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REGISTERED NUMBER: SC643292 (Scotland)













Unaudited Financial Statements

for the Year Ended 31 October 2024

for

ADVANCED ASSET HOLDINGS LTD

ADVANCED ASSET HOLDINGS LTD (REGISTERED NUMBER: SC643292)






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




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


ADVANCED ASSET HOLDINGS LTD

Company Information
for the Year Ended 31 October 2024







DIRECTORS: G W Cattanach
Mrs G Cattanach





REGISTERED OFFICE: Suite 411 Baltic Chambers
50 Wellington Street
Glasgow
G2 6HJ





REGISTERED NUMBER: SC643292 (Scotland)





ACCOUNTANTS: SD Business Management
Suite 411 Baltic Chambers
50 Wellington Street
Glasgow
Strathclyde
G2 6HJ

ADVANCED ASSET HOLDINGS LTD (REGISTERED NUMBER: SC643292)

Abridged Balance Sheet
31 October 2024

31.10.24 31.10.23
Notes £    £    £    £   
FIXED ASSETS
Investments 4 302,770 623,979
Investment property 5 471,919 702,294
774,689 1,326,273

CURRENT ASSETS
Debtors 12,257 11,237
Cash at bank 416,807 507,222
429,064 518,459
CREDITORS
Amounts falling due within one year 500,297 1,214,284
NET CURRENT LIABILITIES (71,233 ) (695,825 )
TOTAL ASSETS LESS CURRENT LIABILITIES 703,456 630,448

CREDITORS
Amounts falling due after more than one
year

586,690

586,690
NET ASSETS 116,766 43,758

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 116,666 43,658
116,766 43,758

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.

ADVANCED ASSET HOLDINGS LTD (REGISTERED NUMBER: SC643292)

Abridged Balance Sheet - continued
31 October 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 October 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 12 March 2025 and were signed on its behalf by:




G W Cattanach - Director



Mrs G Cattanach - Director


ADVANCED ASSET HOLDINGS LTD (REGISTERED NUMBER: SC643292)

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

1. STATUTORY INFORMATION

Advanced Asset Holdings 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 as modified by the revaluation of certain assets.

In accordance with their responsibilities as directors, the directors have considered the appropriateness of the going concern basis for the preparation of the financial statements.

The company meets its day to day working capital requirements through support from the directors. The directors believe that they will continue to support the company as they have done in the past.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 2 (2023 - 2 ) .

ADVANCED ASSET HOLDINGS LTD (REGISTERED NUMBER: SC643292)

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

4. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
£   
COST OR VALUATION
At 1 November 2023 623,979
Additions 91,296
Disposals (471,878 )
Revaluations 59,373
At 31 October 2024 302,770
NET BOOK VALUE
At 31 October 2024 302,770
At 31 October 2023 623,979

Cost or valuation at 31 October 2024 is represented by:
Totals
£   
Valuation in 2022 (4,070 )
Valuation in 2023 25,021
Valuation in 2024 59,373
Cost 222,446
302,770

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 November 2023 702,294
Disposals (220,157 )
Revaluations (10,218 )
At 31 October 2024 471,919
NET BOOK VALUE
At 31 October 2024 471,919
At 31 October 2023 702,294

Fair value at 31 October 2024 is represented by:
£   
Valuation in 2024 (10,218 )
Cost 482,137
471,919