ALM Wholesale Limited

Contents
	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

1. Accounting Policies

1.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

1.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

1.3. Research and Development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research is recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight line basis over their expected useful economic lives which is 10 years.

If it is not possible to distinguish between the research phase and the development phase of an internal project the expenditure is treated as if it were all incurred in the research phase only.

1.4. Intangible Fixed Assets and Amortisation - Intellectual Property

Intellectual property assets are recognised at cost less accumulated amortisation and impairment losses. It is amortised to the profit and loss account on a straight line basis over its estimated economic life. Each purchase of intellectual property is assessed and valued independently of the rest of the class based on its use within the business. The current rates over which the intellectual property is amortised is either 10 or 5 years accordingly.

1.5. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Leasehold	3 years Straight Line
Plant & Machinery	25% Reducing Balance
Motor Vehicles	20% Reducing Balance
Computer Equipment	20% Reducing Balance

1.6. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.

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ALM Wholesale Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

1.7. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

1.8. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

2. Average Number of Employees

Average number of employees, including directors, during the year was: 8 (2025: 7)

3. Intangible Assets

	Development Costs	Intellectual Property	Total
	£	£	£
Cost
As at 1 April 2025	127,198	41,500	168,698
Additions	33,974	180,000	213,974

As at 31 March 2026	161,172	221,500	382,672

Amortisation
As at 1 April 2025	17,910	12,450	30,360
Provided during the period	16,120	40,150	56,270

As at 31 March 2026	34,030	52,600	86,630

Net Book Value
As at 31 March 2026	127,142	168,900	296,042

As at 1 April 2025	109,288	29,050	138,338

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ALM Wholesale Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

4. Tangible Assets

	Land & Property
	Leasehold	Plant & Machinery	Motor Vehicles	Computer Equipment	Total
	£	£	£	£	£
Cost
As at 1 April 2025	10,004	1,575	57,922	33,552	103,053
Additions	-	-	25,554	1,330	26,884

As at 31 March 2026	10,004	1,575	83,476	34,882	129,937

Depreciation
As at 1 April 2025	10,004	1,295	7,681	25,198	44,178
Provided during the period	-	70	12,792	2,946	15,808

As at 31 March 2026	10,004	1,365	20,473	28,144	59,986

Net Book Value
As at 31 March 2026	-	210	63,003	6,738	69,951

As at 1 April 2025	-	280	50,241	8,354	58,875

5. Stocks

	2026	2025 as restated
	£	£
Stock	33,327	63,680

6. Debtors

	2026	2025 as restated
	£	£
Due within one year
Trade debtors	26,388	20,177
Other debtors	5,492	70,456

	31,880	90,633

7. Creditors: Amounts Falling Due Within One Year

	2026	2025 as restated
	£	£
Net obligations under finance lease and hire purchase contracts	12,204	7,696
Trade creditors	93,470	93,810
Bank loans and overdrafts	18,533	15,670
Other creditors	2,410	2,305
Taxation and social security	6,266	5,185

	132,883	124,666

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ALM Wholesale Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

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

	2026	2025 as restated
	£	£
Net obligations under finance lease and hire purchase contracts	50,026	41,444
Bank loans	32,849	41,382

	82,875	82,826

9. Obligations Under Finance Leases and Hire Purchase

	2026	2025 as restated
	£	£
The maturity of these amounts is as follows:
Within one year	12,204	7,696
Between one and five years	50,026	41,444

	62,230	49,140

	62,230	49,140

10. Share Capital

	2026	2025 as restated
	£	£
Allotted, Called up and fully paid	1	1

11. Directors Advances, Credits and Guarantees

Included within debtors are the following loans to directors:

	As at 1 April 2025	Amounts advanced	Amounts repaid	Amounts written off	As at 31 March 2026
	£	£	£	£	£
Mr Samuel McNally	408	7,460	(6,799 )	-	1,069

The above loan is unsecured, interest free and repayable on demand.

The director has provided a personal guarantee for bank loans totalling £49,715 (2025: 45,385).

12. General Information

ALM Wholesale Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10673867 . The registered office is 13 Hollands Road, Haverhill, Suffolk, CB9 8PU.

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		2026		2025 as restated
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	3		296,042		138,338
Tangible Assets	4		69,951		58,875

			365,993		197,213
CURRENT ASSETS
Stocks	5	33,327		63,680
Debtors	6	31,880		90,633
Cash at bank and in hand		43,292		48,666

		108,499		202,979
Creditors: Amounts Falling Due Within One Year	7	(132,883 )		(124,666 )

NET CURRENT ASSETS (LIABILITIES)			(24,384 )		78,313

TOTAL ASSETS LESS CURRENT LIABILITIES			341,609		275,526

Creditors: Amounts Falling Due After More Than One Year	8		(82,875 )		(82,826 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(48,393 )		(31,169 )

NET ASSETS			210,341		161,531

CAPITAL AND RESERVES
Called up share capital	10		1		1
Profit and Loss Account			210,340		161,530

SHAREHOLDERS' FUNDS			210,341		161,531