60,000 122,373
DEPRECIATION
At 1 January 2024 212 60,000 90,474
Charge for year 10 - 15,029
Eliminated on disposal - - (29,704 )
At 31 December 2024 222 60,000 75,799
NET BOOK VALUE
At 31 December 2024 278 - 46,574
At 31 December 2023 288 - 54,949

ALBERT HILL COMMERCIALS LIMITED (REGISTERED NUMBER: 03915247)

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

8. TANGIBLE FIXED ASSETS - continued

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 January 2024 4,601 76,474 6,995 293,993
Additions - 37,516 1,331 46,847
Disposals - (33,469 ) - (64,519 )
At 31 December 2024 4,601 80,521 8,326 276,321
DEPRECIATION
At 1 January 2024 2,392 33,978 5,484 192,540
Charge for year 690 13,875 677 30,281
Eliminated on disposal - (11,049 ) - (40,753 )
At 31 December 2024 3,082 36,804 6,161 182,068
NET BOOK VALUE
At 31 December 2024 1,519 43,717 2,165 94,253
At 31 December 2023 2,209 42,496 1,511 101,453

9. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2024 1,522,794
Disposals (211,581 )
At 31 December 2024 1,311,213
NET BOOK VALUE
At 31 December 2024 1,311,213
At 31 December 2023 1,522,794

All investment property is included at cost, as the director feels this is a true reflection of the current market value.

10. STOCKS
31/12/24 31/12/23
£    £   
Stocks 15,366,764 20,211,032
Work-in-progress 3,054,807 3,054,807
18,421,571 23,265,839

ALBERT HILL COMMERCIALS LIMITED (REGISTERED NUMBER: 03915247)

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

11. DEBTORS
31/12/24 31/12/23
£    £   
Amounts falling due within one year:
Trade debtors 617,678 811,649
Bad debt provision (26,294 ) (97,797 )
Other debtors 66,000 313,945
VAT - 52,650
Prepayments - 2,225
657,384 1,082,672

Amounts falling due after more than one year:
Other debtors 471,000 471,000

Aggregate amounts 1,128,384 1,553,672

12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/24 31/12/23
£    £   
Trade creditors 373,042 2,404,570
Tax 220,708 555,123
Social security and other taxes 6,706 6,768
VAT 745,006 -
Other creditors 303,102 2,775,710
Director's current account 5,600,894 6,748,241
Accrued expenses 14,207 13,919
7,263,665 12,504,331

13. PROVISIONS FOR LIABILITIES
31/12/24 31/12/23
£    £   
Deferred tax 39,767 40,992

Deferred
tax
£   
Balance at 1 January 2024 40,992
Accelerated capital allowances (1,225 )
Balance at 31 December 2024 39,767

The amount of the net reversal of deferred tax expected to occur next year is £5,723 (2003 £5,994), relating to the reversal of existing timing differences on tangible fixed assets.

14. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31/12/24 31/12/23
value: £    £   
100 Ordinary £1 100 100

ALBERT HILL COMMERCIALS LIMITED (REGISTERED NUMBER: 03915247)

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

14. CALLED UP SHARE CAPITAL - continued

Ordinary shares have one vote per share and the right to participate in any distribution as recommended by the directors, on a pro-rata basis with regard to total number of shares in issue.

15. RESERVES
Retained
earnings
£   

At 1 January 2024 14,160,513
Profit for the year 1,216,549
At 31 December 2024 15,377,062

16. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2024 and 31 December 2023:

31/12/24 31/12/23
£    £   
P W Foster
Balance outstanding at start of year - 141,463
Amounts advanced - 15,394
Amounts repaid - (156,857 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

This balance was subject to interest at a rate of 2% per annum, with no terms for repayment being set. The interest was charged at the applicable rate when the amount was outstanding.

17. RELATED PARTY DISCLOSURES

Entities over which the entity has control, joint control or significant influence
31/12/24 31/12/23
£    £   
Sales 1,086 -
Purchases 119,679 104,134
Amount due from related party 41,000 112,000