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REGISTERED NUMBER: SC274682 (Scotland)




















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

ALBAMILL NEWMAINS LIMITED
ALBAMILL NEWMAINS LIMITED (REGISTERED NUMBER: SC274682)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


ALBAMILL NEWMAINS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTORS: Mr James Nisbet
Mr Oliver James Nisbet





SECRETARY:





REGISTERED OFFICE: 18A Biggar Road
Cleland
Motherwell
Lanarkshire
ML1 5PB





REGISTERED NUMBER: SC274682 (Scotland)





ACCOUNTANTS: Feely & Company, Chartered Accountants
165 Main Street
Wishaw
Lanarkshire
ML2 7AU
Page 1
ALBAMILL NEWMAINS LIMITED (REGISTERED NUMBER: SC274682)

BALANCE SHEET
31 DECEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 415,378 405,018

CURRENT ASSETS
Stocks 303,369 348,492
Debtors 5 119,500 -
Cash at bank 8,388 7,315
431,257 355,807
CREDITORS
Amounts falling due within one year 6 362,977 437,717
NET CURRENT ASSETS/(LIABILITIES) 68,280 (81,910 )
TOTAL ASSETS LESS CURRENT LIABILITIES 483,658 323,108

CREDITORS
Amounts falling due after more than one year 7 476,360 313,000
NET ASSETS 7,298 10,108

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 7,198 10,008
SHAREHOLDERS' FUNDS 7,298 10,108

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 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 29 December 2025 and were signed on its behalf by:





Mr James Nisbet - Director


The notes form part of these financial statements

Page 2
ALBAMILL NEWMAINS LIMITED (REGISTERED NUMBER: SC274682)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1. STATUTORY INFORMATION

Albamill Newmains 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.

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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents income received from property rental and the provision of services.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance and 5% on reducing balance

Freehold property has not been depreciated. The existing buildings are being refurbished and extended and it is expected that the value on completion of all work will be substantially in excess of the historical costs. This will be supported by a valuation prepared by the appropriate professionals.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Basic financial instruments
Basic financial instruments, including short term trade and other debtors due to settled within one year, are accounted for at their transaction price.

Trade and other debtors are reviewed for impairment (e.g. bad debts) at the end of each accounting period.

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 but only in those instances where the amount is deemed to be significant.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - 2 ).

Page 3 continued...
ALBAMILL NEWMAINS LIMITED (REGISTERED NUMBER: SC274682)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2024 384,960 89,367 474,327
Additions 8,100 16,804 24,904
Disposals - (14,400 ) (14,400 )
At 31 December 2024 393,060 91,771 484,831
DEPRECIATION
At 1 January 2024 - 69,309 69,309
Charge for year - 2,244 2,244
Eliminated on disposal - (2,100 ) (2,100 )
At 31 December 2024 - 69,453 69,453
NET BOOK VALUE
At 31 December 2024 393,060 22,318 415,378
At 31 December 2023 384,960 20,058 405,018

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Advance Mortgage Interest 22,500 -
Other debtors 97,000 -
119,500 -

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 40,007 40,007
Taxation and social security 15,851 15,803
Other creditors 307,119 381,907
362,977 437,717

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Other creditors 476,360 313,000

Amounts falling due in more than five years:

Repayable by instalments
Mortgage 285,000 -

Page 4