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REGISTERED NUMBER: SC366555 (Scotland)











Unaudited Financial Statements for the Year Ended 31st March 2022

for

Border Finance Limited

Border Finance Limited (Registered number: SC366555)






Contents of the Financial Statements
for the Year Ended 31st March 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 5


Border Finance Limited

Company Information
for the Year Ended 31st March 2022







DIRECTORS: A Finnie
W J Welsh





REGISTERED OFFICE: High Lodge
Craigs Road
DUMFRIES
DG1 4EX





REGISTERED NUMBER: SC366555 (Scotland)





ACCOUNTANTS: Farries Kirk & McVean
Dumfries Enterprise Park
Heathhall
Dumfries
DUMFRIESSHIRE
DG1 3SJ

Border Finance Limited (Registered number: SC366555)

Balance Sheet
31st March 2022

2022 2021
Notes £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 315,317 298,977
315,317 298,977

CURRENT ASSETS
Debtors 6 251,655 257,939
Cash at bank 2,568,016 1,793,369
2,819,671 2,051,308
CREDITORS
Amounts falling due within one year 7 (262,682 ) (216,180 )
NET CURRENT ASSETS 2,556,989 1,835,128
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,872,306

2,134,105

PROVISIONS FOR LIABILITIES (15,385 ) (12,272 )
NET ASSETS 2,856,921 2,121,833

CAPITAL AND RESERVES
Called up share capital 175 175
Retained earnings 2,856,746 2,121,658
2,856,921 2,121,833

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2022 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.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25th August 2022 and were signed on its behalf by:





A Finnie - Director


Border Finance Limited (Registered number: SC366555)

Notes to the Financial Statements
for the Year Ended 31st March 2022

1. STATUTORY INFORMATION

Border Finance 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.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

The assets' residual values and useful lives are reviewed, and adjusted, if appropriate, at the end of each reporting period.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance and 15% on reducing balance

Amounts written off each asset over the estimated useful life represent cost less residual value.

The assets' residual values and useful lives are reviewed, and adjusted, if appropriate, at the end of each reporting period.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 balance sheet date.

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

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Border Finance Limited (Registered number: SC366555)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2022

2. ACCOUNTING POLICIES - continued

Financial instruments
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors
Trade debtors are amounts due from customers for the sale of goods and services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price and represent the full value of the goods and services charged to customers, including any amounts charged on for third parties.

Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date they are presented as non current liabilities.

Borrowings
Interest bearing borrowings are initially recorded at fair value, net of transaction costs. Interest bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transactions costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Provisions and contingencies
Provisions are recognised when the company has a present legal or constructive obligation as a result of past events; it is probable that an outflow of resources will be required to settle the obligation; and the amount of the obligation can be estimated reliably.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2021 - 11 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st April 2021
and 31st March 2022 115,400
AMORTISATION
At 1st April 2021
and 31st March 2022 115,400
NET BOOK VALUE
At 31st March 2022 -
At 31st March 2021 -

Border Finance Limited (Registered number: SC366555)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2022

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1st April 2021 189,886 161,837 351,723
Additions - 35,107 35,107
At 31st March 2022 189,886 196,944 386,830
DEPRECIATION
At 1st April 2021 - 52,746 52,746
Charge for year - 18,767 18,767
At 31st March 2022 - 71,513 71,513
NET BOOK VALUE
At 31st March 2022 189,886 125,431 315,317
At 31st March 2021 189,886 109,091 298,977

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 251,655 251,655
Other debtors - 6,284
251,655 257,939

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade creditors 1,608 3,054
Taxation and social security 257,474 209,526
Other creditors 3,600 3,600
262,682 216,180

8. RELATED PARTY DISCLOSURES

A loan has been made to Finnie Properties Limited, a company owned and controlled by Andrew Finnie, the controlling Director and shareholder of Border Finance Limited. This loan has been made to finance property developments and acquisitions and has been made on normal commercial terms. The balance outstanding at year end was £251,655.34.