Registration number:
Fintool Limited
for the Year Ended 31 October 2024
Fintool Limited
(Registration number: SC067139)
Statement of Financial Position as at 31 October 2024
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Note |
2024 |
2023 |
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Creditors: Amounts falling due within one year |
( |
( |
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Capital and reserves |
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Called up share capital |
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Retained earnings |
( |
( |
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Shareholders' deficit |
( |
( |
For the financial year ending 31 October 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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• |
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• |
The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
Approved and authorised by the
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Fintool Limited
Notes to the Financial Statements for the Year Ended 31 October 2024
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General information |
The Company is a private company limited by share capital, incorporated in Scotland.
The address of its registered office is:
Scotland
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Accounting policies |
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
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Asset class |
Depreciation method and rate |
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Equipment |
20% reducing balance |
Goodwill
Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the Company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
Fintool Limited
Notes to the Financial Statements for the Year Ended 31 October 2024
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Asset class |
Amortisation method and rate |
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Goodwill |
5% straight line |
Financial instruments
Classification
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Staff numbers |
The average number of persons employed by the Company (including Directors) during the year, was
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Intangible assets |
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Goodwill |
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Cost or valuation |
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At 1 November 2023 |
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At 31 October 2024 |
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Amortisation |
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At 1 November 2023 |
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At 31 October 2024 |
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Carrying amount |
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At 31 October 2024 |
- |
Fintool Limited
Notes to the Financial Statements for the Year Ended 31 October 2024
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Tangible assets |
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Office equipment |
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Cost or valuation |
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At 1 November 2023 |
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At 31 October 2024 |
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Depreciation |
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At 1 November 2023 |
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At 31 October 2024 |
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Carrying amount |
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At 31 October 2024 |
- |
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Creditors |
Creditors: amounts falling due within one year
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2024 |
2023 |
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Due within one year |
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Other creditors |
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