Chartered Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Alfa Scozia Limited
for the Year Ended 31 July 2025

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Alfa Scozia Limited for the year ended 31 July 2025 as set out on pages 3 to 8 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants of Scotland, we are subject to its ethical and other professional requirements which are detailed at www.icas.com.

This report is made solely to the Board of Directors of Alfa Scozia Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Alfa Scozia Limited and state those matters that we have agreed to state to the Board of Directors of Alfa Scozia Limited, as a body, in this report in accordance with the requirements of The Institute of Chartered Accountants of Scotland as detailed at www.icas.com. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Alfa Scozia Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Alfa Scozia Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Alfa Scozia Limited. You consider that Alfa Scozia Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Alfa Scozia Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Mitchell Oswald Chartered Accountants
28 James Young Road
Bathgate
West Lothian
EH48 2UP

19 November 2025

Alfa Scozia Limited

(Registration number: 05521738)
Balance Sheet as at 31 July 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	5,332	4,058
Current assets
Stocks	5	6,000	17,500
Debtors	6	11,247	14,082
Cash at bank and in hand		19,131	4,289
		36,378	35,871
Creditors: Amounts falling due within one year	7	(32,827)	(29,516)
Net current assets		3,551	6,355
Total assets less current liabilities		8,883	10,413
Creditors: Amounts falling due after more than one year	7	-	(6,573)
Net assets		8,883	3,840
Capital and reserves
Called up share capital		1	1
Retained earnings		8,882	3,839
Shareholders' funds		8,883	3,840

For the financial year ending 31 July 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 19 November 2025
 

......................................... R Motherwell Company secretary and director

Alfa Scozia Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2025

1	General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
71-75 Shelton Street
Covent Garden
London
WC2H 9JQ

These financial statements were authorised for issue by the director on 19 November 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that, as disclosed in the accounting policies, certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:

The amount of revenue can be reliably measured;
goods and services have been delivered to the customer; and
collectability of the related receivables is fairly assured.

Alfa Scozia Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2025

Tax

Tax is recognised in the profit or loss of the company.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes.

Deferred tax is accounted for in respect of all material timing differences. Deferred tax is charged/(credited) to the profit and loss account.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Motor vehicles	25% on reducing balance
Fixtures and fittings	25% on reducing balance
Property improvements	4% on cost

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for goods provided and services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Alfa Scozia Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2025

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised at the transaction price.

Provisions

Provisions are set up only where it is possible that a present obligation exists as a result of an event prior to the balance sheet date and that a payment will be required in settlement that can be estimated reliably.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Classification

The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors, bank loans and director's loans to the company.

 Recognition and measurement

Trade debtors and trade creditors are measured at the undiscounted amounts receivable from a customer or payable to a supplier, which is normally the invoice price.

Loans received from a bank at a market rate of interest are recognised at the amount of cash received from the bank, less separately incurred transaction costs.

Director's loans to the company which are repayable on demand are measured at the undiscounted amount of the cash expected to be paid.

 Impairment

Trade debtors are assessed at the end of each reporting period for objective evidence of impairment. If such evidence is found, an impairment loss is recognised in profit or loss.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year was 1 (2024 - 1).

Alfa Scozia Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2025

4	Tangible assets

	Property improvements £	Furniture, fittings and equipment  £	Motor vehicles  £	Total £
Cost or valuation
At 1 August 2024	939	19,612	19,866	40,417
Additions	-	4,086	-	4,086
Disposals	(939)	(10,958)	-	(11,897)
At 31 July 2025	-	12,740	19,866	32,606
Depreciation
At 1 August 2024	228	17,103	19,028	36,359
Charge for the year	-	863	210	1,073
Eliminated on disposal	(228)	(9,930)	-	(10,158)
At 31 July 2025	-	8,036	19,238	27,274
Carrying amount
At 31 July 2025	-	4,704	628	5,332
At 31 July 2024	711	2,509	838	4,058

5

Stocks

	2025 £	2024 £
Other inventories	6,000	17,500

6

Debtors

Current	2025 £	2024 £
Trade debtors	9,135	11,970
Other debtors	2,112	2,112
	11,247	14,082

Alfa Scozia Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 July 2025

7

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	8	6,632	7,210
Trade creditors		1,707	652
Taxation and social security		22,688	19,854
Accruals and deferred income		1,800	1,800
		32,827	29,516

8	Loans and borrowings

Current loans and borrowings

	2025 £	2024 £
Bank borrowings	6,423	6,718
Other borrowings	209	492
	6,632	7,210

Bank borrowings

The bank loan is denominated in sterling with a nominal interest rate of 2.5%, and the final instalment is due on 31 July 2026. The carrying amount at year end is £6,423 (2024 - £13,291).

9	Related party transactions

Transactions with the director

2024	At 1 August 2023 £	Advances to director £	Repayments by director £	At 31 July 2024 £
R Motherwell
Interest free loan from director	194	(58,162)	58,460	492

2025	At 1 August 2024 £	Advances to director £	Repayments by director £	At 31 July 2025 £
R Motherwell
Interest free loan from director	492	(71,044)	70,761	209