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REGISTERED NUMBER: SC688228 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

FUTURE FINANCE SCOTLAND LTD

FUTURE FINANCE SCOTLAND LTD (REGISTERED NUMBER: SC688228)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FUTURE FINANCE SCOTLAND LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTOR: C D Burt



REGISTERED OFFICE: 35 Queen's Haugh
Carnock
Dunfermline
Fife
KY12 9GQ



REGISTERED NUMBER: SC688228 (Scotland)



ACCOUNTANTS: MacDonald Morton Ltd
Chartered Accountants
67 March Road
Edinburgh
EH4 3SU



BANKERS: Starling Bank
3rd floor
2 Finsbury Avenue
London
EC2M 2PP

FUTURE FINANCE SCOTLAND LTD (REGISTERED NUMBER: SC688228)

BALANCE SHEET
29 FEBRUARY 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 32,964 41,283
Investments 5 8,943 1,619
41,907 42,902

CURRENT ASSETS
Debtors 6 1,574 12,954
Cash at bank 73,136 58,191
74,710 71,145
CREDITORS
Amounts falling due within one year 7 44,385 23,482
NET CURRENT ASSETS 30,325 47,663
TOTAL ASSETS LESS CURRENT
LIABILITIES

72,232

90,565

CREDITORS
Amounts falling due after more than one year 8 (16,582 ) (23,500 )

PROVISIONS FOR LIABILITIES (8,230 ) (10,321 )
NET ASSETS 47,420 56,744

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 47,320 56,644
47,420 56,744

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 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.

FUTURE FINANCE SCOTLAND LTD (REGISTERED NUMBER: SC688228)

BALANCE SHEET - continued
29 FEBRUARY 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 25 July 2024 and were signed by:





C D Burt - Director


FUTURE FINANCE SCOTLAND LTD (REGISTERED NUMBER: SC688228)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1. STATUTORY INFORMATION

Future Finance Scotland 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.

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 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.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Financial instruments
Financial sets and liabilities are recognised when the company becomes party to the contractual provisions of the financial instrument. The company holds the following basic financial instruments.

Financial assets
Cash and cash equivalents - comprise cash in hand and deposits held with banks.

Trade and other debtors - are initially measured at the undiscounted amounts receivable from a customer, which is normally the invoiced price. Trade and other debtors are assessed at the end of each reporting period for objective evidence of impairment. If such evidence is found an impairment loss is recognised.

Financial liabilities
Trade and other creditors - are initially measured at the transaction price, including any transaction costs, and are subsequently measured at amortised cost using the effective interest method. Amounts that are payable within one year are measure at the undiscounted amount expected to be payable. When a financial liability constitutes a financing transaction it is initially and subsequently measure at the present value of the future payments, discounted at a market rate of interest.

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.


FUTURE FINANCE SCOTLAND LTD (REGISTERED NUMBER: SC688228)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 March 2023 2,268 3,040 39,950 45,258
Additions - 2,001 - 2,001
At 29 February 2024 2,268 5,041 39,950 47,259
DEPRECIATION
At 1 March 2023 638 840 2,497 3,975
Charge for year 407 550 9,363 10,320
At 29 February 2024 1,045 1,390 11,860 14,295
NET BOOK VALUE
At 29 February 2024 1,223 3,651 28,090 32,964
At 28 February 2023 1,630 2,200 37,453 41,283

5. FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:
29.2.24 28.2.23
£    £   
Gold Bullion 8,943 1,619

FUTURE FINANCE SCOTLAND LTD (REGISTERED NUMBER: SC688228)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade debtors 1,251 11,991
Other debtors 323 963
1,574 12,954

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Hire purchase contracts 6,000 6,000
Taxation and social security 15,191 11,582
Other creditors 23,194 5,900
44,385 23,482

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
29.2.24 28.2.23
£    £   
Hire purchase contracts 16,582 23,500