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REGISTERED NUMBER: SC370722 (Scotland)
















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Melrose Commercial Finance Limited

Melrose Commercial Finance Limited (Registered number: SC370722)






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


Melrose Commercial Finance Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mrs G A Melrose
A M Melrose





REGISTERED OFFICE: McLay McAlister & McGibbon LLP
Chartered Accountants
145 St Vincent Street
Glasgow
G2 5JF





REGISTERED NUMBER: SC370722 (Scotland)





ACCOUNTANTS: McLay McAlister & McGibbon LLP
Chartered Accountants
145 St Vincent Street
Glasgow
G2 5JF

Melrose Commercial Finance Limited (Registered number: SC370722)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 77,631 97,569

CURRENT ASSETS
Debtors 5 410,944 231,983
Investments 6 150,000 150,000
Cash at bank 1,093,707 1,169,289
1,654,651 1,551,272
CREDITORS
Amounts falling due within one year 7 (99,838 ) (103,516 )
NET CURRENT ASSETS 1,554,813 1,447,756
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,632,444

1,545,325

PROVISIONS FOR LIABILITIES (16,882 ) (16,459 )
NET ASSETS 1,615,562 1,528,866

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,615,462 1,528,766
SHAREHOLDERS' FUNDS 1,615,562 1,528,866

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 directors acknowledge their 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.

Melrose Commercial Finance Limited (Registered number: SC370722)

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 Board of Directors and authorised for issue on 10 October 2024 and were signed on its behalf by:





Mrs G A Melrose - Director


Melrose Commercial Finance Limited (Registered number: SC370722)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Melrose Commercial Finance 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
The turnover shown in the profit and loss account represents the value of all services delivered during the year at selling price, exclusive of Value Added Tax. Sales are recognised at the point at which the company has fulfilled its contractual obligations to the customer.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 15% on cost

The company's policy is to review the remaining useful lives and residual value of all tangible fixed assets on an on-going basis and to adjust the depreciation charge to reflect the remaining useful economic life and residual value.

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.

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 profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

Melrose Commercial Finance Limited (Registered number: SC370722)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 164,186
Additions 1,216
At 31 March 2024 165,402
DEPRECIATION
At 1 April 2023 66,617
Charge for year 21,154
At 31 March 2024 87,771
NET BOOK VALUE
At 31 March 2024 77,631
At 31 March 2023 97,569

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Other debtors 410,944 231,983

6. CURRENT ASSET INVESTMENTS
31.3.24 31.3.23
£    £   
Other 150,000 150,000

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 1,635 5,816
Taxation and social security 43,761 22,696
Other creditors 54,442 75,004
99,838 103,516

8. RELATED PARTY DISCLOSURES

Included in other debtors is a £201,302 (2023:£201,302) loan due from Skye View Limited, a company of which G Melrose is also a Director. No interest is being charged on the loan.

Included in other debtors is £209,641 (2023:£30,681) due by the directors. No interest is being charged on the loan which is scheduled to be repaid by 31 December 2024