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REGISTERED NUMBER: SC361044 (Scotland)














Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Assurance Ltd

Assurance Ltd (Registered number: SC361044)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Report of the Accountants 5

Assurance Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTOR: E Mckay





SECRETARY:





REGISTERED OFFICE: 1 South Caldeen Road
Coatbridge
Lanarkshire
ML5 4EG





REGISTERED NUMBER: SC361044 (Scotland)





ACCOUNTANTS: Gordon Ferguson & Co Ltd
76 Hamilton Road
Motherwell
Lanarkshire
ML1 3BY

Assurance Ltd (Registered number: SC361044)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,392 8,748

CURRENT ASSETS
Stocks 49,500 166,666
Debtors 5 228,923 106,121
Cash at bank 22,568 18,540
300,991 291,327
CREDITORS
Amounts falling due within one year 6 105,762 125,362
NET CURRENT ASSETS 195,229 165,965
TOTAL ASSETS LESS CURRENT
LIABILITIES

199,621

174,713

CREDITORS
Amounts falling due after more than one
year

7

22,408

32,356
NET ASSETS 177,213 142,357

CAPITAL AND RESERVES
Called up share capital 1,005 1,005
Retained earnings 176,208 141,352
SHAREHOLDERS' FUNDS 177,213 142,357

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.

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 23 September 2024 and were signed by:





E Mckay - Director


Assurance Ltd (Registered number: SC361044)

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

1. STATUTORY INFORMATION

Assurance 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
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 - 25% on cost

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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 ) .

Assurance Ltd (Registered number: SC361044)

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

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 April 2023 18,893
Disposals (1,998 )
At 31 March 2024 16,895
DEPRECIATION
At 1 April 2023 10,145
Charge for year 4,356
Eliminated on disposal (1,998 )
At 31 March 2024 12,503
NET BOOK VALUE
At 31 March 2024 4,392
At 31 March 2023 8,748

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 4,381 6,121
Other debtors 224,542 100,000
228,923 106,121

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 2,760 2,088
Taxation and social security 15,065 35,562
Other creditors 87,937 87,712
105,762 125,362

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.24 31.3.23
£    £   
Other creditors 22,408 32,356

Assurance Ltd

Report of the Accountants to the Director of
Assurance Ltd

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 March 2024 set out on pages two to six and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






Gordon Ferguson & Co Ltd
76 Hamilton Road
Motherwell
Lanarkshire
ML1 3BY


23 September 2024