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REGISTERED NUMBER: SC152046 (Scotland)















Financial Statements For The Year Ended 31 October 2023

for

Fraser Spy Financial Services Limited

Fraser Spy Financial Services Limited (Registered number: SC152046)






Contents of the Financial Statements
For The Year Ended 31 October 2023




Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 4


Fraser Spy Financial Services Limited

Company Information
For The Year Ended 31 October 2023







DIRECTOR: G W Spy





REGISTERED OFFICE: 180 Hope Street
GLASGOW
G2 2UE





REGISTERED NUMBER: SC152046 (Scotland)





ACCOUNTANTS: Robb Ferguson Chartered Accountants
Regent Court
70 West Regent Street
Glasgow
G2 2QZ

Fraser Spy Financial Services Limited (Registered number: SC152046)

Abridged Statement of Financial Position
31 October 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 6,310 10,295
Investments 5 - -
6,310 10,295

CURRENT ASSETS
Debtors 297,947 251,731
Cash at bank and in hand 510,696 564,214
808,643 815,945
CREDITORS
Amounts falling due within one year 344,512 417,797
NET CURRENT ASSETS 464,131 398,148
TOTAL ASSETS LESS CURRENT
LIABILITIES

470,441

408,443

PROVISIONS FOR LIABILITIES 1,578 2,575
NET ASSETS 468,863 405,868

CAPITAL AND RESERVES
Called up share capital 50 50
Capital redemption reserve 50 50
Retained earnings 468,763 405,768
SHAREHOLDERS' FUNDS 468,863 405,868

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.

Fraser Spy Financial Services Limited (Registered number: SC152046)

Abridged Statement of Financial Position - continued
31 October 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Statement of Comprehensive Income and an abridged Statement of Financial Position for the year ended 31 October 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 July 2024 and were signed by:





G W Spy - Director


Fraser Spy Financial Services Limited (Registered number: SC152046)

Notes to the Financial Statements
For The Year Ended 31 October 2023

1. STATUTORY INFORMATION

Fraser Spy Financial Services Limited 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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
Turnover represents commission received and receivable from insurance companies in respect of contracts agreed prior to the balancing date.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 33.33% on cost and 25% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost less accumulated impairment.

Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in the statement of comprehensive income. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in the statement of comprehensive income.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the statement of comprehensive income, 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 statement of financial position date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to to the statement of comprehensive income in the period to which they relate.

Fraser Spy Financial Services Limited (Registered number: SC152046)

Notes to the Financial Statements - continued
For The Year Ended 31 October 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2022 - 14 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 November 2022 109,441
Additions 1,644
Disposals (786 )
At 31 October 2023 110,299
DEPRECIATION
At 1 November 2022 99,146
Charge for year 5,245
Eliminated on disposal (402 )
At 31 October 2023 103,989
NET BOOK VALUE
At 31 October 2023 6,310
At 31 October 2022 10,295

5. FIXED ASSET INVESTMENTS

The company's investments at the Statement of Financial Position date in the share capital of companies include the following:

Traquair Financial Services Limited
Registered office: C/O Fraser Spy Financial Services Ltd, 180 Hope St, Glasgow, Scotland, G2 2UE
Nature of business: Dormant company
%
Class of shares: holding
Ordinary 100.00

6. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 15,000 15,000

7. CONTINGENT LIABILITIES

The directors recognise that certain commissions received have been paid to the company on an indemnity basis. If these contracts were to be cancelled then there may be a clawback of commissions paid. Whilst it is not possible to predict the level of future cancellations, past experience and directors knowledge of the client base leads them to conclude that no provision is required in the financial statements for clawback of commissions.