Alba Bank Limited
Registered Number SC586124
Unaudited Financial Statements
For the period ended 28 February 2023
Period of Accounts:
Start Date:1 July 2022
End date: 28 February 2023
Alba Bank Limited
Unaudited Financial Statements
For period ended 28 February 2023
Contents
| Page(s) |
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Company Information | 3 |
Report of the Directors | 4 |
Statement of Financial Position | 5-6 |
Registered Number SC586124
Alba Bank Limited
Company Information
For period ended 28 February 2023
Directors
James McColl OBE
Rod Ashley
Alexander Cameron
Jeffrey Picton
Balaji Prasanna
Anne Weatherston
Robert Sharpe
Registered Office
Redwood House
5 Redwood Crescent
Peel Park
East Kilbride
G74 5PA
Registered Number
Registered in Scotland number SC586124
Company Incorporation Date
18 January 2018
Bankers
Royal Bank of Scotland
Website
www.albabank.co.uk
Registered Number SC586124
Alba Bank Limited
Director's Report
For period ended 28 February 2023
The directors present their report with the financial statements of the company for the period ended 28 February 2023.
Directors
The following Directors constitute the current Board of Directors as at 29 September 2023:
Roderick Ashley
James McColl OBE
Alexander Cameron (appointed 1 June 2023)
Jeffrey Picton (appointed 1 May 2023)
Balaji Prasanna (appointed 1 May 2023)
Anne Weatherston
Robert Sharpe (appointed 25 August 2023)
The following Directors held office during the financial statement period and have subsequently resigned:
Fraser McNeill (resigned 16 May 2023)
Graeme Jones (appointed 1 October 2022, resigned 28 April 2023)
John Fisher (resigned 18 May 2023)
This report was approved by the Board of Directors on 29 September 2023 and signed on 05 October 2023 on behalf of the Board by:
Rod Ashley
Chief Executive Officer
Registered Number SC586124
Alba Bank Limited
Statement of Financial Position
As at 28 February 2023
| 28 Feb 23 | 30 Jun 22 |
| £ | £ |
| | |
Fixed assets | 508,108 | 549,245 |
| | |
Current assets | 4,357,781 | 1,998,403 |
Prepayments and accrued income | 38,446 | 28,944 |
Creditors: amounts falling due within 1 year | (152,670) | (72,154) |
| | |
Net current assets | 4,243,557 | 1,955,193 |
| | |
Total assets less current liabilities | 4,751,665 | 2,504,438 |
Accruals and deferred income | (482,910) | (124,870) |
| | |
Total net assets | 4,268,755 | 2,379,568 |
| | |
| | |
| | |
Capital and reserves | 4,268,755 | 2,379,568 |
Approved by the Board on 29 September 2023 and signed on 05 October 2023 on its behalf by:
Rod Ashley
Chief Executive Officer
Registered Number SC586124
Alba Bank Limited
Statement of Financial Position continued
As at 28 February 2023
These accounts have been prepared and delivered in accordance with the provisions of the small companies regime applicable to micro-entities.
For the period to 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies and the members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
The company is a private company limited by shares. Its registered office is Redwood House, 5 Redwood Crescent, Peel Park, East Kilbride, G74 5PA.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The notes form part of the financial statements.
1. Employee Information
The average number of employees during the year was 7 (2022: 7).
2. Off balance sheet disclosure
There were no loans or guarantees to directors, no charges on assets and no capital commitments.
The company had the following contingent liabilities at 28 February 2023:
• | Alba Bank has received Research and Development grant funding from Scottish Enterprise relating to implementation of the banking platform. If the business were to cease and the planned launch of the Bank were not to go ahead this amount may become repayable. |
3. Post Balance Sheet Events
Subsequent to the year-end Alba Bank was authorised with restrictions by the PRA and FCA ; it is now in the mobilisation phase.
Registered Number SC586124
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