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REGISTERED NUMBER: SC239080 (Scotland)




















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023

FOR

PROSPERITY FINANCIAL SOLUTIONS LTD.

PROSPERITY FINANCIAL SOLUTIONS LTD. (REGISTERED NUMBER: SC239080)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 October 2023




Page

Balance Sheet 1

Notes to the Financial Statements 3


PROSPERITY FINANCIAL SOLUTIONS LTD. (REGISTERED NUMBER: SC239080)

BALANCE SHEET
31 October 2023

31.10.23 31.10.22
Notes £    £   
CURRENT ASSETS
Debtors 4 2,146,774 1,772,813
Cash at bank 1,394,546 1,797,655
3,541,320 3,570,468
CREDITORS
Amounts falling due within one year 5 299,553 301,916
NET CURRENT ASSETS 3,241,767 3,268,552
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,241,767

3,268,552

CAPITAL AND RESERVES
Called up share capital 150 150
Retained earnings 3,241,617 3,268,402
SHAREHOLDERS' FUNDS 3,241,767 3,268,552

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 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.

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.

PROSPERITY FINANCIAL SOLUTIONS LTD. (REGISTERED NUMBER: SC239080)

BALANCE SHEET - continued
31 October 2023



The financial statements were approved by the director and authorised for issue on 29 July 2024 and were signed by:





W McCracken - Director


PROSPERITY FINANCIAL SOLUTIONS LTD. (REGISTERED NUMBER: SC239080)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 October 2023

1. STATUTORY INFORMATION

Prosperity Financial Solutions Ltd. is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address are as below:

Registered number: SC239080

Registered office: 504 Dumbarton Road
Glasgow
G11 6SN

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 and revenue recognition
Turnover represents invoiced sales of goods and services. Revenue is recognised when goods and services are provided to the customer.

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.

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 NIL (2022 - 9 ).

PROSPERITY FINANCIAL SOLUTIONS LTD. (REGISTERED NUMBER: SC239080)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 October 2023

4. DEBTORS
31.10.23 31.10.22
£    £   
Amounts falling due within one year:
Deferred consideration due 195,000 180,000
Other debtors 3,925 23,813
Inter Co-Bianco Consulting Ltd 14,474 -
s455 Tax 159,375 -
Directors' current accounts 475,000 75,000
847,774 278,813

Amounts falling due after more than one year:
Deferred consideration due 195,000 390,000
Additional consideration due 1,104,000 1,104,000
1,299,000 1,494,000

Aggregate amounts 2,146,774 1,772,813

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Bank loans and overdrafts 18,901 24,730
Other loans - 32,087
Trade creditors 1,458 12,007
Tax 143,470 120,402
Social security and other taxes - 5,011
Other creditors 16,794 20,785
Accruals and deferred income 118,930 86,894
299,553 301,916

6. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 October 2023 and 31 October 2022:

31.10.23 31.10.22
£    £   
W McCracken
Balance outstanding at start of year 75,000 -
Amounts advanced 400,000 225,000
Amounts repaid - (150,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 475,000 75,000

7. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is W McCracken.