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# ALTAIR CONSTRUCTION & DEVELOPMENT LIMITED

## Company Registration Number:
SC450961 (Scotland)

## Unaudited abridged accounts for the year ended 31 May 2025

## Period of accounts

## Start date: 01 June 2024

## End date: 31 May 2025

# ALTAIR CONSTRUCTION & DEVELOPMENT LIMITED

## Contents of the Financial Statements

for the Period Ended 31 May 2025

Balance sheet |
Notes |

# ALTAIR CONSTRUCTION & DEVELOPMENT LIMITED

## Balance sheet

As at 31 May 2025

| Notes | 2025 | 2024
--- | --- | --- | ---
|  | £ | £
Fixed assets
Intangible assets: | 3 | 199,046 | 223,996
Tangible assets: | 4 | 881,082 | 955,177
Total fixed assets: |  | 1,080,128 | 1,179,173
Current assets
Stocks: |  | 1,238,351 | 1,284,288
Debtors: |  | 788,299 | 613,441
Cash at bank and in hand: |  | 310 | 1,147
Total current assets: |  | 2,026,960 | 1,898,876
Creditors: amounts falling due within one year: | 5 | (1,111,717) | (1,044,178)
Net current assets (liabilities): |  | 915,243 | 854,698
Total assets less current liabilities: |  | 1,995,371 | 2,033,871
Creditors: amounts falling due after more than one year: | 6 | (234,481) | (301,543)
Provision for liabilities: |  | (171,217) | (155,693)
Total net assets (liabilities): |  | 1,589,673 | 1,576,635
Capital and reserves
Called up share capital: |  | 1,500,000 | 1,500,000
Profit and loss account: |  | 89,673 | 76,635
Shareholders funds: |  | 1,589,673 | 1,576,635

The notes form part of these financial statements

# ALTAIR CONSTRUCTION & DEVELOPMENT LIMITED

## Balance sheet statements

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

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The directors have chosen to not file a copy of the company’s profit & loss account.

This report was approved by the board of directors on 06 July 2026
and signed on behalf of the board by:

Name: Linda Cross
Status: Director

The notes form part of these financial statements

# ALTAIR CONSTRUCTION & DEVELOPMENT LIMITED

## Notes to the Financial Statements

for the Period Ended 31 May 2025

## 1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

## Turnover policy

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably. Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recoverable.

## Tangible fixed assets and depreciation policy

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: Freehold land and buildings - 2% straight line Plant and equipment - 10-20% straight line or reducing Balance Office equipment - 10-20% straight line Motor vehicles - 25% reducing balance The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

## Intangible fixed assets and amortisation policy

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life. For the purposes of impairment testing, goodwill is allocated to the cash-generating units expected to benefit from the acquisition. Cash-generating units to which goodwill has been allocated are tested for impairment at least annually, or more frequently when there is an indication that the unit may be impaired. If the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated first to reduce the carrying amount of any goodwill allocated to the unit and then to the other assets of the unit pro-rata on the basis of the carrying amount of each asset in the unit.

## Valuation and information policy

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Work in progress and finished goods include labour and attributable overheads. Stocks held for distribution at no or nominal consideration are measured at the lower of replacement cost and cost, adjusted where applicable for any loss of service potential. At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

## Other accounting policies

GOING CONCERN At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements. CASH AT BANK AND IN HAND Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. FINANCIAL INSTRUMENTS The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade debtors and creditors. These are measured at amortised cost and are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income. TAXATION The tax expense represents the sum of the tax currently payable and deferred tax. Current tax The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date. Deferred tax Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit. The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority. RETIREMENT BENEFITS The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations. The contributions are recognised as an expense in the Statement of comprehensive income when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the company in independently administered funds. LEASES Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases. Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to the profit and loss so as to produce a constant periodic rate of interest on the remaining balance of the liability. FOREIGN EXCHANGE Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

# ALTAIR CONSTRUCTION & DEVELOPMENT LIMITED

## Notes to the Financial Statements

for the Period Ended 31 May 2025

## 2. Employees

| 2025 | 2024
--- | --- | ---
Average number of employees during the period | 8 | 8

# ALTAIR CONSTRUCTION & DEVELOPMENT LIMITED

## Notes to the Financial Statements

for the Period Ended 31 May 2025

## 3. Intangible Assets

| Total
--- | ---
Cost | £
At 01 June 2024 | 498,996
At 31 May 2025 | 498,996
Amortisation |
At 01 June 2024 | 275,000
Charge for year | 24,950
At 31 May 2025 | 299,950
Net book value |
At 31 May 2025 | 199,046
At 31 May 2024 | 223,996

# ALTAIR CONSTRUCTION & DEVELOPMENT LIMITED

## Notes to the Financial Statements

for the Period Ended 31 May 2025

## 4. Tangible Assets

| Total
--- | ---
Cost | £
At 01 June 2024 | 1,956,621
Additions | 89,218
Disposals | (16,155)
At 31 May 2025 | 2,029,684
Depreciation |
At 01 June 2024 | 1,001,444
Charge for year | 162,249
On disposals | (15,091)
At 31 May 2025 | 1,148,602
Net book value |
At 31 May 2025 | 881,082
At 31 May 2024 | 955,177

# ALTAIR CONSTRUCTION & DEVELOPMENT LIMITED

## Notes to the Financial Statements

for the Period Ended 31 May 2025

## 5. Creditors: amounts falling due within one year note

Obligations under finance leases - £127,233 Other borrowings - £13,255 Trade creditors - £115,862 Corporation tax - £0 Other taxation and social security - £62,199 Other creditors - £782,168 Accruals and deferred income - £11,000

# ALTAIR CONSTRUCTION & DEVELOPMENT LIMITED

## Notes to the Financial Statements

for the Period Ended 31 May 2025

## 6. Creditors: amounts falling due after more than one year note

Obligations under finance leases - £234,481

# ALTAIR CONSTRUCTION & DEVELOPMENT LIMITED

## Notes to the Financial Statements

for the Period Ended 31 May 2025

## 7. Related party transactions

Name of the related party: |
Relationship: | Directors
Description of the Transaction: | During the year, the company made repayments to the directors of £1,196,886. Credits of £1,371,424 were received by the company, which resulted in a balance of £217,807 due by the company at the year end (2024 - £42,269). During the year, there was no movement on a loan to a company under common control. This has resulted in a balance due by the company including interest accrued of £556,048.
£
Balance at 01 June 2024 |  | 42,269
Balance at 31 May 2025 |  | 217,807