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)

 

 

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