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REGISTERED NUMBER: SC109448 (Scotland)















Unaudited Financial Statements for the Year Ended 31 October 2024

for

PROFESSIONAL FINANCIAL ADVISERS LIMITED

PROFESSIONAL FINANCIAL ADVISERS LIMITED (REGISTERED NUMBER: SC109448)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


PROFESSIONAL FINANCIAL ADVISERS LIMITED

Company Information
for the Year Ended 31 October 2024







DIRECTORS: D N M Craik
A J Harvie





REGISTERED OFFICE: 2 Bon Accord Square
Aberdeen
AB11 6DJ





REGISTERED NUMBER: SC109448 (Scotland)






PROFESSIONAL FINANCIAL ADVISERS LIMITED (REGISTERED NUMBER: SC109448)

Balance Sheet
31 October 2024

2024 2023
Notes £    £   
CURRENT ASSETS
Debtors 4 7,708 23,067
Cash at bank 80,054 106,346
87,762 129,413
CREDITORS
Amounts falling due within one year 5 5,598 9,439
NET CURRENT ASSETS 82,164 119,974
TOTAL ASSETS LESS CURRENT
LIABILITIES

82,164

119,974

CAPITAL AND RESERVES
Called up share capital 57,000 57,000
Share premium 1,680 1,680
Retained earnings 23,484 61,294
SHAREHOLDERS' FUNDS 82,164 119,974

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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 26 February 2025 and were signed on its behalf by:



D N M Craik - Director


PROFESSIONAL FINANCIAL ADVISERS LIMITED (REGISTERED NUMBER: SC109448)

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


1. STATUTORY INFORMATION

Professional Financial Advisers 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 represents net invoiced sales of services, excluding value added tax, except in respect of professional service contracts where turnover is recognised when the company obtains the right to consideration.

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.

3. EMPLOYEES AND DIRECTORS

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

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 7,700 17,720
Other debtors 8 5,347
7,708 23,067

PROFESSIONAL FINANCIAL ADVISERS LIMITED (REGISTERED NUMBER: SC109448)

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


5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 3,078 7,339
Other creditors 2,520 2,100
5,598 9,439

6. ULTIMATE CONTROLLING PARTY

The controlling party is Professional Financial Planners Limited.

The ultimate controlling party is the directors.