| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 30 April 2025 |
| for |
| ALM Properties Limited |
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 30 April 2025 |
| for |
| ALM Properties Limited |
| ALM Properties Limited (Registered number: SC211200) |
| Contents of the Financial Statements |
| for the Year Ended 30 April 2025 |
| Page |
| Company Information | 1 |
| Statement of Financial Position | 2 |
| Notes to the Financial Statements | 3 |
| ALM Properties Limited |
| Company Information |
| for the Year Ended 30 April 2025 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 28 Rutland Square |
| Edinburgh |
| EH1 2BW |
| BANKERS: |
| 300 Lawnmarket |
| Edinburgh |
| EH1 2PH |
| SOLICITORS: |
| 16 Charlotte Square |
| Edinburgh |
| EH2 4DF |
| ALM Properties Limited (Registered number: SC211200) |
| Statement of Financial Position |
| 30 April 2025 |
| 2025 | 2024 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investments | 5 |
| Investment property | 6 |
| CURRENT ASSETS |
| Debtors | 7 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 8 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES | 9 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 10 |
| Retained earnings | 11 |
| 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 Properties Limited (Registered number: SC211200) |
| Notes to the Financial Statements |
| for the Year Ended 30 April 2025 |
| 1. | STATUTORY INFORMATION |
| ALM Properties Limited is a |
| 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 the provisions of Section 1A "Small Entities" of 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 as modified by the revaluation of certain assets. |
| Preparation of consolidated financial statements |
| The financial statements contain information about ALM Properties Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. |
| 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 is attributable to the company's principal activity of property management and rental. |
| Tangible fixed assets |
| Tangible fixed assets are initially measured at cost. Cost includes the original purchase price and costs directly attributable to bringing the asset to its present location and into its present condition. After initial recognition, the assets are measured at cost less any accumulated depreciation and any accumulated impairment losses. Freehold properties are subsequently measured at their revalued amount, being the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. |
| Depreciation is provided by equal instalments at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter. Land is not depreciated. |
| Land and buildings - nil |
| Fixtures & fittings - 20% on reducing balance basis |
| Depreciation and impairment losses are charged to the Income Statement within administrative expenses. |
| The assets' residual values and useful lives are reviewed, and adjusted, if appropriate, at the end of each reporting period. The effect of any change is accounted for prospectively. |
| Investments in subsidiaries |
| Investments in subsidiary undertakings are recognised at cost. |
| ALM Properties Limited (Registered number: SC211200) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 April 2025 |
| 2. | ACCOUNTING POLICIES - continued |
| Investment property |
| Investment properties are properties held to earn rentals and/or for capital appreciation. |
| Investment properties are initially measured at cost, including transaction costs. Subsequently, investment properties whose fair value can be measured reliably without undue cost or effort, on an on-going basis, are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in Income Statement in the period in which they arise. |
| Investment properties whose fair value cannot be measured reliably without undue cost or effort, on an on-going basis, are included in plant, property and equipment at cost less accumulated depreciation and accumulated impairment losses. |
| 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. |
| 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 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 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 or other future taxable profits. |
| Hire purchase and leasing commitments |
| Rentals under operating leases are charged to the Income Statement on a straight line basis over the period of the lease. |
| ALM Properties Limited (Registered number: SC211200) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 April 2025 |
| 2. | ACCOUNTING POLICIES - continued |
| 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 Income Statement in the period to which they relate. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Plant and |
| Land and | machinery |
| buildings | etc | Totals |
| £ | £ | £ |
| COST |
| At 1 May 2024 |
| Additions |
| At 30 April 2025 |
| DEPRECIATION |
| At 1 May 2024 |
| Charge for year |
| At 30 April 2025 |
| NET BOOK VALUE |
| At 30 April 2025 |
| At 30 April 2024 |
| 5. | FIXED ASSET INVESTMENTS |
| Shares in | Interest |
| group | in joint |
| undertakings | venture | Totals |
| £ | £ | £ |
| COST |
| At 1 May 2024 | 726,840 |
| Additions | 296 |
| Disposals | ( |
) | (8,352 | ) |
| Share of profit/(loss) | - | 35,124 | 35,124 |
| At 30 April 2025 | 753,908 |
| NET BOOK VALUE |
| At 30 April 2025 | 753,908 |
| At 30 April 2024 | 726,840 |
| 6. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 May 2024 |
| and 30 April 2025 |
| NET BOOK VALUE |
| At 30 April 2025 |
| At 30 April 2024 |
| ALM Properties Limited (Registered number: SC211200) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 April 2025 |
| 6. | INVESTMENT PROPERTY - continued |
| Fair value at 30 April 2025 is represented by: |
| £ |
| Valuation in 2019 | 427,410 |
| Cost | 2,916,280 |
| 3,343,690 |
| If investment property had not been revalued it would have been included at the following historical cost: |
| 2025 | 2024 |
| £ | £ |
| Cost | 2,916,280 | 2,916,280 |
| Investment property was valued on an open market basis on 30 April 2024 by the directors . |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Other debtors |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Taxation and social security |
| Other creditors |
| 9. | PROVISIONS FOR LIABILITIES |
| 2025 | 2024 |
| £ | £ |
| Deferred tax |
| Accelerated capital allowances |
| Deferred tax on revaluation | 55,543 | 55,543 |
| 57,727 | 58,127 |
| Deferred |
| tax |
| £ |
| Balance at 1 May 2024 |
| Utilised during year | ( |
) |
| Balance at 30 April 2025 |
| 10. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2025 | 2024 |
| value: | £ | £ |
| A Ordinary | £1 | 26 | 26 |
| B Ordinary | £1 | 26 | 26 |
| C Ordinary | £1 | 16 | 16 |
| D Ordinary | £1 | 16 | 16 |
| E Ordinary | £1 | 16 | 16 |
| 100 | 100 |
| ALM Properties Limited (Registered number: SC211200) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 April 2025 |
| 11. | RESERVES |
| Retained earnings are analysed as follows: |
| 2025 | 2024 |
| £ | £ |
| Distributable | 629,763 | 380,339 |
| Non-Distributable | 371,866 | 371,866 |
| Total | 1,001,629 | 752,205 |
| 12. | RELATED PARTY DISCLOSURES |
| During the year, total dividends of £102,700 (2024 - £82,700) were paid to the directors . |
| Included in other creditors is a director's loan of £3,045,393 (2024 : £2,944,896). This loan is unsecured, interest free and without specific terms for repayment. |
| During the year the loan of £289,984 due to ALM Venture Limited, a company under the control of Mr & Mrs K McDonald was written off. |