ALM Venture Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: SC507647 (Scotland)

Abridged Unaudited Financial Statements

for the Year Ended 30 April 2020

for

ALM Venture Limited

Page

Company Information

1

Abridged Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

Mrs A L McDonald

K McDonald

REGISTERED OFFICE:

14 Rutland Square

Edinburgh

EH1 2BD

REGISTERED NUMBER:

SC507647 (Scotland)

ACCOUNTANTS:

Gibson McKerrell Brown LLP

Chartered Accountants

14 Rutland Square

Edinburgh

Midlothian

EH1 2BD

BANKERS:

Bank of Scotland plc

Princes Exchange

3 Earl Grey Street

Edinburgh

EH3 9BN

FIXED ASSETS

Investments

4

8,353

21,670

CURRENT ASSETS

Debtors

60,000

195,000

Cash at bank

190,577

8,110

250,577

203,110

CREDITORS

Amounts falling due within one year

9,190

4,345

NET CURRENT ASSETS

241,387

198,765

TOTAL ASSETS LESS CURRENT LIABILITIES

249,740

220,435

CAPITAL AND RESERVES

Called up share capital

5

52

52

Retained earnings

249,688

220,383

SHAREHOLDERS' FUNDS

249,740

220,435

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2020 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Statement of Financial Position for the year ended 30 April 2020 in accordance with Section 444(2A) of the Companies Act 2006.

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 18 June 2020 and were signed on its behalf by:

K McDonald - Director

1.	STATUTORY INFORMATION

ALM Venture 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and

liabilities like trade and other debtors and payables, loans from banks and other third parties.

At the end of each reporting period, financial assets that are measured at cost are assessed for objective evidence of

impairment. If objective evidence of impairment is found, an impairment loss is recognised in the . Income Statement. If

there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised the

impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount

would have been had the impairment not previously been recognised. The impairment reversal is recognised in the Income

Statement.

Financial assets are derecognised when (a) the contractual rights to the cash flows arising from the asset expire or are

settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party, or (c)

control of the asset has been transferred to another party.

Financial liabilities are measured at amortised cost less any accumulated impairment losses. Financial liabilities are

derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of

financial position 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.

Fixed asset investments

Fixed asset investments are included in the company's statement of financial position at cost less any amounts written off

for permanent diminution in value.

At the end of each reporting period, investments are assessed for objective evidence of impairment. If objective evidence is

found, an impairment loss is recognised in the Income Statement.

On disposal of an investment, the difference between the disposal proceeds and the carrying amount of the investment is

recognised in the Income Statement.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2019 - NIL).

4.	FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:

Totals

£

COST

At 1 May 2019

21,670

Disposals

(16,011

)

Share of profit/(loss)

2,694

At 30 April 2020

8,353

NET BOOK VALUE

At 30 April 2020

8,353

At 30 April 2019

21,670

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2020

2019

value:

£

£

26

Ordinary A

£1

26

26

26

Ordinary B

£1

26

26

52

52

6.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The Directors loan to the company of £809 (2019 £809) is interest free, unsecured and is repayable on demand.

7.	RELATED PARTY DISCLOSURES

Included in other debtors is a loan of £60,000 (2019 £45,000) to ALM Properties Limited, a company controlled by Mr &

Mrs K McDonald. This loan is unsecured, interest free and is repayable on demand.