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REGISTERED NUMBER: SC032890 (Scotland)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

The Georgian Finance Company Limited

The Georgian Finance Company Limited (Registered number: SC032890)






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


The Georgian Finance Company Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Alison Ada Harris
George Harris
Rebecca Harris





REGISTERED OFFICE: c/o Mrs Alison Harris
40 Gartcowes Crescent
Falkirk
FK1 5QH





REGISTERED NUMBER: SC032890 (Scotland)





ACCOUNTANTS: Stevenson & Kyles
Chartered Accountants
25 Sandyford Place
Glasgow
G3 7NG

The Georgian Finance Company Limited (Registered number: SC032890)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,250,960 1,286,288

CURRENT ASSETS
Cash at bank 369,963 345,195

CREDITORS
Amounts falling due within one year 5 970,095 1,020,672
NET CURRENT LIABILITIES (600,132 ) (675,477 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

650,828

610,811

PROVISIONS FOR LIABILITIES 6 739 624
NET ASSETS 650,089 610,187

CAPITAL AND RESERVES
Called up share capital 7 10,000 10,000
Retained earnings 8 640,089 600,187
SHAREHOLDERS' FUNDS 650,089 610,187

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 Georgian Finance Company Limited (Registered number: SC032890)

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 November 2024 and were signed on its behalf by:





Alison Ada Harris - Director


The Georgian Finance Company Limited (Registered number: SC032890)

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

1. STATUTORY INFORMATION

The Georgian Finance Company 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents rental income receivable.

Depreciation
The cost of tangible fixed assets is their cost, together with any incidental costs of acquisition.

Investment properties are included at fair value. Gains or losses on revaluations are recognised in the income statement.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Investment properties - not provided
Fittings and equipment - 10% on reducing balance

Financial instruments
Basic financial instruments, including debtors and creditors with no stated interest rate and receivable or payable within one year, are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in administrative expenses.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


The Georgian Finance Company Limited (Registered number: SC032890)

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

Grant income
Where applicable, grants from the government are recognised at their fair value where there is a reasonable assurance that the grant will be received and that the company will comply with all attached conditions. Where the grant income relates to a particular expense item, the grant income is recognised in the profit and loss account over the same period as the expense it is intended to compensate.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Fittings
Heritable and
property equipment Totals
£    £    £   
COST OR VALUATION
At 1 April 2023 1,283,005 8,423 1,291,428
Disposals (35,000 ) - (35,000 )
At 31 March 2024 1,248,005 8,423 1,256,428
DEPRECIATION
At 1 April 2023 - 5,140 5,140
Charge for year - 328 328
At 31 March 2024 - 5,468 5,468
NET BOOK VALUE
At 31 March 2024 1,248,005 2,955 1,250,960
At 31 March 2023 1,283,005 3,283 1,286,288

The Georgian Finance Company Limited (Registered number: SC032890)

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

4. TANGIBLE FIXED ASSETS - continued

Cost or valuation at 31 March 2024 is represented by:

Fittings
Heritable and
property equipment Totals
£    £    £   
Valuation in 2022 1,207,000 - 1,207,000
Cost 41,005 8,423 49,428
1,248,005 8,423 1,256,428

If investment properties had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 1,583,184 1,700,139

The market values of the investment properties have been arrived at on the basis of a valuation carried out on 31 March 2022 by the directors of the company who are not professionally qualified valuers. The valuation was arrived at by reference to market evidence of transaction prices for similar properties in their location and takes into account the state of the rental market in the areas where the properties are situated.

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 30,134 23,228
Other creditors 939,961 997,444
970,095 1,020,672

6. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 739 624

Deferred
tax
£   
Balance at 1 April 2023 624
Charge to Statement of Income and Retained Earnings during year 115
Balance at 31 March 2024 739

The Georgian Finance Company Limited (Registered number: SC032890)

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

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
10,000 Ordinary £1 10,000 10,000

8. RESERVES
Retained
earnings
£   

At 1 April 2023 600,187
Profit for the year 100,902
Dividends (61,000 )
At 31 March 2024 640,089

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mrs Alison Ada Harris.