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REGISTERED NUMBER: SC238338 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

AML ASSOCIATES FINANCIAL SERVICES LTD.

AML ASSOCIATES FINANCIAL SERVICES LTD. (REGISTERED NUMBER: SC238338)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


AML ASSOCIATES FINANCIAL SERVICES LTD.

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: L McLachlan





REGISTERED OFFICE: 2 Inglewood Crescent
East Kilbride
Glasgow
G75 8QD





REGISTERED NUMBER: SC238338 (Scotland)





ACCOUNTANT: John Murphy & Company (Scotland) Limited
Chartered Accountants
Castle Chambers
67 Main Street
Bothwell
Lanarkshire
G71 8ER

AML ASSOCIATES FINANCIAL SERVICES LTD. (REGISTERED NUMBER: SC238338)

BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1 1
Tangible assets 5 453 623
454 624

CURRENT ASSETS
Debtors 6 - 1,120
Cash at bank 58,326 48,354
58,326 49,474
CREDITORS
Amounts falling due within one year 7 20,007 16,760
NET CURRENT ASSETS 38,319 32,714
TOTAL ASSETS LESS CURRENT
LIABILITIES

38,773

33,338

PROVISIONS FOR LIABILITIES 8 86 118
NET ASSETS 38,687 33,220

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 38,587 33,120
SHAREHOLDERS' FUNDS 38,687 33,220

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

AML ASSOCIATES FINANCIAL SERVICES LTD. (REGISTERED NUMBER: SC238338)

BALANCE SHEET - continued
31 MARCH 2024


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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 15 April 2024 and were signed by:





L McLachlan - Director


AML ASSOCIATES FINANCIAL SERVICES LTD. (REGISTERED NUMBER: SC238338)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

AML Associates Financial Services Ltd. 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
The turnover shown in the profit and loss account represents commissions earned during the year.

In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts and contracts for on-going services is recognised by reference to the stage of completion.

Goodwill
Purchased goodwill arising on acquisitions is capitalised, classified as an asset on the balance sheet and amortised over its estimated useful life up to a maximum of 20 years. This length of time is presumed to be the maximum useful life of purchased goodwill because it is difficult to make projections beyond this period. Goodwill is reviewed for impairment at the end of the first full financial year following each acquisition and subsequently as and when necessary if circumstances emerge that indicate that the carrying value may not be recoverable.

Amortisation of goodwill is calculated so as to write off the cost of such assets, less their estimated residual value, over their useful economic life of 20 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.

Tangible fixed assets
All fixed assets are initially recorded at cost.

Depreciation

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Fixtures & Fittings - 25% reducing balance
Computer Equipment - 25% reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.


AML ASSOCIATES FINANCIAL SERVICES LTD. (REGISTERED NUMBER: SC238338)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 140,000
AMORTISATION
At 1 April 2023
and 31 March 2024 139,999
NET BOOK VALUE
At 31 March 2024 1
At 31 March 2023 1

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 April 2023
and 31 March 2024 459 220 679
DEPRECIATION
At 1 April 2023 10 46 56
Charge for year 115 55 170
At 31 March 2024 125 101 226
NET BOOK VALUE
At 31 March 2024 334 119 453
At 31 March 2023 449 174 623

AML ASSOCIATES FINANCIAL SERVICES LTD. (REGISTERED NUMBER: SC238338)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Prepayments - 1,120

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Corporation tax 17,614 15,161
Payroll taxation 119 116
Directors' current accounts 830 298
Accrued charges 1,444 1,185
20,007 16,760

8. PROVISIONS FOR LIABILITIES
31.3.24 31.3.23
£    £   
Deferred tax 86 118

Deferred
tax
£   
Balance at 1 April 2023 118
Provided during year (32 )
Balance at 31 March 2024 86

9. ULTIMATE CONTROLLING PARTY

The controlling party is L McLachlan.