A1 Financial Solutions Ltd

A1 Financial Solutions Ltd

A1 FINANCIAL SOLUTIONS LTD - Company Information

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A1 Financial Solutions Ltd

Registered Number
SC270607
(Scotland)

Unaudited Financial Statements for the Year ended
30 September 2022

A1 Financial Solutions Ltd
Company Information
for the year from 1 October 2021 to 30 September 2022

Directors

Alistair Andrew Roberts Imrie
Paul Martin Waldron

Registered Address

103 Rose Street North Lane
Edinburgh
EH2 3DX

Registered Number

SC270607 (Scotland)
A1 Financial Solutions Ltd
Balance Sheet as at
30 September 2022

Notes

2022

2021

£

£

£

£

Fixed assets
Intangible assets6150,000150,000
Tangible assets71,9552,617
151,955152,617
Current assets
Debtors9152,270151,619
Cash at bank and on hand4,4181,358
156,688152,977
Creditors amounts falling due within one year10(180,295)(133,673)
Net current assets (liabilities)(23,607)19,304
Total assets less current liabilities128,348171,921
Creditors amounts falling due after one year11(21,333)(34,133)
Provisions for liabilities12(112)(213)
Net assets106,903137,575
Capital and reserves
Called up share capital100100
Profit and loss account106,803137,475
Shareholders' funds106,903137,575
  • The company was entitled to exemption from audit for this reporting period 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 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 and loss account.
The financial statements were approved and authorised for issue by the Board of Directors on 26 June 2023, and are signed on its behalf by:
Paul Martin Waldron
Director
Registered Company No. SC270607
A1 Financial Solutions Ltd
Notes to the Financial Statements
for the year ended 30 September 2022

1.Statutory information
The company is a private company limited by shares and registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Basis of measurement used in financial statements
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
4.Accounting policies
Turnover policy
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.
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Office Equipment5
Intangible assets policy
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Taxation policy
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax policy
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Government grants and other government assistance policy
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.
Leases policy
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Employee benefits policy
Contributions to defined contribution plans are expensed in the period to which they relate.
5.Employee information

20222021
Average number of employees during the year23
6.Intangible assets

Goodwill

Total

££
Cost or valuation
At 01 October 21150,000150,000
At 30 September 22150,000150,000
Net book value
At 30 September 22150,000150,000
At 30 September 21150,000150,000
7.Property, plant and equipment

Office Equipment

Total

££
Cost or valuation
At 01 October 2118,22818,228
Additions176176
At 30 September 2218,40418,404
Depreciation and impairment
At 01 October 2115,61115,611
Charge for year838838
At 30 September 2216,44916,449
Net book value
At 30 September 221,9551,955
At 30 September 212,6172,617
8.Description of nature of transactions and balances with related parties
Included in 'Loans from directors' is an amount of £9,013 (2021: £1,358) due by the company to the director, Paul Martin Waldron. Interest at a rate of 2% 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 £179 (2021: £311) due by the company to the director, Alistair Andrew Roberts Imrie. Interest at a rate of 2% is charged when the outstanding balance due to the company exceeds £10,000. Nointerest is charged by the director to the company. The loan has no fixed terms for repayment.
9.Debtors

2022

2021

££
Other debtors152,270151,619
Total152,270151,619
10.Creditors within one year

2022

2021

££
Bank borrowings and overdrafts12,80012,800
Taxation and social security122,84482,273
Other creditors43,77737,724
Accrued liabilities and deferred income874876
Total180,295133,673
11.Creditors after one year

2022

2021

££
Bank borrowings and overdrafts21,33334,133
Total21,33334,133
12.Provisions for liabilities

2022

2021

££
Net deferred tax liability (asset)112213
Total112213