Almet Doors Ltd.

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—7

2.1. Basis of Preparation of 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.

2.2. Turnover

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

2.3. Intangible Fixed Assets and Amortisation - Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2002, is being amortised evenly over its estimated useful life of ten years.

2.4. Intangible Fixed Assets and Amortisation - Other Intangible

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.

2.5. Tangible Fixed Assets and Depreciation

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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Freehold	2% on cost
Leasehold	5% on cost
Plant & Machinery	15% on reducing balance
Motor Vehicles	25% on reducing balance
Fixtures & Fittings	15% on reducing balance
Computer Equipment	15% on reducing balance

Tangible assets are initially recognised at cost which is the purchase price plus any directly attributable costs.

Subsequently tangible assets are measured at cost less accumulated depreciation and impairment losses.

2.6. Leasing and Hire Purchase Contracts

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

2.7. Stocks and Work in Progress

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

2.8. Financial Instruments

The company only has basic financial instruments.

Short term debtors 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.

Short term trade creditors 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.

2.9. 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 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.

2.10. Pensions

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.

2.11. Government Grant

Government grants of a revenue nature received or receivable are credited to the profit and loss account as they fall due. Government grants of a capital nature are treated as deferred credits and credited to profit and loss account over the estimated life of the relevant fixed assets.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 45 (2024: 46)

4. Intangible Assets

	Goodwill
	£
Cost
As at 1 April 2024	90,000

As at 5 April 2025	90,000

Amortisation
As at 1 April 2024	90,000

As at 5 April 2025	90,000

Net Book Value
As at 5 April 2025	-

As at 1 April 2024	-

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Almet Doors Ltd.

Notes to the Financial Statements (continued)

For The Year Ended 5 April 2025

5. Tangible Assets

	Land & Property
	Freehold	Leasehold	Plant & Machinery	Motor Vehicles
	£	£	£	£
Cost
As at 1 April 2024	368,652	154,096	217,353	1,124,188
Additions	-	43,280	1,870	436,865
Disposals	-	-	-	(138,336 )

As at 5 April 2025	368,652	197,376	219,223	1,422,717

Depreciation
As at 1 April 2024	95,220	81,554	118,612	592,178
Provided during the period	7,373	6,499	14,975	180,650
Disposals	-	-	-	(24,608 )

As at 5 April 2025	102,593	88,053	133,587	748,220

Net Book Value
As at 5 April 2025	266,059	109,323	85,636	674,497

As at 1 April 2024	273,432	72,542	98,741	532,010


	Fixtures & Fittings	Computer Equipment	Total
	£	£	£
Cost
As at 1 April 2024	66,480	109,852	2,040,621
Additions	-	4,165	486,180
Disposals	-	-	(138,336 )

As at 5 April 2025	66,480	114,017	2,388,465

Depreciation
As at 1 April 2024	45,471	77,654	1,010,689
Provided during the period	4,202	7,053	220,752
Disposals	-	-	(24,608 )

As at 5 April 2025	49,673	84,707	1,206,833

Net Book Value
As at 5 April 2025	16,807	29,310	1,181,632

As at 1 April 2024	21,009	32,198	1,029,932

Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:

	2025	2024
	£	£
Motor Vehicles	125,893	110,588

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Almet Doors Ltd.

Notes to the Financial Statements (continued)

For The Year Ended 5 April 2025

6. Stocks

	2025	2024
	£	£
Stock	82,746	212,648

7. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	798,619	638,305
Prepayments and accrued income	306,641	363,801
Other debtors	468,550	480,549
Sundry debtors	4,405	7,504

	1,578,215	1,490,159
Due after more than one year
Corporation tax recoverable assets	3,241	3,241

	1,581,456	1,493,400

8. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	52,250	31,156
Trade creditors	657,849	657,603
Bank loans and overdrafts	-	513
Corporation tax	170,267	124,314
Other taxes and social security	98,907	83,095
VAT	13,727	13,286
Other creditors	3,770	13,326
Accruals and deferred income	100,409	17,366
Directors' loan accounts	334	515

	1,097,513	941,174

9. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	44,193	68,580

10. Obligations Under Finance Leases and Hire Purchase

	2025	2024
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	52,250	31,156
Later than one year and not later than five years	44,193	68,580

	96,443	99,736

	96,443	99,736

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Almet Doors Ltd.

Notes to the Financial Statements (continued)

For The Year Ended 5 April 2025

11. Deferred Taxation

The provision for deferred tax is made up as follows:

	2025	2024
	£	£
Accelerated capital allowances	165,689	158,701

12. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	180,000	180,000

13. Other Commitments

The total of future minimum lease payments under non-cancellable operating leases are as following:

	2025	2024
	£	£
Not later than one year	30,893	-
Later than one year and not later than five years	26,519	76,564

	57,412	76,564

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		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	5		1,181,632		1,029,932

			1,181,632		1,029,932
CURRENT ASSETS
Stocks	6	82,746		212,648
Debtors	7	1,581,456		1,493,400
Cash at bank and in hand		2,741,007		2,393,527

		4,405,209		4,099,575
Creditors: Amounts Falling Due Within One Year	8	(1,097,513 )		(941,174 )

NET CURRENT ASSETS (LIABILITIES)			3,307,696		3,158,401

TOTAL ASSETS LESS CURRENT LIABILITIES			4,489,328		4,188,333

Creditors: Amounts Falling Due After More Than One Year	9		(44,193 )		(68,580 )

PROVISIONS FOR LIABILITIES
Deferred Taxation	11		(165,689 )		(158,701 )

NET ASSETS			4,279,446		3,961,052

CAPITAL AND RESERVES
Called up share capital	12		180,000		180,000
Profit and Loss Account			4,099,446		3,781,052

SHAREHOLDERS' FUNDS			4,279,446		3,961,052