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REGISTERED NUMBER: SC411423 (Scotland)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Abercromby Project Finance Limited

Abercromby Project Finance Limited (Registered number: SC411423)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


Abercromby Project Finance Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mrs O M Benbow
J A Benbow





REGISTERED OFFICE: 25 Manor Place
Edinburgh
Midlothian
EH3 7DX





REGISTERED NUMBER: SC411423 (Scotland)





ACCOUNTANTS: One Accounting Ltd
Chartered Management Accountants
Drumsheugh Toll
2 Belford Road
Edinburgh
Midlothian
EH4 3BL

Abercromby Project Finance Limited (Registered number: SC411423)

Statement of Financial Position
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,634 4,050

CURRENT ASSETS
Debtors 5 174,884 186,343
Cash at bank 14 6,261
174,898 192,604
CREDITORS
Amounts falling due within one year 6 126,832 166,142
NET CURRENT ASSETS 48,066 26,462
TOTAL ASSETS LESS CURRENT
LIABILITIES

50,700

30,512

CREDITORS
Amounts falling due after more than one year 7 (47,443 ) (29,167 )

PROVISIONS FOR LIABILITIES (658 ) (1,012 )
NET ASSETS 2,599 333

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 2,597 331
2,599 333

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.

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 20 November 2024 and were signed on its behalf by:




J A Benbow - Director


Abercromby Project Finance Limited (Registered number: SC411423)

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

1. STATUTORY INFORMATION

Abercromby Project 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.

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 etc - 20% on cost

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 statement of financial position date.

Deferred tax
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 profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

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

Abercromby Project Finance Limited (Registered number: SC411423)

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
and 31 March 2024 10,909
DEPRECIATION
At 1 April 2023 6,859
Charge for year 1,416
At 31 March 2024 8,275
NET BOOK VALUE
At 31 March 2024 2,634
At 31 March 2023 4,050

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 31,711 21,359
Other debtors 143,173 164,984
174,884 186,343

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 21,848 10,000
Taxation and social security 90,760 152,200
Other creditors 14,224 3,942
126,832 166,142

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans 47,443 29,167

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2024 and 31 March 2023:

31.3.24 31.3.23
£    £   
J A Benbow and Mrs O M Benbow
Balance outstanding at start of year 74,126 72,196
Amounts advanced 282,157 334,985
Amounts repaid (313,915 ) (333,055 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 42,368 74,126

Abercromby Project Finance Limited (Registered number: SC411423)

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

9. RELATED PARTY DISCLOSURES

During the year, total dividends of £190,000 (2023 - £278,000) were paid to the directors .