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REGISTERED NUMBER: SC211200 (Scotland)

















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: Mrs A L McDonald
K McDonald



SECRETARY: DM Company Services Ltd



REGISTERED OFFICE: 16 Charlotte Square
Edinburgh
EH2 4DF



REGISTERED NUMBER: SC211200 (Scotland)



ACCOUNTANTS: Gibson McKerrell Burrows Limited
28 Rutland Square
Edinburgh
EH1 2BW



BANKERS: Bank of Scotland plc
300 Lawnmarket
Edinburgh
EH1 2PH



SOLICITORS: Dickson Minto W.S
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 69,743 41,556
Investments 5 753,908 726,840
Investment property 6 3,343,690 3,343,690
4,167,341 4,112,086

CURRENT ASSETS
Debtors 7 113 4,274
Cash at bank 28,370 26,021
28,483 30,295
CREDITORS
Amounts falling due within one year 8 3,136,368 3,331,949
NET CURRENT LIABILITIES (3,107,885 ) (3,301,654 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,059,456

810,432

PROVISIONS FOR LIABILITIES 9 57,727 58,127
NET ASSETS 1,001,729 752,305

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 11 1,001,629 752,205
SHAREHOLDERS' FUNDS 1,001,729 752,305

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2025 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 10 June 2025 and were signed on its behalf by:





K McDonald - Director


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 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.

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 2 (2024 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 May 2024 31,221 67,872 99,093
Additions 30,371 - 30,371
At 30 April 2025 61,592 67,872 129,464
DEPRECIATION
At 1 May 2024 - 57,537 57,537
Charge for year - 2,184 2,184
At 30 April 2025 - 59,721 59,721
NET BOOK VALUE
At 30 April 2025 61,592 8,151 69,743
At 30 April 2024 31,221 10,335 41,556

5. FIXED ASSET INVESTMENTS
Shares in Interest
group in joint
undertakings venture Totals
£    £    £   
COST
At 1 May 2024 1 726,839 726,840
Additions - 296 296
Disposals - (8,352 ) (8,352 )
Share of profit/(loss) - 35,124 35,124
At 30 April 2025 1 753,907 753,908
NET BOOK VALUE
At 30 April 2025 1 753,907 753,908
At 30 April 2024 1 726,839 726,840

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2024
and 30 April 2025 3,343,690
NET BOOK VALUE
At 30 April 2025 3,343,690
At 30 April 2024 3,343,690

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 113 4,274

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Taxation and social security 21,814 33,707
Other creditors 3,114,554 3,298,242
3,136,368 3,331,949

9. PROVISIONS FOR LIABILITIES
2025 2024
£    £   
Deferred tax
Accelerated capital allowances 2,184 2,584
Deferred tax on revaluation 55,543 55,543
57,727 58,127

Deferred
tax
£   
Balance at 1 May 2024 58,127
Utilised during year (400 )
Balance at 30 April 2025 57,727

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2025 2024
value: £    £   
26 A Ordinary £1 26 26
26 B Ordinary £1 26 26
16 C Ordinary £1 16 16
16 D Ordinary £1 16 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:

20252024
££
Distributable629,763380,339
Non-Distributable371,866371,866
Total1,001,629752,205

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.