Company No: SC780243 (Scotland)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	31.08.2024
		£
Fixed assets
Intangible assets	3	268,583
		268,583
Current assets
Debtors	4	14,459
Cash at bank and in hand		7,553
		22,012
Creditors: amounts falling due within one year	5	( 303,071)
Net current liabilities		(281,059)
Total assets less current liabilities		(12,476)
Net liabilities		( 12,476)
Capital and reserves
Called-up share capital	6	740
Capital redemption reserve		259
Profit and loss account		( 13,475 )
Total shareholders' deficit		( 12,476)

For the financial period ending 31 August 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial period in accordance with section 476;
• The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Asset Finance Technology Limited (registered number: SC780243) were approved and authorised for issue by the Director on 19 June 2025. They were signed on its behalf by:

Alan Derek Anderson Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.

General information and basis of accounting

Asset Finance Technology Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in Scotland. The address of the Company's registered office is C/O Tsf Finance Ltd 69 St Vincent Street, Level 2, Suite 2/2, Glasgow, G2 5TF, Scotland, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director notes that the business has net liabilities of £12,476. The Company is supported through loans from the director. The director has confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the director will continue to support the Company. Given the current position, the director believes that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Reporting period length

The company was incorporated on 24 August 2023. The accounts have been prepared for the period 24 August 2023 to 31 August 2024.

Turnover

Turnover is stated net of VAT and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable.

Intangible assets

Intangible assets are stated at cost, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Other intangible assets

not amortised

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in bank.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction cost.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities, including creditors and loans are recognised at transaction price.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised at transaction price.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

	Period from 24.08.2023 to 31.08.2024
	Number
Monthly average number of persons employed by the Company during the period, including the director	1

3. Intangible assets

	Other intangible assets		Total
	£		£
Cost
At 24 August 2023	0		0
Additions	268,583		268,583
At 31 August 2024	268,583		268,583
Accumulated amortisation
At 24 August 2023	0		0
At 31 August 2024	0		0
Net book value
At 31 August 2024	268,583		268,583

4. Debtors

	31.08.2024
	£
Other debtors	14,459

5. Creditors: amounts falling due within one year

	31.08.2024
	£
Other creditors	303,071

There are no amounts included above in respect of which any security has been given by the small entity.

6. Called-up share capital

	31.08.2024
	£
Allotted, called-up and fully-paid
7,400 Ordinary shares of £ 0.10 each	740

7. Related party transactions

Transactions with the entity's director

	31.08.2024
	£
Amounts owed to key management personnel	125,515

This loan is interest free and have no fixed repayment terms.

Other related party transactions

	31.08.2024
	£
Amounts owed to related parties	222,721

These loans are interest free and have no fixed repayment terms.