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REGISTERED NUMBER: SC704565 (Scotland)














UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2024

FOR

ALBYN ASSOCIATES FINANCIAL SOLUTIONS LTD

ALBYN ASSOCIATES FINANCIAL SOLUTIONS LTD (REGISTERED NUMBER: SC704565)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 July 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Certified Accountants' Report 6

ALBYN ASSOCIATES FINANCIAL SOLUTIONS LTD

COMPANY INFORMATION
for the Year Ended 31 July 2024







DIRECTORS: Mr C L G Maclennan
Mr C R Thomson





REGISTERED OFFICE: 50a Chapel Street
Aberdeen
AB10 1SN





REGISTERED NUMBER: SC704565 (Scotland)





ACCOUNTANTS: Nuvo Scotland Limited
Bankhead Drive
City South Office Park
Portlethen
Aberdeenshire
AB12 4XX

ALBYN ASSOCIATES FINANCIAL SOLUTIONS LTD (REGISTERED NUMBER: SC704565)

BALANCE SHEET
31 July 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 193,333 -

CURRENT ASSETS
Debtors 6 210,094 -
Cash at bank 5,321 1
215,415 1
CREDITORS
Amounts falling due within one year 7 77,496 14
NET CURRENT ASSETS/(LIABILITIES) 137,919 (13 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

331,252

(13

)

CAPITAL AND RESERVES
Called up share capital 222,224 2
Share premium 108,872 -
Retained earnings 156 (15 )
SHAREHOLDERS' FUNDS 331,252 (13 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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 17 June 2025 and were signed on its behalf by:





Mr C L G Maclennan - Director


ALBYN ASSOCIATES FINANCIAL SOLUTIONS LTD (REGISTERED NUMBER: SC704565)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 July 2024

1. STATUTORY INFORMATION

Albyn Associates Financial Solutions 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.

Turnover
Turnover namely comprises commission, referrals and fees for services rendered. Turnover is measured at the fair value of consideration received or receivable, excluding discounts, rebates, value added tax and any other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2023, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Financial instruments
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.

Basic financial assets
Basic financial assets which include trade & other debtors, cash and bank balances are measured at transaction price including transaction costs.

Financial assets are derecognised when the contractual rights to cash flows from the asset expire or are settled or when the company transfers significant risk and reward of ownership to another entity.

Basic financial liabilities
Basic financial liabilities which include trade and other creditors are recognised at transaction price including transaction cost.

Financial liabilities are derecognised when the company's contractual obligations are discharged.

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.

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.

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.

ALBYN ASSOCIATES FINANCIAL SOLUTIONS LTD (REGISTERED NUMBER: SC704565)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 July 2024

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - NIL ) .

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
Additions 200,000
At 31 July 2024 200,000
AMORTISATION
Charge for year 6,667
At 31 July 2024 6,667
NET BOOK VALUE
At 31 July 2024 193,333

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Directors' current accounts 144,539 -
Prepayments and accrued income 65,555 -
210,094 -

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed to associates - 14
Tax 51,808 -
Social security and other taxes 756 -
Accrued expenses 24,932 -
77,496 14

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 24,011 -
Between one and five years 33,048 -
57,059 -

ALBYN ASSOCIATES FINANCIAL SOLUTIONS LTD (REGISTERED NUMBER: SC704565)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 July 2024

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

2024 2023
£    £   
Mr C L G Maclennan
Balance outstanding at start of year - -
Amounts advanced 231,405 -
Amounts repaid (141,099 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 90,306 -

Mr C R Thomson
Balance outstanding at start of year - -
Amounts advanced 134,437 -
Amounts repaid (80,205 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 54,232 -

These amounts bear no interest and have no fixed repayment terms.

CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
ALBYN ASSOCIATES FINANCIAL SOLUTIONS LTD (REGISTERED NUMBER: SC704565)

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Albyn Associates Financial Solutions Ltd for the year ended 31 July 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Albyn Associates Financial Solutions Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Albyn Associates Financial Solutions Ltd and state those matters that we have agreed to state to the Board of Directors of Albyn Associates Financial Solutions Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at
https://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/tf-163-jan-24.pdf.

To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Albyn Associates Financial Solutions Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Albyn Associates Financial Solutions Ltd. You consider that Albyn Associates Financial Solutions Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Albyn Associates Financial Solutions Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Nuvo Scotland Limited
Bankhead Drive
City South Office Park
Portlethen
Aberdeenshire
AB12 4XX


17 June 2025