Company Registration No. SC270607 (Scotland)
A1 Financial Solutions Ltd
Unaudited accounts
for the year ended 30 September 2021
A1 Financial Solutions Ltd
Unaudited accounts
Contents
A1 Financial Solutions Ltd
Company Information
for the year ended 30 September 2021
Directors
Paul Martin Waldron
Alistair Andrew Roberts Imrie
Secretary
Paul Martin Waldron
Company Number
SC270607 (Scotland)
Registered Office
103 Rose Street North Lane
Edinburgh
EH2 3DX
Scotland
Accountants
Allsquare (Edinburgh) Ltd
Federation House
222-224 Queensferry Road
Edinburgh
EH4 2BN
A1 Financial Solutions Ltd
Statement of financial position
as at 30 September 2021
Intangible assets
150,000
150,000
Tangible assets
2,617
5,202
Cash at bank and in hand
(6,292)
18,817
Creditors: amounts falling due within one year
(123,678)
(112,568)
Net current assets
19,304
55,523
Total assets less current liabilities
171,921
210,725
Creditors: amounts falling due after more than one year
(34,133)
(44,800)
Provisions for liabilities
Net assets
137,575
165,283
Called up share capital
100
100
Profit and loss account
137,475
165,183
Shareholders' funds
137,575
165,283
For the year ending 30 September 2021 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 directors acknowledge their 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 of Directors and authorised for issue on 27 June 2022 and were signed on its behalf by
Alistair Andrew Roberts Imrie
Director
Company Registration No. SC270607
A1 Financial Solutions Ltd
Notes to the Accounts
for the year ended 30 September 2021
A1 Financial Solutions Ltd is a private company, limited by shares, registered in Scotland, registration number SC270607. The registered office is 103 Rose Street North Lane, Edinburgh, EH2 3DX, Scotland.
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.
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 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.
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
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:
Computer equipment
20% straight line
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.
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.
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.
A1 Financial Solutions Ltd
Notes to the Accounts
for the year ended 30 September 2021
4
Intangible fixed assets
Goodwill
At 30 September 2021
150,000
At 30 September 2021
150,000
At 30 September 2020
150,000
5
Tangible fixed assets
Computer equipment
At 30 September 2021
18,228
At 30 September 2021
15,611
At 30 September 2021
2,617
At 30 September 2020
5,202
6
Debtors: amounts falling due within one year
2021
2020
Other debtors
149,274
149,274
7
Creditors: amounts falling due within one year
2021
2020
Bank loans and overdrafts
12,800
6,400
Taxes and social security
80,040
74,574
Other creditors
28,294
23,772
Loans from directors
1,669
6,947
A1 Financial Solutions Ltd
Notes to the Accounts
for the year ended 30 September 2021
8
Creditors: amounts falling due after more than one year
2021
2020
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
10
Transactions with related parties
Included in 'Loans from directors' is an amount of £1,358 (2020: £4,678) due by the company to the director, Paul Martin Waldron. Interest at a rate of 2.25% is charged when the outstanding balance due to the company exceeds £10,000. No interest is charged by the director to the company. The loan has no fixed terms for repayment.
Included in 'Loans from directors' is an amount of £311 (2020: £2,269) due by the company to the director, Alistair Andrew Roberts Imrie. Interest at a rate of 2.25% is charged when the outstanding balance due to the company exceeds £10,000. No interest is charged by the director to the company. The loan has no fixed terms for repayment.
11
Average number of employees
During the year the average number of employees was 3 (2020: 3).
