Company Registration No. SC363948 (Scotland)
ALI & SONS HOLDING LIMITED
Unaudited accounts
for the year ended 30 June 2022
ALI & SONS HOLDING LIMITED
Unaudited accounts
Contents
ALI & SONS HOLDING LIMITED
Company Information
for the year ended 30 June 2022
Director
Mohamed Monwar Ali
Company Number
SC363948 (Scotland)
Registered Office
38 High Street
Lossiemouth
IV31 6AA
Accountants
A2Z Accounting Solutions Limited
26 Grandholm Grove
Aberdeen
AB22 8AX
ALI & SONS HOLDING LIMITED
Statement of financial position
as at 30 June 2022
Tangible assets
78,856
84,705
Investment property
3,705,000
3,705,000
Cash at bank and in hand
3,964
-
Creditors: amounts falling due within one year
(374,836)
(496,431)
Net current liabilities
(219,996)
(305,905)
Total assets less current liabilities
3,593,860
3,513,800
Creditors: amounts falling due after more than one year
(2,014,691)
(1,982,826)
Provisions for liabilities
Deferred tax
(11,684)
(11,684)
Other provisions
(93,568)
-
Net assets
1,473,917
1,519,290
ALI & SONS HOLDING LIMITED
Statement of financial position
as at 30 June 2022 (continued)
Called up share capital
250,000
250,000
Revaluation reserve
1,091,825
1,091,825
Profit and loss account
132,092
177,465
Shareholders' funds
1,473,917
1,519,290
For the year ending 30 June 2022 the company was entitled to exemption from audit 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 27 February 2022 and were signed on its behalf by
Mohamed Monwar Ali
Director
Company Registration No. SC363948
ALI & SONS HOLDING LIMITED
Notes to the Accounts
for the year ended 30 June 2022
ALI & SONS HOLDING LIMITED is a private company, limited by shares, registered in Scotland, registration number SC363948. The registered office is 38 High Street, Lossiemouth, IV31 6AA.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
15-20% reducing balance method
Motor vehicles
33% reducing balance method
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
ALI & SONS HOLDING LIMITED
Notes to the Accounts
for the year ended 30 June 2022
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Investments in shares are included at historic cost.
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At 1 July 2021
152,599
8,350
160,949
At 30 June 2022
155,470
8,350
163,820
At 1 July 2021
67,894
8,350
76,244
Charge for the year
8,720
-
8,720
At 30 June 2022
76,614
8,350
84,964
At 30 June 2022
78,856
-
78,856
At 30 June 2021
84,705
-
84,705
Fair value at 1 July 2021
3,705,000
Fair value is based upon independent valuations carried out by Chartered Surveyors in December 2018 and December 2019.
6
Investments
Subsidiary undertakings
Valuation at 1 July 2021
30,000
Valuation at 30 June 2022
30,000
Amounts falling due within one year
Trade debtors
141,741
130,526
Other debtors
9,135
60,000
ALI & SONS HOLDING LIMITED
Notes to the Accounts
for the year ended 30 June 2022
8
Creditors: amounts falling due within one year
2022
2021
Bank loans and overdrafts
-
2,926
Trade creditors
17,248
65,498
Amounts owed to group undertakings and other participating interests
53,330
155,094
Taxes and social security
37,150
42,146
Loans from directors
195,688
141,816
9
Creditors: amounts falling due after more than one year
2022
2021
Bank loans
1,940,880
1,968,980
Other creditors
33,394
13,846
10
Transactions with related parties
During the year, the Company has entered into related party transactions as follows.
The Company repaid amounts totalling £4,056 to the Director which reduced amounts outstanding to the Director to £51,354 as at the balance sheet date.
The Company borrowed from other associated companies a total amount of £258,058. This includes increases in interests payable on the net borrowing from each associated entity.
The Company has lent a total amount of £20,816 to other associated companies. This includes increases in interests receivable on the net amounts outstanding from each associated entity.
As at the balance sheet date, the total amounts outstanding from associated entities amounted to £294,333 and the total amounts owed to associated entities amounted to £270,647.
11
Average number of employees
During the year the average number of employees was 6 (2021: 6).
