ASSET FINANCE SCOTLAND LTD

Company Registration Number:
SC380262 (Scotland)

Unaudited abridged accounts for the year ended 31 July 2023

Period of accounts

Start date: 01 August 2022

End date: 31 July 2023

ASSET FINANCE SCOTLAND LTD

Contents of the Financial Statements

for the Period Ended 31 July 2023

Balance sheet
Notes

ASSET FINANCE SCOTLAND LTD

Balance sheet

As at 31 July 2023


Notes

2023

2022


£

£
Fixed assets
Investments: 3 74,557 76,052
Total fixed assets: 74,557 76,052
Current assets
Debtors: 4 930 152
Cash at bank and in hand: 37,838 85,062
Total current assets: 38,768 85,214
Creditors: amounts falling due within one year: 5 (1,043) (12,090)
Net current assets (liabilities): 37,725 73,124
Total assets less current liabilities: 112,282 149,176
Provision for liabilities: (2,766)
Total net assets (liabilities): 109,516 149,176
Capital and reserves
Called up share capital: 50 50
Revaluation reserve:6016,053
Profit and loss account: 109,466 133,073
Shareholders funds: 109,516 149,176

The notes form part of these financial statements

ASSET FINANCE SCOTLAND LTD

Balance sheet statements

For the year ending 31 July 2023 the company was entitled to exemption 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.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A).

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 & loss account.

This report was approved by the board of directors on 30 October 2023
and signed on behalf of the board by:

Name: Mr Mark Johnston
Status: Director

The notes form part of these financial statements

ASSET FINANCE SCOTLAND LTD

Notes to the Financial Statements

for the Period Ended 31 July 2023

1. Accounting policies

These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

Turnover policy

Turnover is recognised at the fair value of the consideration received or receivable for goods and servicesprovided in the normal course of business, and is shown net of VAT and other sales related taxes. The fairvalue of consideration takes into account trade discounts, settlement discounts and volume rebates.

ASSET FINANCE SCOTLAND LTD

Notes to the Financial Statements

for the Period Ended 31 July 2023

2. Employees

2023 2022
Average number of employees during the period 1 1

ASSET FINANCE SCOTLAND LTD

Notes to the Financial Statements

for the Period Ended 31 July 2023

3. Fixed investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost andsubsequently measured at cost less any accumulated impairment losses. The investments are assessed forimpairment at each reporting date and any impairment losses or reversals of impairment losses arerecognised immediately in profit or loss.A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operatingpolicies of the entity so as to obtain benefits from its activities.An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a longterminterest and where the company has significant influence. The company considers that it has significantinfluence where it has the power to participate in the financial and operating decisions of the associate.Entities in which the company has a long term interest and shares control under a contractual arrangementare classified as jointly controlled entities.

ASSET FINANCE SCOTLAND LTD

Notes to the Financial Statements

for the Period Ended 31 July 2023

4. Debtors

Amounts falling due within one yearCorporation tax recoverable £784 (2022: £NIL)Other debtors -£146 (2022: £152)

ASSET FINANCE SCOTLAND LTD

Notes to the Financial Statements

for the Period Ended 31 July 2023

5. Creditors: amounts falling due within one year note

Corporation tax recoverable - £784 (2022: £NIL)Other debtors - £146 (2022: £152)

ASSET FINANCE SCOTLAND LTD

Notes to the Financial Statements

for the Period Ended 31 July 2023

6. Revaluation reserve

2023
£
Balance at 01 August 2022 16,053
Surplus or deficit after revaluation (16,053)
Balance at 31 July 2023 0